Peak Minerals Ltd. (CSE: PEK) Signs Binding LOI to Acquire Tapanahony Gold Project

Highlights:

• Peak Minerals enters into a binding agreement to acquire the Tapanahony Gold Project in Suriname.
• Company forms an Advisory Board and announces a non-brokered private placement to raise up to $2 million.
• Acquisition includes multiple gold targets, with extensive historical exploration and drilling data.

Peak Minerals Ltd. (CSE:PEK) is pleased to announce that it has signed a Binding Letter of Intent (LOI) granting it an option to acquire a significant interest in the Tapanahony Gold Project, located in Suriname, South America. This acquisition is part of Peak’s strategy to expand its gold portfolio and further explore one of South America's most promising mining regions. The project offers multiple high-potential gold targets, backed by extensive historical exploration and drilling data.

The Tapanahony Gold Project spans 29,000 hectares in a region known for its rich gold deposits, including significant artisanal mining activity. The area is also home to numerous gold occurrences, many of which have already been explored, with valuable historical data that includes airborne geophysics, semi-quantitative panning of drainages, auger grids, mapping and sampling of small-scale mine workings, and 4,000 meters of previous drilling. Historical results suggest that there are multiple gold targets that warrant further exploration.

Under the terms of the agreement, Peak Minerals has the option to acquire an initial 60% interest in the Tapanahony Gold Project through a staged issuance of shares and cash payments. The details of the option agreement are as follows:

• On execution of the LOI, Peak will pay US$150,000 and issue 4 million shares.
• On the 6-month anniversary of closing, Peak will issue 600,000 shares and pay an additional US$150,000.
• On the 12-month anniversary, Peak will issue 200,000 shares and pay US$200,000.
• On the 24-month anniversary, 150,000 shares and US$150,000 will be issued.
• On the 36-month anniversary, 200,000 shares and US$200,000 will be issued.
• On the 48-month anniversary, Peak will issue 250,000 shares and pay US$250,000.
• On the 60-month anniversary, 400,000 shares and US$400,000 will be issued.

Peak also has the option to acquire an additional 30% of the project within the first six months of closing by issuing 2 million shares. If the option is not exercised within six months, it will be extended with additional share issuances. The remaining 10% interest can be acquired at any time based on an independent valuation, with payments of up to US$6 million in shares upon the completion of 5,000 meters of drilling.

Suriname is recognized as a mining-friendly jurisdiction with a politically stable environment. Located within the Guiana Shield, Suriname has become an increasingly important area for gold exploration. The region is home to multiple large-scale gold mines, including the Rosebel Mine (13.4 million ounces) and Merian Mine (7 million ounces), which are among the largest gold operations in South America.

Peak’s entry into Suriname strengthens its position in a proven gold belt with vast exploration upside. The Tapanahony Project holds immense potential, with its extensive database providing a solid foundation for exploration activities.

In addition to the acquisition, Peak Minerals has announced the formation of an Advisory Board, comprising experts in geology, mining, and finance, who will support the Company's growth strategy and ensure the successful advancement of its projects. The Board’s expertise will be crucial in helping Peak navigate the complexities of exploration in the Guiana Shield region and maximize the value of the Tapanahony Gold Project.

To fund its exploration efforts and the acquisition process, Peak has arranged a non-brokered private placement to raise up to $2 million. This financing will provide the Company with the capital required to initiate exploration work and meet the financial obligations related to the Tapanahony Project.

Peak Minerals is excited to proceed with the acquisition of the Tapanahony Gold Project, which represents a key strategic move in the Company’s efforts to expand its gold assets. The Company plans to move quickly to initiate Phase 1 exploration at the project, leveraging the historical data and exploration results to target the most promising areas for drilling.

With a strong asset base, a growing team of advisors, and new financing in place, Peak Minerals is well-positioned to capitalize on the opportunities within the gold sector and create significant value for its shareholders in the coming years.