Mr. Michael England reports
ROCKLAND PLANS DRILL PROGRAM AT THE COLE GOLD MINES PROJECT & CLARIFIES WORDING OF LOI WITH EVOLUTION MINING
Rockland Resources Ltd. is planning a diamond drill program at its 100-per-cent-owned Cole Gold Mines project, located in the west Red Lake mining district of Ontario, with drilling anticipated to commence in mid-August, 2026.
Rockland is currently accepting bids from drilling contractors for the program. The selected contractor and planned meterage will be announced upon award of the contract.
Clarification of LOI (letter of intent) terms with Evolution Mining
Further to the company's news release dated July 29, 2026, Rockland wishes to clarify the ownership outcome contemplated under its non-binding letter of intent with a subsidiary of Evolution Mining Ltd. (Australian Securities Exchange: EVN) in respect of Evolution's Pipestone Bay project.
Rockland may earn up to a 70-per-cent interest in the Pipestone Bay project. If Rockland earns the full 70 per cent, Evolution has the right to reacquire an interest that would bring Evolution's ownership to 70 per cent. Evolution may exercise that right only if:
-
Rockland has defined a mineral resource containing at least 1.5 million ounces of gold or gold equivalent;
-
Evolution pays 1.5 times the relevant expenditures incurred by Rockland.
If Evolution exercises the right, Rockland will retain a 30-per-cent interest in the Pipestone Bay project.
Qualified person
Rockland's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Donald Hoy, MSc, PGeo, who serves as the qualified person under the definition of National Instrument 43-101 as well as a consultant to Rockland Resources.
About Rockland Resources Ltd.
Rockland Resources is committed to unlocking value through focused mineral exploration and discovery. The company's flagship project is the historic Cole Gold Mines project in the prolific Red Lake district of Ontario. By leveraging geological expertise, disciplined exploration and strategic project development, Rockland Resources aims to deliver meaningful growth and long-term value to its shareholders.
We seek Safe Harbor.
© 2026 Canjex Publishing Ltd. All rights reserved.