Big Ridge Gold Corp V.BRAU

Big Ridge Gold Amendment to Hope Brook Earn-In Agreement

[Betteryear2]

Toronto, Ontario--(Newsfile Corp. - March 21, 2024) - Big Ridge Gold Corp. (TSXV: BRAU) ("Big Ridge" or the "Company") is pleased to announce that it has entered into an agreement (the "Amending Agreement") to amend the terms of its second earn-in right at the Hope Brook Gold Project (the "Hope Brook Gold Project") under the Company's earn-in agreement with, among others, First Mining Gold Corp. ("First Mining"). The Amending Agreement dispenses with the requirement for the Company to incur an additional $10,000,000 in expenditures on the Hope Brook Gold Project in exchange for the early exercise of the second earn-in right. Since the stage one earn-in right was exercised, the Company has incurred approximately $5.8 million in eligible expenditures on the Hope Brook Gold Project. The Company has concurrently notified First Mining of its intention to exercise the amended second earn-in right by April 2, 2024 which, upon closing, would increase the Company's interest in the Hope Brook Gold Project from 51% to 80% immediately. First Mining will retain a free carry on its 20% ownership interest in the Hope Brook Gold Project until such time as Big Ridge completes a feasibility study on the project.

Big Ridge Gold Announces Amendment to Hope Brook Earn-In Agreement and Notice of Exercise of Second Earn-In Right (newsfilecorp.com)