First Atlas Resources Corp. Announces Sale of MacKenzie East Claims, Québec to LaFleur Minerals Inc.

Rhea-AI Summary

First Atlas Resources (OTC: BTKRF) agreed to sell a 100% interest in its MacKenzie East Claims in the Val-d'Or gold camp, Québec, to LaFleur Minerals (CSE: LFLR). Consideration is CAD $30,000 cash payable within 48 hours and 175,000 LaFleur shares subject to exchange acceptance and hold periods.

The Property comprises 46 mineral claims covering ~1,781 hectares, located immediately east of Fresnillo's McKenzie Break Gold Deposit. Closing is subject to CSE approval and customary conditions.

Positive

• Immediate cash consideration of CAD $30,000
• Share consideration of 175,000 LaFleur common shares
• Monetizes a non-core asset while retaining equity exposure
• Property is adjacent to McKenzie Break gold deposit

Negative

• Cash portion is modest at CAD $30,000
• Share consideration subject to hold periods and resale restrictions
• Closing subject to CSE acceptance and customary conditions

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - April 28, 2026) - First Atlas Resources Corp. (CSE: HHE) (FSE: 0NB0) (OTC Pink: BTKRF) (the "Company") is pleased to announce that it has entered into a definitive agreement dated April 28, 2026 (the "Agreement") with LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) ("LaFleur") pursuant to which First Atlas has agreed to sell a 100% interest in its MacKenzie East Claims (the "Property") located in the Val-d'Or gold camp, Québec.

Under the terms of the Agreement, LaFleur will acquire the Property in exchange for:

• CAD $30,000 in cash; and

• 175,000 common shares of LaFleur Minerals Inc. (the "Share Consideration").

The cash portion is payable within 48 hours of execution of the Agreement. The Share Consideration will be issued upon receipt of Exchange Acceptance (as defined in the Agreement) or, if not required, within five Business Days following Closing. The shares will be subject to applicable hold periods and resale restrictions under Canadian securities laws and CSE policies.

The Property consists of 46 mineral claims covering approximately 1,781 hectares and is located immediately east of Fresnillo plc's McKenzie Break Gold Deposit in one of Québec's most prolific gold districts. The transaction allows First Atlas to monetize a non-core asset while retaining exposure to the upside of the Val-d'Or region through its equity interest in LaFleur.

Richard Penn, CEO of First Atlas, commented: "We are pleased to complete this transaction with LaFleur Minerals. The sale provides First Atlas with immediate cash and equity in a well-positioned explorer advancing projects in the same district."

Closing of the transaction is subject to customary conditions, including receipt of all necessary approvals from the Canadian Securities Exchange and compliance with applicable securities laws.

On behalf of the Board of Directors

Richard Penn
CEO
(778) 384-8923

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Forward-looking statements 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 future results, performance or achievements expressed or implied by the forward-looking information. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294581

FAQ

What did First Atlas (BTKRF) agree to sell to LaFleur on April 28, 2026?

First Atlas agreed to sell 100% of its MacKenzie East Claims for CAD $30,000 plus 175,000 shares. According to the company, the transfer covers 46 claims totaling about 1,781 hectares adjacent to McKenzie Break.

How and when will First Atlas receive the CAD $30,000 cash payment in the LaFleur deal?

The CAD $30,000 cash payment is payable within 48 hours of agreement execution. According to the company, that cash is immediate, while the 175,000-share portion is issued on exchange acceptance or within five business days after closing.

What are the conditions for the LaFleur share issuance to First Atlas in the transaction?

LaFleur will issue 175,000 common shares upon receipt of Exchange Acceptance or, if not required, within five business days after closing. According to the company, those shares will have applicable hold periods and resale restrictions under Canadian rules.

What size and location are the MacKenzie East Claims sold by First Atlas (BTKRF)?

The MacKenzie East Claims total 46 mineral claims covering approximately 1,781 hectares. According to the company, the claims lie immediately east of Fresnillo's McKenzie Break Gold Deposit in the Val-d'Or gold district of Québec.

What approvals are required for the First Atlas sale to LaFleur to close?

Closing requires customary conditions, including acceptance by the Canadian Securities Exchange and compliance with securities laws. According to the company, completion is subject to those approvals and other standard closing conditions.