Carlyle Issues Quesnel Property Option Shares and Acquires Quesnel Gold Property

Rhea-AI Summary

Carlyle Commodities Corp. has completed the acquisition of a 100% interest in the Quesnel Gold Project in central British Columbia by issuing 2,000,000 common shares at $0.05 per share to Divitiae Resources The property spans 1,607.34 hectares and is located 30 kilometers northeast of Quesnel. The deal includes a 2% net smelter return royalty retained by Divitiae Resources, with Carlyle having the option to purchase 1% of the royalty for $1,000,000. The project benefits from strategic positioning within the Quesnel Trough, proximity to main highways and power lines, enabling year-round operations.

Positive

• Strategic acquisition of 100% interest in the Quesnel Gold Project
• Property has year-round accessibility with existing infrastructure
• Option to reduce royalty burden by 50% for $1M
• Located in established mining region within Quesnel Trough

Negative

• Share dilution through issuance of 2M new shares
• 2% royalty obligation on future production
• Additional $1M capital required to reduce royalty burden

Vancouver, British Columbia--(Newsfile Corp. - November 29, 2024) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: BJ4) (OTC Pink: CCCFF) ("Carlyle" or the "Company") announces that, further to its news release dated September 27, 2024, it has issued 2,000,000 common shares (each, a "Share") at a deemed price of $0.05 per Share to Divitiae Resources Ltd. (the "Optionor"), pursuant to the Company's recently announced option to purchase an undivided 100% right, title and interest in certain mining claims (the "Option") in the Quesnel Terrane in central British Columbia (the "Quesnel Gold Project"), subject to a 2% net smelter return royalty to be retained by the Optionor. Pursuant to the terms of the Option, Carlyle may, at any time, purchase 1% of the royalty on the Quesnel Gold Project from the Optionor for a cash payment in the aggregate amount of $1,000,000. The Company, having satisfied the terms of the Option, has acquired an undivided 100% right, title and interest in the Quesnel Gold Project.

The Quesnel Gold Project is located in the Cariboo Mining Division, 30 kilometers northeast of Quesnel in Central British Columbia covering 1,607.34 hectares, proximal to main highways and power lines facilitating year-round access and workability. The Quesnel Gold Project is situated within the Quesnel Trough within a subdivision of the Intermountain Tectonic Belt, and on trend with the historic "G-South" historical gold resource.

All securities issued in connection with the Option will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45‐102 - Resale of Securities.

About Carlyle

Carlyle is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Carlyle owns 100% of the Newton Project in the Clinton Mining Division of B.C. and is listed on the Canadian Securities Exchange under the symbol "CCC", on the OTC Market under the ticker "CCCFF", and the Frankfurt Exchange under the ticker "BJ4".

ON BEHALF OF THE BOARD OF DIRECTORS OF

CARLYLE COMMODITIES CORP.

"Morgan Good"

Morgan Good
Chief Executive Officer

For more information regarding this news release, please contact:

Morgan Good, CEO and Director

T: 604-715-4751
E: morgan@carlylecommodities.com
W: www.carlylecommodities.com

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231998

FAQ

What is the size of the Quesnel Gold Project acquired by Carlyle Commodities (CCCFF)?

The Quesnel Gold Project covers 1,607.34 hectares in the Cariboo Mining Division of Central British Columbia.

How many shares did Carlyle Commodities (CCCFF) issue for the Quesnel Gold Project?

Carlyle issued 2,000,000 common shares at a deemed price of $0.05 per share to Divitiae Resources

What is the royalty structure for the Quesnel Gold Project acquired by CCCFF?

The project carries a 2% net smelter return royalty, with Carlyle having the option to purchase 1% of the royalty for $1,000,000.

Where is the Quesnel Gold Project located relative to Quesnel, BC?

The Quesnel Gold Project is located 30 kilometers northeast of Quesnel in Central British Columbia.