Visionary Metals hires Geotech for survey in Wyoming

Executive Summary

• Visionary Metals Corp. has engaged Geotech Ltd. to conduct an airborne VTEM electromagnetic survey over its 40 km² Granite Mountains land package in Wyoming, targeting nickel sulfide mineralization at Tin Cup and King Solomon projects.
• The survey is the first operational step of Visionary’s strategic exploration alliance with Teck Resources Ltd., which includes a $1.22 M equity investment by Teck and optional follow‑on funding up to $500 k, plus extensive joint‑venture option provisions for future property development.
• Results from the VTEM survey will guide drill targeting; Visionary plans to file new drill notifications at Tin Cup after data interpretation, while existing permits already exist at King Solomon.

Key Details

• Survey Contractor & Scope: Geotech Ltd. will fly VTEM lines at 100 m spacing over Tin Cup and King Solomon (high‑resolution) and 200 m spacing across the remainder of the 40 km² parcel to detect conductive sulfide zones to depths of up to 400 m.
• Project Focus:
• Tin Cup: 4.3 km × 150 m peridotite intrusion in contact with sulphidic iron formation, indicating strong nickel potential.
• King Solomon: Site of Wyoming’s first discovered nickel sulfide (2022); existing drill permits in place.
• Alliance Funding – Initial: Teck purchased 17,392,193 Visionary common shares on Aug 1 2025 at C$0.07 per share, raising C$1,217,454 (~9.9% of Visionary’s diluted equity). Proceeds earmarked for initial exploration activities.
• Alliance Funding – Optional: If Visionary conducts an additional equity raise during the alliance term (ending 31 Dec 2026), Teck may invest up to US$500,000 on terms no less favourable than other investors, potentially raising its ownership to ~19.9% (subject to TSX‑V approval).
• Exploration Expenditure Commitment: Visionary must spend an amount equal to or greater than the combined Teck investment and any government grants during the alliance period. Teck may fund extensions of three months at US$300,000 per extension.
• Option Rights for Teck: Exclusive right to earn a 70% interest in designated properties by meeting specified spend thresholds within three years:
• Diamond Springs – US$4 M total (US$0.5 M firm commitment year‑1)
• King Solomon or Tin Cup – US$6 M each (US$0.75 M firm commitment year‑1)
• New designations – US$0.5 M total (US$0.1 M firm commitment year‑1)
• If Option Not Exercised: Teck receives a 1% net smelter return royalty and rights to 50% of future concentrate production after spending 50% of required expenditures.
• Joint Venture Structure Post‑Option: Parties finance pro‑rata share of costs; interests falling below 20% convert to a 2% NSR royalty with a buy‑back right at US$4 M for a 1% stake. Majority holder operates JV.
• Governance: Technical committee composed of two representatives from each party; Teck holds tie‑breaking vote.

Notable Quotes

“The VTEM survey is a significant first step as part of our recently announced strategic exploration alliance with Teck,” said Wes Adams, CEO of Visionary Metals. “Geotech's state‑of‑the‑art data collection systems will significantly enhance our ability to detect conductive sulfide zones at depth at our flagship Tin Cup and King Solomon nickel projects and allow us to test additional regional prospects.”