TRU Precious Metals Enters Definitive Option Agreement with Eldorado Gold

TRU Precious Metals Corp. has signed a definitive earn-in agreement with Eldorado Gold Corporation. This agreement grants Eldorado the exclusive option to earn an 80% ownership interest in TRU's Golden Rose Project. The project is strategically located in Central Newfoundland along the Cape Ray-Valentine Lake Shear Zone.

According to the agreement, Eldorado will make cash payments totaling CAD 8.25 million and incur exploration expenditures of CAD 7 million over a five-year period. TRU will act initially as the project's operator, supported by a technical committee comprising representatives from both companies.

The Option Agreement could result in Eldorado owning an 80% stake in TRU's 100%-owned and optioned mineral claims. If TRU's stake in future joint ventures dilutes below 10%, it will convert to a 2% net smelter returns royalty, partially re-purchasable by Eldorado.

TRU will benefit from Eldorado's expenditures and cash payments, providing financial support to advance the Golden Rose Project's exploration and development. The deal awaits final approval from the TSX Venture Exchange and necessary permits, with completion expected by August 6, 2024.