Metal Energy Completes Right of First Refusal Agreement on NIV Copper-Gold Project in British Columbia

Executive Summary

• Metal Energy Corp. exercised its right of first refusal to acquire the remaining 20% interest in the NIV and West NIV mineral tenures in British Columbia’s Toodoggone District.
• The transaction was completed via issuance of 600,000 common shares to the grantor; the shares are subject to a statutory hold period of four months and one day and await final TSX‑V approval.
• The deal enhances Metal Energy’s optionality to consolidate up to 100% ownership of the fully permitted copper‑gold‑molybdenum target, supporting its 2026 drilling program.

Key Details

• Transaction Structure: Right‑of‑first‑refusal agreement granting Metal Energy the right to purchase the remaining 20% interest on the same terms as any third‑party offer.
• Consideration: Issuance of 600,000 common shares (“Consideration Shares”) to the grantor; no cash or finder’s fees involved.
• Share Hold Period: Statutory hold period of four months and one day from issuance date.
• Regulatory Condition: Share issuance pending final approval by the TSX Venture Exchange.
• Strategic Impact: Provides optionality to increase ownership from 80% (already earned) to potentially 100%, enabling full control of the NIV project for future drilling in 2026.
• Project Portfolio Update: Metal Energy now controls three high‑potential projects:
• NIV Project (Cu‑Au‑Mo, 100% controlled) – Toodoggone District, BC
• Highland Valley Project (Cu‑Mo‑Ag‑Au‑Re, 100% owned) – British Columbia
• Manibridge Project (Ni‑Cu‑Co‑PGE, 85% owned) – Manitoba

Notable Quotes

“This agreement enhances our long‑term optionality to consolidate ownership of a highly compelling, fully permitted copper‑gold porphyry target in one of British Columbia's most prospective districts,” — Stephen Stewart, Chairman, Metal Energy Corp.

All forward‑looking statements are subject to risks and uncertainties detailed in the company’s public disclosures.