Big Ridge Gold Corp Announces Option Agreement with Caprock Mining Corp for Destiny Gold Property

Overview

Toronto, Ontario–(Newsfile Corp. – December 4, 2024) – Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) (“Big Ridge” or the “Company”) announced that it has entered into a binding Option Agreement with Caprock Mining Corp. (CSC-CAPR) (“Caprock”) for the option of its 100% owned Destiny gold property, located in Despinassy Township, 75km northeast of Val d’Or, Quebec.

Terms of the Option Agreement

Under the terms of the Option Agreement, Caprock must make the following cash payments and share issuances to Big Ridge and exploration expenditures to earn a 100% interest in the Destiny gold property:

• Issue 8,000,000 common shares in the capital of Caprock on the Closing Date, which must occur no later than April 2, 2025
• Pay $100,000 in cash and issue $250,000 in shares on or before the first anniversary of the closing date
• Pay $250,000 in cash and issue $350,000 in shares on or before the second anniversary of the closing date
• Pay $400,000 in cash and issue $700,000 in shares on or before the third anniversary of the closing date
• Make exploration expenditures totalling $200,000, $750,000 and $1,000,000 in the first, second and third years of the Option Agreement, respectively

Impact on Individuals

As a resident of the region where the Destiny gold property is located, this agreement could potentially bring economic benefits to the local community through job creation and increased investment in the mining industry. It may also lead to an increase in infrastructure development and overall growth in the area.

Global Impact

This partnership between Big Ridge Gold Corp. and Caprock Mining Corp. could have a broader impact on the global market for gold. The exploration and development of the Destiny gold property may contribute to the overall supply of gold in the market, which could potentially impact global prices and trading trends.

Conclusion

In conclusion, the Option Agreement between Big Ridge Gold Corp. and Caprock Mining Corp. for the Destiny gold property represents a significant opportunity for both companies to collaborate and explore the potential of this valuable resource. The terms of the agreement outline a structured approach to investment and development, which could lead to positive outcomes for both the local community and the global market.