M&A / Property
Supreme Critical Metals Options the Gator Property, Nevada and Announces Change to Board of Directors
CRIT · Price
Executive Summary
- Supreme Critical Metals signed a Letter of Intent to earn up to a 100% interest in the Gator Property (3,306 acres) in Nevada through a staged share‑issuance and drilling work program over five years.
- The earn‑in requires issuance of up to 10 million common shares at a deemed price of $0.105 per share and completion of specific geophysical, mapping, and drilling milestones, culminating in a minimum 2 Moz Au NI 43‑101 resource.
- The company announced board appointments: Christopher Gulka appointed to the Board (and currently CFO) and Gerald Tritt resigned.
Key Details
- Property: Gator Property, Pershing & Lander Counties, Nevada – 160 mining claims covering 3,306 acres (13.4 km²).
- Historical Work: 650 m of RC drilling, geologic mapping, rock chip sampling, UAV magnetics, structural interpretation; DOE‑funded aeromagnetics, gravity and MT studies.
- Target: Covered distal‑disseminated epithermal Au‑Ag system comparable to nearby historic mines (McCoy‑Cove, Lone Tree).
- Permit: Existing BLM Notice of Intent permit; modification will allow additional drilling.
Option Terms (Earn‑In Schedule)
| Milestone | Share Issuance | Work Commitment |
|---|---|---|
| Signing (2026‑02‑24) | 1,000,000 shares @ $0.105/share | – |
| 1st Anniversary | 1,000,000 shares | Geophysics program & 1:2500 mapping of GSX block |
| 2nd Anniversary | 1,500,000 shares | Minimum 2,000 m drilling |
| 3rd Anniversary | 1,500,000 shares | Cumulative 8,000 m drilling (75% earn‑in) |
| 4th Anniversary | 2,000,000 shares | Cumulative 16,000 m drilling |
| 5th Anniversary | 3,000,000 shares | Delivery of ≥ 2 Moz Au NI 43‑101 M&I resource |
- Royalty: Existing 5% Net Smelter Return royalty held by Castelton Park LLC (third‑party agreement).
Board Changes
- Appointment: Christopher Gulka, CPA, CA, CFA – current CFO – appointed to the Board of Directors, effective immediately.
- Resignation: Gerald Tritt resigned from the Board; company expressed appreciation for his service.
Notable Quotes
“The geology, geochemistry and geophysics at Gator, in addition to its proximity to an important regional‑scale structure, combine to create an interesting exploration target,” – Ian Foreman, P.Geo., VP Exploration, Supreme Critical Metals.
All forward‑looking statements are subject to risks and uncertainties detailed in the release.
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Mar 02, 2026 · 21:00