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Transatlantic Mining Enters 2nd Lease Renewal Term at Miller Gold Mine, Montana, Drill Rig Mobilized

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Transatlantic Mining Corp. (TSXV: TCO) has entered its Second Renewal term at the Miller Gold Mine in Montana after completing its First Renewal term. The company has mobilized a drill rig to explore the property, planning up to 3,000 meters of drilling this year targeting untested deeper zones. The Miller Mine, located in Broadwater County, has a notable historical production with an average recovered grade of 7.94 Oz/ton Au (248 g/t Au) and 4.65 Oz/ton Ag. The lease arrangement includes a payment royalty of 8.5% on produced ounces until cumulative payments reach $4.5M USD, after which a 1% gold NSR applies. The Second Renewal term requires a $100,000 consideration with a minimum $100,000 spend over 24 months. Drill results are expected within 6-8 weeks after the campaign completion.
Transatlantic Mining Corp. (TSXV: TCO) ha iniziato il suo Secondo periodo di rinnovo presso la Miller Gold Mine in Montana, dopo aver completato il Primo periodo di rinnovo. La società ha mobilitato una trivella per esplorare la proprietà, pianificando fino a 3.000 metri di perforazione quest'anno, con l'obiettivo di indagare zone più profonde mai testate. La Miller Mine, situata nella contea di Broadwater, vanta una produzione storica significativa con una media di oro recuperato di 7,94 Oz/ton Au (248 g/t Au) e 4,65 Oz/ton di argento. L'accordo di locazione prevede una royalty del 8,5% sulle once prodotte fino a quando i pagamenti cumulativi raggiungono 4,5 milioni di dollari USA, dopodiché si applica un NSR sull'oro dell'1%. Il Secondo periodo di rinnovo richiede un pagamento di 100.000 dollari e una spesa minima di 100.000 dollari in 24 mesi. I risultati delle perforazioni sono attesi entro 6-8 settimane dal completamento della campagna.
Transatlantic Mining Corp. (TSXV: TCO) ha entrado en su Segundo período de renovación en la Mina de Oro Miller en Montana tras completar el Primer período de renovación. La compañía ha movilizado un equipo de perforación para explorar la propiedad, planificando hasta 3,000 metros de perforación este año con el objetivo de explorar zonas profundas no probadas. La Mina Miller, ubicada en el condado de Broadwater, tiene una producción histórica notable con un grado promedio recuperado de 7,94 Oz/ton Au (248 g/t Au) y 4,65 Oz/ton de plata. El acuerdo de arrendamiento incluye un pago de regalías del 8,5% sobre las onzas producidas hasta que los pagos acumulados alcancen los 4,5 millones de dólares estadounidenses, después de lo cual se aplica un NSR del 1% sobre el oro. El Segundo período de renovación requiere una consideración de 100,000 dólares y un gasto mínimo de 100,000 dólares en 24 meses. Se esperan resultados de perforación dentro de 6-8 semanas después de completar la campaña.
Transatlantic Mining Corp. (TSXV: TCO)는 첫 번째 갱신 기간을 완료한 후 몬태나의 밀러 금광에서 두 번째 갱신 기간에 진입했습니다. 회사는 부지 탐사를 위해 드릴 장비를 동원했으며, 올해 최대 3,000미터의 시추를 계획하여 미검증 심층 구역을 목표로 하고 있습니다. 브로드워터 카운티에 위치한 밀러 금광은 평균 회수 등급이 7.94 온스/톤 Au (248 g/t Au) 및 4.65 온스/톤 은으로 주목할 만한 역사적 생산 실적을 가지고 있습니다. 임대 계약에는 누적 지급액이 450만 달러에 도달할 때까지 생산된 온스에 대해 8.5%의 로열티 지급이 포함되며, 이후에는 1% 금 NSR이 적용됩니다. 두 번째 갱신 기간에는 10만 달러의 대가 지급과 24개월 동안 최소 10만 달러의 지출이 요구됩니다. 시추 결과는 캠페인 완료 후 6-8주 내에 기대됩니다.
Transatlantic Mining Corp. (TSXV : TCO) est entrée dans sa deuxième période de renouvellement à la mine d'or Miller dans le Montana, après avoir terminé sa première période de renouvellement. La société a mobilisé une foreuse pour explorer la propriété, prévoyant jusqu'à 3 000 mètres de forage cette année, ciblant des zones plus profondes non testées. La mine Miller, située dans le comté de Broadwater, présente une production historique notable avec un grade moyen récupéré de 7,94 Oz/tonne Au (248 g/t Au) et 4,65 Oz/tonne d'argent. L'accord de location comprend un paiement de redevance de 8,5 % sur les onces produites jusqu'à ce que les paiements cumulés atteignent 4,5 millions de dollars US, après quoi un NSR de 1 % sur l'or s'applique. La deuxième période de renouvellement nécessite une contrepartie de 100 000 $ et une dépense minimale de 100 000 $ sur 24 mois. Les résultats des forages sont attendus dans les 6 à 8 semaines suivant la fin de la campagne.
Transatlantic Mining Corp. (TSXV: TCO) hat nach Abschluss der ersten Verlängerungsperiode die zweite Verlängerungsperiode der Miller Gold Mine in Montana begonnen. Das Unternehmen hat eine Bohranlage mobilisiert, um das Grundstück zu erkunden, und plant in diesem Jahr bis zu 3.000 Meter Bohrungen, um bislang ungetestete tiefere Zonen anzuzielen. Die Miller Mine, gelegen im Broadwater County, weist eine bemerkenswerte historische Produktion mit einem durchschnittlich zurückgewonnenen Gehalt von 7,94 Oz/ton Au (248 g/t Au) und 4,65 Oz/ton Silber auf. Der Pachtvertrag beinhaltet eine Lizenzgebühr von 8,5 % auf produzierte Unzen, bis kumulierte Zahlungen 4,5 Mio. USD erreichen, danach gilt eine 1 % Gold-NSR. Die zweite Verlängerungsperiode erfordert eine Zahlung von 100.000 USD und eine Mindestausgabe von 100.000 USD über 24 Monate. Bohrergebnisse werden 6-8 Wochen nach Abschluss der Kampagne erwartet.
Positive
  • Historical high-grade production with 7.94 Oz/ton Au (248 g/t Au) average recovered grade
  • Drill rig mobilized with plans to drill 3,000 meters this year
  • Previous drilling showed promising results with Hole #1 recording 14.7 Oz/ton Au (516 g/t Au)
  • Recent grab samples from Lower Level Winze showed 27.6 g/t Au with visible gold
Negative
  • High royalty payment of 8.5% on production until $4.5M USD threshold
  • Long wait time of 6-8 weeks for drill results
  • Additional financial commitments required with $100,000 consideration and minimum spend

