VANCOUVER, BC - Grafton Resources Inc. (CSE:GFT; OTCQB: GFTFF) (FSE: K8L0) announced on May 20, 2026, that it has entered into a non-binding letter of intent (LOI) with Newmont USA Limited to acquire two gold-focused exploration projects in Chile. The proposed acquisition aligns with Grafton's strategy of building a district-scale position in prospective mineral belts within the country.
Management believes the projects demonstrate attractive geological characteristics and offer potential operational and exploration synergies with nearby properties currently held by the Company. Grafton considers the broader district highly prospective and views the consolidation of strategically located concessions as a means to enhance future exploration planning and regional-scale targeting opportunities.
The parties intend to negotiate and execute a definitive agreement, subject to satisfactory tax, corporate, and securities law advice. Completion of the acquisition remains contingent on due diligence, negotiation of definitive documentation, and receipt of all necessary corporate and regulatory approvals, including approval from the Canadian Securities Exchange (CSE). The LOI does not create a binding obligation except for certain customary provisions.
Campbell Smyth, Chief Executive Officer of Grafton, commented: “We are very pleased to have reached this stage. The Proposed Acquisition aligns with Grafton’s strategy of building a strong district-scale position in prospective mineral belts within Chile. We believe the Projects may offer compelling geological and operational synergies with our existing land holdings, and we look forward to advancing discussions toward a Definitive Agreement.”
Further details will be disclosed as material developments occur, in accordance with applicable securities laws and CSE policies. Newmont is an arm's length party to the Company. The CSE has not passed upon the merits of the matters referenced herein.
About Grafton Resources: Grafton Resources is a Canadian exploration company listed on the CSE, focused on discovery and development of mineral assets in the Americas, committed to responsible exploration and shareholder value.
Forward-looking statements in this release involve risks and uncertainties, including those related to completion of the acquisition, exploration plans, and regulatory approvals. For more information, refer to the Company's filings at www.sedarplus.ca. The Company disclaims any obligation to update forward-looking statements except as required by law.
