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Magellan Copper and Gold Corp. has signed a letter of intent to acquire the Ophir Creek Placer Gold Mine from Village Gold, Inc. located near Ophir, Alaska. The acquisition grants Magellan 100% ownership of the project, which includes 9 mining claims spanning approximately 620 acres.

The project is fully permitted under permit APMA #3091, allowing mining operations to begin in 2026 when the area becomes accessible. The company conducted a systematic sampling program in July 2025 and is considering exploration for a hard rock deposit near the site. Magellan views the Ophir Project as a strategic opportunity to establish gold production while advancing its other projects and potentially enhancing shareholder value.