Zeus North America Mining Corp. Signs Letter of Intent to Acquire the Delker and Bulls Eye Copper-Gold Properties, Nevada, USA
Zeus North America Mining Corp.
1100 - 1199 West Hastings Street Vancouver, BC, V6E 3T5
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Zeus North America Mining Corp. Signs Letter of Intent to Acquire
the Delker and Bulls Eye Copper-Gold Properties, Nevada, USA
VANCOUVER, BRITISH COLUMBIA, JUNE 11, 2025 – ZEUS NORTH AMERICA
MINING CORP. (CSE: ZEUS) (OTCQB: ZUUZF) (FRANKFURT: O92) (THE
“COMPANY” OR “ZEUS”) is pleased to announce it has signed a binding Letter of Intent
(“LOI”) dated June 9, 2025 to acquire a 90% interest in both the Delker and Bulls Eye copper-
gold (“Cu-Au”) properties in northeast Nevada, USA.
About the Delker Property:
• The Property is located approximately 79 kilometers (“km”) from the town of Elko Nevada
(see Figure 1);
• Adjacent to Ridgeline Minerals Corp’s Big Blue Porphyry and carbonate replacement
(“CRD”) style Cu-Au-silver (“Ag”) ± lead-zinc (“Pb-Zn”) project. Ridgeline is currently
drilling on the western flanks of the historic Delker Butte mine which is testing both high-
grade Cu-Au skarn and potential porphyry Cu -Au targets at depth. The past producing
Delker Mine, which produced 94,434 pounds of copper at an average grade of 6.2% Cu
between 1916-1917 (*Smith, R.M., 1979) , shares its northern boundary with the Delker
property and the southern boundary with Reyna Silver’s Medicine Springs Ag-Pb-Zn CRD
project;
• The Property is within Elko County and consists of 400 Bureau of Land Management
(“BLM”) claims and there are no protected areas within the Property;
• Nevada was ranked the world’s top mining jurisdiction by the Fraser Institute in 2022;
• The Property is road accessible and can be worked year-round;
• The Property lies within the “new base metal trend” in Nevada (see Figure 2);
• The Property l ies within the Dolly Varden -Delker Butte Cretaceous to lower Jurassic
intrusive Belt. The regional geologic setting is generally composed of Jurassic intrusive
rocks intruding the Paleozoic Carbonate Shelf sequences of limestone and dolomites. This
region is the host to various mineralization styles such as porphyry-style, Cu-skarn, CRD,
and sediment/carbonate hosted and Carlin-type gold mineralization;
• Most of the recent exploration in the area was focused on gold. Companies that held claims
within and around the Delker Property include Newmont USA , Nevada Gold , Pegasus
Gold Corp., Kinross Gold, and Battle Mountain Gold.
• Historic surface work included 114 surface (soil) samples collected by Pegasus Gold Corp.
within a small portion of the Delker Property which were analyzed for Au and As .
Seventeen samples returned greater than (“>”) 0.1grams per tonne gold (“g/t Au”) up to
2.8 g/t Au;
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• Historical surface work by GHK (1980) at the Delker Hill area within the Property included
eight rock grab samples containing >0.2 g/t Au, having a peak value of 2.33 g/t Au;
• Historical shallow drilling (less than 100m drill holes) within the West Buttes area by
Pegasus Gold Corp. resulted in broad zones with anomalous Au including:
• WB-1: 9.14m of 0.74 g/t Au including 4.57m of 1.30 g/t Au;
• WB-4: 35m of 0.32 g/t Au including 1.52m of 0.45 g/t Au, 0.58 g/t Au, and 0.42
g/t Au, 4.57m of 0.41 g/t Au and 0.66 g/t Au;
• WB-5: 6.10m of 0.24g/t Au; 13.72m at ~0.56 g/t Au, including 4.57m of 3.86 g/t
Au;
• WB-18: 7.62m at ~0.22g/t Au including 1.52m of 0.57 g/t Au;
• Recent surface samples collected by NV Resources within the Property included six rock
grab samples containing >1.8 per cent (“%”) Cu, up to 14.8% Cu (pXRF) and 13 rock grab
samples containing greater that 1% Cu up to 7.8% Cu (American Assay Laboratories);
• The Property is underlain by a regional magnetic feature(s) that are interpreted to be part
of an underlying metals -bearing intrusive event (porphyry target) and a potential heat
source responsible for skarn-type mineralization in the Delker Buttes and Delker Hill areas,
and the precious metal mineralization throughout the Medicine Range.
