Trans Canada Gold enters into an Option Agreement with Bear Mountain Gold Mines to acquire a 60% Interest in the Harrison Lake District Scale Gold Property, with $10.0 Million dollars in Prior Exploration Expenditures __________________________________________________________________________________
TRANS CANADA GOLD CORP.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
February 4, 2026 TSX-V Trading Symbol: TTG
OTCQB Symbol: TTGXF
______________________________________________________________________________________
Trans Canada Gold enters into an Option Agreement with Bear Mountain Gold Mines to
acquire a 60% Interest in the Harrison Lake District Scale Gold Property, with $10.0 Million
dollars in Prior Exploration Expenditures
____________________________________________________________________________________
VANCOUVER, B.C. – Trans Canada Gold Corp . (TSX-V: TTG, OTCQB -TTGXF) (“Trans Canada ” or the
“Company”), is pleased to announce that the Company has entered into a n arm’s length five-year
Option Agreement on February 2nd, 2026, to acquire a 60% interest subject to a 2% net smelter returns
royalty (“NSR”) in a district scale gold project called the Harrison Lake Gold Property ( 5,068 ha) located
near Harrison Lake, situated in south -western British Columbia, Canada (The “Property”), with Bear
Mountain Gold Mines (“BMGM”). The terms include paying $250,000 CDN in cash to BMGM, incurring
5,000,000 in exploration and drilling expenditures, and issuing 10,000,000 share s of the Company ’s
common stock to BMGM, over a 5-year period. The transaction is conditional on TSX Venture Exchange
(“TSXV”) approval and completion of a financing which is currently pending . The Company can earn its
interest by making the following payments and incurring the following expenditures:
(a) paying $50,000 and issuing 2,000,000 common shares to BMGM on the date that is 5 business
days following TSXV approval of the Option Agreement (the “Option Date”);
(b) paying an additional $50,000 and issuing an additional 2,000,000 common shares to BMGM,
and incurring $600,000 in exploration expenditures on the Property on or before the first
anniversary of the Option Date;
(c) incurring an additional $900,000 in exploration expenditures on the Property on or before
September 23, 2027;
(d) paying an additional $50,000 and issuing an additional 2,000,000 common shares to BMGM on
or before the second anniversary of the Option Date;
(e) paying an additional $50,000 and issuing an additional 2,000,000 common shares to BMGM,
and incurring an additional $1,000,000 in exploration expenditures on the Property on or before
the third anniversary of the Option Date;
(f) paying an additional $50,000 and issuing an additional 2,000,000 common shares to BMGM,
and incurring an additional $1,000,000 in exploration expenditures on the Property, on or
before the fourth anniversary of the Option Date; and
(g) incurring an additional $1,500,000 in exploration expenditures on the Property prior to the fifth
anniversary of the Option Date.
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The initial payment of $50,000 and issuance of 2,000,000 shares to BMGM are firm commitments and
must be made regardless of whether the Company exercises the option in full.
BMGM will carry out all exploration operations on the Property in accordance with work programs
prepared by BMGM and approved by an operations committee including two or more representatives
of the Company and one representative of BMGM . BMGM will act as an independent contractor and
will be entitled to charge an administrative fee equal to 10% of the expenditures incurred from time to
time (which administrative fee will form part of the expenditures for the purposes of meeting the
expenditure requirements under the Option Agreement).
BMGM holds the Property pursuant to an underlying option agreement with Omineca Mining and Metals
Ltd. The Company holds its option as a "sub -option" subject to the terms of the underlying o ption
agreement, pursuant to which the Property is subject to a 2% net smelter return royalty and up to
$800,000 in annual $200,000 special royalty payments on the occurrence of certain events. The Option
Agreement requires that at least 50% of expenditures incurred must be incurred in a specified area. The
Option Agreement also contains an area of interest provision pursuant to which any interest acquired
by a party within three kilometers of the outer boundaries of the Property (including mineral claims,
licenses, water rights, surface rights, exploration permits or other interests) become part of the Property
and subject to the terms of the Option Agreement.
