Sherpa II completes purchase of remainder of Bakar

Executive Summary

• Sherpa II Holdings Corp. has completed the acquisition of the remaining 25% interest in the Bakar property from District Metals Corp., bringing its ownership to 100%.
• The transaction was settled via the issuance of 1.5 million common shares of Sherpa II to District Metals.
• The company states it is now positioned to begin its inaugural drill program at the Bakar property, specifically targeting the EC drill targets.

Key Details

• Transaction Structure: Sherpa II acquired District Metals' remaining approximate 25% interest in the Bakar property.
• Consideration: Payment was made through the issuance of 1.5 million common shares of Sherpa II Holdings Corp.
• Closing Date: The shares were issued to District Metals on November 6, 2025.
• Share Restrictions: The issued shares are subject to a hold period of four months and one day.
• Property Details: The Bakar property is a high-grade copper-silver deposit located on northern Vancouver Island, British Columbia.
• Strategic Context: The completion of this purchase follows a definitive purchase agreement dated June 3, 2025, and a recently completed non-brokered private placement.
• Future Plans: Sherpa II intends to use the fully owned property to begin an inaugural drill program to test EC drill targets.

Notable Quotes

• "With the purchase of the remaining ownership of Bakar completed, the exploration permit in hand and the recently completed non-brokered private placement, Sherpa II is well positioned to begin the inaugural drill program at the Bakar property and test the EC drill targets." — Thomas O'Neill, CEO of Sherpa II