Supreme enters option deal to acquire Gold Springs 1

Executive Summary

• Supreme Critical Metals Inc. has entered into an agreement to acquire an option to earn a 100% interest in the Gold Springs 1 property, a gold-silver exploration project located in Lincoln County, Nevada.
• The transaction involves a cash consideration of $250,000 payable over four years and the issuance of 1.25 million common shares to the assignor, Stockworks Agency Inc.
• Upon exercise of the option, Nevada Select Royalty Inc. will retain a 3.0% Net Smelter Returns (NSR) royalty on all mineral production from the property.

Key Details

• Transaction Structure: Supreme Critical Metals acquired an option from Stockworks Agency Inc. (assigning rights from Nevada Select Royalty Inc., a subsidiary of Gold Royalty Corp.) to earn a 100% interest in the Gold Springs 1 property.
• Cash Consideration: Total cash payments totaling $250,000 (U.S.) are required over a four-year period:
  • $15,000 on the effective date (Oct. 9, 2025).
  • $25,000 on or before the first anniversary.
  • $45,000 on or before the second anniversary.
  • $75,000 on or before the third anniversary.
  • $90,000 on or before the fourth anniversary.
• Equity Consideration: At closing, subject to Canadian Securities Exchange approval, Supreme will pay Stockworks 1.25 million common shares at a deemed price of $0.21 per share.
• Closing Date: Expected on or about November 15, 2025.
• Royalty Terms: Nevada Select retains a 3.0% Net Smelter Returns (NSR) royalty upon exercise of the option.
• Exploration Rights: The agreement allows for standard exploration rights including surface access, geochemical sampling, geophysics, mapping, and drilling, consistent with U.S. Bureau of Land Management regulations.
• Property Location: Gold Springs 1 is located in the Stateline (Eagle Valley) mining district, Lincoln County, Nevada, approximately 40 km east of Pioche near the Nevada-Utah state line.
• Property Size: Comprises 23 unpatented mining claims covering a contiguous land package in Township 1 North, Range 71 East, Mount Diablo Meridian.
• Historical Production: The district recorded roughly $400,000 in historical gold-silver production from 1896 into the 1930s.
• Geological Features:
  • Two principal fault-controlled zones identified: the Tempa-Helen vein system and the Miramonte zone.
  • Mineralization is characterized by low-sulphidation epithermal gold-silver mineralization with extensive silicification and quartz-adularia-calcite veining.
  • Tempa vein averages 2–10 meters in width, traceable for >1.6 km along strike with ~250 m vertical exposure.
  • Miramonte zone extends ~1.2 km through silicified outcrops, pits, and an adit.
• Historical Assay Data (Unverified):
  • Gold Summit Corp. reported assays up to 517 g/t Ag and 4.2 g/t Au.
  • Early chip sampling in the Miramonte zone reported 0.9 m at 40 g/t Au from a quartz vein.
• Regional Context: The property is part of the broader Gold Springs 1 epithermal trend. Adjacent projects include Gold Springs Resource Corp.'s Gold Springs project, Nevada King Gold Corp.'s Atlanta gold mine, and NevGold Corp.'s Cedar Wash project.
• Future Plans: The company intends to begin fieldwork to rank drill targets immediately, with a view toward a 2026 drilling program.

Notable Quotes

• "The Gold Springs 1 acquisition advances our disciplined strategy to build a diversified North American portfolio across silver, copper, uranium and gold," said George Tsafalas, interim chief executive officer and director of Supreme Critical Metals. "Nevada is among the world's most mining-friendly jurisdictions, and Gold Springs 1 represents an early stage exploration opportunity within a well-documented mineralized belt, and we'll begin fieldwork to rank drill targets now, with a view to a 2026 program."