Abitibi Metals Secures 100% Ownership of the B26 Deposit and Establishes a District Scale Consolidation Platform Across the Selbaie Camp
Rhea-AI Summary
Abitibi Metals (OTCQB: AMQFF) agreed to acquire SOQUEM's remaining 20% of the B26 Polymetallic Deposit, securing 100% ownership. Consideration includes C$5 million cash (within 90 days), C$2 million in shares, plus C$6 million at feasibility and C$6 million at construction milestones.
The B26 Deposit hosts a 2026 resource of 13.0 Mt at 2.1% CuEq (Indicated) and 12.4 Mt at 2.2% CuEq (Inferred), a 124% increase since 2023. SOQUEM keeps a 1% NSR royalty. Abitibi also gains a 10‑year ROFR on Wagosic and Carheil, creating a district-scale consolidation platform in the Selbaie Camp.
Positive
- Abitibi secures 100% ownership of B26, removing joint-venture constraints
- B26 resource totals 25.3 Mt with 124% growth since 2023 option
- Initial consideration limited to about C$7 million, with later staged milestone payments
- SOQUEM royalty simplified to a 1% NSR on the B26 Project
- Abitibi obtains a 10-year ROFR on Wagosic and Carheil properties
- Joint technical committee enables coordinated advancement of B26 and Wagosic
Negative
- Future milestone obligations total up to C$12 million over five years
- Missing milestones can add up to 1% extra NSR and reduce Abitibi's project interest by up to 12%
News Market Reaction – AMQFF
In the Jun 11 session, AMQFF gained 12.15%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Transaction provides full ownership of one of Quebec's largest undeveloped polymetallic deposits
Toronto, Ontario--(Newsfile Corp. - June 11, 2026) - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to announce that it has entered into a definitive agreement with SOQUEM Inc. ("SOQUEM") to acquire SOQUEM's remaining
The transaction marks a significant milestone in the Company's evolution from explorer to developer, providing full ownership and control of one of Quebec's largest undeveloped high-grade polymetallic deposits while simultaneously establishing a long-term pathway toward broader consolidation opportunities across the Selbaie Mining Camp.
The B26 Deposit hosts a 2026 updated resource estimate comprising 13.0 million tonnes grading
Transaction Highlights
- Full project consolidation: Abitibi becomes sole owner of B26, eliminating joint-venture complexity and securing unencumbered control at a critical development inflection point, with the deposit remaining open both laterally and at depth
- Capital-disciplined transaction structure: Initial consideration of approximately C
$7 million , with milestones payments structured across feasibility and construction decision stages, preserving near-term capital flexibility and aligning cost directly with value creation - Simple, clean royalty structure: SOQUEM will retain a
1% net smelter return (NSR) royalty - Benefits of
100% Ownership:- Full exposure to future resource growth and project economics
- Simplified project governance and decision-making
- Enhanced flexibility for financing and strategic partnerships
- Greater control over infrastructure and development planning
- Increased ability to evaluate regional consolidation opportunities
- District-scale consolidation pathway: Secures a 10-year Right of First Refusal on SOQUEM's wholly-owned Wagosic and Carheil properties, positioning Abitibi as the logical consolidator of the broader Selbaie Camp
- Immediate collaborative framework established: A joint technical committee will be formed with SOQUEM to advance both B26 and Wagosic concurrently, with initial metallurgical test work on blended material representing the first step toward evaluating combined development scenarios
"Securing
Equally important, this agreement establishes a strategic framework for future consolidation opportunities across the Selbaie Camp. We believe B26 has the potential to become the cornerstone asset of a much larger regional development platform, and this transaction positions us to evaluate those opportunities from a position of strength.
We are grateful to SOQUEM for their partnership and the foundational work they have done at B26. Without their exploration efforts and stewardship of the deposit, Abitibi would not be in the position it is today."
