Canamera Energy Enters Joint Venture Option Agreement with Bindi Metals for Schryburt Lake Rare Earths Project, Ontario

Executive Summary

• Canamera Energy Metals Corp. entered into a Joint Venture Option Agreement with Bindi Metals Ltd. to acquire up to a 90% interest in the Schryburt Lake Rare Earths Project in northwestern Ontario.
• Initial cash payment of $25,000 and issuance of 250,000 common shares will secure a 51% “First Option” interest, contingent on funding $1.5 M of project expenditures within 12 months of permit receipt.
• Additional “Second” and “Third” options allow Canamera to increase its stake to 76% and ultimately 90% by committing further funded expenditures of $3 M and $4.5 M, respectively, over specified timeframes.

Key Details

• Project Overview: Schryburt Lake Rare Earths Project comprises 255 mineral claims covering 4,726 ha, located ~120 km north of Pickle Lake, Ontario, with road access to within 30 km.
• First Option (51%):
• Cash payment: $25,000 (to be paid within 7 business days).
• Share issuance: 250,000 common shares to Bindi Metals.
• Funding commitment: $1,500,000 in project expenditures, due within 12 months after receipt of all required permits.
• Second Option (additional 25% → total 76%):
• Funding/incurrence of $3,000,000 in project expenditures, to be completed within two years of exercising the First Option.
• Third Option (additional 14% → total 90%):
• Funding/incurrence of $4,500,000 in project expenditures, to be completed within two years of exercising the Second Option.
• Management Comments:
• Brad Brodeur, CEO, highlighted the partnership as a “compelling opportunity” to advance a high‑potential rare earth and niobium system.
• Eddie King, Chairman of Bindi Metals, emphasized the timing relative to growing global demand for REEs.
• Qualified Person Review: Technical information approved by Warren Robb, P.Geo., VP Exploration (Qualified Person under NI 43‑101).

Notable Quotes

“We're excited to partner with Bindi Metals on the Schryburt Lake Project, which presents a compelling opportunity to advance a high‑potential Rare Earth and Niobium system in a proven Canadian jurisdiction.” – Brad Brodeur, CEO, Canamera Energy Metals Corp.

“This joint venture is intended to enhance the development of the Schryburt Lake Project and is well‑timed to capitalize on the increasing global demand for rare earth elements.” – Eddie King, Chairman, Bindi Metals Ltd.