Under the terms of the Option Agreement, upon exercise of the Option and earning of a 60% interest by
the Company, further development of the Property will be carried out under 2 separate joint ventures
(each covering a separate area of the Property) between the Company and BMGM.
Pursuant to the Option Agreement, BMGM has agreed to vote all the shares of the Company it holds in
favour of resolutions recommended by management of the Company at meetings of the Company’s
shareholders.
The Harrison Lake Gold Project hosts a seven-kilometer-long ridge, in a District scale gold property that
contains extensive intrusive related gold mineralization . Local prospectors discovered and partially
mined a high -grade vein (called the RN Mine) in the northern part of the current Property in the late
1970’s and Vancouver based Abo Oil Corp and Kerr Adisson Mines (“Kerr Adisson”) optioned the claims
in the early 1980’s. Preliminary work identified “gold in soil” anomalies near the discovery and follow
up drilling intersected wide intervals of stockwork type mineralization within small diorite intrusions
(called the Jenner and Portal Zones) including DDH 84-52: 102 meters of 3.54 g/t. In 1986 Bema
International Resources (“Bema”) acquired Abo Oil and entered into a joint venture agreement with Kerr
Addisson Mines that funded approximately $7 million in exploration drilling and underground
development work.
The exploration work funded by Bema and Kerr Adisson was primarily focused on the Jenner and Portal
Zones but also identified a corridor of similar diorite intrusions and “gold in soil” anomalies that extended
for more than two kilometers to the south of the original discovery. Follow up drilling of some of these
anomalies identified more diorite hosted stockwork type mineralization including the Hill Zone which
reportedly returned 30 meters of 3 .0 g/t gold . Approximately 20,000 meters of historic drillin g and
several hundred meters of underground development work were completed by Bema and Kerr Adisson,
but the claims lapsed in 2000 and were re -staked by Eagle Plains Resources (and subsequently
transferred to Omineca Mining and Metals as part of a corporate restructuring in 2006).
Based on the drilling completed above the 50 meter ASL level Norman, (1989), Summary Report of the
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Harrison Gold Project, New Westminster Mining Division, Harrison Lake, British Columbia, using a one
gram cut-off grade for the Jenner Zone and a 2 gram cut-off grade for the Portal Zone estimated that the
Jenner and Portal Zones contain 2,458,674 tons at an average grade of 2.79 g/t or 220,300 ounces. This
historical estimate is relevant to the Harrison Gold Property as it suggests there may be mineralization
present. However, this estimate does not use the resource categories as defined by CIM and the
differences to the CIM categories are not known. The qualified person has not done sufficient work to
classify the historical estimate as a current mineral resource. The Company is not treating the historical
estimates as a current mineral resource.
The estimate for the Jenner Zone was based on a total of 2,920 meters of inclined diamond drilling in
21 surface holes and 2,754 meters of vertical and inclined diamond drilling in 23 underground holes.
The drilling was completed during the period 1983 to 1988. Drill holes are variously oriented east-west,
north-south and at several off-sectional azimuths. According to Norman, drill hole information is
relatively sparse in the north half of the stock (north of 9500 N) and little drilling was done below the
50 meter level (ASL).
The previously described gold zones established the basis from which Norman estimated a number of
separate categories. His methods of mineral (resource) block delineation and other (resource)
estimation procedures are outlined in point form below: Parameters of the tonnage/grade calculation
were as follows, as summarized by Norman, (1989).
• The sectional method of mineral reserve (“Mineral Resource”) estimation was employed because
of the predominantly low -angle structural characteristics of the mineralized vein systems and
interpreted gold zones.
• Gold histograms, which show natural assay "breaks' down a drill hole, were relied upon for
determining the length over which an average assay would be calculated.
• In general, for averaging purposes, the minimum drill intercept considered was 3 meters at a 1.0
g/t Au cut -off. In some cases, where immediately adjacent drill hole information indicated
continuity, intercepts of less than 3 meters averaging marginally le ss than 1 g/t Au were used to
delineate gold zone boundaries, (e.g. 0.94 g/t Au).
