RJK Explorations Ltd Completes Claims Acquisition from Record Resources Inc.

Rhea-AI Summary

RJK Explorations (RJKAF) completed the acquisition of six contiguous staked claim blocks in the Lorrain-Bucke Townships Property totaling about 2,650 hectares from Record Resources.

RJK gains a 100% interest in diamonds, precious and base metals, subject to royalties, future cash payments, and work commitments.

AI-generated analysis. Not financial advice.

Positive

• Acquires 100% interest in six Lorrain-Bucke claim blocks totaling ~2,650 hectares
• Retains full rights to diamonds, precious and base metals on the property
• Can buy back 0.5% of Record’s 1% GOOR royalty for $500,000
• Plans to apply approximately $52,000 in work commitments from assessment surplus
• Option to fully exercise agreement early by advancing remaining vendor cash payments

Negative

• Production subject to 2% vendors net smelter royalty and GOOR royalty
• Grants Record an additional 1% GOOR royalty on diamond-bearing kimberlite discoveries
• RJK owes a $23,000 cash payment in February 2027 to initial vendors
• RJK holds no royalty or rights on hydrogen or hydrocarbon discoveries
• Record must still pay $23,000 in February 2028 to initial vendors to complete terms

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Kirkland Lake, Ontario--(Newsfile Corp. - June 17, 2026) - RJK Explorations Ltd. (TSXV: RJX.A) (the "Company") reports that it has now acquired six contiguous blocks of staked claims (Lorrain-Bucke Townships Property) totaling approximately 2,650 hectares from Record Resources Inc., (Record), (please see the company's January 14, 2025 news release of the acquisition).

RJK, will gain a 100% interest, subject to an underlying 2% Vendors Net Smelter Royalty and GOOR Royalty, to the production of Diamonds, Precious and Base-Metals.

Record will keep 100% of the rights to any hydrogen or hydrocarbons found by work completed by RJK or its affiliates on the Lorrain-Bucke Townships Properties. RJK will hold no royalty on hydrogen or hydrocarbon discoveries.

In addition, RJK will grant to Record a 1% gross over-riding royalty (GOOR) interest on the discovery of any diamond-bearing kimberlite pipes with a buy-back provision of 0.5% for $500,000.

Following the transaction RJK is obligated to make one cash payment of $23,000 in February 2027 with Record being obligated to make the final cash payment of $23,000 in February 2028 to the initial vendors of the staked claims. RJK and Record can fully exercise this option agreement by paying the vendors the balance of the cash payments in advance.

RJK will apply approximately $52,000 in work commitments on the claims acquired from Record from an assessment surplus RJK has on their Lorraine clam block to keep the claims in good standing.

Contact Information

Glenn Kasner, CEO
Mobile: (705)568-7567
Email: info@rjkexplorations.com
Web Site: https://www.rjkexplorations.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.

Forward Looking Statements

Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Offering generally, the proceeds that may be raised in connection with the Offering, the proposed use of proceeds and the Company's exploration plans. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about our ability to close additional tranches of the Offering in a timely manner, if at all, and the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include the ability of the Company to meet the conditions of closing, our ability to conduct our exploration programs as planned, changes in equity markets, share price volatility, volatility of global and local economic climate, diamond price volatility, political developments, increases in costs, exchange rate fluctuations, speculative nature of diamond exploration and other risks involved in the diamond exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301747

FAQ

What acquisition did RJK Explorations (RJKAF) complete on June 17, 2026?

RJK Explorations completed acquiring six contiguous Lorrain-Bucke Townships claim blocks totaling about 2,650 hectares from Record Resources. According to the company, this gives RJK a 100% interest in diamonds, precious metals, and base metals on the property, subject to royalties.

What interest does RJK Explorations (RJKAF) gain in the Lorrain-Bucke Townships Property?

RJK gains a 100% interest in the Lorrain-Bucke claims for diamonds, precious and base metals. According to the company, this interest is subject to a 2% vendors net smelter royalty and GOOR royalty, plus a separate 1% GOOR on diamond-bearing kimberlite discoveries.

What royalty terms apply to the new RJK Explorations (RJKAF) claims from Record Resources?

Production is subject to a 2% vendors net smelter royalty and GOOR royalty, plus a 1% GOOR on any diamond-bearing kimberlite pipes. According to the company, RJK can buy back 0.5% of the kimberlite GOOR royalty for $500,000.

Who retains hydrogen and hydrocarbon rights on the Lorrain-Bucke claims after RJK Explorations’ deal?

Record Resources keeps 100% of hydrogen and hydrocarbon rights on the Lorrain-Bucke properties. According to the company, RJK and its affiliates may conduct work, but RJK will hold no royalty interest in any hydrogen or hydrocarbon discoveries made on these claims.

What future cash payments are required under the RJK Explorations (RJKAF) Lorrain-Bucke option?

RJK must pay $23,000 in February 2027, while Record must pay $23,000 in February 2028 to the initial vendors. According to the company, both parties may fully exercise the option early by paying the remaining vendor balances in advance.

How will RJK Explorations (RJKAF) fund work commitments on the newly acquired Lorrain-Bucke claims?

RJK plans to apply about $52,000 in work commitments to the acquired claims from an assessment surplus on its Lorraine clam block. According to the company, this will help keep the new Lorrain-Bucke claims in good standing with regulators.