Miata's Sela exploitation licence renewed for 5 years

Mr. Jaap Verbaas reports MIATA METALS ANNOUNCES EXPLOITATION LICENSE RENEWAL FOR THE SELA CREEK GOLD PROJECT Miata Metals Corp.'s exploitation licence has been renewed for a period of five years. The company has further completed its anniversary payments for the option agreement on its Sela Creek gold project. "We are pleased to have received the renewal of our exploitation licence for another five years, providing a long runway for continued exploration," stated Jaap Verbaas, chief executive officer of Miata. "We are now firmly established at Sela Creek and well into our 10,000 m drill program. With our recently closed oversubscribed financing, we are well positioned to continue systematic exploration on our flagship project." The five-year renewal, granted by the Geological Mining Service in Suriname (GMD), covers 100 square kilometres encompassing the vast majority of the current artisanal mining footprint at Sela Creek, including Miata's primary zones of interest. The licence allows the company to continue exploration activities such as sampling, trenching and drilling. Miata has made the required cash payments under the option agreement to date and issued 592,883 Miata shares to the optionors of Sela Creek (representing $100,000 (U.S.) in shares at the trailing-five-day volume-weighted average price). The company has completed all work commitments as required for the length of the option agreement. Full terms of the option agreement for Sela Creek are contained in Miata's Aug. 26, 2024, press release. To satisfy the option agreement and increase its 70-per-cent earned interest to 100 per cent, the remaining milestones shown in the attached table are required. The company has also issued 2.4 million stock options to management and consultants of the company. These options have an exercise price of 25 cents, carry a three-year term and vest over 12 months (50 per cent on grant and 50 per cent after 12 months). About Miata Metals Corp. Miata Metals is a Canadian mineral exploration company listed on the Canadian Securities Exchange, as well as the OTCQB (OTCQB: MMETF) and Frankfurt (FSE: 8NQ) exchanges. The company is focused on the acquisition, exploration and development of mineral properties. The company holds a 70-per-cent interest in the approximately 215-square-kilometre Sela Creek gold project with an option to acquire a full 100-per-cent interest in the project and a 70-per-cent beneficial interest in the Nassau gold project in Suriname with an option to acquire 100 per cent. Both exploration properties are located in the greenstone belt of Suriname. We seek Safe Harbor.