• Zones of internal waste consisting of 5 or more consecutive one meter sample intervals, each
assaying less than 1.0 g/t Au, were not included in reserve blocks.
• All mineralized intercepts, including those encountered in north -south and off -sectional drilling
(the latter included JNUG 84 -29 to 84 -30 and 88 -118) were accounted for on east -west mineral
reserve (“Mineral Resource”) block sections. This was done by pro jecting the midpoint of the
mineralized intercept to the appropriate section. In some cases, in order to preserve geological
integrity intercept midpoints were projected to certain sections even though their location may
have been up to as much as 5 meters beyond the "window of influence" for that section.
• Reserve (“Mineral Resource”) blocks containing more than one assay intercept, projected or
otherwise, were assigned a grade equal to the weighted average of all included intercepts.
• Probable resource blocks were established by projecting block boundaries a distance of 15 meters
away from the mid- point of the drill intercept. Direction of projection was parallel to the inferred
contacts of the interpreted mineralized zones.
• Possible resource blocks were established by projecting block boundaries an additional 30 meters
beyond the outer limit of probable block boundaries. The grade assigned was the same as that of
the adjacent probable block.
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• Where adjacent sectional information indicated the likelihood that a given mineralized zone would
extend to the margins of the stock, possible resource blocks, (with no assigned grade) were
established beyond the limits of those defined under paragraph 3. Similarly, where adjacent
sectional information demonstrated continuity of a gold zone into an area with no drill hole
information, a possible resource block (again with no assigned grade) was established.
• The bisectrix of the angle between adjacent drill holes on the same section formed resource block
boundaries.
• The length of sectional projection was one-half the distance between adjacent sections, except for
the southern and northernmost sections (9450 N and 9575 N respectively), the distance of
projection was limited by the margin of the stock.
• Xenoliths were assigned as waste unless indicated otherwise by drilling.
• Since there was no east -west sectional information to the north of 9500 N, it was necessary to
construct projected mineral reserve (“Mineral Resource”) block sections based on north-south and
off sectional drill hole information. The method of projection o f assay intercept midpoints was as
in that described in point 5.
Jenner Zone
A summary of the estimate for the Jenner zone from Norman’s 1989 study is shown as follows:
Table 6.3.1: Historical Tonnage and Grade Estimate for the Jenner Zone
Mineralized Zone Resource
Category
Resource
Tonnes
Grade
Au g/t
Jenner Stock “Probable Resource” 1,344,000 2.67
Jenner Stock “Possible Resource” 457,000 2.83
Portal Zone
The total amount of drilling to 1989 on the Portal Stock was 6,978 meters (22,895 feet) in 50 drill holes.
In 1983, when most of the drilling was done on the Portal Zone, the geometry of the Portal Stock was
not well known, and diamond drilling, exploratory in nature, produced a seemingly random drilling
pattern. This random aspect created numerous interpretational problems on cross-sections and level
plans through the stock. Additional diamond drilling by Bema during the fall of 1988 concentrated on
the eastern portion of the stock (east of 11040 E) which had produced the best gold mineralization
intercepts to date.
According to Norman, (1989), geological level plans and surface mapping showed that the stock could
be divided into two distinct geological domains. The western portion of the stock is roughly circular,
with an average diameter of 140 meters and fairly smooth or regular contacts. The eastern portion of
the Portal Stock is dyke-like, narrowing from approximately 100 meters in the west to 40 to 50 meters
near the eastern contact, and has irregular contacts. East - west oriented vertical geological sections
constructed by Bema geological personnel suggest the entire stock is plunging approximately 70° to
the east.
Similar Probable and Possible categories were calculated, as for the Jenner Zone, with “probable
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reserves” defined by projection of a known drill intercept up to 15 meters outward and “possible
reserves” defined by projection of the probable block boundaries an additional 30 meters. The
resource parameters were identical to those used in the Jenner study.
