TRU Executes Joint Venture Agreement Governing its 51% interest in the Staghorn Property at Golden Rose
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TRU Executes Joint Venture Agreement
Governing its 51% interest in the Staghorn
Property at Golden Rose
Toronto, Ontario –February 18, 2026– TRU Precious Metals Corp. (TSXV:TRU, FSE:706) (“TRU”
or the “Company”) is pleased to announce that a Joint Venture Agreement (“JVA”) that regulate s the
51%/49% Joint Venture (“JV”) arrangement on the Staghorn Property between the Company and Quadro
Resources Ltd. (“Quadro”) has been executed by the parties.
The JV is deemed to have been in existence since July 5, 2025, being the commencement date under the
JVA, following the Company’s election not to exercise the additional option to increase its interest in
the Staghorn Property as detailed in the Company’s news release dated August 6, 2025. The Staghorn
Property represents approximately 11% of the total Golden Rose land package.
The JVA, which contains industry standard terms and is consistent with the framework set out in the
option agreement between TRU and Quadro dated June 15, 2022, as amended (the “Option Agreement”)
provides, among other things, that:
• the parties will fund exploration and other JV expenditures on the Staghorn Property on a pro
rata basis in accordance with their respective participating interests;
• a management committee will be established consisting of two representatives appointed by TRU
and one representative appointed by Quadro;
• TRU will act as operator of the JV and will be entitled to a 10% operator’s fee on JV expenditures;
• annual programs and budgets are to be presented to the JV management committee at the
beginning of each year for approval, with cash calls made quarterly;
• a party’s participating interest will be subject to dilution in the event it does not fund its share of
approved expenditures;
• the JVA includes customary dilution provisions, pursuant to which a participant’s interest may
be reduced in the event it does not fund its share of approved expenditures, and which
contemplate alternative forms of participation in certain circumstances, which may include a 1%
net smelter returns royalty of which 0.5% would be re -purchasable by TRU for $1,000,000 ,
subject to the terms of the JVA; and
• The JVA is subject to the rights of Eldorado Gold Corporation (“Eldorado”) under its earn‑in
agreement with TRU, pursuant to which Eldorado has the option to fund CAD $15.25 million in
cash payments and exploration expenditures over a five‑year period to e arn an 80% interest in
the Golden Rose Project. The exercise of that option may require amendment and restatement of
the JVA to give effect to Eldorado’s rights.
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TRU CEO Steve Nicol commented: “We are very pleased to have completed the final JVA with Quadro,
our partner on the Staghorn Property, and appreciate the spirit of professional and businesslike
collaboration which has permeated the discussions. Both parties have been advancing exploration
activities at Staghorn since the JV became effective in July 2025, and we look forward to continuing to
advance operations at Staghorn together under the terms of the newly executed JVA as we aim to
efficiently discover the full gold and copper potential of the Staghorn Property.”
The TRU exploration team is currently assessing final results still being received from the 2025 field
season at Golden Rose and applying these in design of the 2026 field season work programs. Further
information, including final outcomes from the 2025 field season, will be provided when all results have
been compiled and assessed.
About TRU Precious Metals Corp.
TRU (TSXV:TRU, FSE:706 ) is on a mission to build long -term shareholder value through prudent natural
resource property development. The company’s flagship project is the Golden Rose Project a regional -scale
297.50 km2 land package in Central Western Newfoundland (includes a 33.25 km2 package of claims over which
TRU has a 51% interest ) which straddles a 45 km strike length along the gold deposit -bearing Cape Ray -
Valentine Lake Shear Zone, directly between Equinox Gold Corp’s Valentine Project and AuMEGA Metals Ltd’
Cape Ray Gold Project. TRU is currently focused on efficiently discovering the full gold and copper potential at
Golden Rose, targeting continuity along this proven gold bearing trend. The Golden Rose Project is currently
subject to an Earn -In Agreement with TSX -listed Eldorado Gold Corporation (“Eldorado”), whereby Eldorado
has the option to fund CAD15.25M in cash payments and exploration expenditures over 5 years to earn an 80%-
interest in the Golden Rose proje ct. Please refer to our July 30 th, 2024 press release for further details of the
agreement.
TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
For further information about TRU, please contact:
Steve NICOL
CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: [email protected]
To connect with TRU via social media, below are links:
X (formerly Twitter): https://twitter.com/TRUMetals
YouTube: https://www.youtube.com/@TruMetalsCorp
LinkedIn: https://www.linkedin.com/company/tru-precious-metals-corp/
Instagram: https://www.instagram.com/TRUMetals/
Facebook: https://www.facebook.com/TRUMetals/
Acknowledgement
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TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior
Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the
exploration activities at Golden Rose.
Forward-Looking Statements
This news release contains “forward‑looking information” and “forward‑looking statements” within the meaning
of applicable Canadian securities laws (collectively, “forward‑looking statements”). Forward‑looking statements
in this news release include, but are not limited to, statements regarding: the expected operation and governance
of the joint venture on the Staghorn Property; future exploration activities, programs, budgets and expenditures;
the timing, scope and results of exploration work; the potential conversion of joint venture interests into royalties;
the potential exercise by Eldorado of its earn‑in rights in respect of the Golden Rose Project; and the Company’s
plans, objectives and expectations with respect to the Staghorn Property and the Golden Rose Project
Forward-looking statements are based on management’s reasonable assumptions, estimates, expectations and
beliefs as of the date of this news release, including assumptions regarding: the ability of the parties to the joint
venture to comply with their respective obligations; the availability of funding; exploration, operating and capital
costs; the timing of regulatory approvals, if any; commodity prices; and general business, economic, geological
and market conditions. Although the Company believes these assumptions to be reasonable, they may prove to be
incorrect.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may
cause actual results or events to differ materially from those expressed or implied by such forward -looking
statements. These risks and uncertainties include, but are not limited to: risks inherent in mineral exploration and
development; the speculative nature of exploration results; fluctuations in commodity prices; operational and
technical risks; changes in economic conditions; risks related to counterparties and joint venture arrangements;
risks related to the exercise or non-exercise of earn-in or option rights by third parties; regulatory and permitting
risks; and those risks described in the Company’s continuous disclosure filings available unde r the Company’s
profile on SEDAR+.
Readers are cautioned not to place undue reliance on forward -looking statements. Forward-looking statements
are made as of the date of this news release, and the Company does not undertake any obligation to update or
revise any forward-looking statements, except as required by applicable securities laws
This press release is solely the responsibility of TRU, and Eldorado is not in any way responsible or liable for the
contents hereof.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.