Quadro Maintains 49% Interest in Staghorn Property as Parties Agree to Pursue Joint Venture Arrangement

Rhea-AI Summary

Quadro Resources (OTC:QDROF) announced that TRU Precious Metals has completed its 51% earn-in at the Staghorn Property in Newfoundland and Labrador, with Quadro maintaining a 49% interest. TRU has opted not to proceed with the Additional Option under their June 2022 agreement.

The companies will now pursue a Joint Venture Agreement (JVA) to govern their respective rights and obligations for the property. Assay results from TRU's 2025 drill program are pending, which will help shape future exploration plans. Quadro is exploring funding options, including flow-through and hard-dollar financings, to support future exploration activities.

Positive

• None.

Negative

• Loss of opportunity to gain additional interest as TRU declines Additional Option
• Will need to secure funding to maintain participation in future exploration activities

Vancouver, British Columbia--(Newsfile Corp. - August 6, 2025) - Quadro Resources Ltd. (TSXV: QRO) (OTC Pink: QDROF) (FSE: G4O) ("Quadro" or the "Company") announces that TRU Precious Metals Corp. ("TRU") has elected not to proceed with the Additional Option under the Option Agreement dated June 15, 2022 (as amended), relating to Quadro's Staghorn Property in Newfoundland and Labrador.

As a result, TRU has completed its earn-in of a 51% interest in the Staghorn Property, and Quadro retains a 49% interest. The parties have agreed to pursue the negotiation and finalization of a Joint Venture Agreement (JVA) to govern their respective rights and obligations in relation to the property going forward.

Quadro President and CEO T. Barry Coughlan commented: "We welcome TRU's continued involvement at Staghorn and look forward to working constructively toward the establishment of a Joint Venture Agreement. With Quadro maintaining a 49% ownership interest, we remain well positioned to benefit from the long-term exploration and development potential of this highly prospective gold and copper system."

Assay results from TRU's 2025 drill program are pending, and Quadro believes these will be instrumental in shaping future exploration plans and strategic options. The Company is also evaluating funding opportunities, including potential flow-through and hard-dollar financings, to support its future participation in exploration activities and to preserve shareholder value.

About Quadro Resources - Quadro Resources Ltd. is a publicly traded mineral exploration company with approximately 28.5 million shares outstanding, listed on the TSX Venture Exchange under the ticker symbol "QRO." The Company is dedicated to advancing gold exploration projects across North America. Quadro holds a 49% ownership interest in the Staghorn property, which is currently optioned to TRU Precious Metals Corp., and owns a 100% interest in the Long Lake property, both strategically situated along the Cape Ray Fault in Newfoundland.

On behalf of the board of directors,

Quadro Resources Ltd.

"T. Barry Coughlan"
President and CEO

Tel (604) 644-9561
info@quadroresources.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." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections." For more information on the Company, interested parties should review the Company's filings that are available at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261485

FAQ

What percentage stake does Quadro Resources (QDROF) maintain in the Staghorn Property?

Quadro Resources maintains a 49% interest in the Staghorn Property, while TRU Precious Metals holds a 51% stake.

What is the next step for Quadro Resources and TRU Precious Metals regarding the Staghorn Property?

The companies will pursue negotiation and finalization of a Joint Venture Agreement (JVA) to govern their respective rights and obligations for the property.

What potential funding options is Quadro Resources exploring for future operations?

Quadro is evaluating funding opportunities including flow-through and hard-dollar financings to support future exploration activities.

When will the results from TRU's 2025 Staghorn Property drill program be available?

The assay results from TRU's 2025 drill program are currently pending and will help shape future exploration plans.

Where is the Staghorn Property located?

The Staghorn Property is located in Newfoundland and Labrador, Canada.