Loyalist Announces Amendment to Gold Rush Option Agreement to Accelerate the Earning of a 100% Interest
Loyalist Announces Amendment to Gold Rush Option Agreement to
Accelerate the Earning of a 100% Interest
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
Toronto, Ontario – TheNewswire – April 9, 2026 – Loyalist Exploration Limited (CSE: PNGC)
(“Loyalist” or the “Company”) is pleased to announce that has entered into an amendment (the
“Amendment”) to the option agreement dated March 31, 2025 (the “Option Agreement”), as amended by
the amendment agreement dated October 9, 2025, pursuant to which the Company has been granted an
accelerated option (the “ Accelerated Option”) to acquire a 100% interest in the Gold Rush property within
the next 60 days, (the “Gold Rush Property” or the “Property”), located approximately 30 kilometres (“km”)
west of Timmins, Ontario from a prospector (the “Optionor”). The Property is composed of 41 contiguous
mineral claims and is located within the “Timmins Gold Camp”.
The Option Agreement - Amendment
Pursuant to the Amendment, the Accelerated Option may be exercised by paying (in addition to the
payments already made under the Option) to the Optionor (i) cash in the amount of $10,000, within five
business days of the date of execution; (ii) cash in the amount of $20,000 payable within sixty calendar
days of the date of execution; and (iii) the issuance of 4,000,000 common shares in the capital of the
Company (“Shares”). As of the date hereof, the Company has paid to the Optionor 4,000,000 Shares and
$20,000 in connection with the Option. Completion of the Amendment and the issuance of the Shares to
the Optionor is subject to the receipt of all necessary regulatory approvals including the approval of the
Canadian Securities Exchange. All shares issuable pursuant to the Amendment are subject to a hold period
of four months from the date of issuance. All other terms of the Option Agreement remain the same; please
see the Company’s press release dated March 31, 2025.
Errol Farr states “I am very pleased to be working with Robert Laviolette (the Optionor) on the Gold Rush
property. This accelerated purchase brings all four of our properties, Tully, DeSantis, Loveland and now
Gold Rush to a 100% ownership position. I believe Robert is showing significant confidence in Loyalists’
approach to exploring and developing our properties. As we say “Buy Timmins, Mine Timmins.”
Robert Laviolette commented “I’d like to thank Errol and the team behind him who have been working on
building up Loyalist with a great portfolio of projects in the Timmins Gold Camp.”
About Loyalist Exploration Limited
Loyalist Exploration Limited is a mineral exploration company concentrating on acquiring, exploring, and
developing quality mineral properties in Canada. The Company is currently focused on its “Buy Timmins,
Mine Timmins” strategy, with the recent acquisitions of the Tully gold property, the Loveland nickel-copper-
gold property, the Gold Rush gold-silver property, and the DeSantis gold property, all located in the
Timmins, Ontario Mining District. The Company expects to commence a significant mining permit project
at Tully and exploration activities on all four properties as well as expanding the Company’s Timmins based
property portfolio.
For further information please visit the Company's website at www.loyalistexploration.com or
contact:
Loyalist Exploration Limited
Errol Farr, President and CEO
Email: [email protected]
Tel: 647-296-1270
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the
policies of the Canadian Securities Exchange) have reviewed or accept responsibility for the
adequacy or accuracy of this release.
This news release contains "forward-looking information" (within the meaning of applicable Canadian
securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995). Such statements or info rmation are identified with words such as
"anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook",
"foresee" or similar words suggesting future outcomes or statements regarding an outlook and include
statements regarding the planned completion of the Amendment and the Option Agreement and the
Company’s plans for the Gold Rush Property. Factors that could cause actual results to differ materially
from such forward‐looking information include, but are not limited to the Company’s inability to complete
the financings necessary to complete the acquisitions of the Tully property , the Company’s inability to
complete the acquisitions of the Tully property on the timelines anticipated or at all, failure to identify mineral
resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility
study which recommends a production decision, the preliminary nature of metallurgical test results, delays
in obtaining or failures to obtain required governmental, environmental or other project approvals, political
risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties
relating to the availability and costs of financing needed in the future, changes in equity markets, inflation,
changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital
and operating costs varying significantly from estimates and the other risks involved in the mineral
exploration and development industry, an inability to complete the Offering on the terms or on the timeline
as announced or at all, capital market conditions, restriction on labour and international travel and supply
chains, and those risks set out in the Company’s public documents filed on SEDAR+. Although the
Company believes that the expectations reflected in the forward-looking information or statements are
reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-
looking statements because the Company can provide no assurance that such expectations will prove to
be correct. Forward-looking information and statements contained in this news release are as of the date
of this news release and the Company assumes no obligation to update or revise this forward -looking
information and statements except as required by law.