About the Bulls Eye Property:
• The Property is located approximately 79 kilometers (“km”) from the town of Elko
Nevada, 17 km north of the Delker Property;
• The Property is within Elko County and consists of 40 BLM claims and there are no
protected areas within the Property;
• The Property is underlain by a coincidental magnetic high and gravity high suggesting a
potential buried porphyry.
Future Exploration:
• Full data compilation for both properties;
• Surface mapping;
• Surface soil and rock grab sampling program;
• Ground geophysics including but not limited to magnetics and induced polarization (“IP”);
• Reconnaissance drilling.
Terms of the Option Agreements:
Subject to Canadian Securities Exchange approval , completion of due diligence and signing of
definitive agreements for both properties , Nedeel LLC (“Nedeel”) will grant Zeus the sole and
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exclusive right to acquire a 90% interest in each Property over a three year period by making the
following cash and share payments:
• $50,000USD upon signing the LOI as an exclusivity payment (the “Initial Payment”); if a
definitive option agreement (the “Option Agreement”) is not completed within 60 days of
signing the LOI, Zeus will pay an additional $50,000USD as break fee which will be non-
refundable.
• $230,000USD upon the signing of the Option Agreement, provided that the Initial Payment
shall become a credit towards such amount upon the signing.
• Issue an aggregate of 1,000,000 common shares of Zeus (each a “Share”) to Needel as
follows:
o On or before the first anniversary of the date of the Option Agreement, 250,000
Shares;
o On or before the second anniversary of the date of the Option Agreement, a further
250,000 Shares;
o On or before the third anniversary of the date of the Option Agreement, a further
and final 500,000 Shares and a final payment of $250,000USD in cash (the “Third
Year Payment).
Each of the above cash and share payments are single payments towards a 90% interest in both
Properties. If all cash and share payments have been made within the three year option period,
Zeus will be deemed to have acquired a 90% interest in both Properties and will grant to Nedeel a
3% net smelter returns (“NSR”) royalty on both Properties , of which one half of the respective
royalty (1.5%) may be acquired by Zeus at any time within ten years of the date of the Option
Agreement in increments of 1/15 for a purchase price of $100,000USD per increment in the first
five years (for an aggregate purchase price of $1,500,000USD) or $200,000USD per increment if
acquired in the period from the fifth to ten year anniversary (for an aggregate purchase price of
$3,000,000USD). Upon the exercise of the option, Zeus and Nedeel will form a joint venture in
respect of each Project. Nedeel will retain a carried interest in the Properties until the time of the
Feasibility Payment (as defined below).
In addition to the payments to exercise the options, Zeus will also be obligated to make certain
additional bonus payments, in respect of each Property, to Nedeel as follows:
• Upon defining a maiden resource of at least 750,000 oz of gold (Au) or AuEQ and other
base and precious metals (including copper) for either Project, Zeus shall pay Nedeel an
additional $1,500,000USD in cash (the “Resource Payment”);
• Upon the earlier of (i) the completion of the positive bankable feasibility study on either
Project, or (ii) the making of a decision to mine either Project, Zeus shall pay Nedeel an
additional US$3,000,000 in cash (the “Feasibility Payment”). For clarity, the Bonus
Payment and the Feasibility Payment are single payments in respect of both Projects and
are payable at the initial time a Project reaches the applicable milestone, but not again at
the time the remaining Project then achieves such milestone, if any;
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• Zeus shall not be obligated to pay the Third Year Payment ($250,000USD) if Zeus has
become obligated to pay and has paid the Resource Payment;
• Zeus retains the discretion to pay either the Resource Payment or the Feasibility Payment
through the issuance of Shares, provided that if Zeus elects to pay the Resource Payment
in Shares, the Resource Payment will be $2,000,000 USD and, if Zeus elects to pay the
Feasibility Payment in Shares, the Feasibility Payment will be $4,000,000 USD. The
deemed value of any such Shares issued will be equivalent to the 30 day VWAP of the
Shares on the CSE for the 30 days immediately prior to the applicable payment due date,
subject to a minimum price of $0.05CDN per share, subject to the approval of the CSE.
