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M&A / Property

Ridgestone Acquires Las Pilas Rare Earth Property

By The Northwire Desk — AI Analysis Dec 31, 2025 · 21:25 RMI · 0.105 Ridgestone Mining Inc.
RMI · Price

Executive Summary

  • Ridgestone Mining Inc. entered an option agreement to acquire 100% of the Las Pilas Project in southern British Columbia for rare‑earth and critical mineral exploration.
  • Initial consideration: $20,000 cash plus issuance of 200,000 common shares at a deemed price of $0.105 per share; additional $300,000 cash and 300,000 shares required to exercise the option, together with a minimum $600,000 of exploration spend over three years.
  • The agreement includes a 2% net smelter return (NSR) royalty payable to the owners, with an optional one‑time purchase of half of this royalty for $1,000,000.

Key Details

  • Initial Option Exercise: Pay $20,000 cash and issue 200,000 common shares ($0.105 per share) upon regulatory approval; shares subject to a 4‑month + 1‑day hold period.
  • Full Exercise Requirements: Additional payment of $300,000 cash, issuance of another 300,000 shares, and commitment to spend at least $600,000 on exploration over the next three years.
  • Royalty Terms: 2% NSR royalty in favor of the owners; Ridgestone may purchase 50% of this royalty for a one‑time payment of $1,000,000.
  • Property Description: Las Pilas comprises two mineral claims (1,202.02 ha) plus seven pending title applications covering an additional 4,236.81 ha, located in the Greenwood‑Grand Forks area within the historic Greenwood Mining District.
  • Geology Highlights: Includes the Rock Candy Creek fluorite occurrence and associated fault systems; historically mined high‑grade fluorite veins and breccias indicate a viable hydrothermal system for rare‑earth and critical mineral potential.
  • Regulatory Condition: Transaction subject to acceptance and filing with the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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Dec 31, 2025 · 03:06

Ridgestone enters option to acquire Las Pilas

M&A / Property