Guardian Completes Acquisition of Sundog Gold Project in Kivalliq, Nunavut
Calgary, May 2, 2025 - Guardian Exploration Inc. (TSXV: GX) (OTCQB: GXUSF) (Frankfurt: R6B) ("Guardian" or the "Company") is pleased to announce that it has completed the acquisition of the 100% interest in the mineral rights and exploration data associated with the 9,415 hectare Sundog gold project located in Kivalliq Region, Nunavut (the "Sundog Property") formerly owned by New Break Resources Ltd. (CSE: NBRK) ("New Break") held pursuant to an Inuit Owned Lands Mineral Exploration Agreement ("MEA") and 60 drums of JetA fuel located in Arviat, Nunavut (together with the Sundog Property, the "Assets"). The proposed acquisition was originally announced on December 9, 2024. In consideration for the Assets, Guardian has issued 5,000,000 common shares in the share capital of the Company to New Break and has made a cash payment of $75,000. Guardian also reimbursed New Break for the $18,830 it paid for the 2024-2025 annual rent with respect to the Sundog Property. Guardian has assumed all of the obligations under the MEA including the annual exploration expenditure requirements and annual rent payments due to Nunavut Tunngavik Incorporated.
In connection with the Acquisition, Guardian granted an option to New Break to purchase a 20% interest in the Sundog project at any time for $1.00, carried through to a decision to mine. Upon exercise, the parties will enter a joint venture agreement on mutually agreed terms.
The Acquisition of Sundog is an Arm's Length Transaction under the policies of the TSX Venture Exchange (the "Exchange"). Completion of the Acquisition was subject to approval from the Exchange, NTI and the boards of Guardian and New Break as well as other conditions usual to transactions of this nature, all of which were obtained or fulfilled.
About Guardian Exploration Inc.
Guardian is a TSXV listed company (TSXV: GX) (OTCQB: GXUSF) (Frankfurt: R6B) in the business of oil and gas as well as mineral exploration and development. Guardian's first prospect is the Mount Cameron Property located in the Yukon's Mayo Mining District. Guardian also holds mineral claims located on southern Dall Island, Southeast Alaska, USA, known as the Kaigani claims, which it acquired in February 2022.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Graydon Kowal
President and CEO
(403) 730-6333
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 news release.
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