Metal Energy to issue 862,708 shares for option payment

Executive Summary

• Metal Energy Corp. will issue 862,708 common shares to the optionor as the second payment under its October 23, 2025 option agreement for the Niv and West Niv exploration properties in north‑central British Columbia.
• The shares are priced at a deemed C$0.348 per share, based on the 10‑trading‑day VWAP, representing part of the consideration for an exclusive option to acquire an 80 % interest in the properties.
• Issuance is subject to TSX Venture Exchange approval and will be placed under a four‑month‑and‑one‑day hold period.

Key Details

• Share Quantity: 862,708 common shares to be issued to the optionor.
• Deemed Share Price: C$0.348 per share (10‑trading‑day volume‑weighted average price).
• Consideration Structure: Shares constitute the second payment under the option agreement; the first payment was previously made (details not restated).
• Option Scope: Exclusive option to acquire an 80 % interest in the Niv and West Niv exploration properties located in the Toodoggone district, BC.
• Regulatory Conditions: Issuance requires approval from the TSX Venture Exchange.
• Holding Period: Shares will be subject to a four‑month‑and‑one‑day hold period post‑issuance.
• Project Portfolio Context: The Niv project is now fully controlled (100 % owned) and drill‑ready, adding to Metal Energy’s portfolio of three high‑potential projects (Niv, Highland Valley, Manibridge).

Notable Quotes

(No direct quotes provided in the release.)