REG - Ormonde Mining PLC - Investee Company Update: TRU Precious Metals

Equinox GoldAnnouncement

11/07/2025 08:00

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RNS Number : 6196Q  Ormonde Mining PLC  11 July 2025

11 July 2025

Ormonde Mining plc

("Ormonde" or the "Company")

 

Investee Company Update: TRU Precious Metals

 

TRU strengthens Golden Rose landholding and completes first drill programme

 

Ormonde Mining plc (https://ormondemining.com/) (AQSE: ORM), the natural
resources company with investment exposure to outstanding gold and battery
metal exploration assets, notes an announcement
(https://www.trupreciousmetals.com/news-page/tru-exercises-initial-option-to-acquire-51-interest-in-staghorn-property)
yesterday by its 36.5%-owned investee company TRU Precious Metals Corp. (TSXV:
TRU, OTCQB: TRUIF) ("TRU"), which is exploring for gold and copper in the
highly prospective Central Newfoundland Gold Belt in Canada.

 

TRU has strengthened its Golden Rose Project landholding by exercising its
initial option to acquire a 51% interest in the Staghorn Property which
represents approximately 11% of the total Golden Rose Project.

 

TRU also announced it has completed a 1,988 metre diamond drill program at
Golden Rose with assay results pending.

 

Brian Timmons, Executive Chair of Ormonde, commented:

 

"Today's announcement strengthens TRU's ownership of Golden Rose, located on
the highly prospective Valentine Lake Shear Zone, an area of significant
interest for gold. They have also completed their recent drilling programme,
funded by Eldorado Gold Corporation (NYSE: EGO, TSE: ELD), and we look forward
to the results of that in due course."

 

The full announcement issued by TRU appears below.

 

 

TRU Exercises Initial Option to Acquire 51% Interest in Staghorn Property

 

Toronto, Ontario - July 10, 2025 - TRU Precious Metals Corp. (TSXV:TRU,
FSE:706) ("TRU" or the "Company") is pleased to announce that it has formally
exercised the Initial Option to acquire a 51% interest in the Staghorn
Property pursuant to an option agreement between TRU and Quadro Resources Ltd.
("Quadro") dated June 15, 2022 as subsequently amended (the "Option
Agreement"). The Company satisfied all of the requirements set forth in the
Option Agreement for the Initial Option, including the completion of a minimum
expenditure drill program. (see News Release June 16, 2022
(https://trupreciousmetals.us2.list-manage.com/track/click?u=e455c1ec5632095595d2ef292&id=ff7d9826ea&e=d374b01049)
and August 18, 2022
(https://trupreciousmetals.us2.list-manage.com/track/click?u=e455c1ec5632095595d2ef292&id=b0a3ff966c&e=d374b01049)
). The Staghorn licenses represent approximately 11% of the total Golden Rose
Project ("Golden Rose") licenses area strategically located along the gold
deposit bearing Cape Ray - Valentine Lake Shear Zones in Central Newfoundland.

Pursuant to Section 3.3 of the Option Agreement, upon exercising the Initial
Option, TRU has a 30-day period during which it can provide written notice of
its intention to exercise the Additional Option which would enable TRU to
acquire an additional 14% interest in the Staghorn Property.  The exercise of
the Additional Option would require the Company to pay $200,000 cash and incur
$850,000 of exploration expenditures, including $510,000 of drilling activity
on the Staghorn Property, within two years of exercising the Initial Option.

The Company also announces that it has completed a 1,988 metre diamond drill
program at its Golden Rose Golden Rose Project ("Golden Rose"). The 2025
drilling program was focused upon a portion of the Mark's Pond to Rich House
"exploration fairway" (see News Release dated April 03, 2025
(https://trupreciousmetals.us2.list-manage.com/track/click?u=e455c1ec5632095595d2ef292&id=9db0b3aa0d&e=d374b01049)
) which was selected based upon its interpreted prospectivity, and to comply
with the minimum expenditure drilling commitments, as a portion of the
Staghorn Property is located within the exploration fairway. (see Figure 1)

Assay results from the drill program are still pending and will be reported
upon when received.

