GGL Resources Corp. Options Copper-Gold Projects in SW Yukon and Consolidates Common Shares

Rhea-AI Summary

GGL Resources (OTCQB:GGLXF) has signed a two-staged option dated July 20, 2026 to acquire up to a 100% interest in the Hopper, Kluane, Batt and Moraine copper‑gold projects in southwestern Yukon from Strategic Metals (TSXV:SMD), with no finder’s fees. GGL can earn a 70% interest by December 31, 2029 by issuing 1,000,000 post‑consolidation shares to Strategic by October 31, 2026 and funding $10,000,000 in exploration, including up to $250,000 reimbursing 2026 work. A further $3,000,000 payment by the earlier of March 31, 2030 or 90 days after exercising the first option would increase GGL’s interest to 100%, after which Strategic would retain a 2% NSR royalty, half of which GGL may buy back for $3,000,000.

If only the first option is exercised, the parties will form a 70/30 joint venture. The transaction is conditional on a 1‑for‑4 share consolidation, shareholder approvals by disinterested shareholders of both companies at August 31, 2026 special meetings, and TSX Venture Exchange acceptance. The consolidation would reduce outstanding GGL shares from 104,357,475 to about 26,089,368, with fractional shares rounded down.

Positive

• $10,000,000 committed exploration to earn 70% interest by 2029
• Potential 100% ownership via additional $3,000,000 payment by 2030
• Strategic retains 2% NSR with GGL buyback right of 1% for $3,000,000
• Share consolidation reduces count from 104.36M to about 26.09M shares

Negative

• GGL must fund up to $10,250,000 including 2026 reimbursement to earn 70%
• Further $3,000,000 cash required to reach 100% property ownership
• Strategic holds 30.35% of GGL, making the deal a related‑party transaction
• Share consolidation may reduce liquidity with fewer than 26.1M shares outstanding

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VANCOUVER, BC / ACCESS Newswire / July 27, 2026 / GGL Resources Corp. (TSXV:GGL) ("GGL") announces that on July 20, 2026 it has signed a two-staged option to acquire up to a one hundred percent (100%) interest in the Hopper, Kluane, Batt, and Moraine mineral properties (the "Properties") from Strategic Metals Ltd. (TSXV:SMD). All four properties are strategically located on or near key infrastructure which includes roads, power and port facilities. There are no finder's fees associated with the option agreement.

Statement by Matt Turner, Director and Interim CEO of GGL:

"GGL is very pleased to announce the option to acquire 100% interest in a group of properties which host a variety of deposit types, including copper-gold porphyry, skarn, VMS and high-grade epithermal gold targets. The property package is located in one of the lesser explored, but most favourably located portions of the Yukon, along or close to road access, the power grid, and a deep water port of Haines and Skagway, Alaska. Furthermore, all of the properties in this agreement are located within the Traditional Territory of the Champagne Aishihik First Nation and GGL looks forward to working with them as it advances these projects.

GGL can earn an initial seventy percent (70%) interest in the Properties by completing all of the following by December 31, 2029 (the "First Option"):

• issuing 1,000,000 post-consolidation GGL shares to Strategic on or before October 31, 2026;

• incurring $10,000,000 in exploration expenditures on the Properties as follows:

  • $2,000,000 on or before December 31, 2027;

  • $3,000,000 on or before December 31. 2028; and

  • $5,000,000 on or before December 31, 2029;

• included in the initial $2,000,000 exploration expenditure requirement is the reimbursement to Strategic of up to $250,000 related to a 2026 exploration program on the Properties.

GGL can acquire an additional thirty percent (30%) interest in the Properties for a total interest of one hundred percent (100%) by making an additional payment to Strategic of $3,000,000 on or before the earlier of (i) March 31, 2030 and (ii) 90 days following the exercise of the First Option (the "Second Option").

Following the exercise of the Second Option, Strategic will retain a two percent (2%) net smelter return royalty interest in all future commercial production of all commodities from the Properties. GGL will assume Strategic's rights, duties and obligations in respect of the Kluane Royalty after the exercise of the second option. GGL assumes no other rights, duties, or obligations on any of the other properties except those in the normal course of business for an exploration company. GGL will have the right to purchase one-half (1/2) of the Strategic royalty interest for $3,000,000 at any time prior to the commencement of commercial production from any of the Properties.

If GGL elects to exercise the First Option only, GGL and Strategic will form a 70/30 joint venture to explore and develop the Properties.

This transaction is subject to: (i) GGL completing a share consolidation at a ratio equal to four (4) pre-consolidation common shares for one (1) post-consolidation common share; and (ii) each of GGL and Strategic obtaining shareholder approval and TSX Venture Exchange acceptance of the transaction.

