Osiris One Metals Closes Acquisition of 80% Interest and Announces Filing of Technical Reports on "Western Range" Silver Copper Project in Western Australia

Osiris One Metals Ltd. completed the acquisition of an 80% interest in the Western Range Silver Copper Project in Western Australia on June 24, 2026. The transaction consideration includes US$30,000 in cash, 9,000,000 shares subject to staggered hold periods, and a free carry to a Bankable Feasibility Study. This closing follows the initial announcement made on June 1, 2026, marking the completion of a previously disclosed transaction.

A NI 43-101 technical report was filed simultaneously, detailing over 19,000 hectares of tenements in the Capricorn Orogen near the producing Abra Mine. Historical exploration by BHP and Rio Tinto in the 1990s identified underexplored targets, with only one hole drilled to 160m before being halted by high water flows. The company plans to verify historic targets, conduct confirmatory geophysics, and initiate a targeted drilling program to test anomalies like Edge 12A, BGA005, and Collie 42.

Osiris One Metals Ltd. (OSM) has closed its acquisition of the Western Range, a transaction fully anticipated following the company’s June 1 announcement. The deal adds a defined exploration pipeline to the company’s portfolio in a well-understood mining region, leveraging historical data from major miners.

The cash consideration for the acquisition is nominal at US$30,000, preserving the company's limited cash reserves. The transaction involves the issuance of 9,000,000 shares, representing approximately 8.6% dilution to existing shareholders. This issuance is a standard cost for such acquisitions but exerts downward pressure on the share price. Additionally, the agreement includes a free carry to a Bankable Feasibility Study, a standard industry practice that signals a future capital requirement the company must address.

The stock price has already adjusted downward from $0.04 to $0.03 in the days surrounding the announcement and closing, indicating the market has priced in the dilution and incremental nature of the news.

Osiris One Metals Ltd. (OSM) is a mineral exploration company building a portfolio of lithium, silver, copper, and base metal projects. The company recently completed a corporate continuation to British Columbia and changed its name from its previous Alberta incorporation.

Its flagship projects include the Urgakh Naran lithium brine project in Mongolia, which holds the first lithium brine licence ever granted in the country. The newly acquired Western Range project in Western Australia adds a silver-copper focus near the producing Abra Mine. The company is in the exploration stage, with no defined mineral reserves or resources, and relies on historical data and early-stage drilling to advance its assets.