York Harbour sells 25M shares of Firetail for $1.71M

Executive Summary

• York Harbour Metals Inc. sold 25 million ordinary shares of Firetail Resources Ltd., generating net proceeds of approximately CAD $1.71 million.
• The company retains a 54 million share stake in Firetail (valued at approx. AUD $5.08 million based on current trading) and a 51% interest in the York Harbour project, with potential for further equity and cash consideration upon Firetail's earn-in.
• Firetail plans to commence drilling on the York Harbour project in 2026 following recent geophysical work, while York Harbour is actively discussing the advancement of its Bottom Brook rare-earth property.

Key Details

• Firetail Share Sale: York Harbour sold 25 million ordinary shares of Firetail Resources Ltd.
• Net Proceeds: Approximately CAD $1.71 million generated from the sale.
• Remaining Firetail Stake: York Harbour retains ownership of 54 million ordinary shares of Firetail.
• Valuation of Remaining Stake: Based on a trading price of 9.4 Australian cents per share, the remaining 54 million shares are valued at approximately AUD $5.076 million.
• York Harbour Project Interest: York Harbour holds a 51% interest in the York Harbour project and a 2% net smelter return (NSR) royalty.
• Earn-In Terms: Under the option agreement with Firetail, York Harbour is eligible to receive an additional 75 million Firetail shares and AUD $300,000 in cash if Firetail completes the earn-in to acquire an 80% interest in the project.
• Post-Earn-In Structure: Upon completion of the earn-in, York Harbour will retain a 20% free-carried interest in the project.
• Firetail Project Activity: Firetail completed extensive geophysical work during the spring and summer of 2025 and intends to commence drilling in 2026.
• Firetail Corporate Updates: Firetail acquired a highly prospective gold project in Nevada and raised an additional AUD $5 million at 8 Australian cents per share.
• Bottom Brook Property: York Harbour is engaged in active discussions with several parties to advance its high-grade Bottom Brook rare-earth property.
• CEO Strategy: CEO Blair Naughty describes the company's model as a "strategic gatherer and monetizer of undervalued assets," leveraging 36 years of public market experience.

Notable Quotes

• "Firetail has been an outstanding partner for York Harbour... Their geological team has done excellent work identifying new targets to expand the resource at York Harbour." — Blair Naughty, CEO
• "This is the model I've built my career on -- spotting emerging trends early, acquiring quality assets ahead of the crowd and then capitalizing once the market catches up... I plan to apply the same playbook that I've refined over 36 years in the public markets -- now for the benefit of York Harbour shareholders, where I'm also a 25-per-cent owner." — Blair Naughty, CEO