Vancouver, British Columbia, January 12, 2026 – ProAm Explorations Corporation (“ProAm” or “the Corporation”) (TSX.V:PMX) is pleased to announce that it has acquired the right to enter into an option agreement to acquire a 100% interest in the Golden Ridge Gold Project (the “Project”), located in western New Brunswick, Canada.
Highlights
Jason Cubitt, CEO of ProAm, commented: “Golden Ridge represents a transformational opportunity for ProAm, delivering a substantial near-surface gold resource with clear potential for expansion. Our executive team will focus on advancing the project immediately with news to follow. It is also noteworthy that the current resource estimate was completed at a gold price of approximately US$1,500 per ounce, compared to gold prices exceeding US$4,400 per ounce today, which provides a supportive macroeconomic backdrop as we evaluate the project’s future development potential.”
Project Overview and Historical Work
The Golden Ridge Gold Project is an advanced exploration-stage property with a substantial body of historical work, including surface geochemistry, geophysics, trenching, and 16,001 metres of diamond drilling completed by previous operators between 1999 and 2012. This work has outlined a broad zone of gold mineralization associated with quartz–carbonate veining, stockwork development, brecciation, and disseminated sulfides.
Resource Estimate (Inferred)
A 2013 mineral resource estimate was prepared by Mercator Geological Services Ltd. in compliance with NI 43-101 reporting requirements and CIM standards, based on 3D block model using 16,001m of drilling from 85 drill holes. This report produced an inferred mineral resource of 520,200 ounces of gold, contained within 17.78 million tonnes grading 0.91 g/t Au at a cut-off grade of 0.35 g/t Au. See Table 1 below.
Table 1 – NI 43-101 Historic Inferred Resource Estimate
Cut-off Tonnes Au g/t Grams Ounces
0.30 18,760,000 0.88 16,508,800 530,800
0.35 17,780,000 0.91 16,179,800 520,200
0.50 14,080,000 1.04 14,643,200 470,800
0.75 9,140,000 1.27 11,607,800 373,200
Note: 0.35 g/t Au cut-off highlighted as representative of open-pit potential based on a then 3-year trailing gold price of US$1,494/oz.
Historical Drilling
In 2010-2011 Portage Minerals Inc. drilled a total of 13,685.50 m in 68 drill holes. Portage’s drilling strategy was focused on evaluation of the property’s potential to host a large tonnage Au deposit that could be amenable to development as an open-pit mining operation. Selected historical drill intercepts are summarized in Table 2 below. These intercepts are representative of the broader mineralized system and highlight grade continuity. Results demonstrate that gold mineralization occurs over significant intervals, from near surface to depths exceeding 200 metres downhole, and is not restricted to a single horizon or narrow vein set.
Table 2 – Selected Historical Drill Intercepts
Drill Hole From (m) To (m) Interval (m) Au (g/t)
GR-10-22 112.0 137.0 25.0 1.21
GR-10-28 73.0 97.0 24.0 1.20
GR-10-31 196.3 225.0 28.7 1.27
GR-10-37 70.0 144.0 74.0 0.82
GR-10-41 11.0 30.0 19.0 1.16
GR-10-53 7.0 20.0 13.0 1.36
GR-10-55 55.0 80.0 25.0 2.76
GR-10-57 125.0 143.0 18.0 1.73
GR-10-58 39.0 87.0 48.0 0.83
GR-11-62 94.45 174.64 80.19 0.79
GR-11-64 61.80 73.00 11.20 1.48
GR-11-69 21.90 49.50 27.60 0.71
GR-11-70 29.25 45.25 16.00 2.31
GR-11-73 32.95 41.00 8.05 1.44
and 85.80 154.50 68.70 0.96
Intervals are reported as drilled lengths; true widths are not known at this time. Results are historical in nature and have not been verified by ProAm.
Terms of Option Agreement
Cash Payments
The Purchaser shall pay the Vendors CAD $1,440,000, as follows:
Work Commitment
The Buyer shall incur CAD $250,000 in Project Expenditures, consisting of:
Royalty Reservation
The Vendors shall retain a 2% Net Smelter Return (NSR) royalty, of which:
The Company expects to execute a Definitive Option Agreement no later than January 15, 2026 pursuant to an arm’s-length agreement with a private vendor.
Completion of the acquisition is subject to the satisfaction of customary conditions, including approval of the TSX Venture Exchange.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Fred Tejada, P.Geo., a Qualified Person as defined under National Instrument 43-101.
Technical information contained in this news release was taken from the Technical Report for the Golden Ridge Property dated April 2, 2013 prepared by Andrew Hilchey P. Geo. of Mercator Geological Services Ltd.
About ProAm Explorations Corporation
ProAm Explorations Corporation is a mineral exploration company focused on the acquisition and advancement of high-quality gold projects in stable jurisdictions.
On behalf of the Board of Directors of
ProAm Explorations Corporation
Jason Cubitt
Chief Executive Officer
Email: info@pmx-corp.com
Tel: 604-209-1658
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.