The transaction requires the approval of the disinterested shareholders of each of Strategic and GGL at a special meeting of shareholders as Strategic currently holds 30.35% of the GGL issued share capital and the transaction is a "related party" transaction as defined in Multilateral Instrument 61-101 and the TSX Venture Exchange policies. The special meeting of the shareholders of each company will be held on August 31, 2026.

Hopper Property

Strategic holds a one hundred percent (100%) interest in the Hopper property, a copper-gold exploration project located in southwestern Yukon. The property is comprised of 365 quartz mining claims and is accessible via a network of existing roads and trails. It is situated approximately 22 km north of the Otter Falls hydroelectric generator and 320 km from the deep-sea port of Haines, Alaska.

The project hosts both copper-gold skarn and porphyry-style mineralization within the Dawson Range Copper-Gold Belt. Exploration programs including geological mapping, soil geochemical surveying, airborne and ground geophysical surveying, trenching and diamond drilling have identified multiple copper-gold targets associated with a large hydrothermal system. A 3,600 m by 1,000 m copper-in-soil anomaly encompasses the principal Copper Castle, Northern Skarn and Hopkins North targets.

The Copper Castle target comprises at least 11 stacked copper-gold skarn horizons that have been partially delineated over approximately 1,200 m of strike length and a vertical extent of 425 m. Drilling confirmed continuity of mineralization along strike and at depth, with intercepts including 1.87% Cu and 1.04 g/t Au over 15.27 m in hole HOP22-03 and 1.41% Cu and 0.53 g/t Au over 22.28 m in hole HOP-21-DDH-01. The skarn system remains open along strike and down dip.

The Northern Skarn target hosts skarn-style mineralization similar to the Copper Castle system but has received only limited exploration.

The Hopkins North target comprises porphyry-style copper-gold-molybdenum mineralization associated with a hydrothermal alteration system measuring approximately 650 m by 2,300 m. The target lies within the Late Cretaceous Hopper Pluton, a granodiorite intrusion emplaced during the same 75 Ma metallogenic episode responsible for the Casino copper-gold porphyry deposit. Diamond drilling intersected broad intervals of copper mineralization, including 0.22% Cu over 114.38 m in hole HOP-21-DDH-06 from surface and 0.17% Cu over 162.85 m in hole DDH-15-05. Despite its size and extent, the target remains largely untested by drilling. For more information, please see the Hopper Property Technical Report filed on SEDAR December 11, 2025, authored by Jean Pautler, P.Geo.

Kluane Property

Subject to a one percent (1%) net smelter return royalty interest held by an arm's length third party, Strategic holds a one hundred percent (100%) interest in the Kluane property, a gold exploration property located 46 km north of Haines Junction, Yukon. The property is comprised of 245 quartz mining claims.

The Kluane property hosts multiple high-grade gold-bearing quartz-carbonate vein systems within metamorphic rocks of the Kluane Schist and associated intrusive rocks of the Ruby Range Suite. Gold occurs as native gold and in association with arsenopyrite. Exploration to date has identified numerous gold-bearing vein zones through prospecting, geochemical surveying, geophysical surveying, trenching and diamond drilling, including the Rikus, Ross, Malou and Delor zones.

Chip sampling from multiple mineralized exposures along a 400 m section of the Rikus Zone returned an average grade of 3.85 g/t Au over 2.76 m, including a best result of 7.36 g/t Au over 9.5 m. Drill intercepts include up to 5.32 g/t Au over 2.75 m. (Rockhaven Resources Ltd. News Release June 17, 2009). Additional soil geochemical and geophysical anomalies remain only partially tested.

Batt Property

Strategic holds a one hundred percent (100%) interest in the Batt property, a copper-cobalt-gold exploration project located 68 km south of Haines Junction, Yukon. The property is comprised of 52 quartz mining claims and encompasses prospective volcanic and sedimentary rocks of the Wrangellia Terrane that hosts volcanogenic massive sulphide (VMS) and structurally controlled mineralization.

Exploration to date has identified multiple mineralized zones through geological mapping, prospecting, geochemical surveying and trenching. Trench and surface sample results include 0.71% Cu, 0.21% Co and 1.18 g/t Au over 5.7 m; 8.72% Cu, 0.05% Co and 19.9 g/t Ag over 1.0 m; and 2.18% Co with 2.37 g/t Au over 0.5 m (Strategic News Release November 30, 2022). Soil geochemical surveys have also outlined several untested multi-element anomalies across the Batt property.

Moraine Property

Strategic holds a one hundred percent (100%) interest in the Moraine property, a copper-gold-silver-molybdenum-tungsten exploration property located 90 km west-northwest of Whitehorse, Yukon. The property is comprised of 102 quartz mining claims within the Dawson Range Gold Belt and hosts skarn and vein-style mineralization with the potential for an associated porphyry system.

