USCM Closes Transaction to Consolidate 100% of the McDermitt East Lithium Project

Rhea-AI Summary

US Critical Metals (OTCQB: USCMF) completed acquisition of an initial 50% interest in the McDermitt East Lithium Project and secured an exclusive option to acquire the remaining 50%, enabling ownership of 100% subject to a 2.0% NSR royalty (1.0% repurchaseable for CAD $1,000,000). Option consideration includes a CAD $25,000 cash payment within 6 months and a final CAD $500,000 payment (cash, shares, or combo) by 24 months.

Planned work includes data compilation, surface sampling, mapping, target prioritization and a maiden drill program; prior sampling returned up to 2,129 ppm Li.

Positive

• Consolidated pathway to 100% project ownership via secured option
• Prior sampling up to 2,129 ppm lithium indicates target potential
• Planned maiden drill program to test drill-ready targets

Negative

• Option requires near-term cash obligations: CAD $25,000 within 6 months and CAD $500,000 by 24 months
• Project subject to a 2.0% NSR royalty (1.0% repurchaseable for CAD $1,000,000)
• No company-reported drilled resource yet; advancement depends on future exploration results

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2025) - US Critical Metals Corp. (CSE: USCM) (OTCQB: USCMF) (FSE: 0IU) ("USCM" or the "Company"), further to its press release on October 7, 2025, is pleased to announce that it has, together with its wholly-owned subsidiary US Energy Metals Inc. ("USEM"), completed the acquisition of the initial 50% interest in the McDermitt East Lithium Project (the "Project" or "McDermitt East"), located within the McDermitt Caldera in Nevada, United States (the "U.S."), and has secured the exclusive option to acquire the remaining 50% interest to own 100% of the Project.

The McDermitt Caldera hosts one of the largest emerging lithium districts in the U.S. and one of the largest lithium measured reserves and resources in the world, led by the Thacker Pass Project, which is currently under construction by Lithium Americas Corp.¹ The Company believes this regional ecosystem underscores the strategic importance and long-term development potential of McDermitt East.

Transaction Summary

• Closed Acquisition of 50% Interest: USCM/USEM has completed the acquisition of an initial 50% interest in the Project pursuant to an amended option agreement between the Company, USEM, Live Energy Minerals Corp. ("LIVE") and Lithium Valley Holdings Corp. (the "Amendment").

• Option to Acquire Remaining 50%: USCM/USEM holds the right to acquire the remaining 50% interest in the Project by making a cash payment of CAD $25,000 within 6 months of the execution of the Amendment and a final payment of CAD $500,000 (payable in cash, shares, or a combination thereof at the Company's election) on or before 24 months from the date of the execution of the Amendment.

Upon exercise of the option, USCM/USEM will own 100% of the Project, subject to a 2.0% NSR royalty, of which 1.0% may be repurchased for CAD $1,000,000.

Exploration Planning

With ownership now consolidated to 50% and the remaining 50% option fully secured, USCM will advance the Project by further defining the highest-priority targets for drilling. The work program will include:

• Further compilation and interpretation of all historical data sets;
• Additional surface sampling and targeted mapping;
• Target prioritization for drill-ready zones; and
• Initiate a maiden drill program to test the most prospective lithium-bearing horizons.

USCM previously reported sampling results of up to 2,129 ppm lithium at McDermitt East, underscoring the Project's potential as part of a strategically vital U.S. lithium district (reference full press release, here).

Management Commentary

Darren Collins, CEO of USCM, commented: "McDermitt East provides USCM with a major foothold in one of the strategically significant lithium basins in North America. With Thacker Pass under construction nearby, the region is rapidly emerging as the centerpiece of U.S. domestic lithium supply. Consolidating the pathway to 100% interest in the Project, USCM is now in an ideal position to advance exploration toward a maiden drill program. We look forward to providing further updates regarding the Project"

Project Information

The Project is located within the McDermitt Caldera, an extinct 40×30 km super-volcano formed approximately 16.3 million years ago (Ma) as part of a hotspot currently underneath the Yellowstone Plateau. Following an initial eruption and concurrent collapse of the McDermitt Caldera, a large lake formed in the caldera basin. This lake water was extremely enriched in lithium and resulted in the accumulation of lithium-rich clays.

