Nine Mile Metals (CSE: NINE, OTCQB: VMSXF) has maintained its option to purchase the remaining 50% of the Nine Mile Brook Project through a third anniversary payment to Fiddlehead Mining Corp. Instead of the required $50,000 cash payment, the company issued 3,333,333 common shares at $0.015 per share. The $150,000 annual work expenditure requirement has been deferred to the fourth year. The Nine Mile Brook Project spans 50.02 square kilometers across 229 mining claims, located 10km west of the Brunswick #12 Mine. Previous drill program results showed exceptional grades, including samples with up to 18.30% Cu, 2.45% Pb, 2.03% Zn, 173 g/t Ag, and 1.13 g/t Au. The company plans to resume exploration in Fall 2025, utilizing advanced geophysics and 3D modeling to guide their drilling program.
Nine Mile Metals (CSE: NINE, OTCQB: VMSXF) ha mantenuto l'opzione di acquistare il restante 50% del Progetto Nine Mile Brook tramite un pagamento per il terzo anniversario a Fiddlehead Mining Corp. Invece del pagamento in contanti richiesto di 50.000 dollari, la società ha emesso 3.333.333 azioni ordinarie al prezzo di 0,015 dollari per azione. Il requisito di spesa annuale per lavori di 150.000 dollari è stato posticipato al quarto anno. Il Progetto Nine Mile Brook si estende su 50,02 chilometri quadrati e comprende 229 concessioni minerarie, situato a 10 km a ovest della miniera Brunswick #12. I risultati dei precedenti programmi di perforazione hanno mostrato grade eccezionali, con campioni contenenti fino al 18,30% di rame (Cu), 2,45% di piombo (Pb), 2,03% di zinco (Zn), 173 g/t di argento (Ag) e 1,13 g/t di oro (Au). La società prevede di riprendere l'esplorazione nell'autunno 2025, utilizzando geofisica avanzata e modellazione 3D per guidare il programma di perforazione.
Nine Mile Metals (CSE: NINE, OTCQB: VMSXF) ha mantenido su opción para adquirir el 50% restante del Proyecto Nine Mile Brook mediante un pago en el tercer aniversario a Fiddlehead Mining Corp. En lugar del pago en efectivo requerido de 50,000 dólares, la compañía emitió 3,333,333 acciones ordinarias a 0.015 dólares por acción. El requisito anual de gasto en trabajos de 150,000 dólares se ha pospuesto para el cuarto año. El Proyecto Nine Mile Brook abarca 50.02 kilómetros cuadrados y comprende 229 concesiones mineras, ubicado a 10 km al oeste de la mina Brunswick #12. Los resultados de programas de perforación anteriores mostraron grados excepcionales, con muestras que contenían hasta 18.30% de cobre (Cu), 2.45% de plomo (Pb), 2.03% de zinc (Zn), 173 g/t de plata (Ag) y 1.13 g/t de oro (Au). La compañía planea reanudar la exploración en otoño de 2025, utilizando geofísica avanzada y modelado 3D para guiar su programa de perforación.
Nine Mile Metals(CSE: NINE, OTCQB: VMSXF)는 Fiddlehead Mining Corp.에 대한 3주년 지급을 통해 Nine Mile Brook 프로젝트의 나머지 50%를 인수할 수 있는 옵션을 유지했습니다. 요구된 5만 달러 현금 지급 대신, 회사는 주당 0.015달러에 3,333,333주 보통주를 발행했습니다. 연간 15만 달러 작업 지출 요건은 4년차로 연기되었습니다. Nine Mile Brook 프로젝트는 229개의 광산 청구권에 걸쳐 50.02 평방킬로미터에 달하며 Brunswick #12 광산에서 서쪽으로 10km 떨어진 곳에 위치해 있습니다. 이전 시추 프로그램 결과는 최대 18.30% 구리(Cu), 2.45% 납(Pb), 2.03% 아연(Zn), 173 g/t 은(Ag), 1.13 g/t 금(Au)을 포함하는 뛰어난 등급을 보여주었습니다. 회사는 2025년 가을에 고급 지구물리학과 3D 모델링을 활용하여 시추 프로그램을 재개할 계획입니다.
Nine Mile Metals (CSE : NINE, OTCQB : VMSXF) a maintenu son option d'acquérir les 50 % restants du projet Nine Mile Brook via un paiement à l'occasion du troisième anniversaire à Fiddlehead Mining Corp. Au lieu du paiement en espèces requis de 50 000 $, la société a émis 3 333 333 actions ordinaires au prix de 0,015 $ par action. L'exigence de dépenses annuelles de 150 000 $ a été reportée à la quatrième année. Le projet Nine Mile Brook s'étend sur 50,02 kilomètres carrés et comprend 229 concessions minières, situé à 10 km à l'ouest de la mine Brunswick #12. Les résultats des programmes de forage précédents ont montré des teneurs exceptionnelles, avec des échantillons contenant jusqu'à 18,30 % de Cu, 2,45 % de Pb, 2,03 % de Zn, 173 g/t d'Ag et 1,13 g/t d'Au. La société prévoit de reprendre l'exploration à l'automne 2025, en utilisant la géophysique avancée et la modélisation 3D pour orienter son programme de forage.
