Upon successful acquisition, Zeus and Nedeel will establish a JV for each project.
The acquisition agreement, made with Nedeel, outlines a staged payment structure over a three-year period. Zeus will provide total cash and share payments of $530,000 (C$724,462) and issue one million common shares. The transaction is subject to the execution of definitive agreements and approval from the Canadian Securities Exchange.
In addition to these payments, Zeus has agreed to issue milestone-based bonuses to Nedeel. These include payments linked to the definition of a maiden resource, completion of a bankable feasibility study, or the decision to proceed with mining. This structure is designed to align both parties’ interests and incentivize progress toward development.
The Delker property is located approximately 79 kilometers from Elko, Nevada, an area with a strong mining history and favorable conditions for exploration. It comprises 400 claims managed under the U.S. Bureau of Land Management (BLM). The site has previously attracted interest from major mining companies such as Newmont USA and Kinross Gold, and earlier surface sampling and shallow drilling have identified anomalous gold values.
The Bulls Eye property lies 17 kilometers north of Delker and includes 40 BLM claims. It is characterized by underlying geophysical anomalies suggesting the potential for a buried porphyry system, a type of mineral deposit often associated with significant metal concentrations. Both properties benefit from year-round accessibility and are not located within any environmentally protected zones.
Following the completion of the acquisition, Zeus intends to launch a detailed exploration program. This will involve compiling existing data, conducting surface mapping, geochemical sampling, and performing ground geophysics. Initial reconnaissance drilling is also planned to evaluate the mineral potential further.
As part of the agreement, Zeus and Nedeel will form a joint venture (JV) for each property. Nedeel will retain a carried interest in the projects until specific payment milestones are reached, providing it with long-term upside potential. The agreement also grants Zeus the option to purchase a portion of the net smelter returns royalty from Nedeel, offering additional flexibility in structuring future project revenues.
With this acquisition, Zeus strengthens its position in one of the most prospective gold exploration regions in North America, laying the foundation for future development and potential production.
