Prospector Signs Definitive Agreement to Option Savant Gold Project to BeMetals Corp.
Prospector Metals Corp. (OTCQB: PMCOF) has signed a definitive option agreement with BeMetals Corp. for its Savant Gold Exploration Project in northwestern Ontario. The agreement allows BeMetals to earn up to 100% interest over five years through exploration commitments and resource-based milestones.
Key terms include: C$500,000 initial exploration commitment in the first year, minimum cumulative exploration spending of C$2.5 Million, and ownership structure based on NI 43-101 resource findings. BeMetals will pay US$5 per gold ounce discovered and grant a 0.5% NSR royalty to Prospector if full ownership is acquired.
Additionally, Prospector announced an option agreement with Cupani Metals Corp. for its Nemo Project in Quebec, involving claim renewal fees of C$52,965 and minimum exploration work of C$43,335.
Prospector Metals Corp. (OTCQB: PMCOF) ha firmato un accordo di opzione definitivo con BeMetals Corp. per il progetto di esplorazione aurifera Savant nel nord-ovest dell'Ontario. L'accordo permette a BeMetals di acquisire fino al 100% di interesse in cinque anni attraverso impegni di esplorazione e traguardi legati alle risorse.
I termini principali prevedono: un impegno iniziale di esplorazione di C$500,000 nel primo anno, spese cumulative minime di esplorazione di C$2.5 Million e una struttura di proprietà determinata dai risultati delle risorse secondo NI 43-101. BeMetals pagherà US$5 per oncia d'oro scoperta e concederà a Prospector una royalty NSR dello 0,5% in caso di acquisizione totale della proprietà.
Inoltre, Prospector ha annunciato un accordo di opzione con Cupani Metals Corp. per il progetto Nemo in Quebec, che prevede il pagamento dei rinnovi delle concessioni per C$52,965 e lavori esplorativi minimi per C$43,335.
Prospector Metals Corp. (OTCQB: PMCOF) firmó un acuerdo de opción definitivo con BeMetals Corp. sobre su proyecto de exploración aurífera Savant en el noroeste de Ontario. El acuerdo permite a BeMetals obtener hasta un 100% de participación en cinco años mediante compromisos de exploración y hitos vinculados a los recursos.
Los términos clave incluyen: un compromiso inicial de exploración de C$500,000 en el primer año, un gasto acumulado mínimo en exploración de C$2.5 Million y una estructura de propiedad determinada por los hallazgos de recursos conforme a NI 43-101. BeMetals pagará US$5 por onza de oro descubierta y concederá a Prospector una regalía NSR del 0,5% si adquiere la propiedad completa.
Además, Prospector anunció un acuerdo de opción con Cupani Metals Corp. para su proyecto Nemo en Quebec, que incluye tasas de renovación de reclamaciones por C$52,965 y trabajo exploratorio mínimo por C$43,335.
Prospector Metals Corp. (OTCQB: PMCOF)가 북서 온타리오의 Savant 금 탐사 프로젝트에 대해 BeMetals Corp.와 최종 옵션 계약을 체결했습니다. 이 계약은 BeMetals가 탐사 의무와 자원 기반 이정표를 통해 5년 내 최대 100% 지분을 획득할 수 있도록 합니다.
주요 조건으로는 첫해 C$500,000 초기 탐사 자금 투입, 누적 최소 탐사 지출 C$2.5 Million, NI 43-101 자원 결과에 따른 소유 구조 등이 포함됩니다. BeMetals는 발견된 금에 대해 온스당 US$5를 지불하고, 완전 소유를 획득할 경우 Prospector에 0.5% NSR 로열티를 지급합니다.
또한 Prospector는 퀘벡의 Nemo 프로젝트에 대해 Cupani Metals Corp.와 옵션 계약을 발표했으며, 여기에는 권리 갱신 비용 C$52,965와 최소 탐사 작업비 C$43,335가 포함됩니다.
Prospector Metals Corp. (OTCQB: PMCOF) a signé une convention d'option définitive avec BeMetals Corp. pour son projet d'exploration aurifère Savant dans le nord-ouest de l'Ontario. L'accord permet à BeMetals d'acquérir jusqu'à 100% d'intérêt sur cinq ans via des engagements d'exploration et des jalons liés aux ressources.
Les principaux termes comprennent : un engagement initial d'exploration de C$500,000 la première année, des dépenses d'exploration cumulées minimales de C$2.5 Million et une structure de propriété déterminée par les résultats de ressources selon NI 43-101. BeMetals versera US$5 par once d'or découverte et accordera à Prospector une redevance NSR de 0,5% en cas d'acquisition complète.
De plus, Prospector a annoncé une convention d'option avec Cupani Metals Corp. pour son projet Nemo au Québec, impliquant des frais de renouvellement des claims de C$52,965 et des travaux d'exploration minimaux de C$43,335.
