Latest Update:

Eldorado Gold Corporation (“Eldorado”) is  actively assessing the project data to implement a decision related to its future involvement at the Bruell gold project, east of Val d’Or, Quebec, which is subject to an agreement, extending Eldorado’s option decision date to April 19th, 2024.

Under the original Option Agreement Eldorado had a 60-business day period from December 9(th), 2023, to decide if it wished to acquire a 75% interest in the Bruell Claims and set up a 75% Eldorado and 25% Sparton Joint Venture for further development of the project. Eldorado also had a further option (if it exercised the original option to set up the joint venture), to acquire all of the Sparton 25% interest for a combination of a cash payment and a residual royalty. Please see Sparton News Release dated December 16(th), 2019, for details.

HISTORY OF BRUELL PROJECT

About the Bruell Property
The Bruell claims are accessible from Val d’Or and Senneterre by paved Highways 117 and 113, and local forestry roads and logging trails. The property contains a number of structurally hosted vein type gold occurrences and two (2) shallow, vertical shafts, including the Bruell 1, Bruell 2, and one inclined shaft, the Avocalon (Aurora zone). Exploration work dates back to 1934, with the last significant work done in 2005 (C2C Inc.).The claims are underlain by dominantly mafic volcanic rocks with a central granodiorite porphyry intrusion (the Bruell Pluton) that has not been explored. Several of the better grade gold zones are associated with magnetic diorite intrusions (Aurora) and quartz feldspar porphyry dykes and sills related to the Bruell Pluton (Bruell 1,2). A comprehensive ground magnetic survey has not been completed on the claim group. Limited magnetic surveys covering the principal gold zones near the shafts have indicated well defined magnetic anomalies related to the rock types hosting the mineralized structures.