Quadro Provides Staghorn Option Agreement and Long Lake Updates
1 4 00 – 1040 West Georgia Street Vancouver, B.C. V6E 4H1 Te l (604) 644 - 9561
QUADRO PROVIDES STAGHORN OPTION AGREEMENT AND LONG LAKE
UPDATES
Vancouver, B.C., August 13, 2024. Quadro Resources Ltd. (“Quadro” or the “Company”)
(TSXV: QRO, OTC Pink: QDROF, FSE: G4O) is pleased to announce that earn-in partner TRU
Precious Metals Corp. ( “TRU”) on its 100% owned Staghorn project recently met its second
anniversary payment obligations under the option agreement by issuing to Quadro $100,000 cash
and $150,000 common shares of TRU.
From T. Barry Coughlan (President & CEO): “We believe that TRU’s decision to proceed with the
option agreement signifies the importance of Quadro’s Staghorn project to TRU’s portfolio of
Newfoundland projects along the Cape Ray Fault. This will allow Quadro to focus its exploration
efforts on its 100% owned Long Lake project . We are very pleased with TRU’s continued
exploration work and we look forward to seeing them unlock the potential of the Staghorn project.
In order to earn an initial 51%, TRU’s commitments will include an aggregate $660,000 of drilling
activities by July 2025”.
Quadro’s 100% owned Staghorn project is located proximal to Calibre Mining Corp.’s Valentine
Gold Mine and AuMEGA Metals Ltd.’s Cape Ray Gold Project. Mineralization hosted on adjacent
and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s
property. The Staghorn property provides an opportunity for new gold discoveries in the emerging
Cape Ray Gold district and is complimentary to Quadro’s Long Lake claims located 35 km
northwest.
LONG LAKE
Further to its March 4, 2024, news release , the Company is pleased to provide an update on the
Long Lake project. Previous work on the property includes soil sampling which outlined a number
of gold anomalies. The historic geochemical survey was part of an on-going volcanogenic massive
sulphide (base metal) program which kept the ground tied up until recently. No foll ow-up was
carried out during that time and the area came open for staking in early 2019. The claims were
staked by the underlying vendors who took two till samples in the area of the higher gold- in soil
anomaly.
Drilling to date includes discovery of a new gold zone intersected from the inaugural exploration
drill program. The drill program consisted of five holes (757 meters) designed to test the Ricky
Gold Target. Intersections included 3.68 g/t Au over 5.4 m from hole R-021-01 on the eastern end
of the target and 31.7 g/t Au over 0.5 m from hole R-021-04 located 500m to the west.
1 4 00 – 1040 West Georgia Street Vancouver, B.C. V6E 4H1 Te l (604) 644 - 9561
The Company has proposed a 2024 exploration program at Long Lake which would include
prospecting additional targets, line-cutting, trenching, geophysics and soil sampling, and drilling.
2024’s primary objective is to continue drilling the discovery area fr om the 2021 inaugural drill
program. The secondary objective is to follow up on anomalous Au, Cu, Pb, Zn, and Ag plus other
results from the 2021, 2022 and 2023 prospecting and soil survey work with the intent to define
new target areas and potentially drill targets.
Qualified Person
Wayne Reid, P. Geo., VP Exploration for Quadro and a qualified person as defined in National
Instrument 43-101, is responsible for this release and supervised the preparation of the information
forming the basis for this release.
About Quadro Resources – Quadro is a publicly traded mineral exploration company with
approximately 28.5 million shares issued and outstanding. The Company’s shares trade on the
TSX Venture Exchange under the symbol “QRO”. Quadro is focused on exploring for gold in
North America. It owns a 100% interest in the Staghorn property, which it has optioned to TRU
Precious Metals Corp.; and owns a 100% interest in the Long Lake property.
On behalf of the board of directors,
Quadro Resources Ltd.
“T. Barry Coughlan”
President and CEO
Tel (604) 644-9561
"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." The information contained herein contains "forward -looking statements" within
the meaning of applicable securities legislation. Forward-looking statements relate to information
that is based on assumptions of management, forecasts of future results, and estimates of amounts
not yet determinable. Any statements that express predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance are not statements of
historical fact and may be "forward-looking statements." Forward-looking statements are subject
to a variety of risks and uncertainties that could cause actual events or results to differ from those
reflected in the forward -looking statements. Investors are cautioned against attributing undue
certainty to forward-looking statements. These forward-looking statements are made as of the date
hereof and the Company does not assume any obligation to update or revise them to reflect new
events or circumstances. Actual events or results could differ materially from the Company's
expectations or projections.” For more information on the Company, interested parties should
review the Company's filings that are available at www.sedarplus.ca.