Buscar Company Advances Key Permitting Milestones for Treasure Canyon Mine
Buscar Company Advances Key Permitting Milestones for Treasure Canyon Mine |
| [16-March-2026] |
BEVERLY HILLS, Calif., March 16, 2026 /PRNewswire/ -- Buscar Company (OTC Markets Pink: CGLD) ("Buscar" or the "Company") today announced significant progress in the permitting process for its Treasure Canyon property, marking important steps forward in advancing the project toward field exploration.
EXECUTIVE SUMMARY The Company has made substantial progress on its permitting pathway, including: (i) engagement of a Qualified Person under SEC Regulation S-K 1300; (ii) preparation and submission of a comprehensive Plan of Operations to the U.S. Forest Service; (iii) incorporation of agency feedback and submission of revised plans; (iv) initiation of the multi-agency permit coordination process; and (v) near-completion of required engineering design work for infrastructure components. While no permits have been approved to date, the Company has established contact with all relevant regulatory agencies and submitted required application materials. QUALIFIED PERSON The Company has engaged Martin L. Gallon of Lumwana LLC as its Qualified Person under SEC Regulation S-K 1300. Mr. Gallon is a certified professional geologist holding a BSc Honours in Geology from London University with over 55 years of experience in the mining industry, including exploration, feasibility studies, mine development, and operations management. His qualifications include extensive experience with NI 43-101 technical reports and SEC Regulation S-K 1300 compliance, bringing critical expertise to the Company's technical assessments and regulatory submissions. PERMITTING STATUS UPDATE Plan of Operations Progress Under Mr. Gallon's guidance, the Company has prepared a comprehensive Plan of Operations for the Treasure Canyon Mine. The Plan of Operations is a detailed document required by the U.S. Forest Service that outlines proposed mining activities, environmental protections, reclamation plans, and operational procedures. This plan serves as the foundational document for the overall permitting process and demonstrates the Company's commitment to responsible resource development. The initial plan was submitted to the U.S. Forest Service in early February 2026. The Forest Service provided detailed feedback, which the Company addressed through plan revisions incorporated by mid-February 2026. Final approval of the Plan of Operations is contingent upon the acquisition of all required permits from relevant state and county regulatory agencies, which is standard procedure for projects of this nature. Multi-Agency Permit Coordination The Company is coordinating with the following regulatory agencies to obtain necessary permits:
All agencies have been contacted via phone and email. Required application forms have been completed and submitted. Engineering design work for the access road, bridge crossing, and water retention/treatment systems mandated by the State Waterboard is nearing completion. Final engineering drawings are expected to be submitted for agency within the next 14 days. Permit Timeline Expectations No permits have been approved to date. Based on typical timelines for similar projects in California, the Company anticipates:
The Plan of Operations permit granted by the US Forest Service depends on receiving approval for the other permits. The US Forest Service has provided assistance and guidance with the permitting process. However, the permitting process involves multiple regulatory agencies with independent review timelines and discretionary authority. There can be no assurance regarding the timing of permit approvals, the conditions that may be imposed, or whether all required permits will be obtained. Permit denials, delays, or conditions could materially impact the Company's ability to proceed with planned activities or could require significant additional capital expenditures beyond current estimates. On-site fieldwork is anticipated to commence only after all necessary permits are obtained and is subject to favorable weather conditions and site accessibility. MANAGEMENT COMMENTARY "We are pleased with the progress our team has made in advancing the Treasure Canyon permitting process," said Alexander Dekhtyar, CEO of Buscar Company. "The engagement of Martin Gallon as our Qualified Person brings decades of mining industry expertise to our project, and his guidance has been invaluable in preparing our submissions to meet both Forest Service requirements and SEC standards. While we recognize that the multi-agency permitting process is complex and timeline certainty is limited, we believe we have taken the necessary steps to position the project for regulatory review. We remain committed to responsible development practices and look forward to updating shareholders as we reach additional milestones." EXPLORATION STAGE PROPERTY - NO MINERAL RESERVES The Treasure Canyon property is an exploration-stage property with no mineral reserves. There is no assurance that further exploration will result in the determination of economically viable mineral reserves. The Company has no producing properties, no revenue from operations, and is entirely dependent on external financing to fund its activities. About Buscar Company Buscar Company (OTC Markets Pink: CGLD) is a mineral exploration company focused on gold and precious metals opportunities. Through its wholly owned subsidiary Eon Discovery Inc., the Company maintains mining claims on the Treasure Canyon property in Plumas County, California. The Company is an exploration stage issuer with no mineral reserves and no current revenue from operations. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans for technical assessment, permitting, field work, and financing for the Treasure Canyon property, as well as anticipated timelines for permit reviews and approvals. These forward-looking statements involve substantial risks and uncertainties. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: (i) the Company's status as an exploration stage issuer with no established mineral reserves and no operating history or revenue; (ii) the Company's ability to obtain required regulatory permits and approvals from multiple agencies, including the U.S. Forest Service, California State Water Resources Control Board, California Regional Water Quality Control Board, California Department of Fish & Wildlife, Plumas County, and California Department of Conservation; (iii) uncertainty regarding the timing, conditions, and ultimate approval or denial of permit applications; (iv) the possibility that permit conditions may require significant additional capital expenditures or may render planned activities economically unfeasible; (v) the Company's need for substantial additional capital to fund exploration activities, with no assurance that such financing will be available on acceptable terms or at all; (vi) risks inherent in mineral exploration, including the possibility that further work will not result in the establishment of mineral reserves; (vii) uncertainty regarding the results of technical assessments and feasibility studies; (viii) dependence on third-party consultants and qualified persons; (ix) weather conditions, site accessibility, and seasonal limitations on field work; (x) commodity price fluctuations; (xi) environmental risks and the potential for unforeseen remediation costs; (xii) potential changes in regulatory requirements or enforcement priorities; (xiii) competition for qualified personnel, equipment, and services; (xiv) potential legal challenges or disputes related to mining claims or permits; (xv) the Company's lack of diversification, with all activities focused on a single exploration property; and (xvi) risks associated with companies quoted on the OTC Markets Pink marketplace, including limited liquidity, minimal regulatory oversight, and limited publicly available information. Investors should carefully consider these risks before making any investment decision. The Company does not undertake to update these forward-looking statements except as required by law. Contact:
SOURCE Buscar Company (CGLD) | ||
Company Codes: OTC:CGLD,OTC-BB:CGLD,OTC-PINK:CGLD |
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