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Red Metal (OTCPINK:RMESF) reported progress at the Carrizal Copper-Gold-Cobalt Property in Chile, where lease operator KMT is advancing small-scale mining on the Farellon 1/8 concession. Red Metal receives a 10% sales royalty on ore sold to ENAMI.
Level 7 de-watering at the North Mine is about 90% complete, and the South Mine decline has advanced 10 metres toward a mineralized vein. KMT indicates development is ahead of schedule, with production at Level 7 targeted by end of summer.
Red Metal Resources (OTC: RMESF) reported progress at its Farellon 1/8 concession, part of the Carrizal copper-gold-cobalt project in Chile. Lease operator KMT is advancing underground development in both North and South Mine areas, with Red Metal earning a 10% sales royalty on ore sold to ENAMI.
De-watering of historic Level 7 in the North Mine is ~90% complete, restoring access to zones that previously yielded 5,080 tonnes at 1.97% Cu, 9.62 g/t Ag and 0.14 g/t Au. The South Mine portal has advanced 10 metres toward a vein with historic drill intercepts up to 3.72% Cu.
KMT indicates development toward full production is ahead of schedule, with production targeted before the original seven‑month goal and by end of summer. Red Metal staff will visit twice monthly to oversee operations and sampling, while IP survey results expected in July will support further drill targeting.
Red Metal Resources (OTC: RMESF) reported gross proceeds of $397,500 from the exercise of 4,354,167 common share purchase warrants by three holders, including one insider. Net proceeds will fund exploration programs and working capital.
The company also engaged Spark Newswire for a two-month investor awareness campaign for US$125,000 in cash, with no securities-based compensation.
Red Metal (CSE: RMES, OTC: RMESF) engaged Independent Trading Group (ITG) as a market maker under Canadian Securities Exchange policies. ITG will trade Red Metal shares across venues to support a reasonable market and liquidity.
The initial one‑month agreement costs $5,500, auto‑renews monthly, can be terminated on 30 days' notice, includes no performance conditions, and pays ITG only in cash. Red Metal and ITG are independent, and ITG and its principals hold no Red Metal securities.
Red Metal (OTC: RMESF) signed a 5-year, renewable mining lease for its 100%-owned Farellon 1/8 concession at the Carrizal copper-gold-cobalt project in Chile with Minera KMT SpA.
The agreement sets a minimum 2,500 tonnes/month after a 7‑month development period and gives Red Metal 10% (minus 1.5% existing royalty) on Cu, Ag, Au ore sales and 15% (minus 1.5%) on cobalt-bearing ores, with KMT responsible for concession taxes.
Red Metal Resources (CSE: RMES, OTC: RMESF, FSE: I660) has filed Form 15F with the SEC to terminate registration of its common shares under Section 12(g) and end reporting obligations under Sections 13(a) and 15(d) of the Exchange Act.
The filing follows a 12‑month U.S. average daily trading volume of about 1,376 shares, or 0.99% of worldwide volume of about 138,486 shares, which the company believes satisfies Rule 12h‑6(a)(4)(i). SEC reporting is suspended upon filing and is expected to terminate after 90 days if the SEC does not object. Shares will continue trading on the CSE, Frankfurt, and OTC Markets, with home‑country disclosures available via SEDAR+ and the company website.
Red Metal Resources (OTC: RMESF) has begun a 37 line-kilometre induced polarization (IP) survey at the Carrizal property, targeting a structurally controlled, vein-style Iron Oxide Copper-Gold system with surface veins over 12 km strike.
Crew mobilized from Geophysical Studies Chile; 7.5 km of cable laid (northern grid). The IP survey will collect chargeability/resistivity data to depths of approximately 500 m to help generate drill targets and 3D inversions for follow-up drill planning.
Red Metal Resources (OTC: RMESF) completed a LiDAR survey and interpreted results at its 100%‑owned Carrizal copper‑gold‑cobalt property in Chile, confirming known mineralized veins and extending their strike. The company identified 30 veins, 4 artisanal work areas, and 4 new target areas, and has mobilized an induced polarization (IP) crew for a 37 line‑km survey to generate 3D chargeability/resistivity models and support drill planning to ~500 m depth.
Red Metal Resources (OTC: RMESF) has engaged RCMA Capital Inc. under a three-month consulting agreement starting April 8, 2026 to provide marketing, public relations and investor outreach services.
The company will pay a cash fee of $3,000 per month, no securities will be issued, and the parties are arm's length.
Red Metal (OTC: RMESF) has engaged Geophysical Studies Chile to conduct an Induced Polarization (IP) survey over its 100%-owned Carrizal copper-gold-cobalt project in Chile's Atacama Region. The survey totals 37 line kms, targeting sulphide chargeability to depths up to 500 m.
Historic surface sampling (1996–2025) includes 317 samples: 178 >1% Cu, 128 >2% Cu, with highs to 17.25% Cu; gold highs include 8.4 g/t Au. Prior drilling tested 1.5 km of veining to ~200 m. IP will refine targets for a second drilling phase.