TRU Acquires 100% Ownership of Altius’ Golden Rose Project
TRU Acquires 100% Ownership of Altius’ Golden Rose Project
Toronto, Ontario – November 30, 2022 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU”
or the “Company”) is pleased to announce that it has concurrently exercised three option agreements to acquire
100% ownership of the Company’s flagship Golden Rose Project (“Golden Rose” or the “Project”), as described
below (Figure 1), located in the highly prospective Central Newfoundland Gold Belt.
TRU Co-Founder & CEO Joel Freudman commented, “Acquiring 100% ownership of Golden Rose earlier than
initially contemplated or required is a testimony to our confidence that there is much more discovery potential to
uncover. Since optioning the Project from TSX-listed Altius Minerals Corporation in May 2021, we have worked
with determination and prudence as we tactically consolidated the most prospective claims within and surrounding
Golden Rose, alongside exploring the Project . We are now the sole owners of this formidable land package ,
flanked on either side by deposit -bearing neighbours. We intend to expand TRU's pipeline of drill -ready targets
across the Project through relatively low -cost, but high -upside, exploration methods, to ultimately prepare for
what we are hopeful will be an exciting 2023 drill program.”
The Company has exercised the following option agreements:
Option Agreements with Altius and Shawn Rose
On May 12, 2021, TRU announced that it had closed a definitive option agreement with a subsidiary of TSX -
listed Altius Minerals Corporation (“Altius”), by which Altius granted to TRU the exclusive right and option (the
“Altius Option”) to acquire, subject to retention by Altius of a maximum 2.0% net smelter return royalty (“NSR”),
its 100% interest in a package of mineral claims located in the southwestern portion of the Central Newfoundland
Gold Belt (the “Altius Claims”).
In connection with the Altius Option, Altius also assigned to TRU a supplementary option agreement under which
Shawn Rose granted TRU the exclusive right and option (the “Rose Option”) to acquire, subject to retention by
Shawn Rose of a 2 .0% NSR, his 100% interest in certain surrounding mineral claims known as the Rose Gold
claims (the “Rose Claims”).
Collectively, the Altius Claims and the Rose Claims formed the initial basis of Golden Rose. The Company has
subsequently more than doubled the size of Golden Rose through a series of other transactions.
TRU has now exercised the Altius Option as well as the accompanying Rose Option by issuing 1,400,000 common
shares of TRU (“TRU Shares”) to Altius at a deemed price of $0.25 per share , and paying $37,500 in cash to
Shawn Rose, pursuant to the terms of the respective option agreements. The Company previously satisfied all
other terms of such agreements, including the requirement under the Altius Option to incur $3,000,000 of
exploration expenditures prior to February 2024.
Figure 1: Golden Rose Project Property Location and Ownership Map
Option Agreement for King George IV Lake Claims
On July 13, 2021, the Company entered into an option agreement with an arm’s length individual under which
TRU was granted the exclusive right and option (the “KG4 Option”) to acquire, subject to retention by the optionor
of a 2.0% NSR, 100% interest in certain claims along the shoreline of King George IV Lake, all of which are
contiguous with Golden Rose. Further details are available in the Company’s press release dated July 14, 2021.
TRU has exercised the KG4 Option by issuing to the optionor 100,000 TRU Shares at a deemed price of $0.08
per share, and an additional 500,000 TRU S hares at a deemed price of $0.08 per share in a shares for debt
transaction in satisfaction of a $40,000 cash-or-shares payment obligation. These payments were due to be made
by July 13, 2023.
About TRU Precious Metals Corp.
TRU (TSXV:TRU; OTCQB:TRUIF) is on a mission to build long-term shareholder value, through prudent natural
resource property development and transactions. TRU is exploring for gold and copper in the highly prospective
Central Newfoundland Gold Belt on its 100%-owned Golden Rose Project, originally optioned from TSX-listed
Altius Minerals. Golden Rose is a regional -scale 236 km2 land package, including a recently-discovered 20 km
district-scale structure, and an additional 45 km of strike length along the deposit -bearing Cape Ray - Valentine
Lake Shear Zone, directly between Marathon Gold’s Valentine Gold Project and Matador Mining’s Cape Ray
Gold Project. In addition, TRU has an option to acquire up to an aggregate 65% ownership interest in two claim
packages covering 33.25 km2 including a 12 km strike length along the Shear Zone within Golden Rose.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital
markets advisory services and proprietary financing. Resurgent works with promising public and pre -public
micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its
portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on
LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Joel Freudman
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: [email protected]
To connect with TRU via social media, below are links:
https://twitter.com/corp_tru
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through
the Junior Exploration Assistance Program.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward -looking statements, including those relating to exploration activities
at Golden Rose. These statements are based on numerous assumptions regarding Golden Rose that are believed
by management to be reasonable in the circumstances and are subject to a number of risks and uncertainties,
including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily
indicative of mineralization hosted on Golden Rose; the exploration potential of Golden Rose and the nature and
style of mineralization; challenges in identifying, structuring, and executing transactions on favourable terms or
at all; risks inherent in mineral explorat ion activities; volatility in financial markets, economic conditions, and
precious metals prices; regulatory approval processes; and those other risks described in the Company’s
continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-
looking statements herein. Investors and others should carefully consider the foregoing factors and should not
place undue reliance on such forward -looking statements. The Company does not undertake to update any
forward-looking statements herein except as required by applicable securities laws.