(TheNewswire)
 |
|||||||||
Vancouver, BC – TheNewswire -March 9, 2026 – Northern Lights Resources Corp. (CSE: NLR) (OTC: NLRCF),(“Northern Lights& or the “Company&) is pleased to announce that Torex Gold Resources Inc. (TSX: TXG) has exercised its option to acquire a 100% interest in the Medicine Springs project (the “Project&) located in Nevada, USA.
Northern Lights will retain a 1% Net Smelter Return (“NSR&) royalty on the Project, providing exposure to potential future production with no further capital commitments. The NSR royalty includes a buydown provision, allowing Torex to reduce the royalty to 0.5% upon payment of US$2.5 million to Northern Lights.
The Project has been the subject of extensive historical exploration, including significant drilling by previous operators. This work identified the potential for silver, lead, zinc, copper, and gold mineralization hosted within multiple mineralization styles, including carbonate replacement deposit (CRD), porphyry, and skarn systems.
Luka Capin, Chief Executive Officer of Northern Lights, commented: "Medicine Springs has come a long way since the Company originally optioned the property in 2017. We are pleased to see Torex advance the project, and we believe the strength of their technical team and proven ability to develop major mining projects positions Medicine Springs for meaningful advancement. Retaining a royalty interest allows Northern Lights shareholders to benefit from the long-term potential of the project while we remain focused on advancing our core assets."
Qualified Person
Steven McMullan, P. Geo. supervised the preparation of and reviewed and approved the scientific and technical information contained in this news release. Mr McMullan is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
For Further Information
Luka Capin, Chief Executive Officer
Email: ir@northernlightsresources.com
Tel: +1 647 625 8669
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company advancing three key projects: the Horetzky Copper Project, located in the Babine Porphyry belt of central British Columbia, the Pup Copper Project in the Yukon and the 100% owned, Secret Pass Gold Project located in Arizona. Northern Lights also holds a 1% NSR royalty on the Medicine Springs Silver Project in Nevadaoptioned and operatedbyTorexGold Resources Inc.
Northern Lights Resources trades under the ticker of “NLR& on the CSE and on the OTC under the ticker “NLRCF&. This and other Northern Lights Resources news releases can be viewed at www.sedar.com andwww.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements&). Forward-looking statements include, but are not limited to, statements regarding the anticipated use of proceeds from the Offering and the Company&s future exploration activities and corporate plans. Forward-looking statements are generally identified by words such as “anticipates&, “expects&, “intends&, “plans&, “believes&, or similar expressions, or statements that certain actions, events or results “may&, “could&, “would&, or “will& occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date of this news release and are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to exploration activities, changes in market conditions, and other risks described in the Company&s public disclosure filings available on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update or revise any forward-looking statements except as required by applicable securities laws.
Copyright (c) 2026 TheNewswire - All rights reserved.
