Anteros Metals Enters Into Option Agreement

Executive Summary

• Anteros Metals entered into a mining option agreement granting an arm’s‑length party the right to acquire up to 85% of its Knob Lake property in Newfoundland and Labrador.
• The option requires staged cash payments totaling $1,200,000 over seven years, with incremental ownership interests (25%, additional 50%, then 10%).
• Upon completion of the first payment, the Optionee will issue a 0.5% NSR royalty to Anteros; subsequent milestones include optional preliminary economic assessments and regulatory approvals for mine construction and commercial production.

Key Details

• Effective Date: March 10 2026.
• First Option Payment: $100,000 due within 30 days; confers a 25% interest in the Property to the Optionee.
• Second Option Payment: $314,992 payable by the third anniversary of the Effective Date; optional preliminary economic assessment; an additional 50% interest earned (total 75%).
• Third Option Payment: $314,992 payable by the fifth anniversary; conditional on obtaining all regulatory permits, indigenous benefit agreements, and rail access; an additional 10% interest earned (total 85%).
• Fourth Option Payment: $470,016 payable by the seventh anniversary; optional commencement of commercial production.
• Royalty Grant: Upon receipt of the First Option Payment, the Optionee will grant Anteros a 0.5% net smelter return royalty on all production from the Property.
• Regulatory Condition: Completion of each payment and associated milestones is subject to approval by the Canadian Securities Exchange and other required regulatory authorities.

Notable Quotes

(No executive quotes were provided in the release.)