BeMetals Signs Definitive Agreement to Acquire Option on Savant Gold Project in Ontario
BeMetals (OTCQB:BMTLF) has signed a definitive option agreement with Prospector Metals to acquire up to 100% interest in the Savant Gold Exploration Project in northwestern Ontario, Canada. The project spans 232 km² of underexplored terrain near major gold producers like Musselwhite and Red Lake mines.
Under the agreement terms, BeMetals must commit to C$500,000 in exploration spending within the first year and annually thereafter. Ownership structure will be determined by resource discovery metrics: 500,000+ oz of gold in Inferred category leads to a 50/50 joint venture, while 1,000,000+ oz with minimum 500,000 oz in Indicated category grants BeMetals 100% ownership. A success payment of US$5/oz of gold and a 0.5% NSR royalty will be paid to Prospector upon 100% acquisition.
BeMetals (OTCQB:BMTLF) ha firmato un accordo di opzione definitivo con Prospector Metals per acquisire fino al 100% del Savant Gold Exploration Project nel nord-ovest dell'Ontario, Canada. Il progetto copre 232 km² di territorio poco esplorato vicino a importanti produttori d'oro come le miniere Musselwhite e Red Lake.
Secondo i termini dell'accordo, BeMetals dovrà impegnare C$500,000 in spese di esplorazione nel primo anno e continuare con lo stesso impegno annualmente. La struttura proprietaria sarà determinata dai risultati di scoperta delle risorse: una scoperta di 500.000+ oz d'oro nella categoria Inferred darà luogo a una joint venture 50/50, mentre una scoperta di 1.000.000+ oz con almeno 500.000 oz in categoria Indicated conferirà a BeMetals la proprietà al 100%. Al completamento dell'acquisizione al 100% sarà corrisposto a Prospector un pagamento di successo di US$5/oz d'oro e una royalty NSR dello 0,5%.
BeMetals (OTCQB:BMTLF) ha firmado un acuerdo de opción definitivo con Prospector Metals para adquirir hasta el 100% del Savant Gold Exploration Project en el noroeste de Ontario, Canadá. El proyecto abarca 232 km² de terreno poco explorado cerca de grandes productores de oro como las minas Musselwhite y Red Lake.
Según los términos del acuerdo, BeMetals debe comprometer C$500,000 en gastos de exploración durante el primer año y anualmente a partir de entonces. La estructura de propiedad se determinará según los resultados de descubrimiento de recursos: 500,000+ oz de oro en la categoría Inferred dará lugar a una empresa conjunta 50/50, mientras que 1,000,000+ oz con un mínimo de 500,000 oz en la categoría Indicated otorgará a BeMetals la propiedad del 100%. Al completar la adquisición del 100% se pagará a Prospector un pago por éxito de US$5/oz de oro y una regalía NSR del 0,5%.
BeMetals (OTCQB:BMTLF)는 Prospector Metals와 캐나다 온타리오 북서부에 위치한 Savant Gold Exploration Project의 최대 100% 지분을 인수하기 위한 확정 옵션 계약을 체결했습니다. 해당 프로젝트는 Musselwhite 및 Red Lake 등 주요 금 생산지 인근의 탐사가 부족한 232 km² 지역을 포함합니다.
계약 조건에 따라 BeMetals는 첫 해에 C$500,000의 탐사비를 지출하고 이후 매년 동일 금액을 투자해야 합니다. 소유 구조는 자원 발견 규모에 따라 결정됩니다: Inferred 범주에서 500,000+ oz의 금이 확인되면 50/50 합작법인이 성립되고, 총 1,000,000+ oz 이상이며 그중 최소 500,000 oz가 Indicated 범주에 해당하면 BeMetals가 100% 소유권을 획득합니다. 100% 인수 시 Prospector에는 온스당 US$5/oz의 성공 보수와 0.5% NSR 로열티가 지급됩니다.
BeMetals (OTCQB:BMTLF) a signé un accord d'option définitif avec Prospector Metals pour acquérir jusqu'à 100% du Savant Gold Exploration Project dans le nord-ouest de l'Ontario, Canada. Le projet couvre 232 km² de terrain peu exploré à proximité de grands producteurs d'or tels que les mines Musselwhite et Red Lake.
Selon les termes de l'accord, BeMetals doit s'engager à dépenser C$500,000 en exploration la première année, puis annuellement par la suite. La structure de propriété sera déterminée par les résultats de découverte des ressources : 500,000+ oz d'or en catégorie Inferred entraîneront une coentreprise 50/50, tandis que 1,000,000+ oz avec au moins 500,000 oz en catégorie Indicated conféreront à BeMetals la propriété à 100%. Lors de l'acquisition à 100%, Prospector recevra un paiement de succès de US$5/oz d'or et une redevance NSR de 0,5%.