In the meantime, the Company's field crew will be following up with a focussed
mapping and ground truthing program aimed at further refining the geological
and structural site-wide model and expanding the pipeline of quality drill
targets beyond the initial area of drilling focus.

Figure 1: Initial Exploration Fairway at Golden Rose

About TRU Precious Metals Corp.

TRU (TSXV:TRU, OTCQB:TRUIF, FSE:706) is on a mission to build long-term
shareholder value through prudent natural resource property development. The
company's flagship project is the Golden Rose Project a regional-scale 297.50
km2 land package in Central Western Newfoundland (includes a 33.25 km(2)
package of claims over which TRU has a 51% interest and an option with
TSX-listed Quadro Resources Ltd. to acquire an additional 14% ownership) which
straddles a 45 km strike length along the gold deposit-bearing Cape Ray -
Valentine Lake Shear Zone, directly between Equinox Gold's Valentine Project
and AuMEGA Metals' Cape Ray Gold Project. TRU is currently focused on
efficiently discovering the full gold and copper potential at Golden Rose,
targeting continuity along this proven gold bearing trend.  The Golden Rose
Project is currently subject to an Earn-In Agreement with TSX-listed Eldorado
Gold Corporation ("Eldorado"), whereby Eldorado has the option to fund
CAD15.25M in cash payments and exploration expenditures over 5 years to earn
an 80%-interest in the Golden Rose project.  Please refer to the July 30,
2024
(https://trupreciousmetals.us2.list-manage.com/track/click?u=e455c1ec5632095595d2ef292&id=2b46321e6a&e=d374b01049)
press release for further details of the agreement.

 

TRU is approximately 36%-owned by European strategic investor Ormonde Mining
plc (AQSE:ORM).

 

 

Enquiries:

 

Ormonde Mining plc

Brian Timmons, Chairman / Brendan McMorrow, CEO

Tel: +353 1 8014184

 

Vigo Consulting (Investor Relations)

Ben Simons / Fiona Hetherington

Tel: 44 (0)20 7390 0230

 

Peterhouse Capital (Aquis Corporate Adviser)

Tel: +44 (0)20 7469 0930

 

 

About Ormonde Mining

 

Ormonde is a natural resources company delivering exposure to outstanding gold
and battery metal exploration projects. Ormonde's portfolio comprises:

 

·    A 36.5% equity interest in TRU Precious Metals (TSXV: TRU), which is
exploring for gold and copper in the highly prospective Central Newfoundland
Gold Belt in Canada, funded by Eldorado Gold Corporation (NYSE: EGO, TSE: ELD
- US$4 billion market cap) which has optioned the project

·    A 100% interest in two gold exploration licences in the Zamora
province in western Spain, for which the Company is advancing value enhancing
options

·    An 18.9% equity interest in Peak Nickel Limited, which is exploring
for battery metals at the Rodburn Project in Aberdeenshire with indications of
a significant deposit.

 

Ormonde's shares are quoted on the Aquis Stock Exchange Growth Market under
the symbol AQSE: ORM.

 

For more information, visit the Company's website at www.ormondemining.com
(https://ormondemining.com/) .

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/ormonde-mining-plc/
(https://www.linkedin.com/company/ormonde-mining-plc/)

 

X: https://x.com/OrmondeMining (https://twitter.com/OrmondeMining)

 

Subscribe to our email alert service to be notified whenever Ormonde releases
news:

 

https://ormondemining.com/news/regulatory-news/#1469694747033-931e13b7-bd9d
(https://ormondemining.com/news/regulatory-news/#1469694747033-931e13b7-bd9d)

 

The Directors of the Company accept responsibility for the contents of this
announcement.

 

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