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Emperor Metals has entered into a property purchase agreement to acquire Maritime Resources’ Lac Pelletier Property in Quebec through the issuance of 12.5 million common shares (approximately 10.06% of Emperor’s outstanding shares). The Lac Pelletier Property spans 558 hectares and is located 4 km southwest of Rouyn-Noranda, adjacent to Agnico Eagles’ Wasamac Gold Deposit.
The property features historical mineral resources of 681,200 tonnes grading 4.08 g/t Au (89,400 oz) in Measured and Indicated categories, plus 1,099,000 tonnes grading 3.89 g/t Au (137,600 oz) in Inferred category. Notable features include 105,000 meters of drilling, 3.3 km of underground development, and previous bulk samples achieving 96.3% recovery. The property is subject to a 1% net smelter returns royalty to Metalla Royalty & Streaming The transaction is expected to close before March 31, 2025.
Emperor Metals ha firmato un accordo di acquisto di proprietà per acquisire la proprietà Lac Pelletier di Maritime Resources in Quebec attraverso l’emissione di 12,5 milioni di azioni ordinarie (circa il 10,06% delle azioni in circolazione di Emperor). La proprietà Lac Pelletier si estende per 558 ettari ed è situata a 4 km a sud-ovest di Rouyn-Noranda, adiacente al deposito d’oro Wasamac di Agnico Eagles.
La proprietà presenta risorse minerarie storiche di 681.200 tonnellate con un grado di 4,08 g/t Au (89.400 oz) nelle categorie Misurate e Indicate, e 1.099.000 tonnellate con un grado di 3,89 g/t Au (137.600 oz) nella categoria Inferred. Tra le caratteristiche degne di nota ci sono 105.000 metri di perforazioni, 3,3 km di sviluppo sotterraneo e campioni di massa precedenti con un recupero del 96,3%. La proprietà è soggetta a una royalty del 1% sui proventi netti di fusione a favore di Metalla Royalty & Streaming. Si prevede che la transazione si chiuda prima del 31 marzo 2025.
Emperor Metals ha firmado un acuerdo de compra de propiedad para adquirir la propiedad Lac Pelletier de Maritime Resources en Quebec mediante la emisión de 12,5 millones de acciones ordinarias (aproximadamente el 10,06% de las acciones en circulación de Emperor). La propiedad Lac Pelletier abarca 558 hectáreas y se encuentra a 4 km al suroeste de Rouyn-Noranda, adyacente al depósito de oro Wasamac de Agnico Eagles.
La propiedad presenta recursos minerales históricos de 681,200 toneladas con un grado de 4.08 g/t Au (89,400 oz) en las categorías Medidas e Indicadas, más 1,099,000 toneladas con un grado de 3.89 g/t Au (137,600 oz) en la categoría Inferida. Entre las características notables se incluyen 105,000 metros de perforación, 3.3 km de desarrollo subterráneo y muestras a granel anteriores que lograron una recuperación del 96.3%. La propiedad está sujeta a un royalty del 1% sobre los ingresos netos de fusión a favor de Metalla Royalty & Streaming. Se espera que la transacción se cierre antes del 31 de marzo de 2025.
엠페러 메탈즈는 Maritime Resources의 Lac Pelletier 자산을 1250만 주의 보통주(엠페러의 발행 주식의 약 10.06%)를 발행하여 인수하기 위한 부동산 매매 계약을 체결했습니다. Lac Pelletier 자산은 558 헥타르에 걸쳐 있으며, Rouyn-Noranda에서 남서쪽으로 4km 떨어진 곳에 위치하고 있으며, Agnico Eagles의 Wasamac 금 매장지와 인접해 있습니다.
이 자산은 측정 및 지시 카테고리에서 4.08 g/t Au (89,400 oz)의 등급을 가진 681,200톤의 역사적 광물 자원을 갖고 있으며, 추정 카테고리에서 3.89 g/t Au (137,600 oz)의 등급을 가진 1,099,000톤의 자원을 추가로 보유하고 있습니다. 주목할 만한 특징으로는 105,000 미터의 시추, 3.3km의 지하 개발 및 96.3% 회수율을 기록한 이전 대량 샘플이 있습니다. 이 자산은 Metalla Royalty & Streaming에 대한 1% 순불귀금속 수익 로열티의 적용을 받습니다. 이 거래는 2025년 3월 31일 이전에 완료될 것으로 예상됩니다.
Emperor Metals a conclu un accord d’achat de propriété pour acquérir la propriété Lac Pelletier de Maritime Resources au Québec par le biais de l’émission de 12,5 millions d’actions ordinaires (environ 10,06 % des actions en circulation d’Emperor). La propriété Lac Pelletier s’étend sur 558 hectares et se trouve à 4 km au sud-ouest de Rouyn-Noranda, adjacente au gisement d’or Wasamac d’Agnico Eagles.
