GFG Signs Exploration Agreement with Apitipi Anicinapek Nation

Rhea-AI Summary

GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) has signed an Exploration Agreement with Apitipi Anicinapek Nation (AAN) for its Goldarm Property in the Timmins Gold District, Ontario.

Key terms of the agreement include:

• Continuous consultation with AAN for community engagement
• Employment, training, and business growth opportunities for the AAN community
• Community fund contributions based on exploration expenses
• Issuance of $20,000 in GFG common shares to AAN within 10 business days of TSXV approval

The agreement, pending TSXV approval, demonstrates GFG's commitment to responsible resource exploration while promoting sustainable development in partnership with the AAN, a Treaty #9 signatory First Nation in Northeastern Ontario and Northwest Quebec.

Positive

• Strategic access secured to explore Timmins Gold District property
• Community support and social license obtained for mining operations
• Clear framework established for local engagement and development

Negative

• Share dilution from $20,000 equity issuance
• Additional operational costs through community fund contributions
• Project advancement dependent on TSXV approval

SASKATOON, Saskatchewan, March 06, 2025 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to announce that it has entered into an Exploration Agreement (“EA”) with Apitipi Anicinapek Nation (“AAN”) with respect to the Company’s Goldarm Property (“Goldarm” or the “Project”) located in the world-class Timmins Gold District of Ontario, Canada. The EA sets the stage for continuous consultation with AAN, providing the community with the chance to engage in the Project through employment, training, and business growth opportunities. As outlined in the EA, GFG will allocate contributions to a community fund based on its exploration expenses in AAN territory. Furthermore, within 10 business days of TSXV approval, the Company will issue $20,000 in GFG common shares to AAN. GFG will calculate the number of shares based on the average closing price of the shares for the five days preceding this announcement, or such alternative pricing as may be approved by the TSXV. The EA remains subject to the approval of the TSXV.

Chris Sackaney, Director of Lands and Resources for Apitipi Anicinapek Nation, stated, “This agreement reflects our Nation’s commitment to ensuring that resource development within our territory is done responsibly and with our direct involvement and consent. By working with GFG, we aim to protect our lands and waters while also creating opportunities for our community members. We look forward to building a relationship based on mutual respect, transparency, and long-term benefits for our Nation.”

Brian Skanderbeg, CEO and President of GFG stated, “We are grateful for the opportunity to collaborate with AAN and jointly establish a framework that places emphasis on environmental stewardship, cultural respect, and community empowerment. This partnership highlights GFG's commitment to responsible resource exploration and promoting sustainable development. By incorporating the values and perspectives of AAN into our exploration activities, our goal is to generate shared benefits and an enduring relationship founded on trust and mutual respect.”

About Apitipi Anicinapek Nation
Apitipi Anicinapek Nation is a proud and resilient First Nation that is a signatory of Treaty #9. The Nation’s Sacred Traditional Territory comprises the lands and waters that straddle a large segment of what is now Northeastern Ontario and Northwest Quebec. Rooted in Anicinapek traditions, AAN is dedicated to protecting its lands, waters, and cultural heritage while fostering sustainable economic development. The Nation actively engages with industry partners to ensure that projects within its territory align with its values and provide meaningful opportunities for community members.

About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions. The Company operates three gold projects, each hosting large and highly prospective gold properties within the prolific gold district of Timmins, Ontario, Canada. The projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold.

For further information, please contact:
Brian Skanderbeg, President & CEO
or
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930
Email: info@gfgresources.com
Website: www.gfgresources.com  

Stay Connected with Us
X (Twitter): @GFGResources
LinkedIn: https://www.linkedin.com/company/gfgresources/
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FAQ

What are the financial terms of GFG Resources (GFGSF) exploration agreement with Apitipi Anicinapek Nation?

GFG will issue $20,000 in common shares to AAN and make community fund contributions based on exploration expenses in AAN territory.

Where is GFG Resources' (GFGSF) Goldarm Property located?

The Goldarm Property is located in the Timmins Gold District of Ontario, Canada, a region that has produced over 70 million ounces of gold.

What benefits does the exploration agreement provide to the Apitipi Anicinapek Nation?

The agreement provides employment, training, business growth opportunities, community fund contributions, and ensures continuous consultation on project development.

When will GFG Resources (GFGSF) issue shares to Apitipi Anicinapek Nation?

GFG will issue shares within 10 business days of TSXV approval, based on the 5-day average closing price preceding the announcement.