Prospector Metals Corp. (OTCQB: PMCOF) hat eine endgültige Optionsvereinbarung mit BeMetals Corp. für das Savant-Goldexplorationsprojekt im Nordwesten Ontarios unterzeichnet. Die Vereinbarung ermöglicht BeMetals, durch Explorationsverpflichtungen und ressourcenbasierte Meilensteine bis zu 100% Beteiligung über fünf Jahre zu erwerben.
Wesentliche Bedingungen umfassen: ein anfängliches Explorationsengagement von C$500,000 im ersten Jahr, minimale kumulative Explorationsausgaben von C$2.5 Million und eine Eigentumsstruktur basierend auf den NI 43-101-Ressourcenergebnissen. BeMetals zahlt US$5 pro gefundene Feinunze Gold und gewährt Prospector bei vollständigem Erwerb eine 0,5% NSR-Royalty.
Zusätzlich kündigte Prospector eine Optionsvereinbarung mit Cupani Metals Corp. für sein Nemo-Projekt in Quebec an, die Anspruchsverlängerungsgebühren von C$52,965 und minimale Explorationsarbeiten in Höhe von C$43,335 vorsieht.
- Strategic partnership with BeMetals providing significant exploration funding of C$2.5 Million
- Success-based payment structure of US$5/oz of gold discovered
- Project located near major producers including Musselwhite and Red Lake gold mines
- Potential for significant resource discovery with clear ownership milestones
- Additional value creation through Nemo Project option agreement with Cupani
- No guaranteed ownership retention for Prospector if significant resources are discovered
- Long timeline of five years for full option exercise
- Minimum annual exploration requirements could delay project advancement if not met
Vancouver, British Columbia--(Newsfile Corp. - August 12, 2025) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") is pleased to announce that it has signed a definitive option agreement (the "Agreement") with BeMetals Corp. (TSXV: BMET) (OTCQB: BMTLF) (FSE: 1OI.F) ("BeMetals") to option up to a
This definitive agreement formalizes the terms set out in the non-binding Letter of Intent (LOI) previously announced on July 10, 2025. The Savant Project covers approximately 232 km² of underexplored terrain with favorable iron formation geology, situated near major past and present producers including the Musselwhite and Red Lake gold mines. Under the agreement, BeMetals has the exclusive option to earn up to a
Highlights of the Agreement
- Initial Commitment: BeMetals will spend at least C
$500,000 on exploration within first year of signing the definitive agreement.
- Annual Expenditures: BeMetals must spend C
$500,000 annually on exploration, with the option to accelerate spending, for minimum cumulative exploration spending of$2.5 Million .
- NI 43-101 Technical Report Supported Mineral Resources & Ownership: BeMetals will provide a NI 43-101 compliant Technical Report to support the mineral resources to determine the following ownership criteria:
- <500,000 ounces of gold ("oz"): Prospector retains
100% of the Project - 500,000 or more oz of gold in the Inferred resource category: a 50/50 joint venture to be formed
- ≥1,000,000 oz of gold with ≥500,000 in the Indicated resource category: BeMetals acquires
100% ownership of the Project
- Success-Based Payment: BeMetals will pay Prospector US
$5 /oz of gold in the mineral resource supported by the Technical Report.
- NSR Royalty: If BeMetals acquires full ownership of the Project, a
0.5% NSR royalty will be granted to Prospector.
Prospector expects to work closely with BeMetals in the coming weeks to design the 2025 exploration program with the aim to identify and prioritize drill targets for a subsequent initial drilling campaign in 2026.
Option Agreement with Cupani Metals Corp.
The Company also announces that it has signed an option agreement (the "Cupani Agreement") with Cupani Metals Corp. ("Cupani") to option the
In consideration for the exercise of the option pursuant to the Cupani Agreement, Cupani will pay the requisite renewal fees for the Nemo claims totalling
Upon the exercise of the option under the Cupani Agreement, Cupani will grant to the Company a perpetual royalty (the "Royalty") in respect of the products derived from Nemo equal to one-half of one percent (
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jodie Gibson, P.Geo., Vice President Exploration of Prospector, and a Qualified Person as defined under National Instrument NI 43-101 ("NI 43-101").
About Prospector Metals Corp.
Prospector Metals Corp. is a proud member of Discovery Group. The Company is focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Yukon and Ontario, Canada - Historical mining jurisdictions with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders and seeks to develop partnerships and agreements that are mutually beneficial to all interested parties.
On behalf of the Board of Directors,
Prospector Metals Corp.
Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO
For further information about Prospector Metals Corp. or this news release, please visit our website at prospectormetalscorp.com or contact Prospector at 1-778-819-5520 or by email at info@prospectormetalscorp.com.
Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca.
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company's exploration plans, risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 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/262133
FAQ
What are the key terms of Prospector Metals' (PMCOF) option agreement with BeMetals?
How can BeMetals acquire 100% ownership of Prospector's Savant Gold Project?
What happens if BeMetals discovers 500,000 ounces of gold at the Savant Project?
What royalty will Prospector receive if BeMetals acquires full ownership?
What is the size and location of Prospector's Savant Gold Project?
