Mr. Mike Bandrowski reports

BIG RIDGE GOLD CORP. ENTERS INTO DESTINY OPTION AGREEMENT

Big Ridge Gold Corp. has entered into a binding option agreement with Caprock Mining Corp. for the option of its 100-per-cent-owned Destiny gold property, located in Despinassy Township, 75 kilometres northeast of Val d'Or, Que.

Terms of the option agreement

Under the terms of the option agreement, Caprock must make the following cash payments and share issuances to Big Ridge and exploration expenditures to earn a 100-per-cent interest in the Destiny gold property:

• Issue eight million common shares in the capital of Caprock on the closing date, which must occur no later than April 2, 2025;
• Pay $100,000 in cash and issue $250,000 in shares on or before the first anniversary of the closing date;
• Pay $250,000 in cash and issue $350,000 in shares on or before the second anniversary of the closing date;
• Pay $400,000 in cash and issue $700,000 in shares on or before the third anniversary of the closing date;
• Make exploration expenditures totalling $200,000, $750,000 and $1-million in the first, second and third years of the option agreement, respectively.

Upon Caprock's satisfaction of the exploration expenditure and share-based payment obligations described above, it will assume Big Ridge's existing 100-per-cent interest in the Destiny gold property. Big Ridge will retain a 1-per-cent net smelter return royalty on the property, subject to a $1.0-million buyback right in favour of Caprock.

Mike Bandrowski, president and chief executive officer of Big Ridge, commented: "We are excited to work with the Caprock Mining team as they advance the Destiny gold project and unlock value for shareholders. We believe the project has significant exploration potential and look forward to Caprock's initial exploration program."

About Big Ridge Gold Corp.

Big Ridge is an exploration and development company managed by a disciplined and experienced team of officers and directors. The company is committed to the development of advanced-stage mining projects using industry best practices combined with strong social licence from its local communities. Big Ridge owns an 80-per-cent interest in its flagship Hope Brook gold project, located in Newfoundland and Labrador. Big Ridge also owns 100 per cent in the highly prospective Oxford gold project located in Manitoba and the Destiny gold project in Quebec.

Acknowledgment

Big Ridge acknowledges and appreciates the Newfoundland and Labrador Ministry of Natural Resources' financial support of the company's 2023 exploration programs through the junior exploration assistance program.

We seek Safe Harbor.