New Earth applies for state lease lands at Lucky Boy

Executive Summary

• New Earth Resources Corp. has applied for approximately 268 acres of additional state mineral lease land contiguous to its Lucky Boy uranium project in Arizona, which would nearly double its current land position in the area if approved.
• The company reported that since the beginning of 2026, it has received $749,750 in gross proceeds from the exercise of 5,998,000 share purchase warrants, with funds designated for general working capital.
• The lease application is subject to approval by the Arizona State Land Department, with no assurance of approval provided.

Key Details

• Land Application: Application submitted to the Arizona State Land Department for ~268 acres of state mineral lease land.
• Location: Contiguous to the existing Lucky Boy uranium project in Gila County, Arizona.
• Strategic Impact: Approval would nearly double the company's current land position within the Lucky Boy area, providing strategic flexibility for future exploration and development planning.
• Current Land Position: The Lucky Boy project currently consists of 14 lode claims spanning approximately 273 acres, including a small open pit and underground workings that produced uranium in the 1950s and 1970s.
• Warrant Exercises (2026 YTD):
  • Aggregate gross proceeds: $749,750.
  • Shares issued: 5,998,000 shares.
  • Source: Exercises of previously issued share purchase warrants.
  • Use of Proceeds: General working capital.
• Regulatory Status: Applications are subject to review and approval by the Arizona State Land Department; no assurance of approval is given.

Notable Quotes

• "The application for additional state lease ground represents a logical extension of our existing land position at Lucky Boy... The expanded acreage would significantly strengthen our footprint in the area and provide greater flexibility as we continue to evaluate the project's potential. We believe consolidating adjacent land is an important step in advancing the project in a disciplined and methodical manner." — Lawrence Hay, Chief Executive Officer