Meryllion Resources to Make Lease Option Payment in Shares

Rhea-AI Summary

Meryllion Resources (CSE: MYR, OTC: MYRLF) intends to satisfy a lease option payment owed to Bull Mountain Resources by issuing 4,406,250 common shares at a deemed price of CAD$0.032 per share, totaling CAD$141,000 (US$100,000). Completion is subject to regulatory approvals, including the CSE, and the new shares will carry a four‑month‑and‑one‑day hold period under applicable securities laws.

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Vancouver, British Columbia--(Newsfile Corp. - July 16, 2026) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Company") announces that it intends to make a lease option payment to Bull Mountain Resources LLC ("BMR") in the amount of CAD$141,000 (US$100,000) through the issuance of 4,406,250 common shares in the capital stock of Meryllion (the "Shares") at a deemed issue price of CAD$0.032 per Share, the whole pursuant to the lease and option agreement dated July 11, 2025 between the Company and BMR in respect of the Makenzie Gold, Silver and Antimony Project (see press release dated July 15, 2025).

Completion of the payment in Shares is subject to the receipt of all necessary regulatory approvals, including from the Canadian Securities Exchange (the "CSE"). The Shares to be issued will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.

For further information, please contact:

Mr. Richard Revelins
Director and Chief Executive Officer
Meryllion Resources Corporation 

+1-310-405-4475
rrevelins@peregrinecorporate.com

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305450

FAQ

What did Meryllion Resources (MYRLF) announce on July 16, 2026 about its lease option payment?

Meryllion Resources announced it intends to settle a CAD$141,000 lease option payment by issuing 4,406,250 common shares. According to Meryllion Resources, this payment relates to its agreement with Bull Mountain Resources for the Makenzie Gold, Silver and Antimony Project.

How many shares will Meryllion Resources (MYRLF) issue for the lease option payment and at what price?

Meryllion Resources plans to issue 4,406,250 common shares at a deemed price of CAD$0.032 per share. According to Meryllion Resources, this share issuance equals a total payment value of CAD$141,000 (US$100,000) under its lease and option agreement.

Which project is linked to the Meryllion Resources (MYRLF) lease option payment in shares?

The lease option payment in shares is linked to the Makenzie Gold, Silver and Antimony Project. According to Meryllion Resources, this project is governed by a lease and option agreement dated July 11, 2025, with Bull Mountain Resources LLC.

What regulatory approvals are required for the new Meryllion Resources (MYRLF) share issuance?

The planned share issuance is subject to receiving all necessary regulatory approvals, including approval from the Canadian Securities Exchange. According to Meryllion Resources, completion of the lease option payment in shares cannot occur until these approvals are obtained.

What is the hold period on the new Meryllion Resources (MYRLF) shares issued for the lease option payment?

The new shares will be subject to a hold period of four months and one day from the date of issuance. According to Meryllion Resources, this restriction is required under applicable securities laws governing the transaction.