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

On February 17, 2026, Storm Exploration Inc. (STRM) announced the completion of a multi-stage transaction involving the acquisition and immediate partial divestiture of its Ontario assets. Storm exercised its option to acquire a 100% interest in the Miminiska and Keezhik projects from Landore Resources for $1,312,500. Simultaneously, Storm sold the Miminiska project to Canadian Goldfields Discovery Corp. (CGDC) for a total consideration of $5,812,500. This consideration consists of $1,800,000 in immediate cash, 7,500,000 shares of CGDC, and future cash/share payments totaling $2,312,500 scheduled for the 3-month and 9-month anniversaries of the closing. Storm retains 100% ownership of the Keezhik, Gold Standard, and Attwood projects.

This transaction is a material positive for Storm Exploration, primarily because it resolves a critical liquidity crisis. As of the September 30, 2025, financial statements, the company held only $7,926 in cash against $1,070,619 in current liabilities, representing a significant equity deficiency. - Liquidity Infusion: The $1.8M initial cash payment provides an immediate working capital buffer, while the $5.8M total deal value (including future tranches) significantly exceeds the company's current market capitalization. - Liability Reduction: By exercising the option and divesting Miminiska, Storm has cleared its major payment obligations to Landore and offloaded the liabilities associated with the Miminiska project. - Strategic Focus: The company is now fully funded to execute two drill programs in 2026 (Gold Standard in Q2 and Keezhik in Q3) without the immediate need for a highly dilutive equity financing at current low share prices. - Market Validation: Selling a project for $5.8M that was part of an option package validates management's ability to identify and surface value in under-explored district-scale assets.

Storm Exploration is a Canadian explorer focused on gold and base metals in Ontario. - Flagship Project: Following the sale of Miminiska, the Keezhik Gold Project becomes the primary focus. It is a district-scale property in the Miminiska-Fort Hope greenstone belt. - Target: High-grade orogenic gold. Historical results include 16.2 g/t Au over 2.0m. - Secondary Assets: Gold Standard (VMS and Gold) and Attwood (Gold and Base Metals).