Vault hires Amazona for Mount Wheeler exploration

Executive Summary

• Vault Strategic Mining Corp. has engaged veteran geologist William Feyerabend and Amazona Enterprises to conduct a maiden field exploration and reconnaissance program at its Mount Wheeler historical tungsten project in Nevada.
• The company has entered into loan agreements totaling $200,000 with two arm's-length lenders, dated April 1, 2026, to fund general working capital.
• The exploration program aims to address key geological questions and support the preparation of an NI 43-101 technical report, while the company evaluates potential future submissions to U.S. federal and state agencies for critical minerals development.

Key Details

• Exploration Engagement:
  • Engaged William (Bill) Feyerabend, CPG, and Amazona Enterprises.
  • Program type: Short-duration field assessment and reconnaissance.
  • Focus areas: Host rock characteristics, structural controls, and mineralizing processes relevant to tungsten systems.
  • Goal: Refine exploration strategy and prepare an NI 43-101 technical report and comprehensive technical overview.
  • Future initiatives: Evaluating submissions to U.S. federal and state agencies for critical minerals development programs, including studies on historical mine infrastructure, site conditions, and potential rehabilitation.
• Financing:
  • Entered into loan agreements with two arm's-length lenders.
  • Date of agreements: April 1, 2026.
  • Total amount: $200,000.
  • Use of proceeds: General working capital.
  • Terms: Subject to a loan fee of 10%.
• Project Background (Mount Wheeler Historical Tungsten Mine):
  • Location: Nevada, United States.
  • Historical Activity: Main period of activity began with tungsten discovery in 1950.
  • DMEA Contract: 1952–1955 under Defence Minerals Exploration Administration.
  • Historical Production (1952–1954): 1,800 tons of rock extracted and milled at Minerva, Nev., averaging 1.3% WO3 (tungsten trioxide), with 75% DMEA sponsorship.
  • Average Grade: Approximately 0.5% WO3 for rock mined from the Pole Adit zone.
  • 1972 Feasibility Study: Commissioned by W.S. Moore Co.; included piloting by Colorado School of Mines and additional exploration by Anaconda Company (1959–1962), driving 1,000 samples and 4,475 feet of laterals/subdrifts.
  • Infrastructure: Access roads are blacktopped except for the last five-mile stretch (gravel).
• Regulatory & Technical Context:
  • Historical data (pre-NI 43-101) is non-compliant with current standards and should not be relied upon as current resources/reserves.
  • Company holds historical technical data including non-compliant resource estimates, drilling records, sampling results, mine plans, and metallurgical representations.
  • Future requirements: Confirmation drilling, modern metallurgical studies, updated technical evaluations, and NI 43-101-compliant resource estimates/feasibility studies are needed to define current resources and assess economic viability.
• Qualified Person:
  • William Feyerabend, CPG, independent consulting geologist, reviewed and approved the disclosure for NI 43-101 consistency.

Notable Quotes

• Quinn Field-Dyte, CEO: "We are pleased to have the opportunity to collaborate with Mr. Feyerabend and the team at Amazona. Following the recent acquisition, we are excited to commence our initial exploration activities at the Mount Wheeler tungsten historical mine without delay. This program represents an important first step toward the preparation of an NI [National Instrument] 43-101 technical report, aimed at evaluating and advancing the potential of Mount Wheeler in Nevada -- a state consistently ranked among the world's premier mining jurisdictions by the Fraser Institute."