Edison Lithium Provides Update on Proposed Acquisition of Joutel North-West and Gagne Gold Properties
Rhea-AI Summary
Edison Lithium (OTC Pink: EDDYF; TSXV: EDDY; FSE: VV0) provided an update on its February 27, 2026 option agreement with Globex Mining Enterprises, under which Edison may earn a 100% interest in the Joutel North-West gold property and the Gagne gold-copper property, subject to a 3% Gross Metal Royalty retained by Globex and a right of first refusal for Edison on that royalty.
An independent NI 43-101 technical report on the properties, effective July 8, 2026, has been finalized and the TSX Venture Exchange’s geologist now considers it complete. This marks another step in the Exchange’s review, but the proposed transaction still requires final Exchange acceptance and satisfaction of remaining closing conditions.
Positive
- Option to earn 100% interest in Joutel North-West and Gagne properties, subject to conditions
- NI 43-101 technical report on the properties completed and accepted as complete by Exchange geologist
- Right of first refusal for Edison on purchase of all or part of the 3% Gross Metal Royalty
Negative
- 3% Gross Metal Royalty on the properties retained by Globex Mining Enterprises
- Proposed transaction remains subject to final TSX Venture Exchange acceptance and other closing conditions
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Vancouver, British Columbia--(Newsfile Corp. - September 1, 2026) - Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to provide an update regarding its property option agreement (the "Agreement"), effective February 27, 2026, with Globex Mining Enterprises Inc. ("Globex"), pursuant to which the Company may earn a
As previously announced in company updates, Steven Lauzier, P.Geo. OGQ1430, was engaged to prepare an independent technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") in respect of the Properties.
The resulting technical report, entitled "Technical Report on the Joutel North-West and Gagné Gold Property, Eeyou-Istchee James Bay, Quebec, Canada", with an effective date of July 8, 2026 (the "Technical Report"), was submitted to the Exchange for review. Following receipt of comments from the Exchange, the Company and the authors of the Technical Report addressed the comments and submitted the final signed Technical Report to the Exchange.
The Exchange has now confirmed that its geologist considers the Technical Report complete.
"I want to congratulate our entire technical and corporate team for reaching this important milestone," said A. Paul Gill, CEO of Edison Lithium Corp. "Our team has worked diligently and professionally throughout this process, and their commitment has positioned us well for the next phase of advancing the Joutel North-West and Gagné properties. We look forward to continuing to build momentum as we move toward final acceptance of the Transaction and the next steps in advancing these promising projects."
The Exchange's confirmation that its geologist considers the Technical Report complete represents another step in the Exchange's review of the Transaction. The Company continues to work with the Exchange to address the remaining matters required in connection with the Transaction. The Transaction remains subject to final Exchange acceptance and the satisfaction of all other applicable closing conditions.
The Company will provide additional updates regarding the Transaction as developments occur.
Figure 1 Location of the Joutel and Gagne Properties in the Quebec Casa Berardi Trend
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About Edison Lithium Corp.
Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.
On behalf of the Board of Directors:
A. Paul Gill
Chief Executive and Director
Tel: 416-526-3217
Email: info@edisonlithium.com
Website: www.edisonlithium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements Caution: This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"), including statements regarding the proposed acquisition of the Properties, satisfaction of the Agreement and related conditions, required payments, share issuances and expenditures, financing, planned exploration activities, completion of the Transaction, and receipt of all required approvals, including final acceptance of the TSX Venture Exchange.
Forward-looking statements are based on management's assumptions, estimates, expectations and opinions as of the date hereof, including that the parties will perform their obligations, required approvals, permits, authorizations and access will be obtained, financing will be available on acceptable terms, market and economic conditions will remain supportive, and no material adverse changes will occur. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results or events to differ materially, including risks that the Transaction may not be completed, conditions may not be satisfied, the Agreement may be terminated, Exchange acceptance may not be obtained, financing may not be available, and risks relating to mineral exploration, geology, sampling, assays, interpretation of results, title, access, permitting, environmental matters, commodity prices, exchange rates, capital markets, operations, contractors, weather, natural events, and the risks described in the Company's filings on SEDAR+ at www.sedarplus.ca.
Although the Company believes the forward-looking statements in this news release are reasonable as of the date hereof, there can be no assurance that they will prove accurate. Readers should not place undue reliance on forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements except as required by applicable law.
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