Orecap Completes Ownership Consolidation at McGarry Project- McGarry tenures now 100% owned by Orecap.
- McGarry was in production as recently as 2013, and has seen significant investment in its underground mining infrastructure.
- McGarry is contiguous with Gold Candle (led by Pierre Lassonde / Rick Howes) and proximal to Agnico Eagle's Upper Beaver - both multi-million-ounce gold deposits.
newsfilecorp.com
October 31, 2025 6:00 AM EDT | Source: Orecap Invest Corp.
Toronto, Ontario--(Newsfile Corp. - October 31, 2025) - Orecap Invest Corp?. (TSXV: OCI) (OTCQB: ORFDF) ("Orecap" or the "Company") is pleased to announce that it has closed its previously announced consolidation of its ownership position on certain land tenure within its McGarry Project ("McGarry" or the "Project"), located in Virginiatown, Ontario. Orecap now owns 100% of all the tenure comprising McGarry, subject to existing royalties.
McGarry is a Strategic Asset with Significant Upside and Infrastructure
McGarry encompasses 2.4km of the prolific Cadillac-Larder Lake Break ("CLLB"), and encompasses 681 hectares, comprised of 46 patented mining claims and 5 mining licenses, now 100%-owned by Orecap. McGarry hosts a historical NI 43-101 indicated resource of 447,000 grading 8.57 g/t gold (123,000 oz), and an inferred resource of 157,000 grading 5.83 g/t gold (30,000 oz)1. McGarry also hosts the historical Kerr Addison mine tailings.
McGarry was in production as recently as 2013 from significant underground workings, where it also saw underground exploration. Significant capital was spent upgrading McGarry's infrastructure, including the shaft, hoist, and onsite facilities necessary for an underground mine. Furthermore, historical underground exploration yielded high-grade results across multiple zones, including the Kerr Zone, located outside of the project's resource estimate.
Historical McGarry Kerr Formation Zone Intercepts2
Section 600W, -3500' Elevation (Hole 22-111A):
| From (ft) | To (ft) | Length (ft) | Length (m) | Gold Grade (oz/ton) | Gold Grade (g/t) | | 1,439.00 | 1,449.00 | 10.00 | 3.05 | 0.145 | 4.97 | | 1,444.00 | 1,445.90 | 1.90 | 0.58 | 0.681 | 23.35 | | 1,592.00 | 1,600.00 | 8.00 | 2.44 | 0.191 | 6.55 |
Section 400W, -4250' Elevation (Hole 22-96):
| From (ft) | To (ft) | Length (ft) | Length (m) | Gold Grade (oz/ton) | Gold Grade (g/t) | | 2,147.50 | 2,206.20 | 58.70 | 17.89 | 0.109 | 3.74 | | 2,147.50 | 2,157.10 | 9.60 | 2.93 | 0.304 | 10.42 | | 2,169.70 | 2,175.10 | 5.40 | 1.65 | 0.316 | 10.83 | | 2,197.30 | 2,206.20 | 8.90 | 2.71 | 0.182 | 6.24 |
Section 1000W, -5200' Elevation (Hole 22-107C):
| From (ft) | To (ft) | Length (ft) | Length (m) | Gold Grade (oz/ton) | Gold Grade (g/t) | | 2,687.00 | 2,697.00 | 10.00 | 3.05 | 0.224 | 7.68 |
Notes:
- Converted Length from reported ft to metres using 1 m = 3.28084 ft.
- Converted Value from reported oz/ton to g/tonne using 1 oz/ton = 34.2857 g/tonne.
McGarry Central to Regional Consolidation Strategy
McGarry is located adjacent to Gold Candle Ltd.'s Kerr Addison project ("Kerr Addison"), led by Pierre Lassonde (Chairman) and Rick Howes (CEO), and Agnico Eagle's Upper Beaver Project3. McGarry's resource and infrastructure in place underscores the Project's importance in any regional consolidation strategy. McGarry's existing infrastructure, notably the shaft which extends to 2,290 ft below surface, provides for a less expensive, accelerated timeline, to access potential underground resources.
