37 Capital Inc. has entered into an agreement to acquire an undivided 100% interest in the Berrio Project in Antioquia, Colombia. Dated August 18, 2026, the twelve-month option grants the company rights to advance the gold exploration property.

The Berrio property spans about 8,746 hectares, including a granted mining concession covering 1,218.88 hectares and roughly 7,529 hectares under application. Golden Pacifico Exploration S.A.S., a wholly-owned subsidiary of Quimbaya Gold Corp., holds the registered ownership of the concession. The property is subject to a 2% net smelter returns royalty held by Anglo Gold Ashanti.

To exercise the option, 37 Capital must pay a total purchase price of US$3,750,000. This is structured through initial cash deposits, the issuance of 7,600,000 common shares at a deemed price of CDN$0.10 each upon closing, and a final cash payment. Prior to this transaction, 37 Capital’s asset portfolio consisted solely of the Extra High mineral property in British Columbia, Canada.

To fund the initial payments and advance the property, 37 Capital launched a non-brokered private placement of up to 5,000,000 units at CDN$0.10 per unit to raise gross proceeds of up to CDN$500,000. Each unit comprises one common share and one purchase warrant, with every two warrants allowing the holder to acquire an additional common share at CDN$0.15 for three years.

The transaction and private placement are conditional upon raising a minimum subscription of CDN$300,000. If this threshold is not met, the company will terminate the agreement with Quimbaya and Golden Pacifico. Quimbaya has agreed to use its reasonable best efforts to arrange subscriptions for the minimum offering.

The Berrio Project is situated within the Segovia Gold Belt and hosts both structurally controlled quartz-sulphide veins and shear-zone mineralisation. Previous work includes a 2021 helicopter-borne magnetic and radiometric survey, surface mapping, and sampling that returned gold-in-soil values of up to 1.67 g/t, alongside initial metallurgical testwork demonstrating gold recoveries exceeding 90%.

Regional activity in the district continues to advance, highlighted by approval from Colombia's Agencia Nacional de Mineria to increase production from 25 tons per day to 75 tons per day at Soma Gold Corp.'s La Aurora Mine in July 2026. 37 Capital aims to complete its private placement financing to support initial project payments and progress the Berrio property toward maiden drilling, subject to permitting and surface-access agreements.

Read the full announcement: 37 Capital Announces Option to Purchase Mineral Property in Colombia