Vancouver, British Columbia--(Newsfile Corp. - May 28, 2025) - Transatlantic Mining Corp. (TSXV: TCO) (the "Company") is pleased to announce the company has fully satisfied the term of its First Renewal term and is now entering into it its Second Renewal term of its lease arrangement.

On Dec 21, 2020 Transatlantic exercised its option to acquire 100% of the Miller Mine located in the Broadwater County in the State of Montana , USA. These claims are approximately 29 miles to the northeast of Townsend in Montana USA with gold mineralization that has been verified on the old levels of the historic Miller mine.

Key components of the transaction:

Transatlantic has now satisfied the first renewal term and exclusive lease arrangement with a right to all data and information for the Miller Mine Patented and Unpatented claims in Broadwater County, Montana USA. A drill rig is now mobilized to site as Transatlantic continues to explore the property around the historical drilling which was conducted by Jericho Mines Ltd in 1968-69 as reported by Hemsworth July 2, 1969, and the old levels with production records.

  • A First Renewal term, now completed, of twenty-four (24) months following the expiry of the due diligence period for consideration of $100,000 in cash or share equivalent between 5 and 10 cents CAD at Transatlantic mining election subject to TSX approval. On that election, Transatlantic to spend $100,000 in the first renewal term.

  • A Second Renewal term of twenty-four (24) months on the expiry of the First Renewal Term for consideration of $100,000 with a minimum $100,000 spend in that period.

Should mining occur at anytime, there will be an 8.5 % payment royalty on ounces produced until the cumulative payments including the Initial Term ,first renewal term, second renewal term and royalties related to the Miller Mine reaches $4.5 Million USD for change in ownership to 100 % Transatlantic and then a 1% gold NSR to the vendor thereafter.

Transatlantic has received its drill permit for the Miller Mine and plans to drill down dip of the historic lower levels to over 100 metres of strike and depth on the principal vein structure. The ground conditions are envisaged to be good where the old workings have been accessed. Transatlantic plans to drill up to 3,000 meters this year targeting the untested deeper zones as per Figure 1 below. Results from the assay laboratories are expected from 6 to 8 weeks after the drill campaign and geological evaluation is completed.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4652/253542_47500fa76474fbce_001.jpg

Figure 1 - Miller Mine Resource Drilling Target Areas

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4652/253542_47500fa76474fbce_001full.jpg

Webinar Recording: CEO Bernie Sostak hosts an interactive webinar discussing the company's drill program and future plans at Miller: Click HERE to view.

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Fig 2. Drill Rig at the Miller Mine in Montana

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4652/253542_47500fa76474fbce_002full.jpg

The Miller Gold Mine is located in the Broadwater County in the State of Montana, USA. The mine is approximately 29 miles northeast of Townsend in Montana USA. The presence of gold mineralization has been confirmed by previous sampling in areas of the mine where access is possible. Transatlantic is earning into the historic Miller Gold Property by means of a gold production royalty near Helena, Montana.

