T2 Metals signs option deal to acquire Shanghai project

Executive Summary

• T2 Metals Corp. signed an option agreement to earn a 100 % interest in the 27.4‑km² Shanghai gold‑silver project in Yukon’s Tombstone Gold Belt.
• Consideration: $500,000 cash plus three million T2 common shares payable over seven years (initial $50,000 cash and 300,000 shares upon TSX‑V acceptance).
• The agreement includes a minimum $1.8 M of exploration spend (including $100 k by 15 Nov 2026) and grants the optionor a 2 % NSR royalty (with 1 % purchasable for $1 M cash).

Key Details

• Project Location: Mayo mining district, Yukon Territory; within 10 km of multiple NI‑43‑101 resource‑stage gold projects (Eagle, Olive, Raven, Airstrip, Powerline).
• Landholding: 27.4 sq km (Class 3 permit allowing drilling, road construction, camp installation).
• Exploration Status: No prior drilling; extensive auger soil sampling (4,435 samples) shows gold up to 6.1 ppm Au, silver >100 ppm Ag, lead up to >1 % Pb.
• Geology: Hyland Group metasediments above the Robert Service thrust fault; mid‑Cretaceous Tombstone plutonic suite intrusions analogous to nearby deposits (e.g., AurMac).
• Planned Work: Additional surface sampling and geophysics now; drilling slated for 2026 after permitting.
• Option Terms:
• Total consideration: $500,000 cash + 3 M common shares (initial $50,000 cash + 300,000 shares).
• Shares subject to a four‑month hold period.
• Exploration spend requirement: $1.8 M over six years (including $100 k by 15 Nov 2026).
• Royalty: 2 % NSR retained by optionor; T2 may purchase 1 % for $1 M cash upon commercial production.
• Advisory Board: Renowned explorer Shawn Ryan joins T2 Metals’ advisory board as part of the transaction.
• Regulatory: Subject to TSX‑V approval; option exercisable over a seven‑year period, may be accelerated at T2’s discretion.

Notable Quotes

“We have worked hard to identify high‑potential gold projects to augment our existing portfolio… we are very pleased to have secured Shanghai in one of North America’s premier gold exploration districts.” – Mark Saxon, CEO, T2 Metals

“The geology and geochemistry of the Shanghai project look a lot like that from the surrounding resource‑stage gold deposits… I am happy to be advising their technical team.” – Shawn Ryan, Explorer & Advisory Board Member