McGarry Property Hosts Historic Kerr Addison Tailings
Kerr Addison historically produced 11 million ounces at 9 g/t gold4. Tailings from the historic Kerr Addison operation, estimated to cover 73 hectares which represent over 1Mt per vertical metre5 are situated within the McGarry property limit. While definitive tonnage and grade data has not been established, historical documentation suggest potential presence of residual gold within the tailings. In line with Ontario's simplified permitting process for recovering metals and minerals from mine waste at operating, closed, or abandoned sites, Orecap will seek to evaluate the existence and, if applicable, the quantity and potential economics of extracting minerals from the Kerr Addison tailings.
Transaction Details
Orecap acquired the remaining 25% of certain McGarry tenure to consolidate it's 100% ownership of McGarry for $50,000 payable in cash, and $50,000 in Orecap shares, totaling 620,498 shares, calculated using the preceding 10 trading day volume weighted average price ("VWAP") of Orecap shares ($0.08058/sh) as of the date of the agreement.
QP Statement
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director of Orecap Invest Corp., a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
Disclosure Regarding Historical Resources
As at the date of this news release, a qualified person has not completed sufficient work to classify the McGarry historical mineral resources estimate as current mineral resources or mineral reserves in accordance with NI 43-101 and Orecap is not treating the historical estimate above as current mineral resources.
?About Orecap Invest Corp?.
Orecap seeks special situation investments in the natural resource sector that offer shareholders diverse exposure to high returns on precious and critical metal assets and businesses. Orecap has significant equity positions in portfolio companies, such as American Eagle Gold (TSXV: AE) (OTCQB: AMEGF), XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF), Mistango (CSE: MIS), and Awale Resources (TSXV: ARIC), in addition to owning a broad portfolio of land packages focussed on gold, copper and zinc. Agnico Eagle Mines Limited is a 9.9% shareholder.
Orecap's Equity Holdings include:
| Company (Ticker) | Shares Owned1 / (% of Outstanding Shares) | | American Eagle Gold (TSXV: AE) (OTCQB: AMEGF) | 10,718,748 / (6.3%) | | Awale Resources (TSXV: ARIC) | 7,389,833 + 4,166,666 warrants / (7.2%) | | Mistango River Resources (CSE: MIS) | 24,708,975 / (13.9%) | | Metal Energy (TSXV: MERG) | 5,125,000 + 2,562,500 warrants / (3.6%) | | Kintavar Exploration (TSXV: KTR) | 42,750,000 (19.9%) | | XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) | ?23,637,431 ?/ (7.7%) |
1 See Orecap's latest disclosure documents for details regarding holdings.
For further information, please contact:
Stephen Stewart, Chief Executive Officer
Phone: 416.644.1567
Email: info@oregroup.ca
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" "target" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including evaluating the potential existence, quantity and economics of extracting minerals from the Kerr Addison tailings. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's management's discussion and analysis for the fiscal year ended October 31, 2024, which is available on SEDAR+ at www.sedarplus.ca; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
1 Source: Preliminary Economic Assessment and Mineral Resource Estimate, McGarry Project, McGarry Township (Virginiatown), Ontario, 2011. Prepared by Python Mining Consultants. See disclaimer regarding historical resources.
2 Source: Report on the Armistice Resources Ltd. Virginiatown Gold Project, McGarry Township, Ontario, 2004. Prepared by S.J. Carmichael Consultants.
3 Cautionary Statement: The Company cautions that the mineral resources on the adjacent Kerr Addison and Upper Beaver properties are not necessarily indicative of mineralization on the McGarry property.
4 Refer to Gold Candle's Corporate Presentation dated September 2025 on goldcandle.com.
Cautionary Statement: Historical production at Kerr Addison is not indicative of the mineralization at McGarry.
5 Assumed density 1.55 grams per cubic centimetre.
 SOURCE: Orecap Invest Corp. |
