Sterling Metals Completes Acquisition of QcX Gold Corp.

Sterling Metals Corp. has completed the acquisition of QcX Gold Corp. through a court-approved plan of arrangement. Under the terms of the deal, QcX shareholders received Sterling common shares, warrants, and options based on an exchange ratio of 0.20789, which equates to one Sterling share for every 4.81026 QcX shares. As a result, Sterling issued 4,922,249 common shares to former QcX shareholders, granting them approximately 9.6% post-transaction ownership.

The transaction consolidates a land package exceeding 35,000 hectares across the Batchewana Copper Belt in northern Ontario. In exchange for outstanding QcX derivatives, Sterling issued 1,649,399 common share purchase warrants and 299,361 options to acquire Sterling shares. Albert Contardi, the former CEO of QcX, has been appointed to Sterling’s Board of Directors. QcX shares are expected to be delisted from the TSXV around September 1, 2026. No finders' fees were payable on the transaction.

Sterling Metals Corp. (SAG) has completed the acquisition of QcX Gold, a routine milestone following the announcement in June 2026 and shareholder approval in August 2026. The transaction expands the company’s district footprint by approximately 40%, adding exploration targets surrounding the Soo Copper Project and consolidating over 35,000 hectares.

The deal is dilutive, issuing approximately 4.92 million new shares, representing about 10.6% on a basic basis, plus approximately 1.65 million warrants and 0.30 million options. This dilution was priced into the stock during the approval phase. Additionally, the transaction adds former QcX CEO Albert Contardi to the board, providing continuity and local expertise for the expanded land package. The news is positive for long-term district potential but does not represent a surprise catalyst, aligning with management's stated strategy of consolidating the Batchewana Copper Belt.

Sterling Metals Corp. (SAG) is a pre-revenue junior explorer focused on the Soo Copper Project in Ontario, near Sault Ste. Marie. The company’s flagship MEPS Discovery has intersected broad, near-surface copper-molybdenum-gold mineralization, with drill holes reporting intervals up to 445m at 0.40% CuEq and high-grade bornite zones. The geological model points to a large, multi-phase porphyry copper system with a 30km regional copper corridor.

The company also holds the Adeline Project in Labrador, which has been impaired to $1, and recently sold the Sail Pond Project. Additionally, the acquisition of QcX Gold adds significant land position and historical targets to the Batchewana Copper Belt.