LOI To Acquire The Ophir Creek Placer Gold Mine

WALLACE, ID – Magellan Coper and Gold Corp. has entered into a letter of intent to acquire the Ophir Creek Placer Gold Mine from Village Gold, Inc. The project is located near Ophir, Alaska. The project is comprised of 9 Alaska State Mining Claims comprising approximately 620 acres. There are additional Bureau of Land Management federal mining claims which are scheduled to be conveyed to the State of Alaska at which time, those additional claims will become part of the Village Gold claims package.
The project is a fully permitted mining project by the State of Alaska Department of Natural Resources under permit APMA #3091. Mining activity on State of Alaska lands can commence in 2026 as soon as the area is seasonably accessible. Representatives from Magellan visited the site in July of 2025 and performed a systematic sampling program focused on previously mined areas on the property. There is also an intrusive related gold target near the property where exploration for a hard rock deposit may be incorporated into the overall exploration plan for the project.
The Company believes that the Ophir Project gives the company an exceptional opportunity to become a near-term producer while it works to move its other projects forward and continues looking for additional projects that management believes will have a chance to add significant value to its shareholders.