Adelayde Exploration Acquires the Sisson NW Tungsten Project in New Brunswick

Executive Summary

• Adelayde Exploration Inc. announced a definitive agreement to acquire the 4,890‑acre “Sisson NW Tungsten Project” in New Brunswick, expanding its tungsten footprint to 9,780 acres adjacent to Northcliff Resources’ mine.
• The transaction will be funded by issuance of 6,000,000 common shares (valued at $0.11 per share) and a cash payment of CAD 5,000, subject to regulatory approvals and exploration spend conditions.
• Management highlighted the strategic importance of tungsten amid rising global demand and disclosed plans for a maiden drill program on its Esmeralda County Gold Project in Nevada later in 2025.

Key Details

• Target Property: Sisson NW Tungsten Project – 89 claims covering 4,890 contiguous acres in New Brunswick, directly bordering Northcliff Resources Ltd.’s Sisson Tungsten Mine.
• Combined Footprint: After acquisition, Adelayde will control 9,780 acres of prospective tungsten land (existing Sisson North + new NW project).
• Consideration:
• Cash payment of CAD 5,000 payable within seven business days of signing.
• Issuance of 4,500,000 common shares to the sellers at a deemed price of $0.11 per share upon closing.
• Additional issuance of 1,500,000 common shares contingent on the Optionee spending a minimum of CAD 200,000 on exploration within 18 months of signing.
• Share Hold Period: All issued shares are subject to a four‑month hold period.
• Regulatory Conditions: Acquisition is pending all required regulatory approvals.
• Management Commentary (James Nelson, President & CEO): Emphasized the surge in demand for critical metals such as tungsten due to geopolitical tensions and noted strong market enthusiasm for tungsten equities. Also announced an upcoming maiden drill program on the Esmeralda County Gold Project in Nevada for 2025.
• Qualified Person: Technical disclosure reviewed and approved by Frank Bain, P.Geo., Director and qualified person under NI 43‑101.

Notable Quotes

“Critical metals, including tungsten… have once again been thrust into the global spotlight as the dispute between USA and China escalates… The combination of China’s tightening control over tungsten production and growing demand has made tungsten even more valuable on the global market.” – James Nelson, President & CEO

Materiality Assessment: Material – Positive (significant expansion of resource base and strategic acquisition in a high‑demand metal sector).