Fairchild Gold to acquire Carlin Queen project
2025-10-30 22:59 ET – News Release
Mr. Nikolas Perrault reports
FAIRCHILD COMPLETES A NEVADA TRINITY WITH THE ACQUISITION OF ADVANCED STAGE CARLIN QUEEN PROJECT
Fairchild Gold Corp. has entered into a binding purchase agreement (BPA) dated Oct. 30, 2025, with a private arm’s-length party, to acquire a 100-per-cent interest in the drill-ready Carlin Queen gold and silver property, strategically located along the Midas and Carlin gold mine trends in Nevada. The property comprises 73 unpatented lode mining claims totalling 1,508 acres.
Carlin Queen project: drill-ready, multiple target gold-silver property
Carlin Queen is an advanced-stage gold-silver exploration project situated at the intersection of the Carlin and Midas-Hollister gold trends. It lies 48 miles northwest of Elko, Nev., and about 11 miles northwest of the Goldstrike mine complex of Nevada Gold Mines LLC. More than 98 million ounces of gold have been produced through 2022 from the world-class Carlin trend (special publication MI-2022, The Nevada Mineral Industry, Nevada Bureau of Mines and Geology). It also lies adjacent to the north side of the Hollister Au-Ag (gold-silver) mine of Hecla Mining Company, a past-producing (approximately 570,000 ounces of gold plus silver) high-grade Au-Ag minethe original, premodern production ore reserve estimate by Great Basin Gold (Glanville, 2002) of which was at 1.29 ounces per ton (oz/ton) gold plus 7.00 oz/t silver.
The nearby Midas mine of Hecla had a premodern production ore estimate of three million ounces of gold at approximately one oz/t gold and approximately 12 oz/t silver (Goldstrand and Schmidt, 2000). Midas to date has produced over two million ounces of high-grade gold (plus silver), underscoring the notable fertility of this region and high gold stope grades that frequently were in excess of one oz/t gold.
The Carlin Queen project lies in a structurally domed area along the intersection of the faulted Paleozoic rocks of the Carlin trend, and felsic volcanic flows, domes and tuffaceous rocks of the Northern Nevada Rift volcanic field of Miocene age. Carlin Queen has gold-silver targets of both Carlin-type of Eocene age, and low sulphidation epithermal vein- and breccia-fill and possible disseminated types. Certain larger fault structures in the Hollister mine extend northward into Carlin Queen. Local anomalous values to 1,500 parts per million (ppm) tungsten are present at Carlin Queen and the Hollister mine, suggesting the presence of a magmatic intrusion at depth and mineralized skarn-tactite rocks that could host Gold Acres-type Carlin-style gold deposits.
In addition, a potentially significant deposit of bentonite clays is also present at the surface of the Carlin Queen property. This deposit, accessible by road, needs a more thorough evaluation of its size and grade.
Carlin Queen benefits from the past geological mapping of the entire property by the U.S. Geological Survey, and more recent mapping and geochemical sampling. Ground magnetic, gravity, CSAMT and induced polarization geophysical surveys have been conducted on the property.
Carlin Queen hosts multiple untested large gold-silver target areas and stepout opportunities, providing significant exploration upside for further gold and silver discoveries.
Transaction highlights:
- 100-per-cent ownership of the project;
- Area of interest: the parties have agreed to a two-mile area of interest around the claims;
- Consideration: three annual cash payments of $150,000 (U.S.) with discounted price to $375,000 (U.S.) available if settled before April 30, 2026;
- 2-per-cent net smelter return (NSR) royalty granted; buyback option: up to 100 per cent of the NSR for $4-million (U.S.).
Nikolas Perrault, CFA, executive chairman of Fairchild Gold Corp., commented: « With this additional 100-per-cent acquisition of the Carlin Queen project, Fairchild has in less than 18 months, established a significant Nevada-focused gold and copper portfolio. Carlin Queen combines strong exploration upside with a unique strategic positioning in a proven district location alongside world-class mines such as Hollister, Midas, and Goldstrike. »
QP (qualified person) statement
All scientific and technical information disclosed in this new release was reviewed and approved by Richard R. Redfern, MS, CPG No. 10717, who is the qualified person, as defined by National Instrument 43-101, and independent consulting geologist for Fairchild, who has examined the property multiple times and reviewed the geological information available from private and public sources related to the property, and is responsible for and has approved the technical contents of this news release.
About Fairchild Gold Corp.
Fairchild Gold is a public company engaged in the business of mineral exploration and the acquisition of copper and gold assets in mining-friendly jurisdictions across North America. The company is developing high-quality resource properties in Nevada with strong geological potential. Its strategy focuses on creating long-term shareholder value through disciplined exploration, strategic partnerships and responsible development practices. The company is also the 100-per-cent owner of the Fairchild Lake property, consisting of 108 mining claims covering an area of 2,224 hectares, located approximately 250 kilometres northwest of the city of Thunder Bay in the Patricia mining division, Ontario.