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Aeternum (OTC: AETN) has appointed John M. Melkon to its board of directors and engaged him as a consultant, effective immediately. Melkon is a thirty‑year veteran of U.S. national security and critical material supply‑chain negotiations, with extensive experience in Europe, Africa, the Middle East and Asia.
He has held senior roles at the United States Military Academy, where he directed and helped build the Critical Minerals Consortium, and previously served as an Army Special Forces Officer and strategic operations advisor. According to Aeternum, his expertise in government negotiations in frontier regions and understanding of critical material supply chains aligns with the company’s strategy to become a key U.S. supplier of tin, niobium, tantalum and other critical minerals, supported by its Nigerian mining project and optioned interest in a cobalt‑nickel‑manganese project in Cameroon.
Aeternum (OTC: AETN) has acquired from Manaslu LLC an option to purchase a 51% stake in American Renaissance Minerals (ARM), sponsor of the Nkamouna cobalt-nickel-manganese project in Cameroon. Consideration consists of 50,000,000 common shares and 2,000,000 Series B preferred shares, each Series B share carrying the voting power of 40 common shares.
ARM is working with the Government of Cameroon toward a new mining permit under the December 2023 Mining Code, which includes a 10% free-carried state interest. In January 2026, ARM licensed all historical technical information on Nkamouna from Geovic and obtained a release of Geovic’s claims, allowing a future permit to be issued free of prior encumbrance. Aeternum will contribute capital and engineering expertise and plans, with ARM, to build an on-site concentrator. A historical estimate prepared by a prior owner reported 323 million tonnes with specified cobalt, nickel and manganese grades, but Aeternum and ARM are not treating this as a current mineral resource and give no assurance it will be confirmed.
Aeternum Health (OTC: AETN) will change its name to Aeternum Resources and shift its strategy to becoming a strategic supplier of critical minerals, primarily serving U.S. customers. The company appointed Paul E. Mann as President and Executive Chairman and Josua Oosthuizen as Chief Executive Officer, both effective July 31, 2026.
Aeternum has raised over $4 million via a promissory note from Mann and related entities to advance a tin, niobium and tantalum project in Nigeria’s Jos Plateau. Phase 1, running to about February 2027, includes a gravity separation plant with roughly 90 tonnes per hour capacity, infrastructure build‑out and initial commercial production. The plant was manufactured in 2Q 2026 and is expected to be installed by 4Q 2026.
Shareholders approved an increase in authorized capital to 500,000,000 common and 10,000,000 preferred shares, the exchange of $1.5 million of debt for 75,000,000 common shares at $0.02, and a 1:20 reverse stock split, with no fractional shares issued and rounding up applied.