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Anteros Metals Inc. (CSE: ANT) ("Anteros" or the "Company") announces that it has entered into a mining option agreement (the "Option Agreement") with an arm's length party (the "Optionee") dated March 10, 2026 (the "Effective Date"), pursuant to which the Company granted the Optionee an option (the "Option") to acquire its knob lake property (the "Property") located in Newfoundland and Labrador.
As consideration for the Option, the Optionee shall:
- make a cash payment in the amount of $100,000 within thirty (30) days of the Effective Date (the "First Option Payment"). Upon completion of the First Option Payment, the Optionee shall earn a 25% interest in the Property;
- upon completion of the First Option Payment and on or before the third (3rd) anniversary of the Effective Date: (i) make a cash payment in the amount of $314,992; and (ii) at the election of the Optionee, complete a preliminary economic assessment (as that term is defined in National Instrument 43-101 – Standard of Disclosure for Mineral Projects) on the Property (the "Second Option Payment"). Upon completion of the First Option Payment, the Optionee shall earn an additional 50% interest in the Property;
- upon completion of the Second Option Payment and on or before the fifth (5th) anniversary of the Effective Date: (i) make a cash payment in the amount of $314,992; and (ii) at the election of the Optionee, obtaining all necessary regulatory approval, permits and agreements, including without limitation indigenous benefit and rail agreement, to permit the Optionee to commence construction of a mine on the Property (the "Third Option Payment"). Upon completion of the Third Option Payment, the Optionee shall earn an additional 10% interest in the Property;
- upon completion of the Third Option Payment and on or before the seventh (7th) anniversary of the Effective Date: (i) make a cash payment in the amount of $470,016; and (ii) at the election of the Optionee, commencing Commercial Production (as such term is defined in the Option Agreement).
In addition, upon completion of the First Option Payment, the Optionee shall grant the Company a 0.5% net smelter returns royalty (the "Royalty") on the Property.
The completion of the transaction contemplated by the Option Agreement remains subject to the approval of all regulatory and other approvals, including the approval of the Canadian Securities Exchange.
ABOUT Anteros Metals Inc.
Anteros Metals Inc. is a Canadian mineral exploration company focused on advancing a pipeline of projects across Newfoundland and Labrador and select Canadian jurisdictions. The Company applies a technically driven, data-supported exploration approach targeting critical minerals and emerging strategic commodities relevant to the global energy transition.
For further information:
Email: info@anterosmetals.com | Phone: +1-709-769-1151
Web: www.anterosmetals.com
On behalf of the Board of Directors:
Chris Morrison
Director
chris@anterosmetals.com | +1-709-725-6520
16 Forest Road, Suite 200, St. John's, NL, Canada A1X 2B9
Cautionary Statement Regarding Forward-Looking Information
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company's mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288220
