Fuerte Metals signs definitive deal to sell El Cofre

Executive Summary

• Fuerte Metals Corp. entered a definitive agreement to sell its 100 % owned El Cofre project in Chile to Chilean Cobalt Corp.
• Consideration: 4.5 million common shares of Chilean Cobalt (≈ US$1.89 M) plus reimbursement of recent concession payments.
• Closing expected around November 11, 2025, subject to regulatory approvals; Fuerte will refocus on its Placeton/Caballo Muerto project.

Key Details

• Seller: Fuerte Metals Corp. (100 % owner of El Cofre project).
• Buyer: Chilean Cobalt Corp., via its wholly‑owned subsidiary Baltum Mineria SpA.
• Transfer Mechanism: Cobalt Chile SpA will transfer 100 % ownership of the mining concessions to Baltum Mineria SpA.
• Consideration Received by Fuerte:
• 4.5 million common shares of Chilean Cobalt Corp., valued at approximately US$1.89 million.
• Reimbursement for the most recent concession payments associated with El Cofre.
• Closing Timeline: Expected on or about November 11, 2025, pending regulatory approvals and customary closing conditions.
• Strategic Rationale: Sale allows Fuerte to concentrate resources on its primary Chilean asset, the Placeton/Caballo Muerto project, which contains several untested porphyry copper targets adjacent to major regional deposits (Relincho and El Morro/La Fortuna).

Notable Quotes

• No direct quotes were provided in the release.