Table 1.3.2: Historical Resources Estimate at Portal Stock
Mineral Zone Category Tonnes* Grade Au g/t
Portal Stock “Probable Resource” 500,000 3.12
Portal Stock “Possible Resource” 157,000 2.69
* rounded from Norman’s original numbers
Table 6.3.3: Combined Jenner and Portal Zone Historical Resources Estimates
Mineral Zone Category Resource
Tonnes
Grade g/t
Au
Grams Ounces
Jenner zone “Probable and Possible” 1,801,134 2.71 4,876,635 156,710
Portal zone “Probable and Possible” 657,753 3.02 1,984,324 63,766
All the Norman resource estimates are uncut and undiluted, with a 1.0 g/t gold cut -off used for the
Jenner Zone. A cut -off grade of 2.0 g/t gold was used for the Portal Zone. The conversion from grams
to ounces is at 31.119 grams per ounce. Stated ounces are in-situ and would be diminished on production
by a number of recovery factors which cannot be calculated at this time.
This historical estimate is relevant to the Harrison Gold Property as it suggests there may be
mineralization present. However, this estimate does not use the resource categories as defined by CIM
and the differences to the CIM categories are not known. The qualified person has not done sufficient
work to classify the historical estimate as a current mineral resource. The Company is not treating the
historical estimates as a current mineral resource.
In 1987, N.C. Croome, P.Eng. of L.J. Manning and Associates completed an engineering study of the
mining potential of the Jenner Zone at the Harrison Gold property, in consultation with G. Hawthorne,
P.Eng., Mineral Processing Engineer.
During the early 2000’ s well known geologists including Jean Pautier, Charles Downie and, Barry Price
recognized that the style of mineralization is similar to the gold deposits of the Tintina Gold Belt that
straddles the Yukon – Alaska border and also recognized that the mineralized diorite intrusions are
localized along a regionally extensive shear zone adjacent to a large diorite batholith. Snowline Gold’ s
recent discovery of the Valley deposit, clearly demonstrates the potential of these types of occurrences.
In 2011 the current operator staked the ground to the south of the Omineca claims and optioned the
former Bema Property to cover the entire 7-kilometer strike length of the Harrison Lake Shear Zone that
is adjacent to the Hicks Batholith. Soil geochemical surveys completed between 2012 and 2018
confirmed the presence of significant, untested “gold in soil” anomalies within the Omineca claims and
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identified multiple additional “gold in soil” anomalies along the entire seven -kilometer strike length of
the Harrison Lake Shear Zone. In addition to expanding the Property, the current operator has updated
the project database to modern standards, rehabilitated the underground workings, identified multiple
low impact development options and obtained permitting for underground sampling and drilling.
It is also important to note that the historic drilling also intersected significant, high grade gold
mineralization within the Jenner and Portal Zones including DDH 88-76 which intersected 7.0 meters
averaging 21.4 g/t and DDH 88 -121 which intersected 9.0 meters averaging 13.5 g/t. (Note: the
intercept in DDH 88 -121 is more than 50 meters vertically below the historic resource estimate and
requires additional drilling).
Additional targeted drilling is expected to verify the historic results and potentially identify multiple
additional gold mineralized zones. The property has easy access to the Trans -Canada Highway, related
Hydroelectric power and rail service and infrastructure, and has a close proximity to several
communities, including Chilliwack, British Columbia. Exploration drilling a nd underground sampling
activities for the Bear Mountain Project are fully permitted for 2026-27.
The mineralized diorite stocks that have been identified on the Harrison Gold property are assumed to
be genetically related to the 25 km2 Hicks Lake Batholith (dated at 24.5 Ma). BC Government maps show
that the western contact of the Hicks Lake Batholith is roughly parallel to the Hicks Lake Structural Zone
(HLSZ) and approximately one kilometer to the east. The segment of the HLSZ that extends through Bear
Mountain is 7 kilometers long and up to 2 km wide. It has been confirmed in multiple historic tech nical
reports that follow up drilling of “gold in soil anomalies” resulted in the discovery of several mineralized
zones. The apparent structural controls on the emplacement of diorite intrusions within Bear Mountain
appear to have created an NNW-SSE tren ding corridor of prospective diorite and quartz diorite
intrusions.
