NeoTerrex Executes Definitive Agreement to Acquire 100% of Reservoir Copper-Gold-Silver-Tungsten Project in Quebec

NeoTerrex Minerals Inc. has executed a definitive option agreement to acquire up to a 100% interest in the Reservoir Project, a 6,090-hectare polymetallic copper-gold-silver-tungsten property located in Quebec's Eastmain Greenstone Belt. The transaction follows a non-binding Letter of Intent announced on August 19, 2026.

Under the earn-in structure, NeoTerrex must spend $500,000 in cash and $3,000,000 in exploration expenditures by December 31, 2030, paid in staged tranches. Fury Gold Mines retains a 2% Net Smelter Returns (NSR) royalty, with NeoTerrex holding the right to purchase 1% of the NSR for $1.0 million prior to commercial production.

The release highlights historical high-grade intersections from the 1980s-1990s, including up to 1.79 g/t Au over 21.0 m and 8.15% Cu over 1.0 m. The property has been underexplored since 2013. NeoTerrex plans to advance the project toward a winter drilling program subject to permit approvals.

Neoterrex Minerals Inc. (NTX) has executed a definitive agreement, a logical progression from the letter of intent signed in August 2026. This deal confirms management’s intent to add the Reservoir Project to its portfolio. The earn-in terms are conservative, capping total cash outlay at $500,000 and spreading $3.0 million in exploration work over four years. These terms are designed to minimize immediate dilution and cash burn.

A 2% NSR royalty is included in the agreement, which is standard for early-stage earn-ins and does not materially impact near-term economics. Historical assay data for the project is unverified and dates back decades, meaning modern exploration is required to validate continuity, grade, and economic viability. The market has already priced in the initial LOI, so this definitive agreement represents an incremental development.

Neoterrex Minerals Inc. (NTX) is a critical metals exploration company focused on projects in Quebec and Nunavik, targeting rare earth elements (REE), tungsten, copper, gold, and silver. Its flagship projects include Strange Lake West, which is adjacent to Torngat Metals' heavy REE deposit; Monument, located near the Montviel REE deposit; Revolver, a syenite-hosted REE project; Gravitas, which targets tungsten, copper, and gold; and the newly acquired Reservoir project. The company leverages Quebec's mining-friendly jurisdiction, existing infrastructure, and growing demand for domestic critical mineral supply chains. Management is led by President & CEO Mathieu Stephens, P.Geo., who also serves as the Qualified Person under NI 43-101.