International Prospect Ventures Signs Exploration Agreement with the Matachewan First Nation and Mattagami First Nation (Wabun Tribal Council)

Rhea-AI Summary

International Prospect Ventures (URANF) signed an Exploration Agreement dated October 15, 2025 with Matachewan First Nation and Mattagami First Nation (Wabun Tribal Council) covering the Company's properties in northeastern Ontario's Abitibi Greenstone Belt.

The agreement sets consultation and impact‑mitigation terms, promises contracts, jobs and training during exploration, and contemplates issuing each First Nation 50,000 common shares plus 50,000 incentive options at $0.05 per share exercisable for five years, subject to TSX Venture Exchange approval. The Agreement remains until an Impact Benefit Agreement is concluded.

Positive

• Binding Exploration Agreement dated Oct 15, 2025
• Commitment to contracts, jobs and training during exploration
• Planned issuance of 50,000 shares and 50,000 options to each First Nation

Negative

• Share and option issuances are subject to TSXV approval
• Agreement is temporary until a formal Impact Benefit Agreement (IBA) is concluded

Val-D'Or, Québec--(Newsfile Corp. - November 21, 2025) - International Prospect Ventures Ltd. (TSXV: IZZ) (the "Company" or "International Prospect") is pleased to announce the signing of a milestone Exploration Agreement dated October 15, 2025 (the "Exploration Agreement") with the Matachewan First Nation (Matachewan FN) and Mattagami First Nation (Mattagami FN), members within the Wabun Tribal Council (WTC). The Exploration Agreement was signed by the three companies within the "Zed Zed Group": International Prospect Ventures Ltd., Val-D'Or Mining Corporation ("Val-D'Or Mining"), and Cleghorn Minerals Ltd. The Exploration Agreement covers the Company's Operational Areas of Interest ("the Properties") within the First Nations' traditional lands, located in northeastern Ontario's Abitibi Greenstone Belt.

The Exploration Agreement outlines the terms on how consultation and impact mitigation on exploration activities will be conducted. It also delivers financial benefits, including contracts, jobs, and training opportunities during the exploration phase, for both current and future work programs across the property portfolio covered by the Exploration Agreement. Further, the Exploration Agreement provides that the Company will, subject to the approval of the TSX Venture Exchange, issue to each of Matachewan FN and Mattagami FN 50,000 common shares of the Company, and will also grant to each of Matachewan FN and Mattagami FN incentive stock options to acquire 50,000 shares of the Company at a per share price of $0.05 for a period of five years from issuance, in accordance with its incentive stock option plan and a consulting agreement among the parties. The Exploration Agreement will remain in effect until such time an Impact Benefit Agreement (IBA) has been concluded.

Glenn J. Mullan, President/CEO of International Prospect Ventures commented, "We are sincerely appreciative be a part of this significant milestone, which shows to what can be achieved when we unite around a shared purpose and work together to create meaningful progress. Seeing the dedication, thoughtful negotiation, and commitment of everyone involved has been truly inspiring. We wish to acknowledge with gratitude Chief Batisse of the Matachewan First Nation and Chief Constant of the Mattagami First Nation, along with their respective Councils, the negotiating committee led by their Mineral Development Advisors, the Wabun Tribal Council, and the local community members."

This milestone represents the culmination of more than five years of relationship-building and dialogue between the Company and the Matachewan and Mattagami First Nations, and the Wabun Tribal Council, and establishes a strong foundation for on-going cooperation among all parties.

International Prospect Ventures remains committed to responsible exploration and to delivering shared economic opportunities to the local communities. An official signing ceremony will be held at the Wabun Tribal Council offices in Timmins, Ontario. Details will be announced once confirmed.

About International Prospect Ventures Ltd.

International Prospect Ventures is a junior mineral exploration company that holds interests in mining claims and tenements (and is continuing to acquire additional interests) located primarily in the Pilbara Craton, Western Australia, within an area Southeast of Karratha, where early-stage gold discoveries have been reported.

The Company also has a 100% interest in the Porcupine Miracle Gold Prospect, consisting of 4 mineral claims located in Langmuir Township, Ontario.

International Prospect Ventures continues to evaluate additional opportunities on an ongoing basis.

For additional information, please contact:
Glenn J. Mullan
President and CEO
2772 chemin Sullivan
Val-D'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: glenn.mullan@groupzedzed.com
Website: www.iprospectventures.ca

Forward Looking Statements:

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) 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/275406

FAQ

What did International Prospect Ventures (URANF) sign with Matachewan and Mattagami First Nations on October 15, 2025?

An Exploration Agreement covering the company's properties in the Abitibi Greenstone Belt that defines consultation, impact mitigation and economic benefits.

How many shares and options will Matachewan FN and Mattagami FN receive from URANF?

Each First Nation is to receive 50,000 common shares and 50,000 incentive stock options exercisable at $0.05 for five years, subject to TSXV approval.

What economic benefits does the URANF Exploration Agreement promise local communities?

The agreement provides for contracts, jobs and training opportunities during the exploration phase and future work programs.

When will the Exploration Agreement end for URANF and the First Nations?

The Exploration Agreement remains in effect until an Impact Benefit Agreement (IBA) has been concluded.

Does the URANF share issuance under the Exploration Agreement require regulatory approval?

Yes — the planned issuance of shares and options to each First Nation is subject to TSX Venture Exchange approval.