HARRISON LAKE GOLD DISTRICT SCALE GOLD PROJECT- GOLD AND EXPLORATION HIGHLIGHTS
The Harrison Lake Gold Project contains a 7-kilometre-long ridge with diorite/ quartz bearing extensive
intrusive related gold mineralization , situated near Harrison Lake, British Columbia. Historical drilling
results confirm the presence of significant high-grade gold mineralization.
• The Harrison Lake Mineral claims ( 5,025 ha or 7475 acre) are fully road accessible from the
TransCanada Highway and Highway 7 in southwestern British Columbia, with numerous
secondary logging roads and related power and rail service.
• The property c overs a 7-kilometre strike length of the gold rich Harrison Lake Structural Zone ,
with stockwork type gold mineralization within diorite intrusions (Jenner and Portal Zones)
including DDH-84-52: 102 meters of 3.54 g/t gold.
• Jenner and Portal Zones include DDH 88-76 which intersected 7.0 meters averaging 21.4 g/t and
DDH 88-121 which intersected 9.0 meters averaging 13.5 g/t. (Note: the intercept in DDH 88 -
121 is more than 50 meters vertically below the historic resource estimate and requires
additional drilling).
• A corridor of similar diorite intrusions and “gold in soil” anomalies that extend s for more than
two kilometers to the south of the original discovery. Follow up drilling of some of these
anomalies identified more diorite hosted stockwork type mineralization including DDH 88-130
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which tested the Hill Zone and reportedly returned 30 meters averaging 3.0 g/t.
• The style of mineralization is similar to the gold deposits of the Tintina Gold Belt that straddles
the Yukon – Alaska border and it has also been recognized that the mineralized diorite intrusions
are localized along a regionally extensive shear zone adjacent to a large diorite batholith.
Snowline Gold’ recent discovery of the Valley deposit clearly demonstrates the potential of these
types of occurrences
• Over $10.0 Million dollars in previous exploration drilling expenditures.
• Drilling Permits have been approved and granted by the Province of British Columbia for 2026-
2027
Commented President & CEO Tim Coupland, “We are acquiring the Harrison Lake Gold project with over
$10.0 million dollars in prior drilling and exploration expenditures, and a 220,000 oz. historic gold
resource, that is fully permitted for diamond drilling , in a precious metals super -cycle where gold has
now exceeded $5,000 oz. for the first time in history. We are utilizing the gold experience of our newly
appointed Exploration Manager, Mr. Magrum P. Eng , a seasoned exploration professional proficient in
targeted gold exploration drilling, with the expectation of drilling and delivering another gold producer
added to his list of achievements to the Canadian mining markets. Mr. Magrum is joining our company
at a time when we are entering a long -term precious metals Super-cycle especially when gold and silver
prices are substantially above historical norms driven by powerful, structural economic forces.”
Michael Magrum P. Eng. is the Company’s Exploration Manager and as its key technical advisor (as a
Qualified Person under National Instrument NI #43-101). Mr. Magrum will be responsible for overseeing
the technical management of all Trans Canada Gold’s mineral properties, and will be carrying out all
requisite oversight for all new gold exploration drilling. Mr. Magrum is a seasoned geological engineer,
who is recognized as professional . He prefers aggressive targeted drilling programs that have the
potential to deliver gold deposits. Mr. Magrum has over 40 years of gold exploration and drilling
experience, and has worked extensively in gold and mineral exploration and mining since 1971, starting
his career in the Yellowknife Gold Mining Camp.
