Gander Gold Expands Lizard Pond Claims - Gander South Project - Seite 2

Lizard Pond forms part of the larger Gander South project, one of Gander Gold's eight project areas in the province of Newfoundland and Labrador. The Company's other Newfoundland projects include Gander North, BLT, Mount Peyton, Carmanville, Little River, Hermitage and Cape Ray II.

Figure 1 - Lizard Pond Claims - Existing (Black Outline) & Newly Acquired (Pink Outline)

Foto: Accesswire

Figure 2 - Gander South (Lizard Pond), Gander North, BLT-Thwart Island, and Mt. Peyton Projects

Foto: Accesswire

Under the LOI, Gander has agreed to purchase from Puddle Pond Resources Inc. ("Puddle Pond"), three exploration licenses, comprised of 26 total claims in Newfoundland. Gander will pay Puddle Pond a total of CAD $25,000 cash ($15,000 on signing of final purchase agreement & $10,000 by January 15, 2024), plus CAD $50,000 worth of Gander common shares as of the date of the signing of the final purchase agreement. Puddle Pond will retain a 2% Net Smelter Return royalty on the claims in the amount, half of which may be repurchased by Gander at any time for CAD $500,000. Puddle Pond will be entitled to a one-time bonus payment of 500,000 Gander shares should Gander delineate a NI 43-101 compliant resource of 200,000 ounces of gold on the newly acquired claims.

Qualified Person

The technical information in this news release has been reviewed and approved by Ian Fraser, P.Geo., Vice- President of Exploration for Gander Gold Corp. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

Acknowledgment

Gander Gold acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

About Gander Gold Corporation

Gander Gold is "All Newfoundland, All the Time ." The Company is one of the island's largest claimholders targeting new high-grade gold discoveries with a current focus on the large Gander North, Mount Peyton, and BLT (Botwood-Laurenceton-Thwart Island) projects where there has been very promising early exploration success. Other opportunities advancing through the pipeline are Cape Ray II, Carmanville, Gander South, Little River, and Hermitage.