Felix Gold exercises option for Treasure Creek Project in Alaska

Felix Gold Deepens Alaskan Footprint with Full Acquisition of Treasure Creek Project Assets

FAIRBANKS, ALASKA – March 30, 2026 – Felix Gold, a prominent exploration company operating in Alaska, has announced a significant strategic move, confirming the full acquisition of key assets within its Treasure Creek Project. This development, which sees Felix Gold secure 100% ownership of two upland mining leases and 25 mining claims, solidifies the company’s position in the highly prospective Fairbanks Mining District and underscores its commitment to advancing both gold and critical mineral initiatives in the United States.

The Treasure Creek Project, strategically located approximately 30 kilometers north of Fairbanks, has emerged as a dual-commodity prospect, hosting a substantial Joint Ore Reserves Committee (JORC) inferred gold resource alongside a promising antimony deposit. Felix Gold’s decision to exercise its option follows a period of validating ore quality and demonstrating viable processing pathways, signaling a definitive step towards potential development.

The Strategic Acquisition Details

The exercise of this option involved the acquisition of assets from two entities, Goldstone Resources and Oro Grande Mining Claims. Committing to a total purchase price, Felix Gold has now remitted a remaining payment of $1,400,000, due within 30 days of the announcement, after deducting prior option payments totaling $850,000. This capital outlay secures the company’s long-term project tenure, removing any ambiguity regarding future access and operational control over these crucial claim blocks.

For mining companies, securing outright ownership of key tenements is a foundational step, providing the stability and confidence necessary for significant capital investment in exploration, resource definition, and eventual project development. It eliminates the complexities and potential risks associated with joint ventures or lease agreements, offering a clear path forward for strategic planning and execution.

Treasure Creek's Dual Resource Potential: Gold and Antimony

The Treasure Creek Project stands out due to its dual-commodity nature. On the gold front, the project boasts a JORC inferred gold resource of 467,000 ounces. An inferred resource, while requiring further drilling and analysis to upgrade to higher confidence categories (indicated or measured), provides a strong initial indication of significant mineralization and economic potential. For a junior explorer, establishing an initial JORC-compliant resource is a major milestone, providing a quantifiable basis for attracting investment and demonstrating project value.

Equally compelling is the project's emerging antimony deposit. Antimony, a critical mineral, is increasingly vital for various high-tech and defense applications, including flame retardants, lead-acid batteries, and alloys used in ammunition, medical applications, and semiconductors. The scarcity of secure, domestic sources for critical minerals like antimony has become a point of national strategic importance for countries like the United States.

Felix Gold’s recent confirmation that bulk sample ore from Treasure Creek exceeds the stringent US Military Concentrate Specification for direct shipping ore is particularly noteworthy. This suggests a high-grade product that could potentially bypass or simplify complex beneficiation processes, offering a competitive advantage in a market eager for secure supply chains. Furthermore, the company has successfully demonstrated ore-to-metal processing pathways through independent programs utilizing both direct smelting and hydrometallurgical methods. These validated processes de-risk the project by confirming technical feasibility for extracting both gold and antimony, a crucial step for any potential mining operation.

Adding another layer of advancement, a site selection and toll treatment assessment, undertaken by the global engineering and consulting firm Worley, is currently under review by Felix Gold. Such assessments are standard practice in the early development phases of a mining project, helping to optimize logistical and processing strategies and evaluate the economic viability of different operational approaches.

Strengthening Felix Gold’s Regional Dominance

The acquisition strategically strengthens Felix Gold’s operational footprint within the Fairbanks Mining District. With this transaction, Felix Gold officially becomes the largest landholder in the district, controlling over 388,000 acres of exploration tenements. This vast land position provides the company with unparalleled exploration upside in a historically prolific region.

The Fairbanks district holds immense historical significance, having produced over 16 million ounces of gold throughout its history. This legacy of gold production, largely from placer deposits but also from hardrock operations, attests to the region's rich geological endowment. The district continues to be a cornerstone of Alaskan gold mining, notably hosting Kinross Gold’s Fort Knox mine, a large-scale, low-cost gold operation that has been in continuous production since 1996 and is a significant regional employer. Felix Gold's expanded land package positions it within a proven, active mining jurisdiction, offering access to existing infrastructure, skilled labor, and a well-understood regulatory environment.

