Gold Strike's $34M Deal Redraws Yukon's Tombstone Gold Belt Map

VANCOUVER, BC – March 03, 2026 – Gold Strike Resources Corp. (TSX-V: GSR) has announced a bold, transformational move to acquire a massive portfolio of gold projects in the Yukon's highly coveted Tombstone Gold Belt, backed by a C$15 million financing. The complex C$34 million deal with LIRECA Resources Inc. consolidates a vast land package, immediately elevating Gold Strike from a junior explorer to a significant resource holder in one of North America's most active gold exploration districts.

In a move that reshapes the region's competitive landscape, Gold Strike will acquire the Florin, FLR, and RJ gold projects, spanning approximately 320 square kilometers. The centerpiece of the acquisition is the Florin Gold Project, which hosts an existing NI 43-101 compliant inferred resource of 2.507 million ounces of gold. The deal, coupled with a bought-deal financing led by ATB Capital Markets and Canaccord Genuity, signals a major strategic pivot for the Vancouver-based company.

A New Powerhouse in the Tombstone Belt

This acquisition strategically positions Gold Strike as a dominant landholder in the Tombstone Gold Belt, a geological region renowned for hosting large-scale Intrusion-Related Gold Systems (IRGS). The newly acquired properties are contiguous and sit directly adjacent to major projects owned by regional heavyweights Sitka Gold Corp. and Snowline Gold Corp., creating a consolidated block of claims in a district that has seen a flurry of recent discovery and investment.

Gold Strike's expanded footprint now surrounds significant portions of Snowline Gold’s massive Valley deposit, which is advancing as a potentially world-class gold project. This strategic positioning is not just about geological similarity; it creates a practical reality where Gold Strike controls key ground that could be essential for the future development and infrastructure of neighboring projects. This land package, deliberately assembled by the seller LIRECA Group over more than a decade, gives Gold Strike a strategic advantage that goes beyond just mineral rights.

The company’s land position is now one of the largest and most coherent in the belt, focusing on underexplored zones that lie along strike from or adjacent to known multi-million-ounce discoveries. This strategy aims to leverage the vast trove of historical data—valued at approximately $40 million—included in the purchase to unlock the potential of a district that continues to deliver significant gold finds.

From Explorer to Developer

The acquisition marks a fundamental shift in Gold Strike's corporate identity. The deal's lynchpin, the Florin deposit's 2.507 million-ounce inferred resource, instantly provides the company with a substantial asset base, a critical milestone that separates it from hundreds of pure exploration companies.

"We are pleased to have entered into this transformational transaction, which marks a defining moment for GSR," commented Peter Miles, CEO of Gold Strike. "The Florin Gold Project hosts a defined 2.507 million ounce gold inferred resource, and this acquisition will advance the company to the next stage, evolving from a pure exploration company into one with a meaningful resource base to build upon."

Beyond the established resource, the exploration upside appears immense. The technical report for the Florin deposit indicates the mineralization remains open for expansion in all directions and at depth. With approximately 80% of the five-kilometer prospective geological trend yet to be drill-tested, the potential for resource growth is substantial. Geochemical soil anomalies and high-grade rock samples, including one returning over 15 g/t gold, have been identified well outside the current resource area, pointing towards priority targets for future drill programs. The project also benefits from being situated on a road-accessible ridge, a significant logistical and cost advantage in the rugged Yukon terrain.

The Fine Print: A Complex Related-Party Deal

The transaction's structure is as strategic as its geography. The C$34 million purchase price consists of C$10 million in cash—paid in installments over two years—and 43,636,363 Gold Strike shares valued at C$0.55 each. To fund the cash portion and an aggressive exploration program, the company has secured a C$15 million bought-deal private placement of subscription receipts, also priced at C$0.55.

Critically, the transaction is with a "related party." The seller, LIRECA Group, and its principal, John Fiorino, are considered related parties under Canadian securities regulations, a fact stemming from previous deals between the two entities. This necessitates a higher level of scrutiny and requires approval from a majority of the company's minority shareholders, in addition to standard regulatory approval from the TSX Venture Exchange.

By accepting the majority of the payment in escrowed Gold Strike shares, the LIRECA Group maintains significant skin in the game. "By accepting the majority of the consideration for this transaction in escrowed equity of GSR, the LIRECA Group continues to demonstrate its confidence in the projects and its alignment with long-term shareholders," stated John Fiorino, principal of the LIRECA Group.

A Web of Royalties and Future Commitments

Further tying the two parties together is a complex web of royalty agreements. Gold Strike will grant the LIRECA Group a 3% net smelter returns (NSR) royalty on the majority of the new claims, with a 1% NSR on a smaller, previously encumbered portion. While Gold Strike has options to buy down portions of these royalties for millions of dollars or the equivalent in gold, a baseline royalty will remain.

Furthermore, the agreement includes significant future payments. Gold Strike must make annual advance royalty payments until production begins. More impactful is a bonus payment clause: for every one million ounces of gold delineated in future resource estimates on the properties, Gold Strike must pay the LIRECA Group the greater of US$1 million or 250 ounces of gold. This uncapped bonus structure creates a powerful incentive for the LIRECA Group to see the project succeed but also represents a significant future financial commitment for Gold Strike shareholders.

The deal also restricts Gold Strike from selling or transferring any interest in the projects for five years without LIRECA's consent. With the transaction expected to close in the second quarter of 2026 pending shareholder and regulatory approvals, Gold Strike is poised to begin a new chapter, betting its future on becoming a key developer in Canada's modern-day gold rush.