Kintavar closes Roger acquisition, names Cashin as CEO

Executive Summary

• Kintavar Exploration Inc. completed the acquisition of 100 % of the Roger copper‑gold project for a purchase price of $2,137,500, issued as 42.75 million Class A common shares to each vendor (XXIX Metal and Orecap Invest) at a deemed price of C$0.025 per share.
• Peter Cashin was appointed Chief Executive Officer; Joel Friedman named Chief Financial Officer; the board was expanded to six directors with four new appointees.
• The transaction is expected to refocus Kintavar’s strategy around a VMS‑type exploration model at Roger, with in‑hole geophysical surveys planned for completion by end‑2025 and ongoing aggressive VMS exploration funded by Ore Group support.

Key Details

• Transaction Structure: Asset Purchase Agreement dated 21 Apr 2025; purchase price paid via issuance of 42.75 M Class A common shares to each vendor (total 85.5 M shares), representing ~19.97 % ownership per vendor post‑closing.
• Share Count Post‑Closing: 222,503,378 shares issued and outstanding.
• Project Scope: Roger project covers 987 ha across 28 mineral claims, historically reported (NI 43‑101) as 10.9 Mt indicated (0.85 g/t Au, 0.80 g/t Ag, 0.06 % Cu) and 6.57 Mt inferred resources; Kintavar treats these as historical only pending further work.
• Exploration Model Shift: Re‑interpretation to a polymetallic VMS system (Cu/Zn/Au/Ag) supported by historic core intersections (e.g., 7.0 % Zn, 0.36 % Cu, 10.5 g/t Ag over 6 m).
• 2025 Exploration Plan: Completion of in‑hole geophysical surveys on historical drill holes to locate conductors linked to massive sulphide bodies by end‑2025.
• Management Appointments:
• Peter Cashin – Chief Executive Officer (40+ years mining experience).
• Joel Friedman – Chief Financial Officer (15 years finance leadership in mining and cannabis sectors).
• Board Changes: New directors Stephen Stewart, Charles Beaudry, James Sykes, Ardem Keshishian added; Maxime Lemieux and Genevieve Ayotte removed. Board now totals six members.
• Financing & Partnerships: Project “well‑financed” with backing from Ore Group and strategic partners to support aggressive VMS exploration.
• Early Warning Filings: Both XXIX Metal and Orecap Invest filed NI 62‑103 early‑warning reports confirming acquisition of ~19.97 % of Kintavar shares each; both retain rights under the APA to appoint CEO/CFO and nominate two board members.

Notable Quotes

• “I am excited to be stepping into the role of CEO of Kintavar and refocus our efforts around exploring and developing the newly acquired Roger project… moving away from the existing interpretation.” – Peter Cashin, CEO