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July 15, 2026 TheNewswire - Vancouver, British Columbia Radius Gold Inc. (TSX-V: RDU) ("Radius" or the "Company") is pleased to announce that it has executed a formal Option Agreement (the "Agreement") with Minera Joncijirca S.A.C. for the Jonco Silver Project (the "Project") in central Peru.
As previously announced on February 27, 2026, the binding Letter of Intent has now been formalized into a definitive agreement. The Agreement grants Radius (through its subsidiary, Minera Aymara S.A.C.) an exclusive option to acquire 100% of the seven mining concessions comprising the Jonco Silver Project.
Transaction Terms (as previously disclosed and now formalized)
Under the Agreement, Radius may earn a 100% interest in the Project over a five-year period commencing on the receipt of permits to drill the Project through:
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Staged cash payments totaling US$4.15 million.
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US$7.0 million in exploration expenditures.
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Issuance of 250,000 Radius common shares on a staged schedule.
Upon exercise of the option and acquisition of 100% ownership, the vendor will retain a 2% NSR royalty, reducible by 0.5% for a one-time US$1.0 million payment. The Project is also subject to an existing 1.25% NSR royalty held by Compañía de Minas Buenaventura S.A.A. on two concessions.
The TSX Venture Exchange has accepted the Agreement and Radius has issued the initial 50,000 common shares to the vendor. The shares have a regulatory-prescribed resale restriction until November 10, 2026. The Company will also make the initial US$50,000 cash payment to the property vendor.
About the Jonco Silver Project
The Project hosts a large-scale polymetallic silver-gold-lead-zinc system associated with dacite flow domes and diatreme breccias. It covers 3,830 hectares with multiple drill and geophysical targets, 11 historic drill holes (3,195m), and significant potential for bulk-tonnage mineralization. Additional details, including historical drill results and geological highlights, are set out in the Company's February 27, 2026 news release and on the Radius website.
"Execution of this Agreement is an important milestone for Radius as we secure formal access to the Jonco Silver Project," commented Luke Longridge, President of Radius Gold. "We are now positioned to advance surface exploration and target refinement, and I look forward to working with our team and other stakeholders as we progress through the permitting process."
Qualified Person
Luke Longridge, PhD, P.Geo, is the President of Radius and is Radius's Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr. Longridge has reviewed and approved the technical information contained in this news release.
About Radius Gold Inc.
Radius Gold Inc. is an exploration company focused on the discovery and advancement of high-quality projects in the Americas. The Company's strategy is to identify, acquire and advance exploration opportunities with strong discovery potential.
ON BEHALF OF THE BOARD
Simon Ridgway
CEO and Chairman
Radius Gold Inc.
1111 Melville Street, Suite 1000
Vancouver, BC V6E 3V6, Canada
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company's exploration plans for the Jonco Silver Project. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the planned exploration work at the Company's projects will proceed as intended; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company's stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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