BEVERLY HILLS, Calif., March 26, 2026 /PRNewswire/ -- Buscar Company (OTC Markets Pink: CGLD) ("Buscar" or the "Company") is issuing this corrected release to provide shareholders with an accurate account of the current permitting status for its Treasure Canyon property. The Company's press release dated March 16, 2026 contained certain inaccurate characterizations of the permitting process and is superseded in its entirety by this corrected release.
EXECUTIVE SUMMARY
The Company has taken meaningful steps in the permitting process for the Treasure Canyon Mine, including: (i) engagement of a Qualified Person under SEC Regulation S-K 1300; (ii) preparation and initial submission of a Plan of Operations to the U.S. Forest Service on February 6, 2026; (iii) receipt of written feedback from the Forest Service indicating that the Plan of Operations is currently incomplete and requires revision before processing can continue; (iv) ongoing coordination with multiple regulatory agencies; and (v) near-completion of required engineering design work for certain infrastructure components. No permits have been approved to date, the Plan of Operations has not been accepted as complete by the Forest Service, and environmental review has not commenced.
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 — Current Status
Under Mr. Gallon's guidance, the Company prepared and submitted an initial Plan of Operations for the Treasure Canyon Mine to the U.S. Forest Service on February 6, 2026. By letter dated February 27, 2026, the U.S. Forest Service — Mount Hough Ranger District, Plumas National Forest — notified the Company that the submitted Plan of Operations is incomplete under 36 CFR 228, Subpart A. The Forest Service has indicated that it cannot continue processing the proposal or begin environmental review until a complete, revised Plan of Operations is submitted.
Specifically, the Forest Service has directed the Company to review comments previously provided by Forest Minerals Officer Sarah Chamberlin and incorporate all missing or clarifying information into a revised Plan of Operations. Under 36 CFR 228.4(a), a complete Plan of Operations must include a full description of operations, access, equipment, reclamation measures, engineering designs (including waste rock storage, laydown areas, and road design), and identification of all required federal, state, and county permits or waivers.
The Company is preparing a revised and complete Plan of Operations to address the Forest Service's comments. The Forest Service has stated that upon receipt of a final, complete Plan of Operations, its resource specialists will schedule a site visit to collect GPS shapefiles, verify access routes, and document existing site conditions.
Multi-Agency Permit Coordination
The Company is coordinating with the following regulatory agencies to obtain necessary permits:
- Water Rights – California State Water Resources Control Board
- Streambed Alteration / Bridge Permit – California Department of Fish & Wildlife (CDFW)
- County Permits & Land Use Approvals – Plumas County Planning Department
- Air Quality Permits – Sierra County Air Pollution Control District
- Wastewater Discharge Permit – California Regional Water Quality Control Board
- SMARA Compliance – California Department of Conservation, Division of Mine Reclamation
The Forest Service has confirmed receipt of a temporary bridge permit previously issued by CDFW; however, the Company has been advised that this permit expires in 2026, and the Forest Service has recommended that the Company seek an extension. The Company notes that placement of any bridge on National Forest System lands will require separate District Ranger authorization following Plan of Operations approval and completion of environmental review.
All other required agency applications remain pending. Required engineering design work for the access road, bridge crossing, and water retention/treatment systems is nearing completion, with final engineering drawings expected to be submitted to the relevant agencies within 14 days of this release.
Permit Timeline Expectations
No permits have been approved to date. The commencement of the Forest Service's environmental review is contingent upon submission of a complete Plan of Operations and confirmation that all required permits and waivers are being actively pursued, as required under 36 CFR 228.4 and 228.5. Based on typical timelines for similar projects in California, and subject to completion of the Plan of Operations process, the Company currently anticipates the following permit review periods once complete applications are on file:
- State Water Resources Control Board permits: 30–60 days
- CDFW Streambed Alteration Agreement: 30–60 days
- SMARA approval: 30–60 days
- Air quality permits: 30–60 days
- County land use approvals: approximately 30 days
These timelines are estimates only. 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.
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 committed to providing our shareholders with accurate and transparent information," said Alexander Dekhtyar, CEO of Buscar Company. "We regret that our March 16 press release did not fully reflect the current status of our Plan of Operations, and we are issuing this corrected release to ensure the record is clear. The Forest Service has identified deficiencies in our initial submission, and we are actively working to address those comments and submit a complete, revised Plan of Operations. We remain focused on advancing the Treasure Canyon project responsibly and in full compliance with all applicable regulatory requirements."
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 completing its Plan of Operations, obtaining regulatory permits, conducting field exploration, and the anticipated timelines for regulatory review. These statements involve substantial risks and uncertainties. Important factors that could cause actual results to differ materially include: the Company's status as an exploration stage issuer with no established mineral reserves or operating revenue; its ability to prepare a Plan of Operations satisfactory to the U.S. Forest Service; its ability to obtain required permits from multiple agencies; uncertainty regarding the timing and outcome of permit applications; the possibility that permit conditions may require significant additional capital expenditures; the Company's need for additional financing; risks inherent in mineral exploration; dependence on third-party consultants; weather and site accessibility limitations; commodity price fluctuations; environmental risks; potential regulatory changes; and risks associated with OTC Markets Pink-quoted companies. The Company does not undertake to update these forward-looking statements except as required by law.
Contact:
Aleksandr Dekhtyar
CEO,
Buscar Company
9663 Santa Monica Blvd 688
Beverly Hills, CA 90210
office@cgld.email
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SOURCE Buscar Company (CGLD)
