Mr. Timothy Turner reports

BOCANA RESOURCES CORP. SIGNS LETTER OF INTENT TO ACQUIRE AN EQUITY INTEREST IN VENTURE GOLD, INC.

Bocana Resources Corp. has entered into an arm's-length non-binding letter of intent dated Oct. 6, 2025, for a proposed equity investment interest in Venture Gold Inc., a corporation formed under the laws of the State of Nevada, for a direct investment into VG's treasury, with VG retaining ownership of all its properties and using the investment proceeds exclusively for development and exploration of the properties and related working capital needs, for a total investment of up to $20-million (U.S.). The transaction is expected to also be made through the newly formed joint venture entity Arizore LLC, a limited liability company registered in the state of Nevada. This joint venture to finance and complete the transaction is still under review by the TSX Venture Exchange.

The transaction

Pursuant to the LOI and subject to the negotiation and execution of a definitive investment agreement, the satisfaction or waiver by Bocana of any conditions precedent, and receipt of all required regulatory and third party approvals, Bocana intends to subscribe for and receive a substantial interest in newly issued shares of VG that are issued and outstanding on a fully diluted basis immediately following such investment and the exact amount to be disclosed once a binding definitive agreement has been reached.

The transactions contemplated by the LOI are subject to the following conditions:

1. The entering into of a definitive agreement in respect of the transaction between Venture Gold and Bocana. The definitive agreement will describe the terms and conditions upon which the transaction will be completed;
2. Confirmation to Venture Gold that Bocana has obtained financing to cover the transaction;
3. The completion of satisfactory due diligence by Bocana; and
4. Regulatory approvals, including, but not limited to, the TSX Venture Exchange.

A negotiated finder's fee is expected to be paid in connection with the transaction.

About Venture Gold Inc.

Venture Gold is focused on the redevelopment of the entire Idaho Springs/Central City mining district of Colorado. VG has spent 15 years studying the district, acquiring properties and obtaining numerous permits through purchases, options, mining leases and other agreements. Venture Gold has control of over 500 acres of mining claims.

"Bocana is pleased to announce the proposed equity investment in Venture Gold, a strategic step that strengthens our growth trajectory. The acquisition of our interest in these high-grade sites represents a significant opportunity to enhance our asset base and accelerate our corporate development plans. We are excited to collaborate with the Venture Gold team and remain committed to supporting their vision of unlocking the full potential of this highly prospective district," said Tim Turner, Bocana's chief executive officer.

The LOI was negotiated at arm's length. The transaction does not represent a change of business. There will be no change of directors or officers of the company as a result of this transaction.

The TSX Venture Exchange has in no way passed upon the merits of the transaction, and has neither approved nor disapproved the contents of this press release.

About Bocana Resources Corp.

Bocana is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in North and South America. Bocana, through its wholly owned subsidiary, Huiracocha International Service SRL, holds a 100-per-cent working interest in the mineral properties known as the Escala area concessions located in the department of Potosi, Sud Lipez province, Bolivia, as awarded by Comibol.

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