Canadian GoldCamps Corp. has completed the acquisition of an initial 85% undivided interest in the Stealthwall West gold project in the Caniapiscau district of northeastern Québec, securing 50 contiguous mining claims covering approximately 2,612.5 hectares.

Under the transaction terms, Canadian GoldCamps issued 3,600,000 common shares at a deemed price of $0.10 per share, representing $360,000 in share consideration. The package also includes $75,000 in deferred consideration, which Canadian GoldCamps can satisfy in cash within six months of closing or through common shares on the first anniversary of closing, bringing the aggregate initial deemed consideration to $435,000. Upon closing, the project became subject to two separate 1.0% net smelter returns royalties in favour of arm's length parties, which will persist even if the company acquires full ownership.

The remaining 15% undivided interest is held by three arm's length parties, each holding 5%. Canadian GoldCamps holds a structured pathway to acquire that remaining stake for aggregate consideration of $400,000, split between $75,000 in cash and $325,000 in common shares issuable at the lowest permitted price under Canadian Securities Exchange rules. If the remaining interest is not acquired earlier, contribution rights for the residual holders will only arise after the first claim renewals and once Canadian GoldCamps incurs at least $2,000,000 in cumulative qualifying expenditures. At that stage, each residual holder can either fund 5% of future approved programs or transfer its stake to Canadian GoldCamps for conversion consideration of $200,000 in shares and $50,000 in cash.

Following the acquisition, Canadian GoldCamps is organizing a surface exploration program for the stand-alone project with an indicative planning budget of approximately $120,000. The upcoming field work will include geological reconnaissance, prospecting, outcrop mapping, structural measurements and rock sampling, with collected samples to be submitted to an independent commercial laboratory for analysis. The technical work will integrate available historical geological information indicating the presence of Archean volcano-sedimentary rocks, amphibolite, iron-rich units, sulphide-bearing horizons and quartz veining.

Canadian GoldCamps holds its flagship Mercator Gold Project in the same Caniapiscau district of northeastern Québec, comprising 574 mineral claims covering approximately 291.3 square kilometres.

Read the full announcement: Canadian GoldCamps Completes Acquisition of Initial 85% Interest in Stealthwall West Gold Project in Northeastern Québec