Great Pacific Gold Announces Sale of Golden Mountain Project in Victoria, Australia
TSX-V: GPAC OTCQX: FSXLF GER: V3H
www.gpacgold.com | 1
Great Pacific Gold Announces Sale of Golden Mountain Project
in Victoria, Australia
February 12, 2025 – Vancouver, BC, Canada – Great Pacific Gold Corp. (“Great Pacific Gold,” “GPAC,” or
the “ Company”) (TSXV: GPAC | OTCQX: FSXLF | Germany: V3H ) is pleased to announce that it has
executed a binding purchase agreement with Adelong Gold Limited (ASX: ADG) (“Adelong Gold”) for the
sale of a 100% interest in Exploration Licence 6430 (EL6430), the Golden Mountain Project (“Golden
Mountain” or the “Project”), in Victoria, Australia.
The transaction aligns with Great Pacific Gold’s strategy of unlocking value from its extensive portfolio of
high-quality gold assets.
“The sale of Golden Mountain reflects our commitment to delivering value to shareholders while focusing
our efforts on advancing our core assets in Papua New Guinea,” said Greg McCunn, CEO of Great Pacific
Gold. “This transaction allows us to strengthen our balance sheet while enabling further exploration and
development at Golden Mountain under Adelong Gold’s leadership.”
Transaction Terms - Adelong Gold will acquire EL6430 for:
• A cash payment to GPAC of AUD$350,000, payable within five business days of meeting all
conditions precedent.
• AUD $350,000 worth of fully paid ordinary shares in Adelong Gold, issued six months post -
completion at a price based on the five -day volume-weighted average price (VWAP) at the time
of issue.
Adelong intends to rename the Project the Apollo Gold Project which remains open at depth and along
strike, offering significant upside potential. The Company looks forward to following Adelong Gold’s
progress as they advance exploration and development activities.
On behalf of Great Pacific Gold
Greg McCunn, Chief Executive Officer and Director
For further information visit gpacgold.com or contact:
Email: [email protected]
About Great Pacific Gold
Great Pacific Gold has a portfolio of exploration stage projects in Papua New Guinea (“PNG”) and Australia.
The Company is focused on developing gold-copper resources from its highly prospective land packages.
Its core projects include:
www.gpacgold.com | 2
• Wild Dog – located in the East New Britain province of PNG, Wild Dog is a brownfield exploration
project with a history of small-scale gold mining. The project contains numerous epithermal and
porphyry hydrothermal-magmatic targets evidenced by previous exploration and operations. The
Company expects to begin and extensive exploration program in Q1 2025 at Wild Dog.
• Kesar – located in the Eastern Highlands province of PNG and contiguous with K92 Mining’s
mine tenements, Kesar is a greenfield exploration project with several high priority targets in
close proximity to the property boundary with K92. Multiple epithermal veins at Kesar are on
strike and have the same orientation of key K92 deposits such as Kora. Exploration work to date
by GPAC at Kesar has shown that these veins have high grades of gold present in outcrop and
very elevated gold in soil grades, coincident with aeromagnetic highs.
• Arau – located in Eastern Highlands province of PNG, the Arau Project contains the highly
prospective Mt. Victor exploration target with potential for a high sulphidation epithermal gold-
base metal deposit. A Phase 1 Reverse Circulation drilling program was completed at Mt. Victor
in August 2024, with results pending. The Arau project includes the Elandora licence which also
contains various epithermal and copper-gold porphyry targets.
• Lauriston – located in the state of Victoria, Australia, the Lauriston project is located on the
southern extension of the Fosterville Goldfield Belt and is adjacent to Agnico Eagle’s extensive
Fosterville tenements and mine operations. Lauriston contains the Comet-Trojan target, a 4.5km
long epizonal orogenic system. The discovery hole at Comet intersected 8m at 105 g/t gold and a
follow-up drilling program was completed in Q3 2024. The Company is consolidating its
information on the Lauriston project and expects to publish an NI 43 -101 compliant technical
report.
• Walhalla – located in the state of Victoria, Australia, the Walhalla project consists of over
1,400km2 of concessions including the numerous historical mining operations and the recently
acquired Woods Point land package. The Company is consolidating its information on the
Walhalla project and expects to publish an NI 43 -101 compliant technical report. W alhalla
contains a high- priority greenfield target called Pinnacles. Extensive soil geochemistry has
highlighted a 400m x 1,100m gold mineralized aplitic dyke which contains disseminated sulphides
and outcrops at surface. The Pinnacles target is fully permitted and ready for drilling.
The Company also holds a number of other exploration projects including the recently acquired Tinga
Valley Project.
Quality assurance/quality control
All assays were subject to quality control measures appropriate for reconnaissance rock chip sampling
with duplicates, blanks and commercially available standards with the expected results from the samples
submitted. All assays were conducted by Intertek M inerals Ltd. (ISO: 9001), located in Lae, Papua New
Guinea, using fire assay techniques with a 30-gram charge and ICP-OES finish. The quality control results
are consistent.
Qualified Person
The technical content of this news release has been reviewed, verified and approved by Callum Spink, the
Company’s Vice President, Exploration, who is a member of the Australian Institute of Geoscientists,
MAIG, and a Qualified Person as defined by National Instrument NI 43 -101 Standards of Disclosure for
Mineral Projects. Mr. Spink is responsible for the technical content of this news release.
www.gpacgold.com | 3
Forward-Looking Statements
Information set forth in this news release contains forward- looking statements that are based on
assumptions as of the date of this news release. These statements reflect management's current
estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Great
Pacific Gold cautions that all forward- looking statements are inherently uncertain and that actual
performance may be affected by many material factors, many of which are beyond their respective control.
Such factors include, among other things: risks and uncertainties relating to Great Pacific Gold's limited
operating history, its exploration and development activities on its mineral properties and the need to
comply with environmental and governmental regulations. 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, Great Pacific Gold does not undertake to publicly update or revise forward-looking information.
Neither 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.