2025_02_06_MRN_NR_Sankamap Acquisition
MACLAREN MINERALS TO ACQUIRE SANKAMAP PROPERTIES IN THE SOLOMON ISLANDS
Not for distribution to United States newswire services or for
dissemination in the United States.
Vancouver, British Columbia, February 6, 2025, Maclaren Minerals Ltd. ( CSE:MRN) (the “Company”)
is pleased to announce that it has entered into a definitive agreement (the “Agreement”) dated February
6, 2025 to acquire a 100% interest in Sankamap Exploration Inc. (“Sankamap”). The Sankamap properties
include the Fauro Gold (Au) Project (“Fauro”) and the Kuma Copper-Gold (Cu-Au) Project (“Kuma”), both
located in the Solomon Islands along the same trend as significant Cu -Au porphyry and epithermal
deposits, including Newmont’s Lihir Mine (71.9 Moz Au 1) and the Panguna Mine (19.3 Moz Au + 5.3 Mt
Cu2) (the “Acquisition”).
The 4,300-hectare Kuma project is situated 37 km southeast of Honiara, the capital city of Guadalcanal
Island, Solomon Islands. Historical exploration at Kuma has identified large -scale Cu-Au mineralization
and promising indicators of a potential porphyry deposit, which remains untested by drilling. The 14,700 -
hectare Fauro project is located on Fauro Island in northern Solomon Islands; past exploration has defined
epithermal-type mineralization, with trenching results of up to 8 meters of 27.95 g/t Au and drilling
intercepts of up to 11 meters of 4.03 g/t Au.
Incoming CEO John Florek comment ed: “This acquisition presents a unique opportunity to capitalize on
two projects within an underexplored trend in the circum -Pacific region, renowned for its potential for giant
Cu-Au mines. This trend hosts world-class porphyry and epithermal Cu-Au deposits, with Lihir and Panguna
located along the same structural corridor. Lihir, in particular, is considered the world’s richest gold deposit,
with an estimated 71.9 million ounces (Moz) of gold1. We are excited to explore both of these project areas.”
The Acquisition will be completed by way of the acquisition of all the outstanding equity interests of
Sankamap, a private arm’s length British Columbia company which holds the interest in the Sankamap
properties. Pursuant to the Agreement, the Company has agreed to issue 16, 625,000 common shares in
the capital of the Company (each, a “ Consideration Share ”) to the shareholders of Sankamap in
exchange for all the issued and outstanding common shares of Sankamap at a deemed price of $0.06 per
Consideration Share for total deemed consideration of $997,500. The Acquisition is an arm’s length
transaction. No finder’s fee is payable in connection with the Acquisition. The Consideration Shares are
not expected to be subject to any hold periods pursuant to securities laws in Canada and the policies of
the CSE. Closing is expected to occur on February 14, 2025.
In addition to customary conditions associated with such a transaction, the Agreement provides that the
closing is subject to the following conditions: (i) receipt of al l necessary regulatory approvals; ( ii) each of
the board of directors of the Company and Sankamap having approved the Acquisition; and (iii) the
Company being satisfied with the results of its due diligence regarding Sankamap and its assets.
Upon closing of the Acquisition, it is anticipated that John Florek, current CEO of Sankamap, will be
appointed CEO of the Company, replacing incumbent CEO and President Gary Musil, and that John Alcock
and Jim Greig will be appointed to the Company’s board of directors, replacing James Place and Dianne
Szigety, and joining incumbent directors Gary Musil and Nancy Kawazoe. Upon closing, the Company’s
audit committee is expected to be comprised of Gary Musil, John Alcock and Jim Greig.
None of the securities issued in connection with the Acquisition wil l be registered under the United States
Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United
States absent registration or an applicable exemption from the registration requirements of the 1933 Act.
This press release shal l not constitute an offer to se ll or a solicitation of an offer to buy nor sha ll there be
any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
1. Newcrest Technical report, 2020 (23 Moz Au P+P, 39 Moz gold indicated, 5Moz measured, 4.9 Moz Au
Inferred).
2. https://www.rtgmining.com/panguna (16.1 Moz Au and 4.6 Mt Cu indicated, 3.2 Moz Au and 00.7 Mt
Cu inferred).
National Instrument 43-101 Disclosure
John Florek, M.Sc., P.Geol., is a qualified person as defined by National Instrument 43 -101- Standards of
Disclosure for Mineral Projects. Mr. Florek has reviewed and approved the technical content in this release.
Mineralization on the Lihir and Panguna properties is not necessarily indicative of the mineralization on the
Sankamap properties. The qualified person has been unable to verify the information.
About Maclaren Minerals
Maclaren Minerals Ltd. is Canadian mineral exploration company focusing on the discovery and
development of high -grade copper and gold deposits in the south Pacific. The fully permitted assets of
Sankamap are strategically located in the Solomon Islands along trend of major Cu -Au deposits including
Newmont’s Lihir Mine 71.9 Moz Au1.
With a commitment to responsible exploration and a team of experienced professionals, Sankamap aims
to unlock the untapped potential of underexplored regions and create substantial value.
On behalf of the board of directors of the Company
“Gary Musil”
Gary Musil
Chief Executive Officer and Director
Maclaren Minerals Ltd.
T: 604-787-7356
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE
CONTENT OF THIS PRESS RELEASE.
Cautionary Note Regarding Forward-Looking Statements
Certain statements made and information contained herein may constitute “forward -looking information”
and “forward-looking statements” within the meaning of applicable Canadian and United States securities
legislation. These statements and information are based on facts currently available to the Company and
there is no assurance that the actual results will meet management’s expectations. Forward -looking
statements and information may be identified by such terms as “anticipates,” “believes,” “targets,”
“estimates,” “plans,” “expects,” “may,” “will,” “could” or “would.” Forward-looking statements and information
in this news release include statements with respect to the Acquisition, including the terms, closing, timing
and perceived benefits, and the aims of Sankamap.
Forward-looking statements and information contained herein are based on certain factors and
assumptions regarding, among other things, the estimation of mineral resources and reserves, the
realization of resource and reserve estimates, metal prices, taxat ion, the estimation, timing and amount of
future exploration and development, capital and operating costs, the availability of financing, the receipt of
regulatory approvals, environmental risks, title disputes and other matters. While the Company considers
its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not
guarantees of future performance and readers should not place undue importance on such statements as
actual events and results may differ materiall y from those described herein. The company does not
undertake to update any forward-looking statements or information except as may be required by applicable
securities laws.