Osiris One Metals to Acquire Island Range Copper Gold Project

Osiris One Metals Ltd. has entered a definitive agreement to acquire an exclusive option for a 100% undivided interest in the Island Range Copper Gold Project on Vancouver Island, BC. The project encompasses 8,535 hectares and is situated contiguous to historic high-grade copper producers, specifically the Three Jays and Monitor mines.

The consideration for the transaction includes 8,000,000 common shares valued at $1,375,000, $1,375,000 in cash payable over 48 months, and $530,000 in minimum exploration expenditures. The asset carries a 3.0% Net Smelter Return (NSR) royalty, with an option to repurchase 0.5% for $1,000,000.

Management plans a Q4 exploration program focusing on drone mapping, geochemical sampling, and IP geophysics to define sulphide-bearing zones at depth. The transaction requires TSX Venture Exchange approval and carries a statutory four-month hold period for the issued shares.

Osiris One Metals Ltd. (OSM) has acquired a new asset, marking a strategic shift from lithium brines to North American copper-gold projects. This move follows the divestiture of the Urgakh Naran project and the acquisition of Western Range.

The transaction involves the issuance of 8,000,000 shares against approximately 104,000,000 outstanding shares, resulting in roughly 7.7% dilution. This level of dilution is considered standard for junior exploration acquisitions.

The financial impact on the company’s balance sheet is notable. Including a $530,000 exploration commitment, the total cash requirement for the deal is $1.905M. With Q1 2026 cash reserves standing at $1.06M and a working capital deficiency, the acquisition significantly increases the need for near-term capital.

The announcement aligns with the CEO’s stated strategy to refocus the company’s portfolio. It does not introduce unexpected geological breakthroughs or new strategic partnerships, serving as a routine expansion for the micro-cap explorer.

Osiris One Metals Ltd. (formerly Lithium Ion Energy) is a micro-cap exploration company focused on base and precious metals. The company recently completed a corporate restructuring, continuation to British Columbia, and a name change.

Flagship projects now include: - Western Range (Western Australia): 80% interest in a 19,000-hectare silver-copper project near the producing Abra Mine. - Victory Project (Mongolia): 20% free carried interest in a copper-gold project advanced by Trinity One Metals. - Island Range (Vancouver Island, BC): Newly acquired 100% option for a large-scale porphyry-skarn copper-gold target.

The company has transitioned away from its original lithium brine focus (Urgakh Naran) to prioritize North American and Australian copper-gold-silver assets.