Anteros, Seagull operator Rift to begin drilling

Executive Summary

• Anteros Metals and Rift Minerals are proceeding with a fully financed and permitted deep drill program at the Seagull Critical Minerals Project in Ontario, scheduled for January 2026.
• The program aims to evaluate a previously untested geophysical anomaly for platinum group elements, nickel, copper, hydrogen, and helium.
• Anteros has raised $824,530 to exercise an option to acquire up to a 49% interest in the project, starting with a contingent 20% interest upon completion of Phase 1 drilling.

Key Details

• Project Location: Seagull Critical Minerals Project, located approximately 80 km northeast of Thunder Bay, Ontario.
• Drill Program Details:
  • Timing: January 2026.
  • Scope: Fully financed and fully permitted deep drill program.
  • Objective: Evaluate a previously untested low-velocity geophysical anomaly identified by Rift's ambient noise tomography survey beneath the Seagull mafic-ultramafic intrusion.
  • Target Commodities: Platinum group elements (PGEs), nickel, copper, hydrogen, and helium.
  • Operator: Rift Minerals Inc.
• Financing & Option Terms:
  • Total Funds Raised: $824,530.
    • $604,530 in flow-through funds.
    • $220,000 in hard-dollar funds.
  • Funding Sources: Tranche 1 (Nov. 3, 2025) and Tranche 2 (Nov. 21, 2025).
  • Option Structure: Anteros has an option to acquire up to a 49% undivided interest.
  • Phase 1 Earn-In Requirements:
    • Underwrite the Phase 1 cost of a planned 1,350-metre drill hole to earn a contingent 20% interest.
    • Make a one-time upfront cash payment of $50,000 to Rift prior to drilling commencement.
    • Budget for Phase 1 deep drill hole: $600,000.
  • Future Phases: Pending Phase 1 results, Anteros will consider completing a second phase of exploration based on recommendations.
• Technical Methodology:
  • Drilling: Deep drill hole to test subsurface zone of interest.
  • Gas Sampling: Specialized downhole gas sampling to be conducted by LTD Production Services Ltd. under the direction of Edelgas Group.
  • Context: Historical drill records from 2001 documented gas presence in a prior borehole on the intrusion. Gas testing is investigatory and does not imply commercial gas resources.
• Qualified Person: Dr. Geoff Heggie, PGeo (Ontario), reviewed and approved the scientific and technical information.

Notable Quotes

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