Nexcel Metals Expands Burnt Hill Tungsten Project Through Acquisition of Strategic Fitzgerald Claims
Rhea-AI Summary
Nexcel Metals (OTCQB:NXXCF) entered an option agreement to acquire a 100% interest in the 500-hectare Fitzgerald Claims, a 25-unit mineral package within the Burnt Hill Tungsten Project in New Brunswick.
The claims remove a third-party inlier, consolidate Nexcel’s land position, and expand exposure to tungsten, tin, molybdenum and beryllium trends near several historical occurrences.
Consideration totals $100,000 in cash and 225,000 shares, payable in staged installments over 36 months from the June 21, 2026 effective date.
Positive
- Option to acquire 100% of 500-hectare Fitzgerald Claims
- Consolidates Burnt Hill land package by removing third-party inlier block
- Increases exposure to multiple historical tungsten and tin occurrences
- Cash consideration limited to $100,000 over 36 months
- Share consideration fixed at 225,000 shares over 36 months
Negative
- Acquisition requires issuance of 225,000 new shares, creating dilution
- Cash payments of $100,000 spread over three years impact liquidity
- Full ownership depends on meeting staged option payment conditions
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - June 29, 2026) - Nexcel Metals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) ("Nexcel" or the "Company") is pleased to announce that it has entered into an option agreement to acquire a
The Fitzgerald Claims comprise 25 mineral claim units and occupy a key position immediately north of the Burnt Hill Tungsten Project. The property is contiguous with several of Nexcel's existing claim blocks, further consolidating the Company's footprint of one of Canada's most significant historical tungsten districts.
The acquisition represents an important step in Nexcel's strategy at Burnt Hill. The Fitzgerald Claims effectively eliminate a third-party inlier claim block within the Company's broader area of interest, creating a more cohesive land package surrounding the Burnt Hill and several known mineral occurrences. Management believes this enhanced land position will improve the Company's ability to systematically explore, evaluate and advance targets across the project while protecting potential extensions of known mineralized systems.
The Fitzgerald Claims were acquired pursuant to an option agreement dated June 21, 2026, between Nexcel Metals Corp. and Roger Fitzgerald. Under the terms of the agreement, Nexcel will earn a
Paying Optionor an aggregate of
(i)
(ii)
(iii)
(iv)
Issuing Optionor an aggregate 225,000 Shares as follows:
(i) 25,000 Shares on or before the date that is seven (7) days after the Effective Date;
(ii) 25,000 Shares on or before the date that is twelve (12) months after the Effective Date;
(iii) 25,000 Shares on or before the date that is twenty-four (24) months after the Effective
Date; and
(iv) 150,000 Shares on or before the date that is thirty-six (36) months after the Effective Date.
The Fitzgerald Claims are situated within a region known for tungsten, tin, molybdenum and beryllium mineralization. The property is located in proximity to numerous historical mineral occurrences including Burnt Hill Tungsten, Lower Burnt Hill Brook, Clearwater Brook, Molasses Brook and Trout Brook, providing Nexcel with additional exposure to multiple prospective geological trends within the camp.
Figure 1: Nexcel Metal's Burnt Hill Project with new Fitzgerald Claim Block Highlighted
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Hugh Rogers, Chief Executive Officer of Nexcel Metals, stated:
"This acquisition is significant not only because it adds prospective ground to our portfolio, but because it strengthens our footprint over the broader Burnt Hill district. The Fitzgerald Claims occupy a strategic position near the centre of our land package and host the historical Tin Hill occurrence. By securing these claims, we have removed a third-party landholding from within our area of interest, expanded our exposure to known mineralized trends and further enhanced our ability to pursue a district-scale exploration strategy."
"Historically, many successful mining camps have been built through the consolidation of fragmented land positions surrounding known deposits. We believe the Fitzgerald Claims represent exactly that type of opportunity. The acquisition provides greater flexibility for future exploration programs, strengthens our long-term development optionality and increases our exposure to potential new discoveries within the Burnt Hill camp."
The Company believes the acquisition is particularly important given the strategic nature of tungsten as a critical mineral. Tungsten is considered essential for numerous industrial, aerospace, defence and advanced manufacturing applications due to its exceptional hardness, density and high-temperature performance characteristics. As governments and industry continue to prioritize secure domestic supply chains for critical minerals, Nexcel believes the Burnt Hill project represents a unique opportunity to advance a Canadian tungsten-focused project in a stable mining jurisdiction.
The Company will incorporate the Fitzgerald Claims into its ongoing exploration strategy for Burnt Hill, including the compilation of historical geological data, target generation and evaluation of future exploration programs.
Qualified Person
Francis R. Newton, P.Geo., a consultant to the Company and a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About Nexcel Metals Corp.
Nexcel Metals Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of critical mineral projects in Canada. The Company's flagship Burnt Hill Tungsten Project is located in New Brunswick and encompasses a significant land package within one of Canada's most historically significant tungsten camps. Nexcel's strategy is to advance and expand its critical minerals portfolio through systematic exploration, strategic property acquisitions and the evaluation of development opportunities in stable mining jurisdictions. The Company also has the option to acquire a
ON BEHALF OF THE BOARD OF DIRECTORS
"Hugh Rogers"
CEO & Director
For all other inquiries:
Email: hrogers@nexcelmetals.com
Phone: (604) 250-6162
Forward-Looking Statements
All statements included in this press release that address activities, events or developments that Nexcel expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements may involve, but are not limited to, statements with respect to the exploration and development of the Company's mineral properties. These forward-looking statements involve numerous assumptions made by Nexcel based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond Nexcel's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, Nexcel does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
Neither the Canadian Securities Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303233