Metal Energy completes phase 1 option payments for NIV

Executive Summary

• Metal Energy Corp. completed Phase 1 of its option agreement for the NIV and West NIV exploration properties in British Columbia, issuing 862,708 common shares and making an initial cash payment of $300,000.
• The transaction secures an exclusive right to earn an 80% undivided interest in the fully permitted, drill‑ready copper‑gold‑molybdenum project, moving the company closer to drilling.
• Completion is subject to final TSX Venture Exchange approval; the issued shares are subject to a four‑month‑plus hold period.

Key Details

• Option Agreement Scope: Grants Metal Energy an exclusive right to earn an 80% undivided interest in the NIV and West NIV properties; a separate Right of First Refusal covers the remaining 20%.
• Share Issuance: 862,708 common shares issued to the optionor as consideration for Phase 1. Shares are subject to a hold period of four months and one day from issuance.
• Cash Consideration: Initial cash payment of $300,000 made toward the aggregate cash obligation required under Phase 1.
• Property Description: NIV is a fully permitted, drill‑ready porphyry copper‑gold‑molybdenum project in the Toodoggone district, featuring extensive coincident geochemical and geophysical anomalies.
• Regulatory Status: Transaction remains pending final approval from the TSX Venture Exchange.
• Strategic Impact: Adds a high‑potential, fully permitted project to Metal Energy’s portfolio, complementing existing assets (Highland Valley and Manibridge projects).

Notable Quotes

“With this first phase complete, we move NIV one step closer to drilling. We're now focused on bringing forward the value we see in this compelling porphyry target in the Toodoggone district,” – Stephen Stewart, Chairman, Metal Energy Corp.