Sorrento Resources Closes Bottom Brook Option Agreement

Rhea-AI Summary

Sorrento Resources (CSE: SRS / OTCQB: SRSLF) closed an amended and restated option agreement dated October 29, 2025 to acquire up to 100% of Naughty Ventures' interest in the Bottom Brook rare earth element (REE) property in Newfoundland and Labrador.

As consideration under the Option Agreement the company issued 9,000,000 common shares to the optionor and 900,000 common shares to Kluane Capital FZCO as a finder’s fee. All Sorrento Shares issued carry a four-month-and-one-day hold expiring on March 21, 2026.

Positive

• Option to acquire up to 100% of Bottom Brook REE property
• Issued 9,000,000 shares as consideration to secure property rights

Negative

• 9,900,000 total shares issued (9,000,000 + 900,000), causing dilution
• Shareholdings subject to hold until March 21, 2026, limiting liquidity

Vancouver, British Columbia--(Newsfile Corp. - November 21, 2025) - SORRENTO RESOURCES LTD. (CSE: SRS) (OTCQB: SRSLF) ("SORRENTO") (the "Company") is pleased to announce that, further to its news releases dated October 16, 2025 and October 30, 2025, the Company has closed on the amended and restated option agreement (the "Option Agreement") dated October 29^th, 2025 for the purchase of up to 100% of Naughty Ventures' right, title and interest in and to certain mineral claims commonly known as the Bottom Brook rare earth element ("REE") property located in the Province of Newfoundland and Labrador (the "Bottom Brook Property").

Pursuant to the Option Agreement, the Company has issued 9,000,000 common shares in the capital of Sorrento (the "Sorrento Shares"). Additionally, the Company has issued 900,000 Sorrento Shares to Kluane Capital FZCO as finder's fee. The Sorrento Shares bear a hold period of four months and one day, expiring on March 21, 2026.

About Sorrento Resources Ltd.

Sorrento is engaged in the acquisition, exploration, and development of mineral property assets in Canada. Sorrento's objective is to locate and develop economic precious, rare-earth element, gold, and base metal properties of merit in including the Bottom Brook REE Project, Rodgers Cove Gold, and the Harmsworth (VMS) project all located in Newfoundland.

On Behalf of the Board of Directors,

"Alex Bugden"
CEO, President, and Qualified Person
For further details, please contact:
Email: investors@sorrentoresources.ca
Phone: 709-693-4088

Cautionary Note Regarding Forward-Looking Information

Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the expectation that the Offering will close in the timeframe and on the terms as anticipated by management. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275418

FAQ

What did Sorrento Resources (SRSLF) announce on November 21, 2025 about Bottom Brook?

Sorrento closed an amended option agreement to acquire up to 100% of the Bottom Brook REE property.

How many Sorrento shares were issued under the Bottom Brook option agreement (SRSLF)?

The company issued 9,000,000 shares to the optionor and 900,000 shares to Kluane Capital FZCO as a finder’s fee.

When do the hold periods on the Sorrento shares issued for Bottom Brook (SRSLF) expire?

The Sorrento Shares carry a four-month-and-one-day hold expiring on March 21, 2026.

What type of property is Bottom Brook in Sorrento's SRSLF agreement?

Bottom Brook is described as a rare earth element (REE) property in Newfoundland and Labrador.

Who received the finder’s fee in Sorrento's Bottom Brook option transaction (SRSLF)?

Kluane Capital FZCO received a finder’s fee of 900,000 Sorrento shares.