Record Resources Acquires Option on Quebec Copper Property

Calgary, July 17, 2024 - Record Resources Inc. (TSXV: REC) reports it has acquired an option on a copper property in Quebec.

The option is on six claims (approximately 245 hectares) known as the La Sarre Copper Property located 81 kilometres north of Rouyn-Noranda. It is owned by privately-held exploration company, 2758145 (Ontario) Inc.

Historical drilling by Chamberlin Management Corp. on the La Sarre property in 1947 encountered copper rich sulphides that "assayed up to 0.15 ounces per ton platinum, 0.06 ounces gold, 2.02 % nickel and 1.56% copper over 13.9 feet and 32.2 foot intersections". (reference: Beaufield Resources Inc., Quebec Government GM438823, February 27, 1987). The exact location of the individual drill holes were not reported by Chamberlin L. (1952)

Beaufield had sought to verify these results by undertaking a more detailed ground magnetometer and a horizontal loop EM survey in the area of drilling followed by drilling 5 holes in 1986. They were unable to intersect the high grade copper zones. In its report Beaufield admitted that "only a small portion of the La Sarre property has been tested" and recommended additional exploration work.

"They (Beaufield) basically missed," said Record Resources CEO, Michael Judson. "Their program was small. It looks like they only checked the high magnetic anomaly. Furthermore, only one drill hole tested the EM anomaly associated with a magnetic low. It is probable that that geophysical survey was not adequately tested to delineate vertical mineralization."

"La Sarre has been barely explored," said Record Resources CEO, Michael Judson. "Our geotechnical group has re-examined all reported results available for the property and region and is coming at this with a fresh approach."

"For an example, DIAGBOS Inc. (200*) (GM63727) recently compiled from the Quebec MNRF files all available geological and geophysical data in the region adjacent to the Riviere La Sarre property (4 claims) and identified 3 potential copper-gold (zinc) deposits on the claim group. The Riviere La Sud property located less than 50 km northeast of the La Sarre Copper property has very similar geological and geophysical settings as La Sarre Copper."

"While the numbers of claims is modest, there is still enough of a footprint to host four mines. What is important is that we have both location and prospectivity," said Judson. "As we always do, we will increase our portfolio of opportunities in this space through more deal-making and staking."

Terms of Agreement:
Record Resources can own 100 percent of the claims by paying $500.00 at closing on or before September 30, 2024 and by issuing 300,000 shares.The shares to be issued as part of this agreement are valued at $0.05 per share. No finders fee was paid. This transaction is expected to close on or before September 30, 2024. This arms length agreement was signed on July 13, 2024.

Qualified Person:
Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

Website: www.recordgoldcorp.com

Cautionary Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", an or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities; and the delay or failure to receive board, shareholder, court or regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The Units and the securities comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in the Unites States, or any other jurisdiction, in which such offer, solicitation or sale would be unlawful.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216736