Acquisition of Gold Project in Quebec
AuQ GOLD MINING INC.
Suite 1000, 409 Granville Street
Vancouver, BC, V6C 1T7
Acquisition of Gold Project in Quebec
Vancouver, BC, April 1, 2025 – AuQ Gold Mining Inc. (TSXV:AUQ; PINK:NSVLF) (the “Company”)
reports it has executed an agreement with arm’s length vendors to acquire 100 per cent of the Bellechasse
Timmins project (B-T). It consists of 6 claims totalling 351.94 hectares (3.52km2) located approximately 100
kilometres or a 1.5 hour drive southeast of Quebec City in the Beauce-Bellechasse region of the Province of
Quebec. The project has very good access, logistics, manpower availability and Quebec has been regularly
ranked as a top exploration and mining jurisdiction by the Fraser Institute.
Project Summary
The B-T deposit contains at least 4 mineralized zones namely the Timmins 1 (T1), Timmins 2 (T2), Ascot and
88.
The B-T geological setting is characterized by folded mafic intrusive, volcaniclastite and sediments, having
a general SW-NE orientation. Considering the structural context, the mineralized bodies are a folded mafic
intrusive with an axial plane running NE, apparently dipping steeply to the SE and plunging to the SW.
T1, the largest zone to date is located within a heavily transposed and compacted anticlinal fold nose,
along the structural plane. The T2 zone is located easterly along the flank of the fold. The 88 zone is located
within a large transposed fold southeast of the T1. The Ascot is along the northern flank of the fold.
The 2012 SGS 43 -101 compliant mineral Resource (base case) for T1 -T2 zones using a lower cut -off grade
of 0.6g/t Au and gold capping at 30 g/t Au is classified as:
Indicated: 2.905,000 tonnes at 1.83 g/t Au totalling 171,000 oz;
Inferred: 2.173,000 tonnes at 1.36 g/t Au totalling 95,000 oz.
The same Resource with the same lower cut-off grade of 0.6g/t Au and no capping limit is classified as:
Indicated: 2.905,000 tonnes at 3.36 g/t Au totalling 313,900 oz;
Inferred: 2.173,000 tonnes at 1.46 g/t Au totalling 102,000 oz.
Terms of the Transaction
To acquire a 100-per-cent interest in the property, AUQ will:
Deadline Vendor #1 Vendor #2
Cash Shares
Initial Payment
Within 48hrs after TSX-V
Approval
108,225 shares at a deemed
price $0.231
$12,500 54,100 shares
On or Before April 25, 2025 $25,000 of shares $12,500(1) $12,500 of
shares
On or Before August 25, 2025 $146,500 of shares $73,250(1) $73,250 of
shares
(1) Vendor #2 has the option to request that any of these cash payments be satisfied by shares
provided that he advises the Company three business days prior to the proposed issuance date of
the shares by the Company.
The value of the shares will be based on the volume weighted average trading price for the 20 trading days preceding
the issuance date with a minimum price of $0.07 per share
AUQ will also commit to paying the vendors a gold royalty of 1 -per-cent NSR (net smelter return) on any and all
commercial production of gold. AUQ may repurchase the 1% NSR for $1 -million at any time. In the event that the
Vendors obtain a bonafide offer for the royalty, AUQ retains a right of first refusal to match such offer within 60
days of receipt of notice of such an offer.
A Finders fee comprised of 10% of the aggregate consideration is payable to an arm’s length finder.
All securities will be legended with a hold period expiring 4 months plus 1 day following the issuance and subject to
TSX-V approval.
Jacques Marchand P.Eng Geology, is the Qualified Person under National Instrument 43-101 and has reviewed and
approved the technical geological information provided in this news release.
ON BEHALF OF THE BOARD
“Glen Macdonald”
Chief Executive Officer and Director
Contact Person: Mr. Glen Macdonald
Telephone: (604) 719-8129
Email: [email protected]
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.
This news release may contain forward-looking statements that are based on AuQ Gold Mining Inc.'s
expectations, estimates and projections regarding its business and the economic environment in which it
operates. These statements are not guarantees of future performance and involve risks and uncertainties that are
difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in
these forward-looking statements and readers should not place undue reliance on such statements. Statements
speak only as of the date on which they are made, and AuQ Gold Mining Inc. undertakes no obligation to update
them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise
required to do so by law.