Storm Completes Sale of Miminiska Project for $5.8M and Outlines Plans for 2026

Executive Summary

• Storm Exploration exercised its option to acquire 100% of the Miminiska and Keezhik Projects for $1,312,500 and immediately sold the Miminiska Project to Canadian Goldfields Discovery Corp. (CGDC) for total consideration of $5,812,500.
• The transaction includes cash payments, a non‑refundable deposit, and issuance of 7.5 million CGDC common shares (≈7.59% of CGDC’s post‑financing equity), with additional share/cash consideration payable on the 3‑month and 9‑month anniversaries.
• Storm now holds full ownership of three district‑scale projects (Keezhik, Gold Standard, Attwood) and plans drilling at Gold Standard in Q2 2026, Keezhik in Q3 2026, and Attwood in 2027.

Key Details

• Option Exercise: Completed payment of $1,312,500 to acquire 100% interest in Miminiska & Keezhik Projects under the May 5 2021 Option Agreement (amended).
• Net Smelter Royalty (NSR): Landore retains a 2% NSR on Keezhik; Storm may repurchase 1% for $1,000,000 at any time.
• Sale of Miminiska Project:
• Total consideration: $5,812,500 (cash + CGDC shares).
• Cash deposit: $200,000 (non‑refundable) paid prior to closing.
• Closing cash payment: $1,800,000 (includes $1,312,500 used for the option exercise).
• Additional cash payments of $1,525,000 scheduled on the 3‑month and 9‑month anniversaries of closing.
• Share Consideration:
• 7,500,000 CGDC common shares issued at closing (≈7.59% of post‑financing CGDC equity).
• Additional $787,500 worth of CGDC shares to be issued on the 9‑month anniversary, subject to share issuance caps; any shortfall will be paid in cash.
• Shareholder Approval: Obtained by written consent on December 31 2025 per TSX Venture policies.
• Regulatory Conditions: Transaction pending final TSXV approval.
• Exploration Agreements Updated: EFN exploration agreement amended to remove obligations related to Miminiska Project.
• Next Exploration Plans:
• Gold Standard: Ground work on a conductivity anomaly; drilling slated for Q2 2026.
• Keezhik: Dual‑approach exploration (targeted work at KL-12 & KL-27 showings with historic assays of 16.2 g/t Au over 2.0 m and 18.9 g/t Au over 1.5 m); airborne EM survey early 2026; drilling Q3 2026.
• Attwood: Airborne EM survey and mapping in 2026; drill‑testing targets planned for 2027.

Notable Quotes

• “These transactions place Storm in a strong position to take advantage of the bull market for precious metals and critical minerals,” – Bruce Counts, President & CEO.

Materiality Assessment: Material – Positive (significant acquisition/disposition with cash and equity consideration; materially alters Storm’s project portfolio and balance sheet).