01:12 PM EDT, 03/12/2024 (MT Newswires) -- Ranchero Gold Corp. ( RNCHF ) announced Tuesday that it has closed its option agreement with Recharge Resources Ltd. whereby Ranchero can earn a 100% interest in the Pinchi Lake Nickel Project.

The Pinchi Project consists of six mineral claims totalling 3,917 hectares, situated approximately 15 to 30 km northwest of Fort St. James and 120 km northwest of Prince George in central British Columbia.

In accordance with the Option Agreement, Ranchero has issued 835,000 common shares in the capital of Ranchero to Recharge. The common shares are subject to a four-month hold period ending on July 13, 2024 in accordance with applicable securities laws.