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Visible Gold Mines Inc. (TSXV: VGD,OTC:VGMIF) is pleased to announce that SPOD Lithium has agreed to terminate its option agreement, originally announced on August 4, 2022. Under this mineral option agreement, SPOD had the option to acquire a 50% undivided interest in the MegaLi Property. The MegaLi Property is comprised of a total of 78 mining claims covering a total area of 40 square kilometres and is located in the James Bay Region in the Province of Québec.
The MegaLi Property remains a significant asset for Visible Gold Mines. Since the signature of the option agreement with SPOD Lithium in 2022, PMET Resources has worked tirelessly on their adjacent Shaakichiuwaanaan project and has made several new lithium and caesium discoveries. Additionally, the CV13 pegmatite located less than 2 km from Visible Gold Mines' MegaLi project now hosts the world's largest pollucite-hosted caesium pegmatite Mineral Resource at the Rigel and Vega zones with 0.69 Mt at 4.40% Cs2O (Indicated), and 1.70 Mt at 2.40% Cs2O (Inferred). (see PMET News Release dec.14, 2025).
Overall, SPOD Lithium has paid Visible Gold Mines $175,000, issued 2,375,000 SPOD common shares and has carried out work on the property (78 mining titles) totaling $1,162.529. Each party has released the other from any liability or further obligation under the agreement.
About Visible Gold Mines Inc.
Visible Gold Mines is a corporation focused on gold in the prolific Abitibi Gold Belt and the James Bay region in the province of Quebec. Visible Gold Mines has 37,155,164 common shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Website: www.visiblegoldmines.com
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Visible Gold Mines, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Visible Gold Mines' control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Financial Risks" and "Risk Factors" in Visible Gold Mines' Annual Report for the fiscal year ended July 31, 2025, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Visible Gold Mines does not intend, nor does Visible Gold Mines undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
SOURCE Visible Gold Mines Inc.
View original content: http://www.newswire.ca/en/releases/archive/February2026/04/c8813.html