A historical Report on the Miller Mine notes that historically, gold bearing ore was mined on a small scale by individual owners with sporadic production between 1901 and 1948. The mine is being re accessed by Transatlantic to review existing ground conditions and infrastructure for ongoing rehabilitation.

Located at the top end of the Confederate Gulch near what is now a ghost town in Diamond City ,of which had once a population of + 10,000. Placer gold was abundant and rich in this Gulch.

  • Miller had an average recovered mine grade of 7.94 Oz /ton Au (248 g/t Au ) and 4.65 Oz /ton Ag ( 145 g/t Ag)

  • Hole #1 was drilled 300 feet below the lowest recorded workings and recorded 14.7 Oz /ton Au (516 g/t Au)

The Miller Mine mineralization occurs in quartz veins within and on the contact of a quartz granodiorite stockwork. The discrete veins dip between 30 and 80 degrees whilst the stockwork has multiple veinlets that range in width from a few cms to 2 metres. The contact zone of alteration has been noted as over 15 m wide ( 50 feet ). Mining has been undertaken on both an open cut and underground methodology. The mine is at an elevation of 2000 m ( 6650 feet)

Highlights of previous sampling ( see news release dated June 14, 2023)

Miller Mine -Lower Level

  • Opened up Lower Winze Level immediately below the Lower Level.

  • First grab samples from Lower Level Winze include 27. 6 g/t Au(*), visual gold has also been observed.

  • Extended Lease Agreement to first renewal term with option to purchase by production royalty.

About the Miller Mine and Claim Group:

Transatlantic has access to the Upper and Lower Level of the mine. The Miller Mine is situated amongst patented and unpatented claims at an elevation of 1920 m (6,400 feet) and accessible by roads 50 miles from Helena, Montana USA. Should mining occur at any time, an 8.5 % royalty on ounces is to be paid. During the term of the agreement, the Company may purchase the property for US $4,500,000, less the royalty payments made above, with a perpetual 1 % NSR to the vendor thereafter.

The gold and silver mineralization generally occurs on the contacts of sediments and igneous intrusive with native gold and sulphides including pyrite often observed amongst the 4 known adits located on the property.

Qualified Person and NI 43-101 Disclosure

Aslam Awan PhD MAusIMM (CP Geo) is the Qualified Person pursuant to National Instrument 43-101 for having reviewed, only the technical information contained in this news release. Mr. Awan is the Principal for AAA Geo Consultants.

QA/QC and Core Sampling Protocols

(*)The rock chip samples are grabs from the winze level drive of 5 kg in weight. The samples were crushed in whole to plus 70 % passing 2 mm and then split and pulverised with analysis for gold and silver at the Christofferson Laboratory, Smelterville, Idaho USA. The Laboratory is an independent assay and umpire laboratory that follows industry techniques. The samples after being pulverised are analysed with a 15 to 30 gram fire assay charge and gravimetrically finished.

About Transatlantic Mining Corp.

Transatlantic Mining (TSXV: TCO) is an emerging precious and base metal explorer. The Company has a focus on converting projects into mines within stable mining jurisdictions. The Company currently has property interests including an 80% Joint Venture position on the Monitor Copper-Gold project in Montana-Idaho (USA) and 100 % of the Golden Jubilee Gold Project with its associated mining rights. The Company has an extended lease, right to mine and purchase arrangement for the Miller Gold Mine in Montana to 100% ownership by way of payment royalty.

ON BEHALF OF THE BOARD OF DIRECTORS

"Bernie Sostak"

For more information contact
eeinarson@transatlanticminingcorp.com
604-614-8469

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253542

FAQ

What are the terms of TRRGF's Second Renewal term at the Miller Gold Mine?

The Second Renewal term is 24 months long and requires a $100,000 consideration payment plus a minimum spend of $100,000 during that period.

What was the historical gold grade at the Miller Gold Mine?

The Miller Mine had an average recovered grade of 7.94 Oz/ton Au (248 g/t Au) and 4.65 Oz/ton Ag (145 g/t Ag) during its historical production.

How many meters does TRRGF plan to drill at Miller Gold Mine in 2025?

Transatlantic Mining plans to drill up to 3,000 meters in 2025, targeting untested deeper zones at the Miller Mine.

What is the royalty structure for TRRGF's Miller Gold Mine?

There is an 8.5% payment royalty on produced ounces until cumulative payments reach $4.5M USD, after which it converts to a 1% gold NSR to the vendor.

Where is TRRGF's Miller Gold Mine located?

The Miller Gold Mine is located in Broadwater County, Montana, approximately 29 miles northeast of Townsend.
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