GOLD Runner Exploration Receives Final Payment Installment FOR Cimarron Sale and Joint Venture Agreement with Surface Metals Inc.
330 5th Ave, Suite 1800
Calgary, AB T2P 0L3
www.goldrunnrerexploration.com
GOLD RUNNER EXPLORATION RECEIVES FINAL PAYMENT INSTALLMENT FOR
CIMARRON SALE AND JOINT VENTURE AGREEMENT WITH SURFACE METALS INC.
Vancouver, Canada, October 22, 2025 – Gold Runner Exploration Inc. (CSE: GRUN, Frankfurt: CE7)
(“Gold Runner” or the “ Company”) is pleased to announce it has received final payment from Surface
Metals Inc. (“Surface Metals”), pursuant to the joint venture agreement with Gold Runner, announced in
the Company’s news release dated April 10, 2025 whereby Surface Metals (then ACME Lithium Inc.)
acquired 90% of the Cimarron gold project and Gold Runner retained 10% carried interest in the Cimarron
gold project (“Cimarron” or the “ Property”), subject to a 2.5% net smelter royalty to Nevada Select
Royalty.
The final payment received under the joint venture agreement is US$25,000 plus 166,666 common shares
of Surface Metals on a post consolidated basis (originally 500,000 shares pre -consolidation on a one new
for three former shares basis). Total consideration paid by Surface Metals to Gold Runner is US$149,000
plus 1,000,000 pre-consolidated or 333,333 post-consolidated common shares in Surface Metals. Surface
Metals shall have the right to acquire a further 5% interest from Gold Runner for US$500,000. Gold
Runner’s retained interest shall be carried until a completed preliminary economic assessment after which
each party will be responsible for its pro rata share of exploration costs.
The Property is comprised of 31 unpatented lode claims which overlap and control the 6 historically
producing claims around the San Antonio mine. The San Antonio mine was active from the early 1900’s to
the 1940’s, and the mine area received attention again in the 1980’s from a number of exploration companies
including Newmont and Echo Bay. Altogether, approximately 190 holes totalling about 54,000 feet (16,460
meters) were drilled in this effort, with gold intercepts greater than 1 opt encountered in several drill holes.
The drilling identified a shallow oxide gold resource, but the property did not progress to production. The
historic resource outlined includes a West, Central, and East target which totals greater than 50,000 ounces
of gold (see Map 2 belo w; reference is to an internal mining report by Peter Hahn to Budge Mining Ltd.
dated February 17, 1987). The resource for the Property was never made 43 -101 compliant as the data
predated the practice.
The resource is hosted in a series of Oligocene age volcanic rocks overlying Paleozoic strata, and younger
Miocene age intrusions. The target is a shallow, low sulfidation oxide gold system with strong structural
control. The mineralization is associated with silicification, brecciation, and iron oxides.
The Cimarron high-grade epithermal gold target is associated with the historic San Antonio mine located
in Nye County, Nevada approximately 30 kilometers North of the mining town Tonopah, Nevada.
The Property is situated in the northern portion of the San Antonio Mountain Range. Regionally, the
property is at the intersection of two prominent gold trends: The Walker -Lane trend which runs
approximately NW and hosts a number of mines including Bullfr og, Goldfield, and Rawhide; and an
approximately NNE trend of gold mines including Manhattan, Gold Hill, and the “world -class” Round
Mountain – according to the Kinross website, Round Mountain’s 15 millionth ounce of gold was poured as
of 2018). See Map 1 below.
The Fraser Institute mining survey has consistently ranked Nevada among the top 10 mining jurisdictions
in the world over its last 10 surveys, ranking Nevada number 1 in 2023.
About Surface Metals:
Surface Metals Inc. is a mineral exploration company focused on acquiring, exploring, and developing
battery and precious metal projects in partnership with leading technology and commodity companies in
North America. Surface Metals holds a 90% interest in the Cimarron Gold Project in Nye County, Nevada,
and through its US subsidiary, ACME Lithium US Inc., is advancing and developing a lithium brine
resource at Clayton Lake Valley, Nevada and holds a sedimentary lithium claystone project at Fish Lake
Valley, Nevada. Surface Metals Inc. has entered into a strategic exploration agreement with Snow Lake
Resources Ltd, a leading partner, at a group of lithium projects in the pegmatite region of Shatford, Birse
and Cat-Euclid Lakes in southeastern Manitoba.
This News Release was jointly prepared with Dr, Craig J Mach, PhD. Geology, and has been approved by
Alan Morris, M.Sc., CPG #10550. Alan J. Morris is a Qualified Person as defined by NI 43- 101 and has
reviewed the scientific and technical disclosure included in this news release.
On Behalf of the Board of Directors,
“Chris Wensley”
About Gold Runner Exploration Inc:
Gold Runner Exploration is an experienced exploration company focused on the exploration and development of its
portfolio of gold and silver properties located in prolific mining districts of Canada and the USA.
Rock Creek gold project is Gold Runner's flagship asset, with 74 unpatented lode mining claims wholly owned and
controlled by the Company. Emboldened by the results coming out of Rock Creek, the Company strategically expanded
the land position with the acquisition of the nearby Dry Creek prospect and the acquisition of the Falcon silver -gold
prospect in September 2022. Between the three properties, all targeting similar mineralization and likely the same
hydrothermal system, Gold Runner Exploration now holds 239 total claims in close proximity of one another. These
three gold prospects are situated in a region with proven "world class" gold deposits (including Midas, Jerritt Canyon,
Betze-Post, Meikle, and Gold Quarry), where the potential of finding large, high- grade gold- silver deposits is
favourable.
Gold Runner also holds a 10% carried interest in the Cimarron project located in the San Antonio Mountains of Nye
County, Nevada, and comprised of 31 unpatented lode mining claims, including control of 6 historically producing
claims associated with the historic San Antonio mine. The property is located in the prolific Walker -Lane trend,
approximately 44 kms south of the "world class" Round Mountain deposit.
For further information please contact:
Chris Wensley, Chief Executive Officer
Email: [email protected]
Forward-Looking Information
This news release includes certain information that may be deemed “forward-looking information” under applicable securities
laws. All statements in this release, other than statements of historical facts, including but not limited to those that address
acquisition of any properties and future work thereon, mineral resource and reserve potential, exploration activities and events or
developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed
in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the statements. There are certain factors that could cause actual results
to differ materially from those in the forward-looking information. These include the results of the Company’s due diligence
investigations, market prices, exploration successes, continued availability of capital financing, and general economic, mark et or
business conditions, and those additionally described in the Company’s filings with the Canadian securities authorities.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may
differ materially from those projected in the forward -looking information. For more information on the Company, investors are
encouraged to review the Company’s public filings at www.sedar.com. The Company disclaims any intention or obligation to
update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than
as required by law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS
REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE