On June 19, 2024, Ranchero Gold Corp. (“Ranchero Gold”) completed the sale (the “Sale”) of four mineral licenses of the Santa Daniela mineral property (the “Property”), located in Sonora, Mexico, to Minas de Oro Nacional, S.A. de C.V. (“Minas de Oro”), a wholly-owned subsidiary of Alamos Gold Inc. (a TSX-listed issuer), pursuant to the terms of an assignment of rights agreement dated January 15, 2024 between Ranchero Gold’s subsidiary Minera y Metalurgia Paika, S.A. de C.V. and Minas de Oro. In consideration for the Sale, Ranchero Gold received a cash payment of US$2,550,000 and may receive an additional cash payment of US$2,500,000 in the event that Minas de Oro declares a mineral reserve of greater than 500,000 ounces of gold within the Property.

The Sale constituted a sale of all or substantially all of Ranchero Gold’s undertakings under section 301(1) of the Business Corporations Act (British Columbia), as the Property constituted a majority of the assets of Ranchero Gold. The Sale was approved by a special resolution of Ranchero Gold’s shareholders at a meeting held on February 22, 2024.

Ranchero Gold is a mineral exploration company that holds an option to acquire a 100% interest in the Pinchi Lake mineral property located in British Columbia.

Further details regarding Ranchero Gold and the Sale can be found on Ranchero Gold’s website. Ranchero Gold trades under the symbol “RNCH” on the TSX Venture Exchange.