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Figure 1: Location of the Delker and Bulls Eye Property
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Figure 2: Nevada’s New Base Metal Trend
*This is presented simply as a record of previous exploration at the project and to show the
geological prospectively of the area. All information is derived solely from management of Zeus
Mining and otherwise publicly available third-party information which are believed to be reliable,
but which have not been independently verified by the Company and as a result are not guaranteed
as to accuracy and completeness. Zeus’s management cautions that past results or discoveries on
properties in proximity to Zeus may not necessarily be indicative of mineralization within the
properties.
Qualified Person
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The scientific and technical information in this news release has been reviewed and approved by
Dean Besserer, P.Geo., the President & CEO for the company and Qualified Person as defined in
NI 43-101.
On behalf of the board of directors.
“Dean Besserer”
President and CEO
For more information, please contact the Company at [email protected]
FOR INVESTOR RELATIONS CONTACT:
Kin Communications Inc. Ph: 604-684-6730
About Zeus North America Mining Corp.
The Company is in the business of mineral exploration. The Company is focused on its exploration
properties in the state of Idaho known as the: Cuddy Mountain; Selway; and Great Western
properties, respectively. The Idaho properties consist of 101 (Cuddy M ountain), 57 (Selway) and
38 (Great Western) lode mining claims respectively and cover a cumulative area of approximately
4,200 acres. The Company’s flagship Cuddy Mountain Property is adjacent to Hercules Metal
Corp’s Leviathan Copper Porphyry discovery.
Forward Looking Statements
When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect",
"plan", "predict", "may" or "should" and the negative of these words or such variations thereon or
comparable terminology are intended to identify forward-looking statements and information. Although the
Company believes, in light of the experience of their respective officers and directors, current conditions
and expected future developments and other factors that have been considered appropriate, t hat the
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expectations reflected in the forward -looking statements and information in this news release are
reasonable, undue reliance should not be placed on them because the parties can give no assurance that such
statements will prove to be correct. The forward -looking statements and information in this news release
include, amongst others, the Company's exploration plans. Such statements and information reflect the
current view of the Company. There are risks and uncertainties that may cause actual results to dif fer
materially from those contemplated in those forward-looking statements and information.
By their nature, forward -looking statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, perfor mance or achievements or implied by such forward -
looking statements. There are a number of important factors that could cause the Company's actual results
to differ materially from those indicated or implied by forward -looking statements and information. Such
factors include, among others: currency fluctuations; limited business history of the parties; disruptions or
changes in the credit or security markets; results of operation activities and development of projects; project
cost overruns or unanticipated costs and expenses; and general development, market and industry
conditions.
The Company undertakes no obligation to comment on analyses, expectations or statements made by third
parties in respect of its securities or its financial or operating results (as applicable). The Company cautions
that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking
statements and information to make decisions, investors and others should carefully consider the foregoing
factors and other uncertainties and potential events. The Company has assumed tha t the material factors
referred to in the previous paragraph will not cause such forward -looking statements and information to
differ materially from actual results or events. However, the list of these factors is not exhaustive and is
subject to change an d there can be no assurance that such assumptions will reflect the actual outcome of
such items or factors.
The forward-looking information contained in this news release represents the expectations of the Company
as of the date of this news release and, accordingly, are subject to change after such date. The Company
does not undertake to update this information at any particular time except as required in accordance with
applicable laws.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news
release.