BeMetals (OTCQB:BMTLF) hat eine endgültige Optionsvereinbarung mit Prospector Metals unterzeichnet, um bis zu 100% am Savant Gold Exploration Project im Nordwesten Ontarios, Kanada, zu erwerben. Das Projekt erstreckt sich über 232 km² wenig erforschtes Gelände in der Nähe großer Goldproduzenten wie den Minen Musselwhite und Red Lake.
Nach den Vertragsbedingungen muss BeMetals innerhalb des ersten Jahres C$500,000 für Exploration ausgeben und anschließend jährlich investieren. Die Eigentumsverhältnisse richten sich nach den entdeckten Ressourcen: 500.000+ oz Gold in der Kategorie Inferred führt zu einem 50/50-Joint-Venture, während 1.000.000+ oz mit mindestens 500.000 oz in der Kategorie Indicated BeMetals das 100%-Eigentum einräumt. Bei einer vollständigen Übernahme zahlt BeMetals an Prospector eine Erfolgszahlung von US$5/oz Gold sowie eine 0,5% NSR-Royalty.
- None.
- Significant capital commitment required with C$500,000 annual exploration spending
- Success-based payments could be substantial if large resource is discovered
- Project is still in early exploration stage with no defined resources
VANCOUVER, BC / ACCESS Newswire / August 12, 2025 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(Frankfurt:1OI.F) ("BeMetals" or the "Company") is pleased to announce that it has signed a definitive option agreement (the "Agreement") with Prospector Metals Corp. (TSXV:PPP)(OTCQB:PMCOF)(Frankfurt:1ET0) ("Prospector") to acquire up to a
This definitive agreement formalizes the terms set out in the non-binding Letter of Intent (LOI) previously announced on July 10, 2025. The Savant Project covers approximately 232 km² of underexplored terrain with favorable iron formation geology, situated near major past and present producers including the Musselwhite and Red Lake gold mines.
John Wilton, President and CEO of BeMetals, stated:
"The Savant Gold Exploration Project is underexplored and hosts compelling geological features that highlight its discovery potential. We are pleased to have signed this definitive agreement for the Project with the highly experienced Prospector team, marking an important step in the Property's potential advancement. We recognize the importance of responsible mineral exploration and look forward to working closely with Prospector on this exciting exploration project and building along with their respectful engagement with First Nation communities and other stakeholders in the region."
Under the Agreement, BeMetals has the exclusive option to earn up to a
Initial Commitment:
BeMetals will spend at least C$500,000 on exploration within first year of signing the definitive agreement.Annual Expenditures:
BeMetals must spend C$500,000 annually on exploration, with the option to accelerate spending.NI 43-101 Technical Report Supported Mineral Resources & Ownership:
BeMetals will provide a NI 43-101 compliant Technical Report to support the mineral resources to determine the following ownership criteria:<500,000 ounces ("oz") of gold: Prospector retains
100% of the Project500,000 or more oz of gold in the Inferred resource category: a 50/50 joint venture to be formed
≥1,000,000 oz of gold with ≥500,000 in the Indicated resource category: BeMetals acquires
100% ownership of the Project
Success-Based Payment:
BeMetals will pay Prospector US$5 /oz of gold in the mineral resource supported by the Technical Report.NSR Royalty:
If BeMetals acquires100% ownership of the Project, a0.5% NSR royalty will be granted to Prospector.
BeMetals expects to work closely with Prospector Metals in the coming weeks to design the 2025 exploration program with the aim to identify and prioritize drill targets for subsequent initial drilling campaign in 2026.
About BeMetals Corp.
BeMetals is a precious and base metals exploration and development company focused on advancing its portfolio of high-potential mineral projects. BeMetals is an affiliate company of B2Gold Corp. which currently owns approximately
ON BEHALF OF BEMETALS CORP.
"John Wilton"
John Wilton
President, CEO & Director
For further information, please contact:
Derek Iwanaka
Vice President, Investor Relations & Corporate Development
Telephone: +1-604-928-2797
Email: diwanaka@bemetalscorp.com
Website: www.bemetalscorp.com
Neither the 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 this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to future exploration, development and advancement of the Savant Gold Project in Canada, the Kazan Gold Projects in Japan and the Pangeni Copper Project in Zambia, and the acquisition of additional base and/or precious metal projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: the actual results of exploration activities, the availability of financing and/or cash flow to fund the current and future plans and expenditures, the ability of the Company to satisfy the conditions of the option agreement for the Pangeni Project, and changes in the world commodity markets or equity markets. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company's most recent filings under its profile at www.sedarplus.ca for further information respecting the risks affecting the Company and its business.
SOURCE: BeMetals Corp.
View the original press release on ACCESS Newswire
FAQ
What are the key terms of BeMetals (BMTLF) Savant Gold Project acquisition?
Where is the Savant Gold Project located and what is its size?
What are the resource thresholds for BeMetals to acquire ownership in Savant?
When will BeMetals begin exploration at the Savant Gold Project?
