Getchell Gold Corp. Leases Dixie Comstock Property
Vancouver, BC – September 4, 2025 – Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (FWB: GGA1) ("Getchell" or the "Company") is pleased to announce that it has enter into a mining lease agreement (the "Mining Lease") with Montana Goldfields LLC ("Montana"), an arm's-length party, pursuant to which the Company, through its wholly-owned subsidiary Getchell Gold Nevada, Inc., will lease the Dixie Comstock Gold Mine (the "Property") to Montana for the purposes of exploration for, and the development of, mining and processing of minerals (the "Lease") for a term of twenty years.
Mining Lease Agreement
Montana Goldfields, LLC is a privately held Nevada corporation whose principals have a combined track record of successful development and operation of precious and base metal mines in the US and Mexico. More recent mining projects include the Carmen Gold Mine, and Pediment Gold's La Colorada mine, with both producing gold and silver in Sonora, Mexico.
The parties involved in Montana Goldfields have combined over 100 years mineral resource experience ranging from exploration and permitting through development and production.
In consideration for the Mining Lease, Montana will pay the Company US$25,000 upon the execution of the Lease Agreement.
In addition, Montana has agreed to pay the Company minimum advance royalty payments (the "Advance Royalty Payments") in the amount of US$25,000 on or before the first anniversary of the Effective Date, and each year thereafter throughout the term of the Mining Lease.
Montana has also agreed to the following work commitment in exploration costs directly expended on the Property:
(i) During the first Lease year, expend a total of no less than US$100,000;
(ii) During the second Lease year, expend a total of no less than US$200,000;
(iii) During the third Lease year, and each subsequent Lease Year, expend a total of no less than US$300,000.
In addition to a certain 2% net smelter return production royalty owing to Canagold Resources Ltd. through Canagold's wholly-owned subsidiary, American Innovation Minerals, LLC (the "AIM NSR"), pursuant to a royalty deed dated April 19, 2024 between Getchell Gold Nevada and American Innovation Minerals, LLC, Montana has agreed to pay a 2% net smelter return production royalty to the Company based on a percentage of net smelter returns from the production of minerals from the Property ("NSR Royalty");
During the term of the Mining Lease, Montana has the option to purchase up to 1% of the NSR Royalty for US$1,000,000 and the right to purchase up to 1% of the AIM NSR for US$1,000,000.
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