ExGen Resources Inc. has amended and exercised its option to acquire a 100% interest in the MacRex property in British Columbia's Alberni Mining District, securing full ownership while eliminating future cash and exploration obligations.

To complete the option exercise, ExGen made a $200,000 cash payment on August 14, 2026, satisfying all remaining cash obligations and exploration expenditures under the original agreement. According to Chief Executive Officer Jason Riley, the amendment saves the company $350,000 in cash payments and the entire $1,500,000 in expenditures previously required over the life of the option.

“With this last round of the financing we now have the treasury flexibility to strategically unlock the value of our properties. We are further pleased to have negotiated this amended exercise for MacRex. This amendment saves ExGen $350,000 in cash payments and the entire $1,500,000 in expenditures that were previously required over the life of the option.”

— Jason Riley, Chief Executive Officer

The MacRex property is located approximately 20 kilometres from Port Alberni and has been subject to historical exploration dating back to the 1980s. The claims feature copper, gold and silver showings and surround the Mactush property, which was optioned in 2024.

Concurrently, ExGen has received TSX Venture Exchange approval for an upsized and extended private placement to raise gross proceeds of $1,081,000 through the issuance of up to 10,081,000 units at a price of $0.10 per unit. The company intends to complete the second tranche of the offering on or around August 21, 2026. ExGen operates as a project accelerator, funding exploration through joint ventures and partnerships across its portfolio of eight exploration projects in Canada and the US, four Golden Triangle NSR royalties, and a silver stream on the Andacollo gold mine in Chile.

Read the full announcement: ExGen Announces TSXV Approval of Extension and Upsize of Private Placement and Provides Corporate Update