Buscar Company Advances Key Permitting Milestones for Treasure Canyon Mine

Rhea-AI Summary

Buscar Company (OTC: CGLD) advanced permitting for its Treasure Canyon project on March 16, 2026, including engagement of a Qualified Person under SEC Regulation S-K 1300 and submission of a comprehensive Plan of Operations to the U.S. Forest Service.

The company reports multi-agency permit coordination, near-completion of engineering designs for access road, bridge and water systems, and anticipated agency feedback and permit timelines of 30–60 days, while noting no permits have yet been approved and operations await regulatory clearances.

Positive

• Qualified Person engaged under SEC Regulation S-K 1300
• Plan of Operations submitted to U.S. Forest Service (Feb 2026)
• Engineering designs for road, bridge, water systems nearing completion
• Multi-agency permit applications submitted to all listed regulators

Negative

• No permits approved to date for Treasure Canyon
• Project is exploration-stage with no mineral reserves
• Company has no revenue and relies on external financing
• Permit delays or denials could materially impede project timelines

BEVERLY HILLS, Calif., March 16, 2026 /PRNewswire/ -- Buscar Company (OTC Markets Pink: CGLD) ("Buscar" or the "Company") today announced significant progress in the permitting process for its Treasure Canyon property, marking important steps forward in advancing the project toward field exploration.

EXECUTIVE SUMMARY

The Company has made substantial progress on its permitting pathway, including: (i) engagement of a Qualified Person under SEC Regulation S-K 1300; (ii) preparation and submission of a comprehensive Plan of Operations to the U.S. Forest Service; (iii) incorporation of agency feedback and submission of revised plans; (iv) initiation of the multi-agency permit coordination process; and (v) near-completion of required engineering design work for infrastructure components. While no permits have been approved to date, the Company has established contact with all relevant regulatory agencies and submitted required application materials.

QUALIFIED PERSON

The Company has engaged Martin L. Gallon of Lumwana LLC as its Qualified Person under SEC Regulation S-K 1300. Mr. Gallon is a certified professional geologist holding a BSc Honours in Geology from London University with over 55 years of experience in the mining industry, including exploration, feasibility studies, mine development, and operations management. His qualifications include extensive experience with NI 43-101 technical reports and SEC Regulation S-K 1300 compliance, bringing critical expertise to the Company's technical assessments and regulatory submissions.

PERMITTING STATUS UPDATE

Plan of Operations Progress

Under Mr. Gallon's guidance, the Company has prepared a comprehensive Plan of Operations for the Treasure Canyon Mine. The Plan of Operations is a detailed document required by the U.S. Forest Service that outlines proposed mining activities, environmental protections, reclamation plans, and operational procedures. This plan serves as the foundational document for the overall permitting process and demonstrates the Company's commitment to responsible resource development.

The initial plan was submitted to the U.S. Forest Service in early February 2026. The Forest Service provided detailed feedback, which the Company addressed through plan revisions incorporated by mid-February 2026. Final approval of the Plan of Operations is contingent upon the acquisition of all required permits from relevant state and county regulatory agencies, which is standard procedure for projects of this nature.

Multi-Agency Permit Coordination

The Company is coordinating with the following regulatory agencies to obtain necessary permits:

• Water Rights – California State Water Resources Control Board ("State Waterboard")
• Streambed Alteration Agreement - California Department of Fish & Wildlife
• County Permits & Land Use Approvals – Plumas County Planning Department
• Air Quality Permits –Sierra County Air Pollution Control District.
• Wastewater Discharge Permit - California Regional Water Quality Control Board
• Surface Mining and Reclamation Act (SMARA) Compliance – California Department of Conservation, Division of Mine Reclamation

All agencies have been contacted via phone and email. Required application forms have been completed and submitted. Engineering design work for the access road, bridge crossing, and water retention/treatment systems mandated by the State Waterboard is nearing completion. Final engineering drawings are expected to be submitted for agency within the next 14 days.
The Company expects to receive initial feedback on submitted engineering drawings within 14 -21 days from submission

Permit Timeline Expectations

No permits have been approved to date. Based on typical timelines for similar projects in California, the Company anticipates:

• State Waterboard permits: within 30 -60 days
• Department of Fish & Wildlife Streambed Alteration Agreement within 30 -60days
• SMARA approval within 30 -60 days
• Air quality permits within 30 -60 days
• County land use approvals: 30 days

The Plan of Operations permit granted by the US Forest Service depends on receiving approval for the other permits.

The US Forest Service has provided assistance and guidance with the permitting process. 

