Northern Minerals & Exploration Ltd. (NMEX) Announces Agreement to Acquire Interests in Eight Oil and Gas Properties

(Very High)

(Neutral)

Rhea-AI Summary

Northern Minerals & Exploration (OTC PINK: NMEX) has entered into an agreement with Lost Creek Acquisitions to acquire nonoperated working interests in eight oil and gas properties. Lost Creek Acquisitions has agreed to convey the specified property interests to NMEX as part of its strategy to expand its portfolio of revenue-generating energy assets.

According to NMEX, closing is expected following the conveyance of the properties and transfer of ownership interests by the operator to NMEX. Management describes the acquisition as adding exposure to established oil and gas production while limiting operating risk, with additional property and transaction details to be provided after the transfer process and final closing.

Positive

Agreement to acquire nonoperated working interests in eight oil and gas properties
Transaction aligns with stated strategy to expand revenue-generating energy asset portfolio
Planned exposure to established oil and gas production while remaining non-operator

Negative

Closing remains pending completion of property conveyance and operator ownership transfers

News Market Reaction – NMEX

-14.79%

-14.79% Session close to close

In the Jul 28 session, NMEX declined 14.79%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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07/28/2026 - 09:03 AM

PLEASANT GROVE, UT / ACCESS Newswire / July 28, 2026 / Northern Minerals & Exploration Ltd. (OTC PINK:NMEX) ("NMEX" or the "Company") today announced that it has entered into an agreement with Lost Creek Acquisitions, LLC to acquire nonoperated working interests in eight oil and gas properties.

Under the terms of the agreement, Lost Creek Acquisitions has agreed to convey the specified property interests to Northern Minerals & Exploration Ltd. The transaction is intended to support NMEX's strategy of expanding its energy asset portfolio through the acquisition of revenue-generating oil and gas interests.

According to the agreement, closing is expected following the conveyance of the properties and the transfer of ownership interests by the operator to Northern Minerals & Exploration Ltd..

Noel Schaefer, President and Chief Executive Officer of NMEX, commented: "This acquisition represents another important step in NMEX's strategy to build a diversified portfolio of revenue-producing energy assets. The addition of these non-operated working interests provides the Company with exposure to established oil and gas production while minimizing operating risk. We believe these assets have the potential to contribute to future cash flow and create long-term value for our shareholders as we continue to identify and execute on strategic growth opportunities." Additional information regarding the acquired properties and transaction details may be provided following completion of the transfer process and final closing of the acquisition.

About Northern Minerals & Exploration Ltd.

Northern Minerals & Exploration Ltd. (OTC PINK:NMEX) is focused on identifying and developing opportunities in the natural resources sector, including energy and mineral-related assets. The Company seeks to create long-term shareholder value through strategic acquisitions and resource development initiatives.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. These statements include, but are not limited to, statements regarding the anticipated acquisition of oil and gas interests, expected closing of the transaction, future production, revenues, growth opportunities, and business strategy. Actual results may differ materially from those expressed or implied by forward-looking statements due to various risks and uncertainties, including satisfaction of closing conditions, transfer approvals, commodity price fluctuations, operational risks, and other factors. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release.

Contact: Noel Schaefer cerronrs@msn.com

SOURCE: Northern Minerals & Exploration Ltd.

View the original press release on ACCESS Newswire

FAQ

What acquisition did Northern Minerals & Exploration (NMEX) announce on July 28, 2026?

Northern Minerals & Exploration announced an agreement to acquire nonoperated working interests in eight oil and gas properties. According to NMEX, the interests will be conveyed by Lost Creek Acquisitions as part of a strategy to expand its portfolio of revenue-generating energy assets.

Who is Northern Minerals & Exploration (NMEX) acquiring oil and gas interests from?

NMEX is acquiring the nonoperated working interests from Lost Creek Acquisitions. According to Northern Minerals & Exploration, Lost Creek Acquisitions has agreed to convey specified property interests in eight oil and gas properties, subject to property conveyance and operator ownership transfer steps before closing.

What type of assets is Northern Minerals & Exploration (NMEX) adding through this acquisition?

Northern Minerals & Exploration is adding nonoperated working interests in eight oil and gas properties. According to NMEX, these interests provide exposure to established oil and gas production while minimizing operating risk, and are intended to support a diversified portfolio of revenue-producing energy assets.

When is the acquisition of eight oil and gas properties by NMEX expected to close?

Closing is expected after the properties are conveyed and ownership interests are transferred by the operator to NMEX. According to Northern Minerals & Exploration, additional details about the acquired properties and transaction may be provided following completion of the transfer process and final closing.

How does the July 2026 acquisition support Northern Minerals & Exploration (NMEX) strategy?

The acquisition supports NMEX’s strategy to build a diversified portfolio of revenue-producing energy assets. According to Northern Minerals & Exploration, adding nonoperated working interests in established oil and gas production aligns with its focus on expanding energy and mineral-related assets to create long-term shareholder value.