Vault Announces Acquisition Of U.S. Historical Mirage-Mariposa Tungsten Mine Within The Gray Eagle Project

Vault has acquired a 100% interest in the historical Mirage‑Mariposa Tungsten Mine (part of the Gray Eagle Project) in California and the North Tungsten Project in Quebec. The deal is for US$380,000 in staged cash payments plus a 2.0% net smelter return (NSR) royalty. Mirage‑Mariposa covers 33 lode claims (~682 acres) and is a tungsten skarn with associated precious metals. The vendor has provided historical, non‑NI 43‑101 compliant resource estimates: 21,000 t indicated and 34,400 t inferred at an average grade of 0.15% WO₃. There has been no modern drilling. CEO Quinn Field‑Dyte said the company sees an opportunity to apply modern techniques to define and potentially expand the system.

The acquisition is squarely in line with Vault’s stated strategy of picking up advanced historical U.S. mines with minimal equity dilution. At just US$380k and a 2% royalty, the cost is negligible relative to the company’s current cash position (recently raised $500k) and market cap. The resource is tiny — roughly 83 tonnes of contained WO₃, worth no more than a few million dollars even at elevated tungsten prices — and is entirely historical, meaning no resource confidence exists. The project adds inventory to the tungsten portfolio but does not move the needle on valuation. The stock jumped from $0.54 to $0.71 on the day, suggesting some enthusiasm for the expanding critical‑minerals story, but the news itself is routine for a junior explorer (an option‑like acquisition of an early‑stage property). There is no maiden resource, no new discovery, and no strategic financing attached. It is incremental, not a material positive event.

Vault Strategic Mining Corp. is a junior explorer using a disciplined option‑based acquisition model to build a portfolio of advanced historical mines in the United States, targeting gold, silver, and strategic metals (tungsten, beryllium). As of the Feb 19 2026 presentation, the company’s key assets were: - Mia Silver Project (Idaho) – flagship for 2026, high‑grade gold‑silver zone with historic assays up to 1.10 oz/t Au and 178 oz/t Ag. - Wheeler Tungsten Project (Nevada) – historically produced 1,800 t @ 1.3% WO₃; maiden exploration program underway. - Robinson Dike (Idaho) – historic heap‑leach gold potential, resource ~940,000 t @ 0.041 oz/t Au. - Golden Dome (California) – high‑sulfidation epithermal gold, prior operator planned 30‑40 koz/year. - Letain Nickel Project (British Columbia) – early‑stage nickel‑cobalt in ultramafic terrain. The May 8, 2026 acquisition adds Mirage‑Mariposa Tungsten and the undefined North Tungsten Project in Quebec. No production or current resource is assigned to any asset.