Mr. Radovan Danilovsky reports

MCLAREN RESOURCES PURCHASES NSR ON ITS MCCOOL GOLD PROPERTY

McLaren Resources Inc. has purchased a 1.0-per-cent net smelter return royalty held by a prospector on the 1,495-hectare Crown claim portion of the McCool gold property located in McCool township, Timmins, Ont. Consideration for the purchase was $6,000 in cash and 100,000 common shares of McLaren.

As a result of the above transaction, the only remaining NSR on the McCool property is held by Newmont Corp. and consists of a 1.0-per-cent NSR on the 275-hectare mining lease portion of the property.

McCool gold exploration property

The McCool property is located in McCool township 85 kilometres east of Timmins and neighbours the Tower gold project, the Fenn-Gib project and the Holt mine complex. The property is on the north side of the Destor Porcupine fault and covers five kilometres of the Centre Hill fault. The property consists of a mining lease and Crown claims with an area of 275 hectares and 1,495 hectares, respectively.

See the McLaren news release issued on Jan. 24, 2023, for drill results from the McCool property.

Other exploration properties in McLaren portfolio

McLaren also holds a 100-per-cent interest in the Blue Quartz and Kerrs gold exploration properties located east of Timmins, Ont.

The Blue Quartz property is located in Beatty township 73 km east of Timmins and neighbours the Fox mine, the Fenn-Gib project and the former producing Ross mine. The property hosts the former producing Blue Quartz gold mine, and consists of patented claims and staked claims covering an area of 640 hectares (selected drill results from diamond drilling on the Blue Quartz property can be found in a news release issued on Feb. 14, 2019). The Blue Quartz property abuts immediately to the south of the Goldarm gold property owned by GFG Resources Inc. where GFG recently announced very encouraging gold results with abundant visible gold from drilling on its Aljo target. See the GFG news release issued on Aug. 19, 2024.

The Kerrs property is located in Kerrs township approximately 15 km north of the McCool property and consists of mining leases covering an area of 771 hectares. Previous historical work on the property during the mid-1980s included 10,279 metres of diamond drilling in 55 holes. The drilling was focused on an exploration target area that is an extension of a gold mineralized trend from the adjacent property to the east, known as the KBX zone.

McLaren is currently designing exploration programs for future work on the three company-owned mineral properties.

We seek Safe Harbor.