VTen Announces Drill Program at the Tanami Property, NT, Australia

V Ten Metals Corp. (VTEN) announced plans for an inaugural Reverse Circulation (RC) drill program at its Tanami Property in the Northern Territory, Australia. The initial program consists of 6-10 drill holes totaling approximately 2,150 meters. Mobilization is scheduled for the first half of August 2026 with United Drilling Services.

The company secured two government grants totaling $139,393 from the Northern Territory Department of Mining, Geophysics and Drilling Collaborations program to fund specific exploration activities. Technical objectives include testing high-priority nickel-copper-PGE targets, confirming sulphide mineralization in fresh bedrock, validating geophysical models, and defining geological controls along a northeast-trending corridor.

The property is strategically located approximately 30 km east of the Newmont Granites mine. CEO Blair Way emphasized that the property has not been drill tested to depth and that this program will orient an aggressive follow-up campaign.

The announcement confirms the execution of the planned work program rather than delivering unexpected results or a major strategic shift.

The company received a $139,393 grant, which offsets a small fraction of the anticipated drilling costs but does not materially alter the company's cash burn profile or funding requirements. No new mineral resources, reserves, or economic studies were announced, and the company remains in the pre-resource exploration stage. The news is incremental and expected, validating management's stated exploration timeline without providing a near-term catalyst for significant price appreciation.

V Ten Metals Corp. (formerly V Ten Capital Corp.) transitioned from a capital pool shell to an active mineral exploration issuer following a qualifying transaction closed on February 27, 2026. The company’s flagship asset is the Tanami Property in the Northern Territory, Australia. Tenure consists of four semi-contiguous granted exploration licenses (EL 23848, EL 31402, EL 23874, EL 23875) covering 1,237 sq km. The properties are designated "drill ready" with cleared drill pads.

The company’s commodity focus includes nickel, copper, PGEs, orogenic gold, and rare earth elements. A joint venture farm-in agreement with Newmont Exploration Pty Ltd allows Newmont to acquire up to 80% interest by committing $500k in initial expenditures and $3.5M AUD over three years. An option to pay A$2M for a 75% stake exists at Phase 1 completion.