Delta Receives Second Option Payment from Troilus Mining and Showcases Delta-1 Project At ILSG Field Trip
Rhea-AI Summary
Delta Resources (OTC: DTARF) received the second option payment from Troilus Mining for its Delta-2 property in Chibougamau, Quebec. The 378,788 Troilus shares are valued at about C$796,500.
Highlights include up to C$8.25 million in staged payments over three years, a retained 1.0% NSR royalty, and Troilus funding all exploration and claim maintenance during the option period, providing non-dilutive support for advancing the Delta-1 Gold Project.
AI-generated analysis. Not financial advice.
Positive
- Second option payment of 378,788 Troilus shares valued at about C$796,500
- Option agreement allows up to C$8.25 million in staged payments over three years
- Initial C$1.0 million payment was received at closing of the option agreement
- Non-dilutive funding expected to support advancement of the Delta-1 Gold Project
- Delta retains a 1.0% NSR royalty for long-term exposure to project success
- Troilus funds all exploration and claims maintenance during the option period
Negative
- None.
Toronto, Ontario--(Newsfile Corp. - June 3, 2026) - Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) ("Delta" or "the Company") is pleased to announce that it has received the 2nd payment on its option of its Chibougamau, Quebec Delta-2 property package to Troilus Mining ("TSX: TLG"). Delta has received the second option payment consisting of 378,788 common shares of Troilus Mining, representing an approximate value of
On February 17, 2026, Delta had previously announced the closing of the Option Agreement with Troilus Mining.
Highlights include:
- Up to C
$8.25 million in staged cash and/or share payments over three years - Initial C
$1.0 million payment received as at closing - Non-dilutive funding expected to support advancement of the Delta-1 Gold Project
1.0% Net Smelter Return ("NSR") royalty retained, with long-term exposure to exploration success- Troilus to fund all exploration and claims maintenance during the option period
Strong Academic & Industry Interest Highlighted by ILSG Field Visit
The growing interest in the Delta-1 Gold Project was recently highlighted as part of a 'Shebandowan Gold' field trip organized as part of the annual Institute on Lake Superior Geology (ILSG) meeting. The Company hosted 28 geologists and prospectors for a technical field visit that included two separate stops on the Property (Photo 1).
The tour provided participants with an opportunity to observe firsthand the geology, alteration systems and structural controls associated with gold mineralization at the I-Zone and Eureka Gold Zone, while also showcasing the broader exploration potential of Delta's 340 km² land package.
Ron Kopas, Executive Officer of Delta, commented:
"The second payment from Troilus provides us significant non-dilutive hard cash further strengthening our balance sheet and allows us to think not just about our 2026 plans but look into 2027.
The extraordinary interest from the ILSG field trip validates our belief that Shebandowan is now "on the map" and this will no doubt continue with our highly prospective 2026 work program. 2026 will be an exciting year for Delta".
Photo 1. ILSG 'Shebandowan Gold' field trip stop at the I-Zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/299956_45f88ad234e699c2_001full.jpg
Qualified Person
Daniel Boudreau, P.Geo., Vice President of Exploration at Delta Resources Limited, is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration and development company focused on its Delta-1 Gold Project in Ontario, where it has identified a large, near-surface gold system located approximately 50 km west of Thunder Bay, adjacent to the Trans-Canada Highway.
The Eureka Gold Deposit extends over 2.5 km in strike length and to depths exceeding 300 metres, with mineralization observed to approximately 600 metres vertical depth and remaining open in all directions. The property spans 340 km² and hosts multiple prospective mineralized corridors. Highlights include drill intercepts such as 5.92 g/t Au over 31 m (including 14.8 g/t Au over 11.9 m) and 1.79 g/t Au over 128.5 m.
Safe Harbour Statement: Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
For Further Information:
Frank Candido, Chairman
Tel: 514-969-5530
fcandido@deltaresources.ca
Ron Kopas, CEO
rkopas@deltaresources.ca
Cautionary Note Regarding Forward Looking Information
Some statements contained in this news release are "forward-looking information" within the meaning of Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any event.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299956