Announcement • Jan 09
Macdonald Mines Exploration Ltd. Announces A Drilling Program At Its Spj Project MacDonald Mines Exploration Ltd. announced a drilling program that will begin in January 2025 on MacDonald Mines 100% owned SPJ Project, near Sudbury, Ontario. The 2025 drilling program, planned in collaboration with Canuc Resources Corporation, consists of approximately 800 m of drilling that will target the lenses of gold mineralization associated with the North Pit of the Scadding Gold Deposit located on the SPJ Project. In December of 2024 Canuc and MacDonald signed a letter of intent whereby Canuc intends to acquire all of the issued and outstanding shares of MacDonald Mines. The objective of the drilling program is to confirm the historically reported tenors for the gold mineralization zones of the North Pit area of the Scadding Gold Deposit and to find extensions to the known zones of gold mineralization at depth. The mineralized zones of the North Pit are being evaluated as potential source material for the Scadding Tailings reprocessing being undertaken by Environmental Tailings Corporation. An agreement between ETC and MacDonald for the reprocessing and reclamation of the Scadding Tailings was announced on November 15, 2022. This drilling program is intended to mark a first step towards the estimation of a mineral resource for the gold zones of the North Pit of the Scadding Gold Deposit. Future exploration programs on the SPJ property will be designed to the test the potential of the McLaren Fault Zone to host significant zones of iron-rich copper-gold mineralization affiliated with iron oxide-copper-gold deposits in the Alwyn area. This follows from the encouraging results and the subsequent interpretations of the 2023 drilling program. Contingent on positive results from the drilling program, future exploration will also continue to test the zones of mineralization of the North Pit of the Scadding Gold Deposit in preparation of a mineral resource estimation. Announcement • Dec 18
MacDonald Mines Exploration Ltd. announced that it has received CAD 0.5 million in funding MacDonald Mines Exploration Ltd announced a non-brokered private placement offering to issue 10,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 500,000 on December 17, 2024. Each Unit is comprised of one Class A common share and one Class A Common Share purchase warrant with each Warrant being exercisable to acquire one Class A Common Share at a price of CAD 0.10 per share for a period of 24 months following the closing date of the Offering. In connection with the Offering, Company insiders participated by acquiring a total of 800,000 Units Shares representing 8% of the total proceeds. All securities sold or issued in connection with the Offering are subject to a hold period of four months and one day from the date of issuance thereof. The Offering is subject to the final approval of the TSX Venture Exchange. Announcement • Dec 04
Canuc Resources Corporation (TSXV:CDA) signed a letter of intent to acquire MacDonald Mines Exploration Ltd. (TSXV:BMK) for CAD 5.6 million. Canuc Resources Corporation (TSXV:CDA) signed a letter of intent to acquire MacDonald Mines Exploration Ltd. (TSXV:BMK) for CAD 5.6 million on December 3, 2024. Under the terms of the LOI, Canuc will issue 72,000,000 common shares to the shareholders of MacDonald Mines as consideration, representing approximately CAD 3,365,400 in aggregate value. The LOI is in place until April 30, 2025, unless earlier terminated in accordance with its terms. Completion of the proposed acquisition is conditional upon, among other things, formalization of the transaction by way of a definitive agreement, the receipt of all necessary shareholder and regulatory approvals by MacDonald Mines and Canuc (including the approval of the TSX Venture Exchange), and the satisfactory completion by Canuc of its due diligence investigations on the Company and its assets. 