Mr. Magrum is a graduate of the Haileybury School of Mines, and a graduate of the University of Alaska
and has worked extensively in Canadian and international gold exploration. His worldwide experience
in identifying gold exploration and mining opportunities, has exposed him to most gold and silver deposit
types. He was a former director of Seabridge Gold Inc. , which acquired a gold property portfolio
containing significant gold resources. He is presently a director of Rochester Resources Ltd., a silver/gold
producer currently operating in Mexico. Mr. Magrum has also served as a director of the Prospector and
Developers Association of Canada, and also a former President of the Northwest Territories Chamber of
Mines, a Mining Industry Association and lobby group.
The Company has completed its rigorous due diligence, claim verifications, drill permit confirmations,
required due diligence, with gold property owners and vendors , as required in making a strategic gold
property acquisition with a historical gold resource. The Company intends to utilize its experienced gold
mineral exploration team, to drill, expand and advance the large-scale gold property and capitalize on
the current prevailing gold price and soaring precious metal market conditions.
Michael Magrum, P. Eng, exploration manager for the Company and a qualified person as defined by
National Instrument 43-101, has reviewed and approved the scientific and technical information used in
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this news release.
Further to its news release dated January 20, 2026, the Company wishes to clarify that it has appointed
Michael Magrum as its Exploration Manager and not as its Vice-President of Mining.
$1.5 Million Dollar Non-Brokered Private Placement
The Company also a nnounces a non -brokered private placement financing of 1 0,000,000 units (the
“Units”) at a price of CDN $0.15 per Unit to raise gross proceeds of up to CDN $1,500,000 (the “Offering”).
Each Unit will consist of one (1) common share and one (1) common share purchase warrant, each
warrant is exercisable at a price of $0. 30 per share for a period of three (3) years from the date of
issuance. The Offering is subject to approval from the TSX Venture Exchange and all of the securities
issued pursuant to the Offering will be subject to a four month hold period from the date of issue in
accordance with applicable securities laws.
The Company has agreed to pay a finders’ fee to arm’s length parties for services rendered in respect of
the Offering. The finder’s fee will consist of a cash fee equal to 6% of the gross proceeds of the Offering
and finder’s warrants equal in number to 6% of the units sold under the Offering. Each finder’s warrant
will entitle the holder to acquire one common share of the Company at a price of $0. 30 per share for a
period of three (3) years from the date of issuance.
The Company intends to use the proceeds of the Offering for due diligence and other costs related to
the acquisition of the Property ($50,000) , initial acquisition costs payable to BMGM under the Option
Agreement ($50,000), year 1 exploration expenditures on the Property ($600,000) , a reserve for year 2
exploration and acquisition costs for the Property ($600,000) and general working capital ($200,000)..
Year 1 expenditures on the Property are budgeted as follows: upgrading core logging facility ($25,000),
completing required underground rehab and drill site prep ($100,000), completing minimum 1,000
meters of underground drilling ($150,000), ATV trail and drill road upgrades ($50,000), completing
minimum 500 meters Hill Zone and Portal Zone ($75,000), equipment rentals and consumables
($50,000), drill program supervision, assaying and reporting ($50,000), contingency ($100,000).
In addition to other prospectus exemptions commonly relied on in private placements, the Offering will
be available to existing shareholders of the Company who, as of the close of business on February 2nd ,
2026, held common shares of the Company (and who continue to hold such common shares as of the
closing date), pursuant to the prospectus exemption set out in BC Instrument 45 -534 - Exemption From
Prospectus Requirement for Certain Trades to Existing Security Holders and in similar instruments in other
jurisdictions in Canada (the “ Existing Shareholder Exemption ”). The Existing Shareholder Exemption
limits a shareholder to a maximum investment of CAD$15,000 in a 12 -month period unless the
shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is
resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an
investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the
Existing Shareholder Exemption exceeding the maximum Offering, th e Company may adjust the
subscriptions received on a pro-rata basis.
The Company will also make the Offering available to certain subscribers pursuant to BC Instrument 45-
536 - Exemption from Prospectus Requirement for Certain Distributions Through an Investment Dealer
(the “Investment Dealer Exemption ”). In accordance with the requirements of the Investment Dealer