Late volcanic activity uplifted the caldera, draining the lake and bringing the lithium-rich moat sediments to the surface resulting in the near-surface lithium present on the Project. The McDermitt Caldera is potentially one of the largest sources of lithium clays in the world and hosts some of the largest lithium deposits in the U.S. including the Tacker Pass project in the south portion of the Caldera.

LIVE completed a technical report in accordance with National Instrument 43-101 on the Project entitled "43-101 Technical Report on the McDermitt Lithium East Property prepared by John Michael William Collins, P. Geo.," effective date December 16, 2022" (the "Technical Report") which indicates high potential for the project to host large amounts of lithium bearing sediments. The Technical Report can be found under LIVE's SEDAR+ profile at www.sedarplus.ca.

Source

(1) Lithium Americas. (2025, January 9). Lithium Americas increases mineral resource and reserve for Thacker Pass. https://lithiumamericas.com/news/news-details/2025/Lithium-Americas-Increases-Mineral-Resource-and-Reserve-for-Thacker-Pass/default.aspx

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Robert J. Johansing, BSC. geology, MSc economic geology, who is a qualified person as defined in NI 43-101. Mr. Johansing is a consultant of the Company.

About US Critical Metals Corp.

USCM is focused on mining projects that will further secure the U.S. supply of critical metals and rare earth elements, which are essential to fueling the new age economy. USCM's assets consist of five discovery focused projects in the U.S. These projects include the McDermitt East Project located in Nevada, the Clayton Ridge Lithium Property located in Nevada, the Long Canyon Uranium Property located in Idaho, the Haynes Cobalt Property located in Idaho, and the Sheep Creek REE Property located in Montana. A significant percentage of the world's critical metal and rare earth supply comes from nations with interests that are contrary to those of the U.S. USCM intends to explore and develop critical metals and rare earth assets with near- and long-term strategic value to the advancement of U.S. interests.

For further information please contact:

Darren Collins
Chief Executive Officer & Director
Telephone: +1 (786) 633-1756
Email: dcollins@uscmcorp.com

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

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed "forward-looking information" with respect to USCM within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause USCM's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes 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. Forward-looking information contained in this press release may include, without limitation, the expected payment of remaining option payments and issuance of the related shares, exploration plans and expected exploration and drilling results at the McDermitt East, results of operations, and the expected financial performance of the Company. Although USCM believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that USCM maintains good relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; USCM's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of USCM to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with USCM's expectations; as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to USCM, including as set forth in the USCM's public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.

The forward-looking information contained in this press release represents the expectations of USCM as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While USCM may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272391

FAQ

What did US Critical Metals (USCMF) announce on October 30, 2025 about McDermitt East?

US Critical Metals completed acquisition of an initial 50% interest and secured an exclusive option to acquire the remaining 50% to reach 100% ownership of McDermitt East.

What are the option payments and deadlines for USCMF to acquire the remaining 50% of McDermitt East?

USCMF must pay CAD $25,000 within 6 months and a final CAD $500,000 (cash, shares, or combo) on or before 24 months from the amendment date.

What royalty encumbrance applies if USCMF exercises the option for McDermitt East?

The Project is subject to a 2.0% NSR royalty, of which 1.0% may be repurchased for CAD $1,000,000.

What exploration steps will USCMF take at McDermitt East after consolidating the option?

Planned work includes further data compilation, additional surface sampling and mapping, target prioritization and a maiden drill program to test the most prospective horizons.

How strong are the historical lithium assay results at McDermitt East referenced by USCMF?

USCMF referenced historical sampling results of up to 2,129 ppm lithium on the property.