Another key advantage highlighted by the company is the Treasure Creek Project’s strategic location on State of Alaska land. This eliminates federal land involvement, which can significantly simplify and expedite permitting processes. Mining projects on federal lands often face more complex and protracted environmental reviews and permitting procedures due to overlapping jurisdictions and diverse agency requirements. Operating solely on state land helps to streamline the regulatory pathway, an increasingly critical factor for timely project development in the US.

With the acquisition now completed, Felix Gold secures long-term project tenure, providing the stability required for its ongoing antimony development and extensive gold exploration activities. This enables continuous investment and sustained effort in advancing both facets of the Treasure Creek Project without the impending uncertainty of option expiry.

Executive Perspectives and Future Milestones

Joseph Webb, Executive Director of Felix Gold, articulated the significance of this milestone. "We have now confirmed the ore quality, demonstrated the processing pathways, and secured outright ownership of the asset," Webb stated. "That is a significant sequence of milestones for any critical minerals project — and for Treasure Creek, it positions us to move forward with clarity and conviction."

Webb’s emphasis on the project's unique position as the "only proven source of high-grade antimony ore in the US, with ore that exceeds military-grade concentrate specifications straight out of the ground," underscores the national strategic importance of Treasure Creek. Securing 100% ownership, as Webb noted, "removes any uncertainty over our access to the project," an essential step for a commodity deemed critical for national security and economic stability.

While the outright ownership is secured, the original option agreement includes provisions for milestone payments. These payments are contingent on the future delineation of a gold mineral resource. However, there is a clear pathway for these payment obligations to lapse by October 2031 if specified conditions related to resource definition are met. This structure provides a balanced approach, tying some future obligations to successful exploration outcomes while ensuring Felix Gold now has full control over current operations and future planning.

Recent Exploration Success and What Lies Ahead

The full acquisition follows a period of encouraging exploration results. Just last month, Felix Gold announced significant drilling and trenching outcomes from the Northwest (NW) Array at Treasure Creek. These results revealed notable extensions to gold mineralization within the project area. Such findings are crucial for upgrading existing inferred resources to higher confidence categories and potentially expanding the overall resource footprint. Continued success in exploration adds value to the project and de-risks future development decisions.

Moving forward, Felix Gold's immediate next steps will likely involve continued technical studies, focusing on enhancing the geological understanding of both the gold and antimony deposits. This includes further drilling to convert inferred resources to indicated and measured categories, detailed metallurgical testing to optimize processing flows, environmental baseline studies, and comprehensive economic assessments. The company is now optimally positioned to accelerate these initiatives, leveraging its consolidated land position and the confirmed technical viability of its resources.

Antimony: A Critical Mineral Imperative for the US

The focus on antimony at Treasure Creek resonates deeply with broader US strategic objectives concerning critical minerals. The US currently imports a significant portion, if not all, of its antimony requirements, making it vulnerable to supply chain disruptions and geopolitical influences. Antimony is categorized as a critical mineral by the US Geological Survey (USGS) due to its essential use in numerous advanced technologies and defense applications, coupled with a high risk of supply interruption.

The prospect of a domestic source of "military-grade" antimony concentrate is therefore not just an economic opportunity for Felix Gold but a potential boon for US national security and industrial independence. Developing such a resource would contribute significantly to strengthening domestic supply chains, reducing reliance on potentially unreliable foreign sources, and supporting the US manufacturing sector's demand for this versatile metal.

Market and Industry Implications

This acquisition by Felix Gold has several broader implications for the mining industry. For gold exploration in Alaska, it highlights the continued potential of historic districts like Fairbanks to yield new discoveries and expand existing resources, even within well-worked areas. It also underscores the importance of strategic land consolidation by junior explorers for long-term growth.

In the critical minerals sector, Felix Gold’s progress with Treasure Creek offers a tangible example of how junior companies can contribute to diversifying the US critical mineral supply. This development could attract further investment into domestic critical mineral projects, thereby playing a vital role in national economic and security strategies. Investors will be closely watching Felix Gold's ability to translate its resource base and confirmed processing pathways into a viable mining operation, particularly given the strategic importance and high-grade nature of the antimony component.

In conclusion, Felix Gold's full acquisition of the Treasure Creek Project assets marks a pivotal moment for the company and the broader US mining landscape. By consolidating its position as the largest landholder in a historically rich gold district and securing full ownership of a dual-commodity project featuring high-grade, military-specification antimony and a significant gold resource, Felix Gold has laid robust foundations for future growth, development, and a substantial contribution to both the gold market and critical minerals supply chain security.