Under the definitive agreement, the parties have established a framework that provides Abitibi Metals with the opportunity to acquire the remaining
- Upon closing of the transaction:
- C
$5 million in cash, payable within 90 days of closing and subject to reduction by an amount equal to20% of the additional exploration expenditures incurred by Abitibi on the B26 Project that are attributable to SOQUEM's interest, thereby offsetting amounts owing by SOQUEM under the joint venture; and - C
$2 million in Abitibi Metals shares.
- C
- Milestone 1 - At the feasibility study stage, or no later than three (3) years following the closing date:
- C
$6 million payable50% in cash and50% in shares.
- C
- Milestone 2 - At the construction decision stage, or no later than five (5) years following the closing date:
- C
$6 million payable50% in cash and50% in shares.
- C
In consideration for the transfer of the remaining interest, SOQUEM will retain a
If a milestone payment is not made by the applicable deadline, SOQUEM will receive an additional NSR royalty and a re-acquired equity interest in the B26 Project, and a joint venture will be re-formed between the parties. A default at the feasibility study stage (3-year milestone) results in an additional
Potential Consolidation of the Selbaie Camp:
The B26 Deposit is located within the prolific Selbaie Mining Camp of northwestern Quebec, a district that has historically supported significant base metal production and contains multiple underexplored mineral systems. In addition to acquiring the remaining
To further strengthen collaboration between the parties, a joint technical committee will be established to collaboratively advance both the B26 and Wagosic projects. Initial metallurgical test work involving blended material from the two projects will represent one of the first steps in evaluating potential additional synergies and future collaborative opportunities.
Qualified Person
Information contained in this press release was reviewed and approved by Louis Gariépy, P.Eng. (OIQ #107538), VP Exploration of Abitibi Metals, who is a qualified person as defined under National Instrument 43-101, and responsible for the technical information provided in this news release.
About Abitibi Metals Corp:
Abitibi Metals Corp. is dedicated to acquiring and exploring mineral properties within Quebec, with a particular emphasis on high-quality base and precious metal assets that offer significant potential for growth and expansion.
The company's flagship B26 Polymetallic project, in a joint venture with SOQUEM (
- Indicated: 12.96Mt at
2.08% CuEq (1.19% Cu,1.16% Zn, 0.44 g/t Au and 30.8 g/t Ag) - Inferred: 12.34Mt at
2.20% CuEq (1.60% Cu,0.16% Zn, 0.68 g/t Au and 8.1 g/t Ag) .
The B26 project is strategically located just 7 km southeast of the formerly producing Selbaie Mine. This proximity provides the project with access to key infrastructure required for potential mine development.
In addition to the B26 Deposit, Abitibi's portfolio includes the Beschefer Gold project, historical drilling has identified four notable, historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 m (BE13-038) and 13.07 g/t gold over 8.75 ms (BE12-014) amongst four modelled zones. These promising findings highlight the potential for further gold discoveries within the project area.
About SOQUEM:
SOQUEM, a mineral exploration company and subsidiary of Investissement Québec, is dedicated to exploring, discovering, and developing Québec's mineral resources. Since 1965, SOQUEM has participated in hundreds of exploration projects, contributing to the development of seven producing mines. Through its collaborative and innovative approach, SOQUEM aims to make significant discoveries across a wide range of commodities that will contribute to the creation of wealth in Québec.
ON BEHALF OF THE BOARD
Jonathon Deluce, Chief Executive Officer
For more information, please call +1-226-271-5170, email info@abitibimetals.com, or visit https://www.abitibimetals.com.
The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements:
Twitter: https://twitter.com/AbitibiMetals
LinkedIn: https://www.linkedin.com/company/abitibi-metals-corp-amq-c/
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Note 1: Technical Report NI 43-101 Resource Estimation Update Project B26, Quebec, For Abitibi Metals Corp., By SGS Canada Inc., Yann Camus, ing., SGS Canada - Geostat., Effective Date: November 2025, Date of Report : January, 2026
Forward-looking statement:
This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301055