Vancouver, British Columbia, February 23, 2026 TheNewswire – Rockland Resources Ltd. (the “Company” or “Rockland”) (CSE: RKL,OTC:BERLF) (OTCQB: BERLF) (FSE: GB2) is pleased to provide the following update on the Company’s activities.
DRILLING PROGRAM
Rockland continues to drill at its 100% owned Cole Gold Mines project in the Red Lake Mining District, Ontario. The program is now on hole 12, the first 5 drilled holes are now in the lab and results are expected in the near future.
FINANCING CLOSE
Rockland announces that it has closed the unbrokered private placements announced on February 9, 2026.
The Company issued 1.375 million hard dollar units (the “Units”) at a price of $0.20 per unit, for total gross proceeds of $275,000. Each Unit consists of one common share (“Share”) and one transferable Stock Purchase Warrant of the Company (“Warrant”). Each Warrant entitles the Subscriber to purchase one Warrant Share at an exercise price of $0.275 per share for a period of 24 months after the Closing Date. Net proceeds from the financing will be used to advance the Corporation’s Cole Gold Mines project in Red Lake, Ontario and for general working capital purposes.
The Company further announces that it has completed the unbrokered private placement of 1,000,000 flow-through shares at a price of $0.25 per FT Share (the “FT Offering”), for aggregate gross proceeds of up to $250,000. Each flow-through unit consists of one common share of the Company issued on a flow-through basis and one-half of one common stock purchase warrant issued on a non-flow-through basis. Each whole warrant entitles its holder to acquire one common share of RKL at a price of $0.35 for a period of 24 months after the closing of the offering. The flow-through shares qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).
The FT shares entitle the holder to the tax benefits applicable to flow-through shares, in accordance with the provisions of the Income Tax Act (Canada). The proceeds from the sale of the FT units will will be used to advance the company’s Cole Gold Mines project in Red Lake.
Shares issued under the Financing are subject to a four-month hold period under the applicable securities laws of Canada.
ACQUISITION
Rockland is pleased to announce the signing of an option to acquire a 100% stake in the Twin Break project located in the Red Lake Mining District, Ontario. Twin Break is a proprietary, high-value opportunity on McKenzie Island in the Red Lake gold district, where Rockland can quickly define drill-ready targets and systematically pursue meaningful upside along a deep, gold-bearing corridor.
Real Estate Highlights
Patented land package on McKenzie Island in the Red Lake gold district, providing secure title to a proven gold-bearing environment.
Documented high-grade gold at surface, including 122.5 g/t Au over 0.5 m and a 161.1 g/t Au grab sample with exposed gold.
Boron-supported gold mineralization highlighted by intercepts including 60.3 g/t Au over 0.69 m, confirming continuity beyond surface showings.
Structural advantage at district level, with the Bishop’s Break structure would extend to a depth of 1,103 m and an identified parallel “Bishop’s Break style” system, creating multiple priority objectives for follow-up work.
CEO Mike England commented: “Corridor-scale systems such as Red Lake and Campbell have produced stacked deposits. Twin Break is centered on a deep, continuous fault with a parallel trend, supported by high-quality surface results and drilling, leaving room for repeat discoveries.”
The terms of the 100% interest agreement require the issuance of 250,000 shares upon approval and a further payment of 500,000 shares on the 12-month anniversary of the effective date. An existing NSR of 3.0% applies, with 1.5% available for purchase at any time for $1,000,000.
Rockland’s disclosures of a technical or scientific nature in this press release have been reviewed and approved by Donald Hoy, M. Sc., P. Geo., who serves as the Qualified Person under the definition of National Instrument 43-101.
About Rockland Resources Ltd.
Rockland Resources strives to unlock value through targeted mineral exploration and discovery. The company’s flagship project is the historic Cole Gold Mines project in Ontario’s fertile Red Lake district. By leveraging geological expertise, disciplined exploration and strategic project development, Rockland Resources strives to deliver meaningful growth and long-term value for its shareholders.
On behalf of the Board of Directors
Michael England, CEO and Director
For more information please contact:
Mike England
E-mail: mike@engcom.ca
NNoTHeR THe Canadian stock exchange nor iTS RegulATion AreviceS PROviDeR AccePTS regardingSponSiborTj For Theadeviacj or AccyouRAcj by THiS releASe.
Copyright (c) 2026 TheNewswire – All rights reserved.
#Rockland #Resources #Closes #Private #Placements #Acquires #Mckenzie #Island #Twin #Break #Project #Ontarios #Red #Lake #Mining #District