Golcap Resources Corp. (CNSX:GCP) agreed to acquire Kogaluk Gold Project for CAD 5.93 million on May 2, 2024. Acquisition terms for 100% of Kogaluk are as follows: Golcap will issue 1 million treasury shares upon completion, Golcap will make annual cash payments of CAD 50,000 at the end of Year 1, CAD 100,000 in Year 2 and CAD 150,000 in Year 3, Golcap will grant a 2% NSR, with 1% repurchaseable for CAD 2 million, Golcap will make the following success-based payments: CAD 500,000 on positive feasibility study or 500,000 oz Measured+Indicated 43-101- compliant resource and CAD 5 million payment is due 90 days past the start of commercial production.

Golcap Resources Corp. (CNSX:GCP) completed the acquisition of Kogaluk Gold Project on May 2, 2024.