Exploration to date has identified two copper-gold-silver skarn zones and a nearby gold-bearing quartz vein through geological mapping, geochemical surveying and trenching. Reported results include up to 2.1 g/t Au, 425 g/t Ag and 7.22% Cu from the South Skarn, and 13.7 g/t Au from quartz vein float. (Assessment Report describing Prospecting and Geochemical Sampling at the Hooch Property, H. Smith, December 2011). Geophysical surveys and soil geochemical sampling have also outlined numerous untested anomalies across the property.

Qualified Persons

Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., an independent consultant and qualified person for the purpose of National Instrument 43-101.

Consolidation of the Company's Common Shares

The Board of Directors has approved an alteration to the Company's share structure by consolidating all of the Company's issued and outstanding shares on the basis of one (1) new common share for four (4) old common shares. The share consolidation will reduce the 104,357,475 shares of the Company currently issued and outstanding to approximately 26,089,368 shares. No fractional shares will be issued. Any fraction of a share will be rounded down to the nearest whole number of common shares.

About GGL Resources Corp.

GGL is a seasoned, Canadian-based junior exploration company, focused on the exploration and advancement of under evaluated mineral assets in politically stable, mining friendly jurisdictions. The Company owns the McConnell Project, which hosts mesothermal gold veins and an under explored porphyry copper-gold prospect in the Kemess District of north-central British Columbia. The Company has optioned the vein portion of its 100% owned and optioned claims in the Gold Point district of the prolific Walker Lane Trend, Nevada. The Gold Point claims cover several gold-silver veins, five of which host past producing high-grade mines, as well as an exciting new Cu-Mo-Au porphyry target. GGL also holds diamond royalties on mineral leases adjacent to the Gahcho Kué diamond mine and southwest of the Ekati diamond mine in the Northwest Territories.

ON BEHALF OF THE BOARD

"Matthew Turner"

Interim Chief Executive Officer and Director

For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:

Investor Inquiries
Richard Drechsler
Corporate Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com

Corporate Information
Linda Knight
Corporate Secretary
Tel: (604) 688-0546
info@gglresourcescorp.com

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

Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "high", "evaluated", "potential", "significant" and similar expressions, or that events or conditions "may", "could" or "will" occur. GGL cautions that all forward- looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the control of GGL. Such factors include, among other things: risks and uncertainties relating to exploration and development and the results thereof, including the results of the recently completed drill program, the impact on future mineral resource estimates, the potential for new discoveries, and the results of future metallurgical programs, as well as the ability of GGL to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in GGL's financial statements available under the GGL profile at www.sedarplus.ca. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GGL undertakes no obligation to publicly update or revise forward-looking information.

SOURCE: GGL Resources Corp.

View the original press release on ACCESS Newswire

FAQ

What is GGL Resources (GGLXF) acquiring from Strategic Metals in July 2026?

GGL Resources is optioning the Hopper, Kluane, Batt and Moraine mineral properties in southwestern Yukon. According to GGL, these copper‑gold focused projects cover multiple skarn, porphyry, VMS and epithermal targets located near roads, power infrastructure and ports in a favorable mining jurisdiction.

What are the key financial terms of GGL Resources’ option agreement for the Yukon properties (GGLXF)?

GGL can earn 70% by issuing 1,000,000 post‑consolidation shares and spending $10,000,000 on exploration by 2029. According to GGL, paying a further $3,000,000 by early 2030 allows increasing its interest to 100%, subject to a retained 2% NSR royalty.

How will GGL Resources’ 1-for-4 share consolidation affect GGLXF shareholders?

The 1‑for‑4 consolidation will reduce outstanding shares from 104,357,475 to about 26,089,368. According to GGL, no fractional shares will be issued and fractions are rounded down, which changes share count but not total company value by itself.

What approvals are required for GGL Resources’ Yukon option deal and share consolidation (GGLXF)?

The transaction requires GGL’s 1‑for‑4 share consolidation, disinterested shareholder approval at both companies, and TSX Venture Exchange acceptance. According to GGL, special shareholder meetings for GGL and Strategic are scheduled for August 31, 2026 to seek these approvals.

What royalty terms apply if GGL Resources acquires 100% of the Yukon properties (GGLXF)?

If GGL completes the second option and acquires 100%, Strategic keeps a 2% net smelter return royalty on future production. According to GGL, it may purchase half of this royalty, or 1%, at any time before commercial production for $3,000,000.

What exploration spending commitments has GGL Resources made on the Yukon projects (GGLXF)?

GGL has committed to $10,000,000 of exploration to earn a 70% interest, including up to $250,000 reimbursing 2026 work. According to GGL, scheduled expenditures are $2,000,000 by 2027, $3,000,000 by 2028, and $5,000,000 by 2029.

What happens if GGL Resources only exercises the first option on the Yukon properties (GGLXF)?

If GGL exercises only the first option, it will hold 70% and Strategic 30%, and they will form a joint venture. According to GGL, this 70/30 structure would govern further exploration and development of the Hopper, Kluane, Batt and Moraine properties.