Clarity Enters Agreement to Acquire Idaho Copper Project
Clarity plans to acquire 80% of Idaho’s Bobcat copper project through a 20 million-unit share-and-warrant deal, subject to CSE approval.
Rhea-AI Summary
Clarity Metals (CLGCF) agreed on September 22, 2026 to acquire an 80% interest in the Bobcat copper project in Lemhi County, Idaho, from BG Copper Corp. via a mineral claims purchase agreement. The remaining 20% is held by Kluane Capital FZCO and Cloudbreak Discovery PLC as 10% carried interests each, remaining carried until a positive pre-feasibility study, after which the parties intend to form a joint venture to develop the property.
As consideration, Clarity will issue 20,000,000 units at a deemed price of $0.05 per unit, each consisting of one share and a five-year warrant exercisable at $0.10. The shares will carry a four month and one day hold period, and no finders’ fees will be paid. Closing is subject to customary conditions and Canadian Securities Exchange approval, with completion expected in September 2026.
The Bobcat Project comprises 50 unpatented lode claims over about 418.63 hectares, hosting a copper porphyry system with historic drilling that reported intervals such as 100.13 m grading 0.36% Cu in hole BC‑1 and other copper mineralization at depth and near surface.
Positive
- 80% interest in Bobcat copper project acquired via share-based deal
- Consideration is 20,000,000 units at a deemed $0.05 per unit
- Each unit includes a five-year warrant exercisable at $0.10
- Bobcat covers 50 claims over about 418.63 ha in Idaho
- Historic hole BC‑1 reported 100.13 m of 0.36% Cu from 74.83 m
Negative
- Issuance of 20,000,000 new units implies material share dilution for existing holders
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2026) - Clarity Metals Corp. (CSE: CMET) (OTC Pink: CLGCF) (FSE: 27G0) ("Clarity" or the "Company"), a Canadian mineral exploration company focused on the acquisition, exploration, and development of precious and base metals projects, announces that it has entered into a mineral claims purchase agreement (the "Agreement") dated September 22, 2026 with BG Copper Corp. (the "Vendor"), an arm's length party, pursuant to which Clarity agreed to purchase (the "Acquisition") an
Project Highlights:
Historic mapping indicates a large alteration footprint indicative of a porphyry system.
Historic drill results including 100.13m containing
0.36% Copper from 74.83m in DDH BC-1.Including 32.01m of
0.57% Copper from 134.11m1
Lang Mine - 1930s underground gold producer (~5,000 oz reported) on a north-south shear on Napoleon Ridge, with a 6m chip sample in the crosscut returned 1.55g/t Au; the structure is untested at depth.2
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Pursuant to the Agreement, Clarity has agreed to issue to the Vendor 20,000,000 units (each, a "Unit") with a deemed price of
Closing of the Acquisition remains subject to, without limitation, receiving all necessary consents and approvals, including the approval of the Canadian Securities Exchange (the "CSE"), as well as the satisfaction of customary closing conditions. Clarity expects to complete the Acquisition in September, 2026.
About the Bobcat Project
Located 20km north of Salmon, Idaho, centrally located near the northern border with Montana, the Property comprises 50 unpatented lode mining claims covering approximately 418.63 hectares in Lemhi County, Idaho, within the Salmon-Challis National Forest. The Property hosts a copper porphyry system associated with an Eocene intrusive complex. To date, two mineralized centres have been identified, across a district-scale alteration footprint. Historic exploration by Cominco American, Corona and BHP between 1977 and the mid-1990s included geological mapping, soil and rock geochemistry, induced polarization surveying and diamond drilling, which confirmed copper mineralization at surface and at depth, including a potential zone of supergene chalcocite enrichment. Surface sampling completed in 2019 confirmed widespread porphyry-style alteration and copper mineralization across the Property. Portions of the system, including copper mineralization exposed on the western flank of Napoleon Ridge, remain untested by drilling.
Highlights of historic work includes drilling conducted by Cominco American Incorporated between 1977 and 1981 tested the Bobcat Gulch porphyry system with five widely spaced diamond drill holes totaling approximately 6,549 feet (1,996 m). Reported results include 100.13m of
Additional work conducted on the Property includes soil and rock sampling, ground IP and EM surveys and drilling was completed on the Property by subsequent operators through the mid-1990s. The Property also contains the Lang Mine, which is a historic underground operation on the east side of Napoleon Ridge. Developed in the 1930s with a 30m crosscut and a 180m drift and several stope levels on a north-south trend and westerly dipping bedding-plane shear; reported production approximately 5,000 oz gold4.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Mr. Rory Kutluoglu, B.Sc., P.Geo., a "Qualified Person" as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Kutluoglu is a Professional Geologist registered with Engineers and Geoscientists British Columbia (EGBC) and a Fellow of both the Society of Economic Geologists and Geological Society of London.
About Clarity Metals Corp.
