Rockland Announces Letter of Intent for Option Agreement Over Pipestone Bay Project with Evolution Mining
Vancouver, British Columbia – TheNewswire - July 29, 2026 - Rockland Resources Ltd. (the “Company” or "Rockland") (CSE: RKL) (OTCQB: BERLF) (FSE: GB2) is pleased to announce the signing of a Letter of Intent (“LOI”) with a subsidiary of Evolution Mining Limited (ASX: EVN) (“Evolution”) to acquire an interest of up to 70% in Evolution’s Pipestone Bay Project that adjoins Rockland’s Cole Gold Mines Project in the west Red Lake region of Ontario.
The large land package consists of ~2,850 hectares and adjoins the Cole project on both the west and south borders, significantly expanding and enhancing Rockland’s exposure to this highly prospective and undertested portion of the Red Lake greenstone belt. The Pipestone Bay property is host to numerous high-grade exploration targets and showings and provides complete coverage of the large magnetic anomaly under Pipestone Bay that is interpreted to potentially represent a large intrusive body.
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Cumulative terms of the non-binding LOI call for Rockland to issue up to 500,000 shares and to incur up to $11.5 million over a 5.5-year term. Evolution has the right to reacquire from Rockland, such an interest, that results in Evolution’s Project ownership becoming 70%, by paying 1.5 times incurred relevant expenditures (subject to Rockland defining a Mineral Resource containing at least 1.5 million ounces of gold or equivalent). A definitive agreement is expected to be finalized in the coming month with an exploration campaign to test the collective property immediately thereafter.
Qualified Person
Disclosure of a technical or scientific nature in this news release has been reviewed and approved by Donald Hoy, M.Sc., P.Geo., a Qualified Person under the definition of National Instrument 43-101 and a consultant to Rockland Resources.
About Rockland Resources Ltd.
[ANNOTATION:
BY 'Claude'
ON '2026-07-21T22:03:00'C
NOTE: 'Naming inconsistency: lead paragraph says 'Cole Gold Project'; here it's 'Cole Gold Mines project'. Pick one defined term throughout. Left unedited since I don't know which is the correct/registered name.']Rockland Resources is committed to unlocking value through focused mineral exploration and discovery. The Company's flagship project is the historic Cole Gold Mines project in the prolific Red Lake district of Ontario. By leveraging geological expertise, disciplined exploration and strategic project development, Rockland Resources aims to deliver meaningful growth and long-term value to its shareholders.
We seek Safe Harbor.
About Evolution Mining Limited
Evolution Mining is a leading, globally relevant gold miner. Evolution operates six mines, comprising five wholly-owned mines – Cowal in New South Wales, Ernest Henry and Mt Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada, and an 80% share in Northparkes in New South Wales.
On Behalf of the Board of Directors
Michael England, CEO & Director
For further information, please contact:
Mike England
Email: [email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
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