Deal Check: "never-drilled", "district-scale" and five old holes. What this week's property deals contain

Six property deals this week, read for what the adjectives rest on.

Xigem and Condor Copper: 20% for the shell

Xigem (CSE: XIGM) signed a non-binding letter of intent on October 13 for a reverse takeover by Condor Copper, a private Wyoming company with a copper project in Coquimbo, Chile.

Xigem's shareholders would keep 20%. Condor's owners and the investors in a C$1.5 million to C$2.0 million financing, at an illustrative C$0.05 a share, would hold 80%.

The headline says "never-drilled." The body says no drilling is recorded "to the Qualified Person's knowledge based on the records reviewed," and the qualified person is not independent of Condor. The project's data is 11 selective rock chips grading 1.5% to 4.2% copper. There is no resource and no technical report. The deal includes its own success test: four holes, each with at least 20 metres averaging 0.4% copper.

Clarity Metals: 80% for 20 million units

Clarity Metals (CSE: CMET) completed the purchase of 80% of the Bobcat copper project in Lemhi County, Idaho, for 20,000,000 units at $0.05, about $1 million by our arithmetic. Each unit carries a warrant at $0.10 that runs to October 2031. Two other parties keep 10% each, carried to a prefeasibility study.

The release describes a "district-scale alteration footprint." The drilling is five holes by Cominco between 1977 and 1981. The best, BC-1, returned 100.13 metres at 0.36% copper. All of it is historical and unverified.

Burrell Resources: no resource, no drilling

Burrell (CSE: BURY) optioned the Rainmaker copper project in Nevada's Yerington district from Turner Exploration, LLC for up to 100%: $900,000 over about six years, $5 million of work and $1.5 million of milestones, up to 80% payable in shares.

The release calls it a "district-scale copper opportunity." It also says the project "does not host any mineral resource," and reports no drilling or assays. The qualified person is a Burrell director and not independent. An adviser to the company, Tom Turner, shares the optionor's name. The release does not say whether they are connected.

Myriad Uranium and Green Shift: Los Altares

Myriad Uranium (CSE: M) agreed to buy the Los Altares uranium project in Argentina from Green Shift Commodities (TSXV: GCOM) for $300,000 in cash, $700,000 in shares at $0.4455 and a 2% net smelter return royalty, half of which can be bought back for $1 million. The ground covers 55,013 hectares with no resource. About 12,500 metres of historical drilling is described as "understood" and unverified.

Tres-Or and Stonecutter: a change of control

Tres-Or (TSXV: TRS) will issue 54,545,455 shares at $0.055 for the Stonecutter diamond-gold project near Wawa, Ontario, from a Third Eye Capital vehicle. Shares outstanding would rise from 25.2 million to about 110.9 million, leaving the vendor with about half the company by our arithmetic. The exchange expects to treat it as a reverse takeover. The release gives no resource or grades.

Trinity Silver: US$7 million over five years

Trinity Silver (TSXV: TOM) optioned El Nevado in Chile's Maricunga belt for US$7 million in cash over five years, US$3 million at commercial production and a 3.1% net smelter return royalty. Most payments are optional, so Trinity can walk away. The project has 84 historical holes and no resource.

Sources: Xigem, October 14, 2026; Clarity Metals, October 14, 2026; Burrell Resources, October 7, 2026; Myriad Uranium, October 13, 2026; Green Shift Commodities, October 13, 2026; Tres-Or, October 8, 2026; Trinity Silver, October 13, 2026.