GGL Resources Corp. Announces Earn-In Agreement on its Gold Point High- Grade Gold-Silver Project, Nevada
GGL Resources Corp. Announces Earn-In Agreement on its Gold Point High-
Grade Gold-Silver Project, Nevada
• GGL options up to 90% of the vein system at its Gold Point Project
• Initial cash payment of US$190,000
• Retained upside via staged share payments, a 2% NSR and future Performance Rights
• Teck terminates option at Le Champ porphyry target
Vancouver, BC – December 11, 2025 – GGL Resources Corp. (TSX-V: GGL) (“GGL” or the
“Company”) is pleased to announce that it has executed an agreement with ASX listed Nelson Resources
Limited (“NES”) by which NES can acquire up to a 90% interest in GGL’s high-grade, gold-silver Gold
Point Project located in the Walker Lane District, Nevada.
Acquisition Terms
Upon completion of the Acquisition, NES will acquire an initial 25% interest in the Gold Point Project by
making the following payments to GGL:
(i) a cash payment of approximately US$190,000, which includes reimbursement for exploration
expenditures incurred by GGL on the Gold Point Project for the 2025 financial year;
(ii) the issue of the number of NES s hares (“Consideration Shares”) equivalent to the value of
A$325,000 at a deemed issue price equal to the 20-day volume weighted average price (“VWAP”)
of shares trading on the ASX immediately prior to the date of the binding documentation /
announcement of the transaction. These shares will be subject to voluntary escrow for 12 months
from the date of issue; and
(iii) a 2% net smelter returns royalty on all minerals extracted from the Gold Point Project. NES will
have the right to buy-back 50% of the royalty for a cash payment of up to US$1,000,000 to GGL,
which may be exercised by NES at its election in part or full.
Nelson has announced it is fully funded for 2026 and plans to kick -off an aggressive exploration program,
including underground LiDAR surveys, IP geophysics, systematic channel and surface sampling programs,
and priority drilling of high-grade targets.
Earn-In Terms
Subject to the completion of the Acquisition, NES will have the exclusive right to earn up to a 90%
collective interest in the Gold Point Project subject to satisfying aggregate earn -in expenditure s of
US$3,000,000 and making consideration payments to GGL, in the following tranches:
• Stage 1 – 45% total earned interest within 12 months of Acquisition by issuing t he additional
number of Shares to the value of A$162,500, US$250,000 in exploration expenditures and
US$75,000 cash payment to GGL.
• Stage 2 – 65% total earned interest within 24 months of Acquisition by issuing t he additional
number of Shares to the value of A$162,500, US$750,000 in exploration expenditures and
US$100,000 cash payment to GGL.
• Stage 3 – 90% total earned interest within 36 months of Acquisition by issuing t he additional
number of Shares to the value of A $350,000, US$ 2,000,000 in exploration expenditures and
US$500,000 cash payment to GGL.
Note: The number of Earn -In Shares to be issued to GGL will be calculated using a deemed issue price
equal to the higher of the 20-Day VWAP immediately prior to NES earning the relevant Earn-In Interest,
or the deemed issue price of the Consideration Shares.
Assuming any of S tage 1, 2 or 3 are not completed, GGL can purchase back all of NES’s interest in the
property for US$1.00.
Upon NES earning 90% interest, the Project will then operate as a joint venture with each party contributing
their prorated portion of costs.
Performance Rights
GGL will be entitled to receive the following performance rights which upon the satisfaction of the
following performance hurdles will either convert into Shares (on a 1-for-1 basis) or will be paid in cash at
the election of NES:
• Tranche 1 – Performance hurdle of NES announcing to ASX a JORC Code 2012 compliant
mineral resource estimate at the Gold Point Project of at least 1 million ounces gold with an
average grade of not less than 1.5 g/t using a cut-off grade of no less than 0.5 g/t, GGL will receive
420,833,333 performance rights or a US$1,250,000 cash payment to GGL.
• Tranche 2 – Performance hurdle of NES announcing to ASX the commencement of production
at the Gold Point Project, GGL will receive 673,333,333 performance rights or a US$2,000,000
cash payment to GGL.
The transaction is subject to TSX Venture Exchange acceptance. Finders Fees may be paid on portions of
the cash and shares payable to GGL in the transaction.