However, the permitting process involves multiple regulatory agencies with independent review timelines and discretionary authority. There can be no assurance regarding the timing of permit approvals, the conditions that may be imposed, or whether all required permits will be obtained. Permit denials, delays, or conditions could materially impact the Company's ability to proceed with planned activities or could require significant additional capital expenditures beyond current estimates.

On-site fieldwork is anticipated to commence only after all necessary permits are obtained and is subject to favorable weather conditions and site accessibility.

MANAGEMENT COMMENTARY

"We are pleased with the progress our team has made in advancing the Treasure Canyon permitting process," said Alexander Dekhtyar, CEO of Buscar Company. "The engagement of Martin Gallon as our Qualified Person brings decades of mining industry expertise to our project, and his guidance has been invaluable in preparing our submissions to meet both Forest Service requirements and SEC standards. While we recognize that the multi-agency permitting process is complex and timeline certainty is limited, we believe we have taken the necessary steps to position the project for regulatory review. We remain committed to responsible development practices and look forward to updating shareholders as we reach additional milestones."

EXPLORATION STAGE PROPERTY - NO MINERAL RESERVES

The Treasure Canyon property is an exploration-stage property with no mineral reserves. There is no assurance that further exploration will result in the determination of economically viable mineral reserves. The Company has no producing properties, no revenue from operations, and is entirely dependent on external financing to fund its activities.

About Buscar Company

Buscar Company (OTC Markets Pink: CGLD) is a mineral exploration company focused on gold and precious metals opportunities. Through its wholly owned subsidiary Eon Discovery Inc., the Company maintains mining claims on the Treasure Canyon property in Plumas County, California. The Company is an exploration stage issuer with no mineral reserves and no current revenue from operations.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans for technical assessment, permitting, field work, and financing for the Treasure Canyon property, as well as anticipated timelines for permit reviews and approvals. These forward-looking statements involve substantial risks and uncertainties.

Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: (i) the Company's status as an exploration stage issuer with no established mineral reserves and no operating history or revenue; (ii) the Company's ability to obtain required regulatory permits and approvals from multiple agencies, including the U.S. Forest Service, California State Water Resources Control Board, California Regional Water Quality Control Board, California Department of Fish & Wildlife, Plumas County, and California Department of Conservation; (iii) uncertainty regarding the timing, conditions, and ultimate approval or denial of permit applications; (iv) the possibility that permit conditions may require significant additional capital expenditures or may render planned activities economically unfeasible; (v) the Company's need for substantial additional capital to fund exploration activities, with no assurance that such financing will be available on acceptable terms or at all; (vi) risks inherent in mineral exploration, including the possibility that further work will not result in the establishment of mineral reserves; (vii) uncertainty regarding the results of technical assessments and feasibility studies; (viii) dependence on third-party consultants and qualified persons; (ix) weather conditions, site accessibility, and seasonal limitations on field work; (x) commodity price fluctuations; (xi) environmental risks and the potential for unforeseen remediation costs; (xii) potential changes in regulatory requirements or enforcement priorities; (xiii) competition for qualified personnel, equipment, and services; (xiv) potential legal challenges or disputes related to mining claims or permits; (xv) the Company's lack of diversification, with all activities focused on a single exploration property; and (xvi) risks associated with companies quoted on the OTC Markets Pink marketplace, including limited liquidity, minimal regulatory oversight, and limited publicly available information.

Investors should carefully consider these risks before making any investment decision. The Company does not undertake to update these forward-looking statements except as required by law.

Contact:
Alexander Dekhtyar
Buscar Company
CEO
9663 Santa Monica Blvd 688
Beverly Hills, CA 90210
office@cgld.email

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SOURCE Buscar Company (CGLD)

FAQ

What did Buscar (CGLD) announce about Treasure Canyon permitting on March 16, 2026?

They reported submission of a comprehensive Plan of Operations and engagement of a Qualified Person under SEC S-K 1300. According to the company, multi-agency applications and engineering designs are near completion.

Has Buscar (CGLD) received any permits for Treasure Canyon yet?

No, the company has not obtained any permits to date and field work is pending. According to the company, permit approvals remain subject to multi-agency reviews and discretionary timelines.

What permitting timeline does Buscar (CGLD) expect for Treasure Canyon permits?

The company anticipates most permits within 30–60 days after submission, with county approvals in ~30 days. According to the company, actual timing depends on each agency's independent review.

Who is Buscar's Qualified Person for Treasure Canyon and why does it matter?

Buscar engaged Martin L. Gallon as Qualified Person under SEC S-K 1300, bringing 55+ years of experience. According to the company, his credentials support technical compliance and permitting submissions.

What are the major operational risks for Treasure Canyon reported by Buscar (CGLD)?

Key risks include permit denials, delays, or conditions and the need for additional capital. According to the company, lack of approvals could materially affect the ability to commence field work.