La propriété possède des ressources minérales historiques de 681 200 tonnes avec une teneur de 4,08 g/t Au (89 400 oz) dans les catégories Mesurées et Indiquées, ainsi que 1 099 000 tonnes avec une teneur de 3,89 g/t Au (137 600 oz) dans la catégorie Inférées. Parmi les caractéristiques notables, on trouve 105 000 mètres de forage, 3,3 km de développement souterrain et des échantillons en vrac précédents atteignant un taux de récupération de 96,3 %. La propriété est soumise à une redevance de 1 % sur les recettes nettes de fusion au profit de Metalla Royalty & Streaming. La transaction devrait être finalisée avant le 31 mars 2025.
Emperor Metals hat eine Immobilienkaufvereinbarung unterzeichnet, um das Lac Pelletier Grundstück von Maritime Resources in Quebec durch die Ausgabe von 12,5 Millionen Stammaktien (ungefähr 10,06 % der ausstehenden Aktien von Emperor) zu erwerben. Das Lac Pelletier Grundstück umfasst 558 Hektar und befindet sich 4 km südwestlich von Rouyn-Noranda, angrenzend an das Wasamac Goldvorkommen von Agnico Eagles.
Die Immobilie verfügt über historische Mineralressourcen von 681.200 Tonnen mit einem Gehalt von 4,08 g/t Au (89.400 oz) in den Kategorien Gemessen und Angezeigt, sowie 1.099.000 Tonnen mit einem Gehalt von 3,89 g/t Au (137.600 oz) in der Kategorie Vermutet. Zu den bemerkenswerten Merkmalen gehören 105.000 Meter Bohrungen, 3,3 km unterirdische Entwicklung und frühere Bulkproben mit einer Rückgewinnung von 96,3%. Die Immobilie unterliegt einer 1 %-Royalties auf Nettoschmelzrenditen an Metalla Royalty & Streaming. Es wird erwartet, dass die Transaktion vor dem 31. März 2025 abgeschlossen wird.
Positive
- Strategic location adjacent to Agnico Eagles’ Wasamac Gold Deposit (2.2 Moz @ 2.43 g/t Au)
- Historical resource of 89,400 oz Au (M&I) and 137,600 oz Au (Inferred)
- Existing infrastructure worth $70M including 3.3 km underground development
- High recovery rate demonstrated (96.3%) from previous bulk samples
- High-grade drill intercepts (22.4m @ 7.6 g/t Au and 6.2m @ 24.8 g/t Au)
Negative
- Share dilution of 10.06% for existing shareholders
- 1% NSR royalty obligation to Metalla Royalty & Streaming
- Historical resource estimate requires verification to be considered current
Edmonton, Alberta–(Newsfile Corp. – January 7, 2025) – Emperor Metals Inc. (CSE: AUOZ) (the “Company” or “Emperor Metals“) – is pleased to announce that it has entered into a property purchase agreement dated January 7, 2025 (the “Property Purchase Agreement“) with Maritime Resources Corp. (“Maritime“) and its affiliate to acquire all of Maritime’s undersurface rights and interests in the Lac Pelletier Property, Quebec (the “Lac Pelletier Property” or the “Property“), in consideration of the issuance to Maritime of 12,500,000 common shares of Emperor Metals (representing approximately 10.06% of the Company’s current total issued and outstanding shares). The closing of the Property Purchase Agreement is subject to certain conditions customary for transactions of this nature, including no objection from the Canadian Securities Exchange.
The Lac Pelletier Property comprises 25 mining claims and a mining lease covering a total area of at least 558 hectares and is located approximately 4 km southwest of the city of Rouyn-Noranda, Quebec. The Property is located adjacent to and contiguous with Agnico Eagles’ advanced exploration project known as their Wasamac Gold Deposit (Measured and Indicated: 2.2 Moz @ 2.43 g/t Au and Inferred: 0.8 Moz Au @ 2.66 g/t Au). These properties share the Wasamac Shear Zone that Agnico Eagle views as good potential to host additional discoveries (see Agnico Eagles’ website referencing its Exploration Projects: Wasamac).
The Lac Pelletier Property currently has an historical estimated mineral resource of 681,200 tonnes grading @ 4.08 g/t Au for 89,400 oz (total Measured and Indicated), and Inferred mineral resources of 1,099,000 tonnes grading @ 3.89 g/t Au for 137,600 oz Au (see Maritime’s press release dated May 11, 2022 as posted on SEDAR+). The historical estimate was calculated using modern statistical methods and uses classification categories that are compliant with current Canadian Institute of Mining and Metallurgy definition standards (2014) and best practices guidelines (2019). However, the estimate was completed on behalf of another issuer. In addition, Emperor’s “qualified person” has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and Emperor, therefore, is not treating the historical estimate as current mineral resources or mineral reserves. No material work has been performed on the Property since the date of the Maritime press release, and Emperor does not anticipate significant work will be required to update or verify the historical estimate as current mineral resources or mineral reserves in future.
Several key factors make this an attractive acquisition:
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The historical mineral resource is contained in several zones of mineralization.
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105,000 meters of drilling has been completed (both above ground and underground).
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Over 3.3 km of underground development is in place, including portal, and vent raise with only limited bulk sample mining.
