Ranchero Gold Corp. announced that further to its press releases on November 21, 2023 and February 26, 2024, it has closed its option agreement with Recharge Resources Ltd. whereby Ranchero can earn a 100% interest in the Pinchi Lake Nickel Project. The Pinchi Project consisting of six mineral claims totaling 3,917 hectares, situated approximately 15 to 30 km northwest of Fort St.

James and 120 km northwest of Prince George in central British Columbia. Further information on the project can be found in the National Instrument 43-101 Technical Report on the Murray Ridge (Pinchi Lake) Property dated February 8, 2024 filed on SEDAR+ under the Company's profile. In accordance with the Option Agreement, Ranchero has issued 835,000 common shares in the capital of Ranchero to Recharge.

The common shares are subject to a four-month hold period ending on July 13, 2024 in accordance with applicable securities laws. The Option Agreement remains subject to the final approval of the TSX Venture Exchange.