About Gold Point – High-Grade Gold Vein-Fault Systems
The permitted and road accessible Gold Point Project is located 26 miles south of Goldfield, Nevada, and
covers several historical mine sites that intermittently produced high-grade gold and silver between 1882 and
1962. GGL has spent the last several years consolidating this camp-scale gold district with the land package
currently totaling approximately 7,400 acres.
The project now covers f ive significant former mines (Orleans, Great Western, Lime Point, Cook, Grand
Central) plus numerous smaller workings totaling at least 17 known to date. Gold is hosted in vein-faults that
generally trend WNW-ESE and are exposed over a 1,600 m x 2,200 m area before being obscured by alluvial
cover in three directions.
Gold mineralization occurs along the veins with higher grades occurring as shoots at structural intersections.
Some examples of higher grades collected underground by GGL at the Orleans Mine are 61.8 g/t Au over
1.38m, 27.7 g/t over 1.68m, and 21.4 g/t Au over 1.22m on the 300-, 150-, and 800-foot levels respectively.
The underground workings are developed to a maximum vertical depth of 750 ft at the Orleans where the
workings are dry and mineralization displays varying degrees of oxidation. Sample preparation and gold
analysis was performed b y ALS Minerals in Reno, Nevada. Gold was analyzed by fire assay followed by
atomic absorption (Au-AA26).
Le Champ Porphyry
GGL has been notified by Teck American Incorporated (“Teck”), a subsidiary of Canadian resource
company, Teck Resources Limited, that Teck has terminated its Option agreement on the Le Champ copper-
moly-gold porp hyry located adjacent to the Gold Point Project (See GGL news release dated September
25, 2024).
GGL has now regained an unencumbered 100% ownership in the road accessible Le Champ porphyry. Upon
receipt of the detailed technical data from Teck, GGL will analyze the results and look for strategic
alternatives to continue to advance the Le Champ porphyry project.
Qualified Person
Technical information in this news release has been reviewed and approved by Matthew R. Dumala, P.Eng.,
a geological engineer with Archer, Cathro & Associates (1981) Limited and a qualified person for the
purposes of National Instrument 43-101.
About GGL Resources Corp.
GGL is a seasoned, Canadian -based junior exploration company, focused on the exploratio n and
advancement of under evaluated min eral assets in p olitically stable, mining friendly jurisdictions. The
Company owns the McConnell Project, which hosts mesothermal g old veins and an under explored
porphyry copper-gold prospect in the Kemess District of north -central British Colu mbia. The Comp any
has optioned the vein portion of its 100% owned and optioned claims in the Gold Point district of the prolific
Walker Lane Trend, Nevada. The Gold Point claims cover several gold-silver veins, five of which host past
producing high-g rade mines, as well as an exciting new Cu-M o-Au porphyry target . GGL also holds
diamond royalties on mineral leases adjacent to the Gahcho Kué diamond mine and southwest of the Ekati
diamond mine in the Northwest Territories.
ON BEHALF OF THE BOARD
“Matthew Turner”
Interim Chief Executive Officer and Director
For further information concerning GGL Resources Corp. or its various exploration projects please visit our
website at www.gglresourcescorp.com or contact:
In
vestor Inquiries
R
ichard Drechsler
Corporate Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
Corporate Information
L
inda Knight
Corporate Secretary
Tel: (604) 688-0546
Nei
ther 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.
Information contained in this news release contains forward-looking statements. These statements reflect
management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future
performance. Forward-looking statements are sta tements that are not historical facts and are generally,
but not always, identified by the words “high”, “evaluated”, “potential”, “significant” and similar
expressions, or that events or conditions “may”, “could” or “will” occur. GGL cautions that all forward-
looking statements are inherently uncertain, and that actual performance may be affected by a number of
material factors, many of which are beyond the control of GGL. Such factors include, among other things:
risks and uncertainties relating to exploration and development and the results thereof, including the results
of the recently completed drill program, the impact on future mineral reso urce estimates, the potential for
new discoveries, and the results of future metallurgical programs, as well as the ability of GGL to obtain
additional financing, the need to comply with environmental and governmental regulations, fluctuations in
the prices of commodities, operating hazards and risks, competition and other risks and uncertainties,
including those described in GGL’s financial statements available under the GGL profile at
www.sedarplus.ca. Accordingly, actual and future events, conditions and results may differ materially from
the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information.
Except as required under applicable securities legislation, GGL undertakes no obligation to publicly update
or revise forward-looking information.