Battery Mineral sells Gowganda claims to Nord Precious

Executive Summary

• Battery Mineral Resources Corp. has entered into a definitive agreement to sell its 100% interest in the Gowganda silver tailings project mining leases in Ontario, Canada, to Nord Precious Metals Mining Inc.
• The total transaction value is approximately $6.0 million, structured as a mix of cash, equity, and a royalty interest, with expected completion in mid-January 2026.
• Upon closing, Battery will become a shareholder of Nord Precious Metals and retain a 3.0% Net Smelter Return (NSR) royalty on the asset.

Key Details

• Asset Sold: 100% interest in the Gowganda silver tailings project, comprising four mining leases (LEA-109391 to LEA-109394) in Ontario, Canada.
• Total Consideration: Approximately $6.0 million.
• Upfront Payment: $1.0 million in cash payable on the closing date.
• Equity Component: $1.25 million in Nord Precious Metals shares payable on the closing date, calculated at a deemed price of 28.4 cents per share.
• Royalty Interest: A 3.0% Net Smelter Return (NSR) royalty retained by Battery on the Gowganda silver tailings project.
• Deferred Consideration: $3.75 million total, paid in three installments of $1.25 million on the first, second, and third anniversaries of the closing date.
• Deferred Payment Options: Nord may elect to satisfy up to 50% of each deferred payment in Nord common shares. The deemed share price for this election is the greater of:
  • The 25-day volume-weighted average trading price of Nord common shares on the TSX Venture Exchange ending on the last trading day preceding the payment date.
  • The minimum price permitted by the TSX-V.
• Share Restrictions: Any Nord common shares received by Battery are subject to a statutory hold period of four months and one day from the date of issuance.
• Transaction Status: Arm's-length transaction with no finders' fees. Closing is subject to conditions, including conditional approval from the TSX Venture Exchange.
• Closing Timeline: Expected to be completed in mid-January 2026.

Notable Quotes

• "We are pleased to enter into this transaction for our shareholders, providing approximately $6.0-million of value along with a 3.0-per-cent NSR royalty. The transaction allows us to realize on the value of the silver tailings and includes royalty upside to provide ongoing exposure to the asset. Upon completion of this transaction, we will become a shareholder of Nord and will continue to support and encourage their efforts." — Laz Nikeas, CEO of Battery Mineral Resources