Total Metals closes acquisition of Menary gold project

The most recent news (March 23, 2026) confirms that Total Metals Corp. has officially closed the acquisition of the Menary gold project in Ontario. This follows the option agreement announced in December 2025. The company paid the initial consideration of $210,000 in cash and $210,000 in shares. The project is noted for extreme high-grade historical grab samples (up to 8,120 g/t Au) and a drill intercept of 16.99 g/t Au over 6.3 metres. This acquisition was completed alongside an ongoing 5,500-metre drill program at the company's other flagship, the Electrolode project.

• Operational Continuity: The closing is a "Routine - Positive" event because it fulfills a previously announced strategic goal. It transitions the Menary project from a "pending option" to an active asset in the portfolio.
• Asset Quality: The historical grades at Menary are exceptionally high, providing the company with a high-upside exploration target to complement its more advanced High Lake resource.
• Financial Commitment: The acquisition structure is back-ended, requiring $400,000 (half cash/half shares) annually for the next four years. This preserves immediate cash but creates a recurring liability.
• Strategic Positioning: The project's proximity to the Rainy River mine (Coeur Mining) adds "near-mine" exploration appeal, which often attracts major mining interest if discovery success follows.

Total Metals Corp. is a Canadian explorer focused on gold and critical minerals in Ontario and Manitoba. - Flagship Project (Exploration): Electrolode Project (Red Lake, Ontario). A 3,000-hectare property targeting VMS-style base metals and gold, located between Kinross Gold’s Great Bear and First Mining’s Springpole. - Flagship Project (Resource): High Lake – West Hawk Lake. Contains the Purdex Zone with an Indicated resource of 45,800 oz Au (9.38 g/t) and Inferred resource of 96,200 oz Au (10.43 g/t).