Linear Minerals enters deal to acquire Kipawa property

Executive Summary

• Linear Minerals Corp. has entered into an option agreement to acquire a 100% interest in the Kipawa West rare-earth property in Quebec, Canada.
• The acquisition involves a combination of equity issuances and staged exploration expenditures over a three-year period, with the seller retaining a 2% Gross Mineral Royalty (GMR).
• The property consists of 53 claims covering approximately 3,000 hectares in the Abitibi-Temiscamingue region, situated near the historic Kipawa rare-earth deposit.

Key Details

• Asset Details: The Kipawa West property comprises 53 map-designated mining claims covering ~3,000 hectares, located ~30 km east of Temiscaming and ~140 km south of Rouyn-Noranda, Quebec.
• Geological Context: The claims cover peralkaline syenites, gneisses, amphibolites, calc-silicate rocks, marbles, and peralkaline gneissic granites of the Grenville province. Historical sampling indicates anomalous cerium and lanthanum values. The nearby Kipawa deposit is noted for heavy rare earths (HREE) and had NI 43-101 resources updated in a 2013 feasibility study.
• Transaction Structure (Option Agreement dated Dec. 9, 2025):
  • Equity Consideration: Linear Minerals must issue common shares to the optionor as follows:
    • 1,000,000 shares upon execution of the option agreement.
    • 1,500,000 shares on or before the first anniversary of the effective date.
    • 2,000,000 shares on or before the second anniversary of the effective date.
  • Exploration Expenditures: Linear Minerals must incur the following cash expenditures on the property:
    • $250,000 on or before the first anniversary of the effective date.
    • $500,000 on or before the second anniversary of the effective date.
    • $500,000 on or before the third anniversary of the effective date.
• Royalty: The optionor retains a 2.0% Gross Mineral Royalty (GMR) from any future production.
• Regulatory & Trading Conditions:
  • Share issuances are subject to regulatory approvals, including the Canadian Securities Exchange (CSE).
  • Issued shares are subject to a hold period of four months and one day from the date of issuance.
• Next Steps: The company is reviewing historical data and preparing an initial work program including mapping, sampling, and geophysical studies to define drilling targets.

Notable Quotes

• "With this acquisition, Linear Minerals strengthens its mission to identify and develop high-value critical mineral assets in politically stable, mining-friendly jurisdictions."