Pure Energy Announces Completion of an Earn-In Transaction in Esmeralda County

Rhea-AI Summary

Pure Energy Minerals (OTCQB: PEMIF) announced completion of an earn-in transaction on its Esmeralda County, Nevada lithium brine claims on March 17, 2026.

The company transferred ownership of the formerly 100%-owned claims to the earn-in partner while retaining a 3% net smelter return (NSR) royalty on commodities extracted from those claims. The earn-in related to design, permitting, development and construction of a Direct Lithium Extraction demonstration plant. Management says the deal preserves upside via the NSR while allowing Pure Energy to focus on new strategic directions.

Positive

• Retains 3% NSR royalty on former Esmeralda County claims
• Releases operational burden to focus on new strategic directions

Negative

• Transferred ownership of previously 100% owned Esmeralda County claims

News Market Reaction – PEMIF

+75.19%

+75.19% Session close to close

In the Mar 17 session, PEMIF gained 75.19%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Vancouver, British Columbia--(Newsfile Corp. - March 16, 2026) - Pure Energy Minerals Limited (TSXV: PE) (OTCQB: PEMIF) ("Pure Energy" or "the Company") is pleased to report the completion of an earn-in transaction relating to certain of the Company's 100%-owned lithium brine claims in Esmeralda County, Nevada (as described in a Company's news release dated May 1, 2019). Pure Energy had entered into an earn-In agreement that allowed for the design, permitting, development and construction of a state-of-the-art demonstration plant for Direct Lithium Extraction from lithium brines. As a result of the exercise, the Company has transferred ownership of its owned claims and Pure Energy will receive a 3% net smelter return ("NSR") royalty payable on all commodities extracted from claims that were directly owned by the Company, net of the advance royalty payments made to the Company.

"The successful completion of this transaction is an important milestone for our Company," stated William Morton, President and CEO of Pure Energy. "This transaction marks the beginning of a new chapter for our Company. By retaining a 3% NSR royalty, we maintain exposure to the long-term upside of the project while strengthening our position to focus on new strategic directions and the next phase of our corporate evolution."

About Pure Energy

Pure Energy is a TSX Venture Exchange-listed mineral exploration company transitioned toward a new phase of corporate growth. Following the successful option-out of its CV Project, the Company is currently focused on the evaluation of new strategic prospects. The Company is committed to a disciplined acquisition strategy aimed to create long-term shareholder value.

On behalf of the Board of Directors,

"William Morton"
President and CEO, Pure Energy Minerals Limited

CONTACT:

Pure Energy Minerals Limited (www.pureenergyminerals.com)
Email: info@pureenergyminerals.com
Telephone - 604 608 6611

Cautionary Statements and Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the future exposure to the NSR Royalty.

In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will successfully advance the development of its resources and that such efforts will result in creating shareholder value.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not benefit from the NSR Royalty in any way.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) 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/288771

FAQ

What did Pure Energy (PEMIF) announce on March 17, 2026 about Esmeralda County?

Pure Energy completed an earn-in transaction and transferred ownership of its Esmeralda County claims. According to the company, it retained a 3% NSR royalty on commodities from those claims while the partner pursues a Direct Lithium Extraction demonstration plant.

How large is the royalty Pure Energy (PEMIF) kept from the earn-in deal?

Pure Energy retained a 3% net smelter return (NSR) royalty on extracted commodities. According to the company, the NSR applies to claims the company directly owned, net of advance royalty payments.

Does the earn-in involve a Direct Lithium Extraction plant for Pure Energy (PEMIF)?

Yes — the earn-in covered design, permitting, development and construction of a Direct Lithium Extraction demonstration plant. According to the company, the partner exercised the agreement and assumed ownership while Pure Energy retained NSR exposure.

What does the ownership transfer mean for Pure Energy shareholders (PEMIF)?

The company relinquished direct ownership of the Esmeralda claims but kept long-term upside via a 3% NSR. According to the company, this frees management to pursue new strategic priorities while maintaining project exposure.

Will Pure Energy (PEMIF) receive immediate cash from the earn-in transaction?

The announcement does not state an immediate cash payment; it specifies the company retained a 3% NSR royalty and notes advance royalty payments were netted. According to the company, the structure preserves future royalty revenue rather than direct ownership.

Where are the claims involved in Pure Energy's (PEMIF) transaction located?

The claims are located in Esmeralda County, Nevada, tied to lithium brine targets. According to the company, the earn-in related to claims the company previously owned 100% and to the demonstration plant project.