Mr. Guy Morissette reports

BULLION GOLD COMPLETES TRANSACTION ON BOUSQUET PROPERTY WITH OLYMPIO METALS AND CLOSES FINANCING

Bullion Gold Resources Corp.'s option agreement on the Bousquet property with Olympio Metals Ltd. (see press release dated March 18, 2025) has been accepted by the TSX Venture Exchange.

Option agreement details

To obtain up to an 80-per-cent interest in the Bousquet project, Olympio Metals will:

• Invest $2-million in exploration work;
• Pay a total of $1.25-million in cash and shares;
• Manage the exploration work;
• Ultimately, Bullion Gold will retain a 20-per-cent undivided interest.

Term of the agreement for 51-per-cent interest

Olympio will pay Bullion Gold:

• Upon approval by the authorities:
  • $100,000 in cash;
  • $50,000 in Olympio shares;
• Deferred payments:
  • Year 2: $100,000 in cash plus $50,000 in Olympio shares;
  • Year 3: $150,000 in cash plus $50,000 in Olympio shares.

Conditions for an additional 29 per cent:

• Years 4 to 6: $50,000 per year in cash plus $25,000 per year in Olympio shares;
• Year 7: $150,000 in cash plus $75,000 in Olympio shares;
• Year 8: $200,000 in cash plus $100,000 in Olympio shares.

All issued shares will be subject to a four-month voluntary escrow.

Formation of a joint venture

If Olympio decides to exit the project once it has acquired 51 per cent of the project, a joint venture will be formed and:

• Bullion will become the operator and will automatically obtain 51 per cent in the project.
• Olympio's interest will be reduced to 49 per cent.
• The project will continue to be developed on a pro rata basis with standard dilution factors.

Performance bonuses (National Instrument 43-101)

Olympio will pay the following bonuses based on indicated gold resources or equivalent:

• $1.50 per ounce up to 250,000 ounces (maximum of $375,000);
• $1 per ounce from 250,001 to 500,000 ounces (maximum of $625,000 including above);
• 50 cents per ounce beyond 500,000 ounces (no maximum).

Exercise of the option

Olympio may exercise the option at any time for eight years, subject to:

• A progressive exploration investment (at a rate of $2-million over eight years);
• Payment of the defined consideration;
• Satisfaction of conditions precedent (due diligence and regulatory approvals).

Bullion Gold residual rights:

• Olympio will provide financing for the project until initial production.
• Bullion will retain a right of first refusal on the sale of its interest.
• If Olympio purchases the remaining 20 per cent, Bullion will receive a 2-per-cent net smelter royalty (1 per cent can be bought back for $1-million).

Financing

The company is pleased to announce that it has closed a private placement, pursuant to which it issued 3,333,333 flow-through shares of the company at a price of six cents per flow-through share for gross proceeds of $199,999.98.

All securities issued pursuant to the offering will be subject to a hold period of four months and one day ending on July 25, 2025. The offering is subject to final approval by the TSX-V.

About Bullion Gold Resources Corp.

Bullion Gold is involved in the identification, exploration and development of viable mineral properties in the province of Quebec. The company is developing the 100-per-cent Bodo SM project.

We seek Safe Harbor.