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Two (2) bulk samples (2009-2010) with an average recovery of 96.3% (2,950 oz Au recovered @ 4.35 g/t Au).
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Potential for both robust thickness and high-grade resource expansion with diamond drill hole intercepts of 22.4 m of 7.6 g/t Au and 6.2 m of 24.8 g/t Au.
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Very close to infrastructure in area; within the Rouyn municipal limits.
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Potential pre-production scenario for Emperor Metals.
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Estimated +$70 Million dollars in prior expenditures on infrastructure and drilling on site (today’s terms).
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Significant potential to expand gold resources.
The Property is subject to a one percent (1.0%) net smelter returns royalty reserved to Metalla Royalty & Streaming Ltd. pursuant to an underlying royalty agreement. It is expected that the transaction will close before March 31, 2025.
Emperor Metals welcomes Maritime as a significant shareholder. We look forward to unlocking significant value on this project for both companies.
The technical information in this press release has been reviewed by John Florek, P. Geo., President & CEO of Emperor Metals, and the Company’s “qualified person” as defined under NI 43-101 Standards of Disclosure for Mineral Projects.
About Emperor Metals Inc.
Emperor Metals Inc. is a mineral exploration company focused mineral exploration in Canada, and on proving the potential of the Pine Grove and other early-stage gold projects located near the Hemlo Gold Mine within the western portion of the prolific Wawa-Abitibi Gold Belt of Ontario, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Florek”
John Florek,
Chief Executive Officer
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
CERTAIN STATEMENTS MADE AND INFORMATION CONTAINED HEREIN MAY CONSTITUTE “FORWARD-LOOKING INFORMATION” AND “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF APPLICABLE CANADIAN AND UNITED STATES SECURITIES LEGISLATION. THESE STATEMENTS AND INFORMATION ARE BASED ON FACTS CURRENTLY AVAILABLE TO THE COMPANY AND THERE IS NO ASSURANCE THAT ACTUAL RESULTS WILL MEET MANAGEMENT’S EXPECTATIONS. FORWARD-LOOKING STATEMENTS AND INFORMATION MAY BE IDENTIFIED BY SUCH TERMS AS “POTENTIAL”, “ANTICIPATES”, “BELIEVES”, “TARGETS”, “ESTIMATED”, “PLANS”, “EXPECTS”, “MAY”, “WILL”, “COULD” OR “WOULD”.
FORWARD-LOOKING STATEMENTS AND INFORMATION CONTAINED HEREIN ARE BASED ON CERTAIN FACTORS AND ASSUMPTIONS REGARDING, AMONG OTHER THINGS, THE ESTIMATION OF MINERAL RESOURCES AND RESERVES, THE REALIZATION OF RESOURCE AND RESERVE ESTIMATES, METAL PRICES, TAXATION, THE ESTIMATION, TIMING AND AMOUNT OF FUTURE EXPLORATION AND DEVELOPMENT, CAPITAL AND OPERATING COSTS, THE AVAILABILITY OF FINANCING, THE RECEIPT OF REGULATORY APPROVALS, ENVIRONMENTAL RISKS, TITLE DISPUTES AND OTHER MATTERS. WHILE THE COMPANY CONSIDERS ITS ASSUMPTIONS TO BE REASONABLE AS OF THE DATE HEREOF, FORWARD-LOOKING STATEMENTS AND INFORMATION ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON SUCH STATEMENTS AS ACTUAL EVENTS AND RESULTS MAY DIFFER MATERIALLY FROM THOSE DESCRIBED HEREIN. THE COMPANY DOES NOT UNDERTAKE TO UPDATE ANY FORWARD-LOOKING STATEMENTS OR INFORMATION EXCEPT AS MAY BE REQUIRED BY APPLICABLE SECURITIES LAWS.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236356
FAQ
What is the acquisition cost for Emperor Metals (EMAUF) Lac Pelletier Property?
Emperor Metals is acquiring the Lac Pelletier Property through the issuance of 12.5 million common shares, representing approximately 10.06% of the company’s current outstanding shares.
What are the historical gold resources at Emperor Metals’ (EMAUF) Lac Pelletier Property?
The Lac Pelletier Property has historical resources of 681,200 tonnes grading 4.08 g/t Au (89,400 oz) in Measured and Indicated categories, plus 1,099,000 tonnes grading 3.89 g/t Au (137,600 oz) in Inferred category.
When will Emperor Metals (EMAUF) close the Lac Pelletier acquisition?
The acquisition is expected to close before March 31, 2025, subject to customary conditions including no objection from the Canadian Securities Exchange.
What infrastructure exists at Emperor Metals’ (EMAUF) Lac Pelletier Property?
The property has approximately $70 million worth of infrastructure, including 3.3 km of underground development, a portal, vent raise, and 105,000 meters of drilling.
What are the royalty obligations for Emperor Metals (EMAUF) at Lac Pelletier?
The property is subject to a 1% net smelter returns royalty payable to Metalla Royalty & Streaming
