Sorrento Resources Closes Bottom Brook Option Agreement

Executive Summary

• Sorrento Resources Ltd. closed an amended and restated option agreement to acquire up to 100% of Naughty Ventures’ interest in the Bottom Brook rare‑earth element property in Newfoundland and Labrador.
• The transaction was funded by issuing 9,000,000 common shares to Naughty Ventures plus a 900,000‑share finder’s fee to Kluane Capital FZCO; all shares are subject to a four‑month‑plus hold period expiring 21 March 2026.
• The acquisition expands Sorrento’s portfolio of REE and precious‑metal projects, reinforcing its strategic focus on Canadian mineral assets.

Key Details

• Option Agreement Date: 29 October 2025 (amended & restated).
• Target Asset: Bottom Brook rare‑earth element property (mineral claims) in Newfoundland and Labrador.
• Consideration:
• 9,000,000 Sorrento common shares issued to Naughty Ventures.
• Additional 900,000 Sorrento common shares issued to Kluane Capital FZCO as a finder’s fee.
• Share Hold Period: Four months and one day; expires 21 March 2026.
• Ownership Transfer: Up to 100% of Naughty Ventures’ right, title, and interest in the Bottom Brook property will be transferred to Sorrento upon completion.
• Strategic Rationale: Enhances Sorrento’s REE project pipeline alongside existing assets (Rodgers Cove Gold, Harmsworth VMS).

Notable Quotes

“This acquisition aligns with our objective to locate and develop economic rare‑earth element properties of merit in Canada,” – Alex Bugden, CEO & President.