Barranco Announces Debt Settlement
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BARRANCO ANNOUNCES DEBT SETTLEMENT
VANCOUVER, BC, August 11, 2026 /CNW/ - Barranco Gold Mining Corp. (" Barranco" or the " Company")
(CSE: BAR) (FWB: 314) announces that it intends to settle an aggregate of $250,000 of indebtedness to a
non-arm's length creditor of the Company (the " Creditor") through the issuance of 390,625 common
shares in the capital of the Company (the "Common Shares") at a price of $0.64 per Common Share (the
"Debt Settlement") pursuant to the terms of a debt settlement agreement to be entered into between
the Company and the Creditor.
Closing of the Debt Settlement remains subject to receipt of all applicable regulatory approvals and the
policies of the Canadian Securities Exchange ("CSE"). All securities issued pursuant to the Debt Settlement
are subject to a statutory hold period of four months and one day from the date of issuance.
The Creditor under the Debt Settlement is the spouse of Reno Calabrigo, director and Chief Executive
Officer of the Company, and therefore constitutes a "related party" of the Company pursuant to
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-
101"). Accordingly, the Debt Settlement constitutes a "related party transaction" within the meaning of
MI 61-101. Pursuant to the Debt Settlement, the Creditor will receive an aggregate of 390,625 Common
Shares. The Company is not required to obtain a formal valuation or minority shareholder approval in
connection with the Debt Settlement in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, which
provide an exemption where the fair market value of the "related party transaction" is less than 25% of
the market capitalization. The Company did not file a material change report more than 21 days before
the expected closing of the Debt Settlement as the details thereof were not settled until shortly prior to
closing and the Company wished to close on an expedited basis for sound business reasons.
The board of directors of the Company has determined that it is in the best interests of the Company to
settle the outstanding debts by the issuance of Common Shares in order to preserve the Company's cash
for working capital. Reno Calabrigo disclosed an interest in the Debt Settlement and deliberations
regarding the viability of the Debt Settlement were discussed between the other directors.
About Barranco Gold Mining Corp.
The Company is a junior mining exploration company. Its initial focus is to conduct the proposed
exploration program on the King Property located in the Nicola and Similkameen Mining Divisions in
British Columbia and to continue to identify and potentially acquire additional property interests, assess
their potential and engage in exploration activities.
ON BEHALF OF THE BOARD OF DIRECTORS
Reno J. Calabrigo
Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
Reno J Calabrigo,
Chief Executive Officer,
LEGAL*72820938.2
(647) 402-0957
210-233 West 1st Street
North Vancouver, British Columbia
V7M 1B3
www.barrancogold.com
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts
responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements"
within the meaning of Canadian securities legislation as may be amended from time to time, including,
without limitation, statements regarding the closing of the Debt Settlement and approval of the CSE.
Forward-looking statements are statements that are not historical facts which address events, results,
outcomes or developments that the Company expects to occur. Forward-looking statements are based
on the beliefs, estimates and opinions of the Company's management on the date the statements are
made, and they involve a number of risks and uncertainties. Certain material assumptions regarding such
forward-looking statements were made, including without limitation, assumptions regarding the price of
gold and silver; the accuracy of mineral resource estimations; that there will be no material adverse
change affecting the Company; that all required approvals will be obtained, including concession renewals
and permitting, as applicable; that political and legal developments will be consistent with current
expectations; that currency and exchange rates will be consistent with current levels; and that there will
be no significant disruptions affecting the Company. Consequently, there can be no assurances that such
statements will prove to be accurate and actual results and future events could differ materially from
those anticipated in such statements. Forward-looking statements involve significant known and
unknown risks and uncertainties, which could cause actual results to differ materially from those
anticipated. These risks include, but are not limited to: risks and uncertainties in the business of the
Company and market conditions; and risks associated with executing the Company's objectives and
strategies, including costs and expenses, as well as those risk factors discussed in the Company's most
recently filed management's discussion and analysis, available on www.sedarplus.com. Except as required
by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no
obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or
other factors, should change.