Battery Mineral Resources Announces Closing of Sale of Gowganda Claims to Nord Precious Metals

Executive Summary

• Battery Mineral Resources Corp. completed the sale of its 100% indirect interest in four Gowganda mining leases (including the silver tailings project) to Nord Precious Metals Mining Inc.
• Total consideration consists of $1 M cash, $1.25 M worth of Nord shares at $0.284 per share, a 3.0% NSR royalty on the project, and deferred cash payments of $3.75 M payable over three years (with an option to settle up to 50% of each payment in Nord common shares).
• The transaction is arms‑length, requires final TSXV approval, and no finder fees are payable.

Key Details

• Transaction Structure: Amended and restated definitive agreement dated March 31 2026; sale by Battery’s subsidiary North American Cobalt Inc.
• Assets Sold: Four mining leases (LEA‑109391 – LEA‑109394) covering the historic Gowganda silver tailors project in Northern Ontario, transferred “as‑is where‑is.”
• Cash Consideration: $1,000,000 paid at closing.
• Equity Consideration: 4,401,408 Nord shares valued at $0.284 per share (aggregate $1,250,000).
• Royalty: 3.0% net smelter return royalty on the Gowganda silver tailings project retained by Battery.
• Deferred Consideration: $1,250,000 payable on each of the first, second, and third anniversaries of closing (total $3,750,000).
• Share Settlement Option: At Nord’s election, up to 50% of each deferred payment may be satisfied in Nord common shares, not to exceed 10,938,610 shares, priced at the greater of:
• The 25‑day VWAP on TSX Venture Exchange preceding the payment date, or
• The minimum price permitted by the TSXV.
• Statutory Hold Period: Nord shares received will be subject to a four‑month‑plus‑one‑day hold period from issuance.
• Regulatory Condition: Completion pending final approval of the TSX Venture Exchange.
• No Finder Fees: The transaction is arms‑length with no finder fees payable.

Notable Quotes

(None provided in the release)