Peak Minerals Expands into Gold Exploration with Acquisition of 1494741 B.C. Ltd.

Peak Minerals Ltd. (CSE: PEK) has announced its entry into the gold exploration sector with the acquisition of a 100% interest in 1494741 B.C. Ltd. (149 BC), an arm's length private exploration stage company holding interests in certain gold concessions located in the Tapanahony resort within the Silipanwini District in the Republic of Suriname. The acquisition, valued at CAD 12 million, is expected to close on or around March 3, 2025.

The Tapanahony Project, covering 29,000 hectares, boasts significant artisanal mining and historical exploration, with multiple gold targets ranging from large gold-in-soil anomalies to those with limited drilling. The project's database includes airborne geophysics, semi-quantitative panning of drainages, and large auger grids, indicating the presence of valuable mineral resources. Management believes Suriname's mining-friendly jurisdiction and successful gold exploration history make the Tapanahony Project an attractive acquisition target.

The acquisition will be completed by way of the acquisition of all the outstanding equity interests of 149 BC, with Peak Minerals issuing 12,000,000 common shares in the capital of the Company to the shareholders of 149 BC on a pro rata basis. The Consideration Shares will be subject to a four-month hold period pursuant to the securities laws in Canada. Closing is expected to occur on or around March 3, 2025.



Peak Minerals' entry into the gold exploration sector aligns with its investment objectives of locating and developing economic precious and base metal properties of merit. The acquisition of 149 BC provides Peak Minerals with exposure to a new geographical region, expanding its presence beyond Canada and Australia. Suriname's successful gold exploration history and mining-friendly jurisdiction further enhance the attractiveness of the Tapanahony Project.



In conclusion, Peak Minerals' acquisition of 1494741 B.C. Ltd. is a strategic move that expands the company's mineral exploration portfolio into the gold-rich Tapanahony Project in Suriname. The acquisition aligns with Peak Minerals' investment objectives and provides exposure to a new geographical region with a successful gold exploration history. The transaction is expected to bring synergies in geographical diversification, resource diversification, and potential for significant gold discoveries.