Quebec Nickel Corp. Completes Acquisition of The Ecru Project, Nevada

On April 13, 2026, Quebec Nickel Corp. announced the completion of its acquisition of the Ecru Property in Nevada from Orogen Royalties Inc. The transaction involves a total cash consideration of $250,000 and the issuance of 1,000,000 common shares at $0.165 per share. A further $125,000 worth of shares will be issued within six months based on VWAP pricing. The company granted Orogen a 2.0% Net Smelter Return (NSR) royalty on the property. Concurrently, the company announced its intention to change its corporate name to "Aurbis Resources Corp." pending regulatory approval. This closes the deal originally signed on February 27, 2026, and proposed in an LOI on December 17, 2025.

The completion of the acquisition is expected and follows the definitive agreement announced nearly two months prior. Consequently, this news does not contain genuinely new market-moving information regarding the asset itself, as the terms were already disclosed. The primary materiality lies in the execution risk removal; the deal is now closed. However, from a critical perspective, the activation of the marketing agreements (announced March 12) contingent on this closing introduces immediate cash burn pressure ($47,250 per month combined with SMARTIR and Mining.com.au fees). While the asset acquisition expands the portfolio into a premier gold district (Cortez/Battle Mountain), it does not yet provide resource data. The share issuance at $0.165 is below the recent trading range (~$0.26), representing dilution to existing shareholders, though less than the March private placement price of $0.25. Overall, this is a routine execution of prior strategy with increased operational overhead.

Quebec Nickel Corp. is a junior explorer pivoting from nickel/copper in Quebec (Ducros Property) to gold in Nevada (Ecru Project). The Ducros property has been impaired to nominal value ($1 carrying value) with significant prior impairment losses recognized. The new flagship, Ecru Property, comprises 112 claims on the Cortez/Battle Mountain Trend, adjacent to major deposits like Robertson. Management is led by CEO Johan Lambrechts (appointed Feb 2026), formerly of Antares Metals, and Executive Chairman David Patterson.