Aldebaran plans spinout of some Argentine projects

Executive Summary

• Aldebaran Resources Inc. intends to spin out its northern Argentina exploration portfolio into a newly formed Canadian subsidiary (“SpinCo”), retaining the Altar copper‑gold project under Aldebaran.
• Sam Leung has been appointed CEO and director of SpinCo; he brings extensive senior mining executive experience.
• The spin‑out includes detailed resource highlights for the Rio Grande and Aguas Calientes projects, with plans for private financing, a 2025/26 field program, and an eventual public listing of SpinCo.

Key Details

• Spin‑out Structure: Transfer of Salta, Jujuy and Catamarca province projects to newly incorporated Canadian subsidiary (SpinCo). Aldebaran will keep the Altar project.
• Leadership: Sam Leung appointed CEO & director of SpinCo; background includes Adventus Mining (sale 2024), Lundin Mining, Hatch Ltd., and board service at Abrasilver Resource Corp.
• Rio Grande Project Highlights:
• M&I: 71.0 Mt @ 0.30 % Cu, 0.36 g/t Au, 3.2 g/t Ag.
• Oxide: 46.4 Mt @ 0.27 % Cu, 0.33 g/t Au, 2.5 g/t Ag.
• Transition & Inferred resources detailed with tonnage and grades.
• Best historic intercept: 257.20 m @ 0.53 % Cu, 1.20 g/t Au (porphyry dikes).
• Drill permits expected H1‑2026.
• Aguas Calientes Project Highlights:
• Float boulder mineralization over ~6 km strike.
• Historic intercepts: 23.0 m @ 1.12 g/t Au, 11.5 g/t Ag; 20.0 m @ 1.15 g/t Au, 3.9 g/t Ag; 20.0 m @ 1.35 g/t Au, 5.2 g/t Ag.
• Drill permits already in hand.
• Other Projects: El Camino (potential IOCG), Oscara (large land package, possible IOCG), La Frontera (significant historic silver trench results), Catua (copper oxide occurrence).
• Financing Plan: SpinCo will conduct a private financing to fund its 2025/26 field program (geochemistry & geophysics) and later raise capital for drilling after a public listing.
• Public Listing Intent: Upon completion of the plan of arrangement, SpinCo will become a reporting issuer in Canada and seek a public listing (no guarantee of success).
• Altar PEA Update: Preliminary Economic Assessment publication delayed to Q4 2025 pending Nuton Holdings LLC review per joint‑venture option agreement dated 6 Nov 2024.
• Regulatory/Qualified Person: Technical data reviewed by Dr. Kevin B. Heather, chief geological officer & director of Aldebaran (NI 43‑101 qualified person).

Notable Quotes

“We believe that the proposed reorganization will unlock additional value for Aldebaran shareholders… The spin‑out will allow shareholders to retain exposure to Altar while receiving shares in SpinCo in 2026.” – John Black, CEO, Aldebaran Resources Inc.

“I am delighted to lead SpinCo and advance this promising portfolio of Argentine exploration projects.” – Sam Leung, appointed CEO & director of SpinCo.