IDEX Metals Announces Completion of Option Agreement Transaction with WestGold Metals
WestGold takes a 90% option on IDEX’s Idaho assets, preserving the company’s upside potential in the region.
IDEX Metals Corp. (via subsidiary Silver Rock Resources Inc.) has completed an option agreement with WestGold Metals Corp. for three Idaho exploration properties: the Amie Project, the Silver Rock Project, and the Demming Project. WestGold has acquired an exclusive option to earn a 90% interest in the properties.
The initial consideration includes CAD$100,000 cash and 5,737,000 WestGold common shares issued to IDEX. WestGold is obligated to incur a minimum of C$5,000,000 in aggregate exploration expenditures over three years to fully exercise the option. Upon full exercise, a joint venture forms with WestGold holding a 90% participating interest and IDEX retaining a 10% carried interest. WestGold acts as operator and bears all costs until commercial production.
IDEX also retains a 1.5% Net Smelter Returns (NSR) royalty, reducible to 1.0% via a $2,000,000 payment.
In a separate development, IDEX entered into a 6-month consulting agreement with Domestique Capital Corp. for investor relations services, costing $7,500 per month plus 200,000 stock options at a $0.55 exercise price.
IDEX Metals Corp. (IDEX) completed an option agreement on May 14, 2026, marking an expected, incremental corporate development rather than a surprise. The move to monetize non-core assets aligns with management's stated strategy to concentrate capital and technical effort on the flagship Freeze Project.
The transaction provides immediate cash of $100,000, equity in WestGold consisting of 5.7 million shares, and a 10% carried interest, preserving upside without diluting IDEX shareholders. Additionally, a $5 million exploration commitment by WestGold de-risks the Amie, Silver Rock, and Demming projects while keeping them on IDEX's balance sheet.
An investor relations agreement, standard for junior explorers, does not materially impact financials.
IDEX Metals Corp. (IDEX) is a pre-revenue junior explorer focused on the Freeze Project in Washington and Adams Counties, Idaho. The flagship Freeze Project is a magmatic-hydrothermal porphyry system targeting copper, gold, molybdenum, silver, and tungsten. The company controls 31,645 acres, including a 28,432-acre IDL mineral lease.
Recent drilling (2025-2026) has intersected continuous copper mineralization, broad tungsten enrichment, and identified a potential buried intrusive centre beneath North Breccia. The company is in the active exploration phase with no historical or current mineral resource estimates.