V Ten Metals Provides Update on Its Tanami Property, Located in NT, Australia

V Ten Metals Corp. (VTEN) has issued a progress update regarding its exploration farm-in and joint venture agreement with Newmont Corporation concerning the Tanami Property in the Northern Territory, Australia. Since the agreement was signed in May 2024, Newmont has incurred approximately $330,000 in expenditures. The total expenditure required for the option period is $500,000, with a deadline of August 26, 2028.

The Tanami Property comprises four semi-contiguous granted exploration licenses covering 1,237 sq km, located approximately 450 km northwest of Alice Springs. Tenement administration has been streamlined, with portions of the joint venture agreement amalgamated into a new single tenement, EL 34507, issued on August 26, 2026.

A project-wide prospect ranking and evaluation study is currently underway, with completion expected in the fourth quarter of 2026 to guide future exploration planning. CEO D. Blair Way confirmed the joint venture is progressing to plan and committed to providing periodical updates on the farm-in.

V Ten Metals Corp. (VTEN) released a routine progress update on October 28, 2026, confirming that its Newmont joint venture is advancing according to the original timeline. Newmont’s expenditure of $330,000 tracks well against the $500,000 requirement due in August 2028, demonstrating continued partner commitment.

The announcement of a prospect ranking study due in December 2026 serves as a logical next step following the recent transition to diamond core drilling and soil sampling. This milestone sets a clear near-term objective for exploration prioritization. The news does not introduce new targets, unexpected discoveries, or changes to the joint venture structure, acting instead as an incremental follow-up to the August drilling mobilization and October core drilling switch.

Given the stock's decline from $0.94 to $0.45 over the past seven months, the market has already priced in exploration risk and general venture capital sentiment.

V Ten Metals Corp. (formerly V Ten Capital Corp.) completed a qualifying transaction on February 27, 2026, transitioning from a shell capital pool company to an active mineral exploration issuer. The company’s flagship asset is the Tanami Northern Territory Project, which comprises four granted exploration licenses—EL 23848, EL 31402, EL 23874, and EL 23875—covering 1,237 sq km in the Tanami Desert.

The property is located approximately 30 km east of Newmont's Granites mine. Exploration focus areas include nickel-copper-PGE, orogenic gold, and heavy rare earth elements (HREE). The properties are designated "drill-ready" with cleared drill pads and active field programs, although no mineral resources or reserves have been defined to date. Infrastructure relies on existing access routes from Alice Springs, with no dedicated power, water, or processing infrastructure currently developed.