Vancouver, Canada – TheNewswire - June 26, 2025 – Nordique Resources Inc. ("Nordique" or the "Company") (CSE: NORD, OTC Pink: NORDF, FSE: V0U) is pleased to announce, further to its news release dated May 22, 2025, that the Company has entered into a definitive option agreement dated June 25, 2025 (the “Agreement”) with Gemdale Gold Inc. (“Gemdale”), pursuant to which the Company acquired an option (the “Option”) to acquire a 100% interest in the Isoneva Property (the “Property”), comprising certain mineral claims situated in Finland (the “Transaction”).
“Signing the definitive agreement marks a pivotal milestone for Nordique,” said Sharyn Alexander, CEO of Nordique Resources. “The Western Finland Gold Belt combines highly prospective geology, excellent infrastructure, a supportive regulatory environment, and we believe the Isoneva Project has all the hallmarks of a significant gold system. With strong shareholder support and a recently completed, fully subscribed financing, we’re well-positioned to launch a robust exploration program and deliver continuous updates as we advance this exciting opportunity.”
Pursuant to the terms of the Agreement, the Company has the Option to acquire the Property over a period of three years (the “Option Period”) in consideration for:
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$100,000 cash consideration payable to Gemdale, 50% of which was paid upon signing of a letter of intent for the Transaction and 50% of which is payable upon receipt of Canadian Securities Exchange (CSE”) acceptance of the Transaction;
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$3,000,000 in exploration expenditures on the Property during the Option Period, with minimum exploration expenditures of $600,000 during the first calendar year of the Option Period; and
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at the election of Gemdale, to be made within five (5) business days of the Company providing Gemdale with notice of its intention to exercise the Option (the Exercise Notice”), either:
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$1,000,000 cash consideration payable to Gemdale and further commitment to make certain additional milestone and success payments up to an aggregate of $3,000,000; or
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$4,000,000 of common shares in the capital of the Company payable to Gemdale based on the volume weighted average trading price of the shares on the CSE for the most recent twenty (20) trading days prior to the date of the Company providing the Exercise Notice (subject to the minimum pricing requirements of the CSE), provided that such share issuance would not result in Gemdale holding greater than 19.99% of the issued share capital of the Company. If the proposed amount exceeds the 19.99% threshold, it shall be paid in a combination of shares and cash to equal the proposed $4,000,000 value.
In addition, upon the exercise of the Option, the Company shall grant Gemdale a 2.0% net smelter returns royalty on the Property (the “NSR”), provided that:
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The Company will have a one time option to reduce the NSR to a 1.5% net smelter returns royalty by making a cash payment of $2,000,000 to Gemdale at the time of exercise of the Option, such right expiring immediately after the exercise of the Option (the First Repurchase Option”); and
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The Company will have an option at any time to reduce the NSR to a 1.0% net smelter returns royalty (or to a 0.5% net smelter returns royalty in the event that the Company also exercised the First Repurchase Option) by making a cash payment of $3,000,000 to Gemdale.
The Agreement is subject to customary terms, conditions, representations, and warranties for transactions of this nature. The Transaction is also subject to the receipt of all necessary corporate and regulatory approvals, including the acceptance of the CSE.
The Transaction is an arm’s length transaction and there will be no changes to the Company’s board or management in connection with the Transaction. No finder’s fees will be paid in connection with the Transaction.
For additional information on the Property please refer to the Company’s news release dated May 22, 2025.
All currency references are in Canadian dollars unless otherwise stated.
About Nordique Resources
Nordique Resources Inc. is a Canadian mineral exploration company focused on discovering and advancing high-potential gold opportunities, with a strategic mandate to build a diversified portfolio across prospective mineral belts. The Company’s flagship asset is the Isoneva Gold Project in the under-explored Western Finland Gold Belt. Nordique also maintains the early-stage Fairview Project in British Columbia. By pairing modern, data-driven exploration with strong local partnerships, Nordique aims to generate significant shareholder value through new discoveries in key jurisdictions.
For more information, investors are encouraged to review the Company’s public filings available at www.sedarplus.ca.
For further information, please contact:
Sharyn Alexander, Chief Executive Officer & Director
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Telephone: +1 (778) 650-3003
Forward-Looking Statements
This news release contains “forward looking statements” or “forward looking information” (collectively, “Forward Looking Statements”) that involve a number of risks and uncertainties. Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as “plans”, “targets”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “outlook”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or that state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The Forward Looking Statements in this news release relate to, among other things; the receipt of regulatory approvals; the Company’s ability to exercise the Option; the Company’s future exploration plans; and likely approaches to exploration on the Isoneva Property. Forward Looking Statements are based on certain key assumptions and the opinions and estimates of management, as of the date such statements are made, and they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any other future results, performance or achievements expressed or implied by the Forward Looking Statements. In addition to factors already discussed in this news release, such factors include, among others, risks relating to the Company’s business, including possible changes in project parameters, including schedule and budget, as plans continue to be refined; uncertainties with respect to actual results of current exploration activities; the impact of global conflicts, including resulting changes to the Company’s supply chain and costs of supplies; product shortages; delivery and shipping issues; limitation on insurance coverage; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or in the completion of development or construction activities; opposition by social and non-government organizations to mining projects and smelting operations; unanticipated title disputes; claims or litigation; cyber attacks and other cybersecurity risks; changes to tax regimes in the jurisdictions in which the Company operates; as well as those risk factors discussed or referred to in any other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available on SEDAR+ at www.sedarplus.ca . The reader has been cautioned that the foregoing list is not exhaustive of all factors which may have been used. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward Looking Statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that Forward Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company’s Forward Looking Statements reflect current expectations regarding future events and speak only as of the date hereof. Unless required by securities laws, the Company undertakes no obligation to update Forward Looking Statements if circumstances or management’s estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on Forward-Looking Statements.
