Toronto, Ontario–(Newsfile Corp. – May 7, 2026) – Buchans Resources Limited (the “Company” or “Buchans“), a Canadian mineral exploration and development company, announces that it has elected to adopt semi-annual financial reporting relying on Coordinated Blanket Order 51-933 – Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the “Blanket Order“).
The Company will file interim financial statements and related management’s discussion and analysis on a semi-annual basis rather than quarterly.
The first interim period for which the Company will rely on the Blanket Order is the three-month period ending March 31, 2026, for which the Company will not file interim financial statements or MD&A. The first semi-annual reporting period will be the six-month period ending June 30, 2026. The Company intends to continue filing on a semi-annual basis.
The Company believes that adopting semi-annual reporting will reduce the administrative and financial burden associated with quarterly reporting and is consistent with the objective of the Blanket Order to provide reporting flexibility for venture issuers.
ABOUT BUCHANS RESOURCES
Buchans Resources holds interests in nickel, copper, cobalt, and gold properties in Labrador; and, indirectly, through its investment in Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (FSE: DXZB), in base and precious metals projects in Newfoundland, including the Buchans base metals district, and, through its investment in Royalties Inc. (CSE: RI), base metal and silver projects in Mexico and, through its investment in Minco Exploration PLC, base metal exploration licences in Ireland.
Buchans sold its Buchans base metals district properties to Canterra in December 2023 in exchange for Canterra shares and exchangeable warrants. Most of this holding was distributed to Buchans shareholders in June 2024, though Buchans continues to hold 31,966,054 Canterra shares valued at approximately $6.4 million, and all Buchans shareholders are now shareholders in Canterra.
Enquiries
| John F. Kearney: Chairman & Chief Executive | +1 416 362 6686 |
| Tyler Hosey: V.P. Corporate | +1 416 362 9860 |
| Paul Moore: V.P. Exploration | +1 709 725-8975 |
| Peter McParland: Director – Ireland | +353 (0) 46 907 3709 |
Additional information available at www.BuchansResources.com.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements relating to, but not limited to, the Company’s expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “intend”, “estimate”, “may” and “will” or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects and timing of commencement of operations, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, delays in the development of projects changes in exchange rates, fluctuations in commodity prices, inflation and other factors. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results. Shareholders and prospective investors should be aware that these statements are subject to known and unknown risks uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Shareholders are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
