Metal Energy Prepares Initial Drill Program at Its Highland Valley Copper Project, British Columbia

Metal Energy Corp. announced plans for a 2,000-meter initial drill program at its 100% owned Highland Valley Copper Project in British Columbia, scheduled to commence in October 2026. The company received a multi-year Mines Act drill permit in July 2026, authorizing up to 50 drill sites, 11.7 km of new exploration trail, and 80 line-kilometres of geophysical surveying.

Six priority porphyry targets have been defined via nearly two years of geophysical, geochemical, and permitting work, with drilling expected to last approximately 35 days at an estimated cost of C$800,000. The company confirmed a robust balance sheet of over $9 million and stated it is fully funded for the entirety of its 2026 exploration programs.

The release details the issuance of 2,358,797 common shares to Fox Tungsten Inc. to satisfy milestone payments under a previous acquisition agreement, valued at C$2,000,000.

Metal Energy Corp. (MERG) announced developments following the July 13, 2026, permit approval, marking a routine progression in its exploration timeline. The company issued shares to Fox Tungsten as part of a previously announced acquisition agreement. This contractual issuance is dilutive but does not signal a new capital raise or financial distress.

The update confirms that Metal Energy Corp. is executing on its planned exploration schedule for Highland Valley, aligning with prior management guidance and historical announcements. No new strategic investors, major financing, or operational breakthroughs were disclosed. The news is considered positive but incremental, confirming execution without altering the fundamental risk/reward profile.

Metal Energy Corp. (MERG) is a pre-revenue junior exploration company focused on copper, gold, nickel, and battery metals in Canada. Its flagship asset is the NIV Copper-Gold-Molybdenum project in British Columbia’s Toodoggone District, which features a 5 km long geochemical and geophysical anomaly targeting large-scale porphyry systems.

The company also holds the Highland Valley Copper Project, a 240 sq km property located on the same intrusive complex as Teck’s Highland Valley Copper mine, Canada’s largest copper operation. Additionally, Metal Energy Corp. owns 85% of the Manibridge Nickel-Copper-Cobalt-PGE project in Manitoba. The company is led by CEO Charlie Greig, with technical advisors Alex Walcott and Dr. Roy Greig, leveraging extensive regional exploration track records.