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North Valley Resources Ltd. (CSE: NVR) ("the Company") is pleased to share that it has staked additional claims contiguous to its Comstock Copper-Gold property ("the Property") located approximately 10 km south of Merritt, British Columbia and adjacent to the major Coquihalla Highway. Additionally, the Company is also pleased to provide an update that it has entered into an amended and restated option agreement with respect to the Comstock Property.
Comstock Property Claims Update
The Company provides an update that it has staked 4,857 additional hectares contiguous to its Comstock Copper-Gold property. The additional claims staking is subject to further approval under British Columbia's recently implemented mineral claim consultation framework. Should the staking be approved following the mineral claim consultation framework, the additional staking will increase the total Comstock property from its current size of 4,462 hectares to a total of 9,319 hectares.
Comstock Property Option Update
Additionally, the Company is pleased to announce that, on December 1, 2025, the Company entered into an amended and restated option agreement with respect to the Comstock Property (the "A&R Comstock Option Agreement") with a director of the company. This A&R Comstock Option Agreement amends and restates the previously disclosed Comstock option agreement dated April 14, 2021, as amended on July 12, 2023 and November 1, 2024, pursuant to which the Company has the option to acquire an undivided 100% interest in the Comstock property from a director of the Company "the Optionor". The Comstock Property is currently comprised of 18 contiguous claims covering 4,462 hectares in the Nicola Mining District, approximately 10 kms south of Merritt, B.C.
The Company and the Optionor have amended the Comstock Property Option Agreement terms schedule such that the Company will now have milestone payments extended to the Company's seventh and eighth listing anniversaries. The Company's milestone payments for the fifth-year listing anniversary have been changed to a $25,000 cash payment, a 200,000-share payment, and $100,000 in exploration expenditures. The Company's milestone payments for the sixth-year listing anniversary have been changed to a $50,000 cash payment, a 200,000-share payment, and $300,000 in exploration expenditures. The Company's milestone payments for the seventh-year listing anniversary have been changed to a $70,000 cash payment, a 200,000-share payment, and $300,000 in exploration expenditures. The Company's milestone payments for the eighth-year listing anniversary have been set to a cash payment of $300,000, a 300,000-share payment, and $410,000 in exploration expenditures.
Total milestone payments due after all eight listing anniversaries have been changed to a total of 1,500,000 common shares, $450,000 in total cash payments, and $1,200,000 in total exploration expenditures.
About North Valley Resources
The Company is primarily focused on exploring its optioned Comstock Property covering 4,462 hectares. The Comstock Gold-Copper property is located adjacent to the Coquihalla highway, 10 kms south of Merritt, B.C. Nearby mines include Teck Resources' Highland Valley Copper Mine, Hudbay Minerals' Copper Mountain Mine, and New Gold's New Afton Mine. Recent discoveries in proximity to the Comstock property include Kodiak Copper's MPD Property (approx. 15 kms to the southeast) and Westhaven Gold's Shovelnose Property (approx. 13 km to the south).
For further information, please contact Quinn Ellerbeck, CFO, Director at quinn@lacombeventures.com.
Forward-Looking Statements: This press release may contain "forward-looking information or statements" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
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