Nine Mile Metals (CSE: NINE, OTCQB: VMSXF) hat seine Option zum Kauf der verbleibenden 50 % des Nine Mile Brook Projekts durch eine dritte Jubiläumszahlung an Fiddlehead Mining Corp. aufrechterhalten. Anstelle der erforderlichen Barzahlung von 50.000 US-Dollar gab das Unternehmen 3.333.333 Stammaktien zu je 0,015 US-Dollar aus. Die jährliche Arbeitsaufwandsanforderung von 150.000 US-Dollar wurde auf das vierte Jahr verschoben. Das Nine Mile Brook Projekt erstreckt sich über 50,02 Quadratkilometer und umfasst 229 Bergbaulizenzen, gelegen 10 km westlich der Brunswick #12 Mine. Frühere Bohrprogrammergebnisse zeigten außergewöhnliche Gehalte, darunter Proben mit bis zu 18,30 % Cu, 2,45 % Pb, 2,03 % Zn, 173 g/t Ag und 1,13 g/t Au. Das Unternehmen plant, die Erkundung im Herbst 2025 wieder aufzunehmen und dabei fortschrittliche Geophysik und 3D-Modellierung zur Steuerung ihres Bohrprogramms einzusetzen.
Positive
Project maintains strategic option agreement through share issuance instead of cash payment
Previous drill results showed high-grade mineralization with up to 18.30% copper
Project located near world-famous Brunswick #12 Mine
Company has extensive geophysical data and 3D modeling capabilities for future exploration
Negative
Deferral of $150,000 work expenditure requirement suggests possible cash constraints
Share issuance for payment may indicate limited cash availability
Exploration activities delayed until Fall 2025
Toronto, Ontario--(Newsfile Corp. - June 18, 2025) - NINE MILE METALS LTD (CSE: NINE) (OTCQB: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") announces that it has proceeded with its third anniversary payment under its option to Purchase the remaining 50% of the Nine Mile Brook Project, dated November 28th, 2021, (the "Option Agreement") with Fiddlehead Mining Corp. ("Fiddlehead"). On January 17th, 2025, the Company received an extension from Fiddlehead until March 28th, 2025. To maintain the Option, the Company was required to pay $50,000 cash payment and complete $150,000 work in expenditures by the anniversary date. The company has successfully negotiated the cash payment and issued 3,333,333 common shares as payment, at a deemed price of $0.015. In addition, Fiddlehead has agreed to add the annual $150,000 minimum work expenditure commitment to the 4th year requirements.
This successfully allows Nine Mile Metals to keep the Option Agreement in Good Standing and pursue its priority exploration of the Flagship Nine Mile Brook VMS Project and its goal to discover additional High Grade VMS Len's.
The Nine Mile Brook Project consists of 50.02 square kms over 229 mining claims, 10kms west of the World-Famous Brunswick #12 Mine. Below is a summary of the 2022 Drill Program Certified Assay Results, previously announced, displaying the exceptional grades of the Nine Mile Brook Lens. (see Table 1 below)
Table 1: Nine Mile Brook VMS Lens Drill Program Certified Assay Results
"The team is looking forward to returning to Nine Mile Brook in Fall of 2025. With abundant geophysical targets already defined, drill hole selection involves the integration of our extensive datasets including the UAV magnetics, I.P. and Borehole electromagnetics (BHEM) and previous drill hole data, into a 3D model to best leverage the information. The Bathurst Mining Camp is structurally complex and having less than 1% outcrop, the team is committed to following the science and in particular, the advanced geophysics to guide us to success," stated Gary Lohman, VPX & Director.
Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company's primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East-West) VMS and the Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.
The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101") and reviewed and approved by Gary Lohman, B.Sc., P. Geo., VP Exploration and Director who acts as the Company's Qualified Person and is not independent of the Company.
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek, "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
What are the terms of Nine Mile Metals' third anniversary payment for the Nine Mile Brook Project?
Nine Mile Metals issued 3,333,333 common shares at $0.015 per share instead of a $50,000 cash payment, and deferred the $150,000 work expenditure requirement to the fourth year.
What were the highest-grade drill results from Nine Mile Metals' (VMSXF) Nine Mile Brook Project?
The highest-grade results included samples with up to 18.30% Cu, 2.45% Pb, 2.03% Zn, 173 g/t Ag, and 1.13 g/t Au.
Where is the Nine Mile Brook Project located and how large is it?
The Nine Mile Brook Project covers 50.02 square kilometers across 229 mining claims, located 10 kilometers west of the Brunswick #12 Mine.
When will Nine Mile Metals (VMSXF) resume exploration at Nine Mile Brook?
Nine Mile Metals plans to resume exploration at Nine Mile Brook in Fall 2025.
What exploration methods is Nine Mile Metals using at the Nine Mile Brook Project?
The company is using UAV magnetics, I.P., Borehole electromagnetics (BHEM), and previous drill hole data integrated into a 3D model to guide exploration.
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