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Quadro Amends Option Agreement With TRU Precious Metals Corp.
Vancouver, B.C., April 25, 2023. Quadro Resources Ltd. (“Quadro” or the “Company”) (TSXV: QRO, OTC Pink: QDROD, FRA: G4O2) is pleased to announce that further to its August 18, 2022, news release, it has amended its Staghorn Option Agreement with TRU Precious Metals Corp. (“TRU”).
The amended terms include:
- Drilling commitments totaling $300,000 for year 1 and year 2 of the Option Agreement are now to be incurred no later than October 15, 2023.
Quadro is pleased that ongoing cooperation between TRU and Quadro’s technical staff was successful in delineating additional parallel gold bearing trends within the Mark’s Pond zone and the Company looks forward to drilling at Staghorn.
Pursuant to the terms of the option agreement, TRU has the option to acquire up to an aggregate 65% ownership in Quadro’s Staghorn project located in central Newfoundland. The Staghorn project is a large claim package of 133 claim units in eight mineral licenses covering 3,325 hectares with a 12 km strike length of the auriferous Cape Ray Fault Zone.
About Quadro Resources – Quadro is a publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold in North America. The Company’s shares trade on the TSX Venture Exchange under the symbol “QRO”. Quadro owns a 100% interest in the Staghorn property which it has optioned to TRU Precious Metals Corp., owns a 100% interest in the Long Lake property, has an option to earn a 100% interest in the Yellow Fox/Careless Cove properties, and has an option to earn an initial 51% interest in the Tulks South Property, in Newfoundland.
On behalf of the board of directors,
Quadro Resources Ltd.
“T. Barry Coughlan”
President and CEO
Tel (604) 644-9561
info@quadroresources.com
"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 release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.” For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.