Bathurst Metals Corp. entered into a binding letter of intent to acquire 100% interest in 12 Mineral Claims Covering 5,500 Hectares Located in Bridge River Mining Camp of British Columbia from BCT Holdings Corp for CAD 3.9 million.

Bathurst Metals Corp. (TSXV:BMV) entered into a binding letter of intent to acquire 100% interest in 12 Mineral Claims Covering 5,500 Hectares Located in Bridge River Mining Camp of British Columbia from BCT Holdings Corp for CAD 3.9 million on November 17, 2022. Under the terms of the LOI, Bathurst Metals will make payment of CAD 0.5 million, issuance of 7.5 million common shares of the company, and funding by the company of CAD 2.7 million in exploration expenditures, all over a period of four years.

Upon commencement of commercial production, Bathurst shall pay to the Vendor a royalty in an amount equal to a 2.5% of net smelter returns, subject to buy-back by Bathurst of 1.0% for CAD 1 million. The transaction is subject to TSXV approval.