nGRND Executes first site program agreement with First Class Metals for 386,465 ounces of Gold

nGRND Inc. signed its first Site Programme agreement with First Class Metals PLC for Ontario’s Kerrs Gold Project.

1 July 2026 – Tortola, British Virgin Islands / London, United Kingdom – nGRND Inc. (“nGRND” or the “Company”), a land management and sustainability company that supports verified gold discovery and enables its monetisation by keeping it in the ground for its partner property owners and investors, today announced the execution and closing of its first Site Programme agreement with UK-listed gold exploration and development company First Class Metals PLC, for the Kerrs Gold Project located in the Larder Lake mining district in Ontario, Canada.  

Under the terms of the minimum 30-year agreement, with renewal terms at the sole discretion of the  Company, nGRND will manage all of FCM’s rights and purchase its in-ground gold resources under its existing and any future NI 43-101 technical reports and related studies. The Kerrs Project currently hosts 386,465 ounces of inferred gold resources. FCM will retain full ownership of its mining claims and continue to maintain operational flexibility to conduct approved exploration activities designed to expand mineral resources, improve resource classifications, and support additional gold discoveries.

Under the agreement, nGRND has secured the right to acquire up to 386,465 ounces of gold resources, with an initial purchase commitment of up to 77,293 eligible ounces. The agreement includes a minimum purchase threshold of 60% of the initial allocation within one year. Based on current spot gold prices, which remain subject to market fluctuations, the current purchase price of each ounce of gold from nGRND to FCM is currently pegged at $138 per ounce, with the potential aggregate proceeds, not including any additional bonuses, totaling $10.64 million for the total initial purchase agreed at current pricing.

Upon achievement of the minimum purchase threshold, nGRND will hold a right of first refusal to purchase further gold ounces discovered and upgraded based on an agreed-upon ranking process, with FCM receiving the full benefit, including funds and any bonuses, of those purchases from any future gold resource growth or upgrades achieved through mutually approved further exploration and development.  

To further align long-term interests between the parties, First Class Metals has issued to nGRND Inc. 10 million common share purchase warrants at 5.5 pence sterling with an expiry date of 3 years from the date of issue and a further 10 million common share purchase warrants at 10 pence sterling with an expiry date of 5 years from the date of issue.

In addition to the monetization of gold resources on the property, nGRND, will engage independent specialist experts to conduct a feasibility study for alternative land-use monetization opportunities in order to establish a minimum 30-year roadmap focused on revenue-driven ESG and SDG-measured impact initiatives. These initiatives will support not only nGRND, FCM and expert providers, but also First Nations and other key parties.  

Marc J Sale, CEO of First Class Metals PLC, commented:

“The potential proceeds from this arrangement will materially strengthen the First Class Metal’s balance sheet and provide the flexibility to accelerate our exploration plans not only at Kerrs but across the portfolio. In particular, it would enable us to advance exploration at North Hemlo and Sunbeam.

The resource review of Kerrs with an aim of expanding both the resource and increasing the confidence level has been reinitiated. This will potentially allow re-ranking of existing ounces as well as possible further monetization of additional ounces identified. Progress will be reported as and when.”

James Knowles, Executive Chairman of First Class Metals PLC, commented:

“This agreement has the potential to be transformational for First Class Metals. It demonstrates how First Class Metal can unlock value from its existing NI 43-101 resource base at Kerrs, while retaining full ownership, certain control and long-term optionality across its portfolio.

Crucially, this structure allows us to recognize value today without compromising our ability to grow, upgrade and ultimately develop our assets as market conditions evolve. It also reinforces our strategy of building a diversified, capital-efficient gold organization in Ontario, capable of advancing multiple high-quality projects in parallel.”

Professor Lisa Wilson, CEO of nGRND Inc., commented:

“This is the first of what is expected to be many nGRND Site Program agreements to support the gold industry with over 184,000 tonnes of known in-ground gold resources remaining globally. Valuing and monetizing gold in its natural state and avoiding its mining enables nGRND to establish additional long-term alternative land use monetization and value improvements on these preserved sites. This innovative solution provides companies, like First Class Metals with the ability to secure funds without capital dilution.

Traditionally, gold’s value is seen as a binary choice. Extract the resources or preserve the land. Our innovation breaks this dichotomy by unlocking two distinct and concurrent value streams that result in a winning formula and economic model for all parties – including, where applicable, traditional and Indigenous landowners. nGRND’s solution creates a new paradigm to support the gold industry with environmental stewardship and derive new benefits for 30 years or more from the monetization of measured ESG, SDG and other sustainability impact initiatives.” 

Looking beyond this first agreement, nGRND is currently negotiating with a number of parties in Canada, the USA, Australia, Central and South America, and the EU to create similar Site Programs to this First Class Metals PLC Agreement for potentially millions of gold ounces that are currently stranded, abandoned, difficult to permit, and/or currently uneconomically viable for extraction. nGNRD’s vision is to become the world’s largest resource company that doesn’t mine and to support our partners with revenues that secure funds that allow them to grow without increased pressure on their capital structure whilst delivering a solution to the critical need to transition to a low-carbon and more sustainable, climate-positive economy.

For more information, please visit the official website. 

About nGRND Inc.

nGRND Inc. is a land management and sustainability company that supports verified gold discovery and enables its monetisation by keeping it in the ground for its partner property owners and investors. Alternative land use addresses the critical need to transition to a low-carbon and more sustainable climate positive economy with additional long-term monetisation opportunities through ESG and SDG measured impact initiatives. 

nGRND’s vision is to become the world’s biggest resource company that doesn’t mine.

nGRND’s Site Programme process allows verified gold mineral resources to remain in-ground providing sources of revenue that are not dilutive to the capital structure for property owners that may be facing a currently uneconomical or environmentally difficult pathway to extraction, helping to mitigate risks such as geological uncertainty, cost of extraction, and regulatory and environmental exposure, while still supporting their further exploration and prospecting abilities. 

Through its partners, nGRND also explores and implements alternative land use Carbon and ESG Programme feasibility origination engagement agreements and multiple methodology projects creating additional revenue 

For more information, visit the official website and follow us on X.