Bathurst Metals Corp. has entered into a definitive Option Agreement with arm's length vendor BCT Holdings Corp. ("BCT") to acquire an undivided 100% interest in 12 mineral claims known as the "Peerless Property".

The Company previously entered into a letter of intent with BCT, the terms of which were announced on November 17, 2022. The Peerless Property, covering approximately 5,500 hectares, is located in the Bridge River Mining Camp of British Columbia. Under the terms of the Option Agreement, the Company will pay BCT an aggregate of $500,000.00 over four (4) years and issue a total of 7,500,000 common shares to BCT over a period of three and one-half (3.5) years as consideration for the claims. The Company also issued 500,000 common shares to an arm's length finder in connection with the transaction.

All common shares issued will be subject to a four (4) month hold period. The Company has also committed to incur not less than $2,700,000 in exploration expenditures on the Peerless Property over a four (4) year period. The Peerless Project is located in the Gold Bridge Mining Camp with similar geological and structural settings to the Bralorne-Pioneer Mines that produced over 4 million ounces of gold and is immediately north of Endurance Gold's, Reliance Gold Project.