Magellan Copper & Gold Corp.

The Company, formed on September 28, 2010, under Nevada law, operates as an exploration stage company focused on acquiring and exploring mineral projects. Currently, its primary focus is on properties located in Idaho and California, though it may acquire additional mineral projects outside these states. The Company has not yet determined if its controlled mineral properties contain economically recoverable mineral deposits. Its head office is at 602 Cedar Street, Suite 205, Wallace, Idaho 83873. On June 6, 2023, the Company entered a memorandum of understanding (MOU) to secure an earn-in agreement with Gold Express Mines, Inc. (GEM). Under this MOU, the Company agreed to earn up to a 50% working interest in the Kris Project, which consists of 7 unpatented mining claims in Plumas County, CA. In March 2023, the Company paid Gold Express Mines, Inc. $100,000 as a deposit. It is committed to spending $400,000 on the Kris Project in allowable expenditures over the next thirty-six months, contingent on obtaining necessary permits. If permitting delays occur, the earn-in period will be extended. Allowable expenditures include sampling, drilling, assaying, geologic mapping, mine site improvements, consulting fees directly benefiting the project, claim maintenance fees, and approved future land acquisitions benefiting the Kris Project. The Company will also pay the Bureau of Land Management claim maintenance fees for the Kris Project claims by August 15th each year during the earn-in period.