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VR Resources Limited (TSXV: VRR,OTC:VRRCF; FSE: 5VR; OTCQB: VRRCF) "VR" or the "Company", is pleased to announce the voting results from the Company's Annual General Meeting of Shareholders (the "Meeting"), and a progress update on its Empire Transaction.
AGM Results: The Meeting was held on August 27, 2026 and shareholders voted in favor of all resolutions brought before the Meeting, including:
- fixing the number of directors of the Company at three (3);
- re-electing each of Michael Gunning, Craig Lindsay and Keith Inman the Company's Board of Directors for the ensuing year;
- re-appointing Davidson & Company LLP as auditors for the Company for the ensuing year; and
- approving the Company's rolling Stock Option Plan.
Empire Project – Transaction Update: The Company is also pleased to provide an update on its previously announced farm-out transaction of its Empire and Silverback Cu-Ni-PGM-Au projects (the "Empire Transaction") in Ontario to Athos Metals Corp. ("Athos").
In connection with the proposed Empire Transaction (see VR news releases dated February 26, 2026 and July 16, 2026) Athos is moving forward to complete a Go-Public Transaction. As previously reported, Athos has completed a National Instrument 43-101 Technical Report for the Empire District Project (the "Technical Report") and the TSXV confirmed, in a letter dated May 26, 2026, that the Technical Report compliance review established the Empire District Project as a property of merit suitable to support Athos' proposed public listing. On June 3, 2026, Athos also announced a definitive merger agreement with Meed Growth Corp. (TSXV: MEED.P), a Capital Pool Company listed on the TSXV that is expected to result in Athos becoming a publicly listed company in the coming months.
Ongoing progress on the Empire Transaction includes:
- Add-on inversion products and reports were received from Geotech Ltd. for the VTEM+ airborne survey on July 28, 2026 and August 13, 2026, respectively. A third and independent geophysical summary interpretations report is expected by September 4, 2026;
- A property site visit by Athos to the Empire District Project in northwestern Ontario is scheduled for early September for drill program scoping and planning;
- Athos confirmed on August 13, 2026 the anticipated appointments to the Board of Directors for the resulting issuer; and
- In August, Athos submitted its Filing Statement to the TSXV for its proposed Go-Public Transaction with Meed Growth Corp.
Follow-up drilling using the results from the VTEM+ airborne survey completed in May 2026 is the second, and final, exploration milestone for the proposed Empire Transaction. That drilling is anticipated for later this fall, once final data from the airborne survey is received and integrated with existing project data in order to prioritize specific drill targets.
VR and Athos have agreed to extend the outside date for completion of the Empire Transaction to September 30, 2026, and to increase the cash consideration payable on closing by Athos to VR from $200,000 to $250,000. Pursuant to the terms of the definitive Agreement for the Empire Transaction, and following the Go Public Transaction, VR will hold approximately 9.9% of the listed issuer's issued and outstanding shares, among other considerations paid in respect of the Transaction. VR received conditional acceptance of the proposed transaction from the TSXV on April 23, 2026.
Dr. Michael Gunning, Chief Executive Officer of the Company, commented: "We are pleased to see the Empire exploration strategy and transaction continue to move forward. We believe in the copper-nickel-PGM-gold potential, and our 9.9% ownership position in Athos will provide the Company with significant exposure to the upside potential of this district-scale project that we initiated two years ago.
Further, that upside potential is near-term. With the VTEM+ airborne survey now complete, follow-up drilling is anticipated for later this fall, based on an ongoing integration of an ever-expanding array of the project database in order to prioritize drill targets.
We look forward to providing further updates as we progress towards Close."
TECHNICAL INFORMATION
Technical information disclosed by the Company has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Technical information contained in this document, and on the Company's website, has been reviewed and approved on behalf of the Company by the President & CEO, Dr. Michael Gunning, PhD, P.Geo., a non-independent Qualified Person.
ABOUT VR Resources Ltd.
VR is an established junior exploration company based in Vancouver, British Columbia. VR evaluates, explores and advances opportunities in copper, gold and critical metals in Nevada, USA, and Ontario, Canada. VR applies modern exploration technologies, in-house experience and expertise in greenfields exploration to large-footprint mineral systems in underexplored areas/districts. The foundation of VR is the proven track record of its Board in early-stage exploration, discovery and M&A. VR owns its projects outright and evaluates new opportunities on an ongoing basis, whether by staking or acquisition. For more detailed information on the Corporation and its mineral exploration projects, please visit the Company's website at www.vrr.ca.
ABOUT ATHOS METALS
Athos Metals Corp. is a Canadian mineral exploration company identifying and advancing critical minerals prospects in Canada. Athos' initial focus is the 15,150-hectare Empire District Project, a district-scale Cu–Ni–PGE–Au exploration opportunity in the Marmion Terrane of northwestern Ontario with demonstrated mineralization and discovery potential. On June 3, 2026, Athos announced a definitive merger agreement with Meed Growth Corp. (TSXV: MEED.P), a Capital Pool Company listed on the TSXV that is expected to result in Athos becoming a publicly listed company in the coming months. For more information on Athos, please visit: www.athosmetals.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Michael H. Gunning
President & CEO
| For general information please use the following: | |
| Website: | www.vrr.ca |
| Email: | info@vrr.ca |
| Phone: | 778-731-9292 |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements concerning the completion of the Sale Agreement for the Company's Empire Project in Ontario, timing of planned follow-up exploration following the VTEM+ airborne survey, the timing of any public listing for Athos Metals Corp., and all other statements that are not statements of historical fact.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with: the ability to satisfy the conditions to completing the Transaction; the ability to close the Transaction; general economic conditions; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada; the ability of the Company to execute its strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review them.
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