VTEM Airborne Survey and NI43-101 Technical Report Complete for VR Resources Empire Copper-Nickel-PGM Project in Ontario

VR Resources Ltd. (VRR) has confirmed the completion of the VTEM+ airborne electromagnetic and magnetic survey covering the Empire, Rambler, and Mack properties in Ontario. The company expects the final processed data and inversions to be available by the end of July 2026.

In related developments, Athos Metals Corporation received confirmation from the TSXV that its NI 43-101 Technical Report for the Empire District Project establishes the asset as a property of merit suitable for a public listing. Athos has entered into a definitive merger agreement with Meed Growth Corp. (TSXV: MEED.P) to become publicly listed, with VR Resources retaining a 9.9% equity stake in the resulting issuer.

Follow-up drilling at the Empire project is anticipated for late summer or fall 2026, contingent on the integration of the final survey data.

VR Resources Ltd. (VRR) released results on July 16, 2026, marking a direct follow-up to the February 2026 farm-out agreement with Athos Metals. Under the terms of that agreement, VR is set to receive $400,000 in cash and a 9.9% stake in Athos following its public listing. The company’s progress aligns with its previously communicated timeline: TSXV conditional approval was granted in April 2026, the VTEM+ survey commenced in May 2026, and survey completion is now confirmed for mid-July.

The news is incremental and expected, introducing no new financial terms, altering no transaction structure, and providing no immediate cash flow to VR. VR's treasury remains funded by prior financings, specifically $3.15M in January and $1.17M in April 2026. While the completion of the survey and Athos's regulatory progress de-risks the transaction slightly, it does not change the fundamental exploration-stage status of VR's Nevada assets. The market's reaction, with the stock trading near multi-month lows, suggests the milestone is already priced in or overshadowed by broader liquidity concerns and dilution fears.

VR Resources Ltd. (VRR) is an exploration-stage company focused on polymetallic porphyry and epithermal systems in Nevada, USA, with secondary assets in Ontario, Canada. Its flagship project, New Boston in Nevada, is a large-footprint (3-4 km strike) molybdenum-tungsten-copper-silver porphyry-skarn system. Recent drilling at NB26-003 intersected 2,892 ft of continuous veining, confirming geophysical anomalies.

The company’s secondary projects include Bonita, a copper-gold porphyry that completed a 3D-array DCIP survey in March 2026, and Empire/Silverback in Ontario, which was farmed out to Athos Metals in February 2026. All properties are in the exploration phase, and no mineral resources or reserves have been reported. The company explicitly states that modern drilling and geochemical data are required for a compliant resource estimate. Management is led by Dr. Michael Gunning, who serves as CEO and Chairman and has a background in successful mining acquisitions.