Clarity Metals Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of precious and base metals projects. Clarity's exploration mandate is global and focused on countries with established legal and regulatory systems supporting mining investment. The Company's flagship asset is the Fecteau Gold Project, covering approximately 5,247.47 hectares in Québec's Abitibi Greenstone Belt, situated proximal to Gold Fields' Windfall Lake Camp (formerly Osisko Mining Inc.) and Bonterra Resources' projects. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol "CMET".
To learn more about Clarity Metals Corp. and its projects, please visit www.claritymetals.com.
ON BEHALF OF THE BOARD
"Timothy Ko"
Timothy Ko
Chief Executive Officer
Tel: (604) 562-3932
Email: info@claritymetals.com
Website: www.claritymetals.com
The historic drill results disclosed above are derived from historical documentation prepared by prior operators. The Qualified Person has not independently verified the sampling, analytical or security procedures used, and the Company has not been able to review the original assay certificates or verify the drill hole collar locations, downhole surveys or core recovery. Reported intervals represent drilled core lengths; true widths are not known. The Company considers the historic drill results to be relevant in guiding future exploration but cautions that they should not be relied upon.
Forward-Looking Statements
This news release contains forward‐looking statements and forward‐looking information (collectively, "forward‐looking statements") within the meaning of applicable Canadian legislation. Forward‐looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. All statements in this news release that are not purely historical are forward‐looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future, Clarity and the Vendor obtaining all required consents and approvals for the Acquisition, Clarity and the Vendor's ability to close the Acquisition and Clarity's ability to obtain a positive pre-feasibility study and proceed with a joint venture of the Property. Although Clarity believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, Clarity can give no assurance that such expectations will prove to be correct. In making the forward‐looking statements in this news release, Clarity has applied several material assumptions, including without limitation, that market fundamentals will support the viability of mineral resource exploration, the availability of the financing required for Clarity to carry out their planned future activities, including exploration on the Property in an effort to obtain a pre-feasibility study, and the availability of and the ability to retain and attract qualified personnel. Other factors may also adversely affect the future results or performance of Clarity, including general economic, market or business conditions, future prices of minerals, changes in the financial markets and in the demand for minerals, changes in laws, regulations and policies affecting the mineral exploration industry, as well as the risks and uncertainties which are more fully described in Clarity's annual and quarterly management's discussion and analysis and in other filings made by Clarity with Canadian securities regulatory authorities under Clarity's SEDAR+ profile. Ongoing labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflicts in Ukraine, Palestine, the Middle East, Iran and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact Clarity's operating performance, financial position, and future prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward‐looking statements will occur or, if they do occur, what benefits Clarity will obtain from them. Readers are cautioned that forward‐looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty of such statements. Clarity does not undertake any obligation to update such forward‐looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
1 Bunning and Burnet, 1981 Copper-Moolybdenum Mineralization in the Bobcat Gulch Porphyry System Lemhi County, Idaho and the original drill logs
2 Tregaskis, 1989 Bobcat Project, Lemhi CO, Idaho. Year End Summary: vol. 1
3 Bunning and Burnet, 1981 Copper-Moolybdenum Mineralization in the Bobcat Gulch Porphyry System Lemhi County, Idaho and the original drill logs
4 Tregaskis, 1989 Bobcat Project, Lemhi CO, Idaho. Year End Summary: vol. 1
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FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How is the remaining 20% interest in the Bobcat Project structured?
The remaining 20% is owned by Kluane Capital FZCO and Cloudbreak Discovery PLC, each holding a 10% carried interest in the property until Clarity obtains a positive pre-feasibility study concluding that development is technically feasible and economically viable. After that, the parties intend to form a joint venture to develop the property.
What are the detailed terms of the units and warrants issued to BG Copper?
Clarity will issue 20,000,000 units, each consisting of one common share and one warrant. Each warrant entitles the holder to acquire one additional share at an exercise price of $0.10 for a period of five years from closing. The shares will be subject to a statutory hold period of four months and one day from issuance.
What conditions must be met before the acquisition of the Bobcat Project closes?
Closing of the acquisition is subject to receiving all necessary consents and approvals, including approval of the Canadian Securities Exchange, and the satisfaction of customary closing conditions. Clarity expects to complete the acquisition in September 2026.
Where is the Bobcat Project located and what historic work has been completed?
The Bobcat Project is located about 20 km north of Salmon, Idaho, within the Salmon-Challis National Forest, and comprises 50 unpatented lode claims covering approximately 418.63 hectares. Historic work by operators including Cominco American, Corona and BHP from 1977 to the mid‑1990s included geological mapping, soil and rock geochemistry, IP and EM surveys, and diamond drilling that confirmed copper mineralization at surface and depth. Reported intervals include 100.13 m of 0.36% Cu in BC‑1, 44.20 m of 0.27% Cu in BC‑2, and 2.44 m of 1.02% Cu in BC‑5.
How does Clarity characterize the reliability of the historic drill results at Bobcat?
The historic drill results are derived from historical documentation prepared by prior operators. The Qualified Person has not independently verified the sampling, analytical or security procedures, and the company has not been able to review original assay certificates or verify drill collar locations, downhole surveys or core recovery. The results are considered relevant for guiding future exploration, but Clarity cautions that they should not be relied upon.