Collective Metals Announces Acquisition of Rocas Uranium Project in the Renowned Athabasca Basin

Executive Summary

• Collective Metals signed a definitive option agreement to acquire a 75% interest in the 4,002‑ha Rocas uranium project in the Athabasca Basin.
• The option requires cash payments of $250,000 and issuance of $700,000 of shares plus $4.5 M of exploration expenditures over three years, with earn‑in provisions culminating in a 75% equity stake after Year 3.
• Initial ground‑truthing work began on September 30, 2025, including mapping, prospecting and sampling; multiple high‑priority drill targets have been identified for a maiden drilling program in 2026.

Key Details

• Option Structure – Effective Sept 26, 2025; option to acquire 75% of Rocas Project.
• Consideration Payments: Year 1 – $75,000 cash; Year 2 – $50,000 cash; Year 3 – $125,000 cash (total $250,000).
• Share Issuances: Year 1 – 100,000 shares; Year 2 – 275,000 shares; Year 3 – 325,000 shares (total 700,000 shares), subject to escrow release (18‑month for Years 1‑2, 12‑month for Year 3).
• Exploration Expenditures: $1.5 M per year (total $4.5 M) funded by the company; operator fees of 10% in Year 1, rising to 12% in Years 2‑3.
• Earn‑In Milestones: No earn‑in percentage until completion of Year 3, at which point Optionee obtains 75% equity; Standard retains 25% plus a 2.5% NSR royalty (1.0% purchasable for $1 M).
• Project Highlights:
• 7.5 km of NE‑SW magnetic low trend with EM conductors and cross‑cutting faults.
• Surface grab samples over ~900 m strike grading up to 0.5 wt.% U₃O₈ (undrilled).
• High‑resolution ground gravity survey (2024) identified alteration halos and new drill targets.
• Exploration Activities:
• Standard Uranium team mobilized Sept 30, 2025 for detailed mapping, prospecting, sampling; samples to be analyzed by Saskatchewan Research Council Geoanalytical Laboratories.
• Ongoing geophysical interpretation throughout 2025 to refine drill target models.
• Future Plans:
• Integration of historic EM, gravity, lake‑bed geochemistry data to define high‑priority drill targets.
• Anticipated maiden drilling program slated for 2026 after further de‑risking work.
• Regulatory/Compliance: Qualified Person review by Sean Hillacre, P.Geo., President & VP Exploration, Standard Uranium (NI 43‑101).

Notable Quotes

“The Rocas Project is a flagship uranium asset with strong potential to deliver long‑term shareholder value. Advancing the initial work program ahead of winter will equip our team with critical insights to strategically design and execute a maiden drill program.” – Chris Huggins, CEO, Collective Metals