Vancouver, British Columbia–(Newsfile Corp. – May 13, 2026) – Quadro Resources Ltd. (TSXV: QRO) (FSE: G4O) (“Quadro” or the “Company”) is pleased to announce that it has entered into three binding letters of intent dated May 12 and May 13, 2026 (collectively, the “Agreements”) pursuant to which the Company has agreed to acquire a 100% interest in certain mineral claims located in Newfoundland and Labrador.
Pursuant to the Agreements, Quadro will acquire:
- 39 mineral claims comprised of License 38313 (18 claims) and License 38669 (21 claims) from John Peters (“Peters”);
- 5 mineral claims comprised of License 39365 from Benton Resources Inc. (“Benton”); and
- 9 mineral claims comprised of License 40186 from Jeffrey Mark Ralph (“Ralph”).
Collectively, the acquisitions add 53 mineral claims to Quadro’s expanding Long Lake portfolio in Newfoundland.
Terms of the Agreements
Peters Agreement
Subject to the approval of the TSX Venture Exchange (the “Exchange”), Quadro will acquire the Peters claims by:
- paying cash consideration of $25,000; and
- issuing 250,000 common shares in the capital of the Company to Peters.
Quadro has also agreed to grant Peters a 2.0% net smelter returns royalty (“NSR”) on the claims, of which the Company may repurchase 1.0% for $1,000,000.
Benton Agreement
Subject to Exchange approval, Quadro will acquire the Benton claims by:
- paying cash consideration of $10,000; and
- issuing 100,000 common shares in the capital of the Company to Benton.
Quadro has also agreed to grant Benton a 2.0% NSR on the claims, of which the Company may repurchase 1.0% for $1,000,000.
Ralph Agreement
Subject to Exchange approval, Quadro will acquire the Ralph claims by:
- paying cash consideration of $5,000; and
- issuing 50,000 common shares in the capital of the Company to Ralph.
Quadro has also agreed to grant Ralph a 2.0% net smelter returns royalty (“NSR”) on the claims, of which the Company may repurchase 1.0% for $1,000,000.
Strategic Expansion of Long Lake Portfolio
These acquisitions materially expand Quadro’s Long Lake portfolio in Newfoundland and strengthen the Company’s regional land position in an area considered prospective for gold and base metal mineralization.
“We are pleased to significantly expand Quadro’s Long Lake portfolio through the acquisition of these additional claims,” stated Barry Coughlan, CEO. “These acquisitions strengthen our regional land position in a prospective mineral belt in Newfoundland and align with our strategy of consolidating and advancing high-potential exploration assets in Atlantic Canada.”
Private Placement Financing
The Company also announces a proposed non-brokered private placement financing of up to $600,000 through the issuance of up to 12,000,000 units (the “Units”) at a price of $0.05 per Unit (the “Offering”).
Each Unit will consist of one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.10 for a period of 24 months from the date of issuance.
The proceeds of the Offering are to be used for exploration expenditures, working capital, property payments and general corporate purposes.
The Offering remains subject to Exchange approval. All securities issued pursuant to the Offering will be subject to a statutory hold period in accordance with applicable securities laws.
Qualified Person
Wayne Reid, P. Geo., VP Exploration for Quadro and a qualified person as defined in National Instrument 43-101, is responsible for this release and supervised the preparation of the information forming the basis for this release.
About Quadro Resources – Quadro Resources Ltd. is a publicly traded mineral exploration company with approximately 36 million shares outstanding, listed on the TSX Venture Exchange under the ticker symbol “QRO.” The Company focuses on gold exploration in North America. Quadro owns a 49% interest in the Staghorn property, while TRU Precious Metals Corp. holds 51%. Quadro maintains a 100% ownership in its Long Lake property. Both properties are located along the Cape Ray Fault in Newfoundland and Labrador.
On behalf of the board of directors,
Quadro Resources Ltd.
“T. Barry Coughlan”
President and CEO
Tel (604) 644-9561
info@quadroresources.com
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.” The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections. For more information on the Company, interested parties should review the Company’s filings that are available at www.sedarplus.ca.
