Anteros Metals Provides Corporate Update on Seagull Critical Minerals Project, Ontario

Executive Summary

• Anteros Metals and Rift Minerals are proceeding with a fully funded, fully permitted deep drill program at the Seagull Critical Minerals Project slated for January 2026.
• The company has raised $824,530 (US$604,530 flow‑through + US$220,000 hard‑dollar) to underwrite Phase 1 of the program and secure an option to acquire up to a 49% undivided interest in the project.
• Phase 1 consists of a single 1,350‑metre drillhole targeting a previously untested low‑velocity geophysical anomaly; Rift will conduct drilling with a $600k budget and Anteros will make a $50k upfront cash payment to Rift.

Key Details

• Funding Raised: Total $824,530
• $604,530 in flow‑through financing (press releases Nov 3 2025 & Nov 21 2025)
• $220,000 hard‑dollar funds
• Option Grant: Up to 49% undivided interest in the Seagull Project, exercisable upon completion of Phase 1.
• Phase 1 Commitment by Anteros:
• Underwrite drilling cost for a 1,350‑metre hole (budget $600,000) to earn a contingent 20% interest.
• One‑time upfront cash payment of $50,000 to Rift before drilling starts.
• Potential consideration of Phase 2 based on Phase 1 results.
• Drill Program Scope:
• Single deep drillhole (1,350 m) targeting a low‑velocity geophysical anomaly identified by Rift’s Ambient Noise Tomography (ANT) survey beneath the Seagull mafic‑ultramafic intrusion.
• Incorporates specialized downhole gas sampling (performed by LTD Production Services Ltd., directed by Edelgas Group: Rare Gas Consultants).
• Project Context:
• Seagull Project located ~80 km NE of Thunder Bay, Ontario; historically explored for Ni, Cu, and PGEs with ~20,000 m of diamond drilling (1998‑2012).
• 2024 ANT survey by Rift revealed contrasting velocity domains not yet drill‑tested. This release is the first public disclosure of those survey results.
• Qualified Person: Dr. Geoff Heggie, P.Geo., reviewed and approved technical information under NI 43‑101.

Notable Quotes

(No direct quotes were provided in the release.)