Supreme Critical Metals Inc. Announces Amendment to Uranium Property Option, Relinquishes Nickel Property
Rhea-AI Summary
Supreme Critical Metals (OTCID:VRCFF) has announced significant changes to its property portfolio. The company has amended its option agreement with Yellow Chief Uranium, eliminating all cash and work obligations. Instead, Supreme will only need to issue 8 million shares to acquire 100% interest in the Yellow Chief properties, with 4 million shares to be issued immediately and the remainder in one year.
The Yellow Chief properties include 5 claims covering 3,513.2 ha in Saskatchewan and 28 claims covering 130.1 ha in Utah, including part of the former Yellow Chief Mine. Additionally, Supreme has relinquished its interest in the Saguenay Nickel Project in Quebec to focus on assets with clearer production potential.
Positive
- Simplified acquisition terms for Yellow Chief properties - eliminated cash and work obligations
- Strategic focus on uranium assets with historical production potential
- Portfolio optimization through divestment of non-core nickel assets
Negative
- 8 million share issuance will cause significant shareholder dilution
- Complete exit from nickel exposure reduces diversification
News Market Reaction
On the day this news was published, VRCFF gained 49.25%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESS Newswire / July 7, 2025 / Supreme Critical Metals Inc. (CSE:CRIT)(FWB:VR61)(OTCID:VRCFF) ("Supreme" or the "Company") today announces that it has amended the terms of its arms-length option with Yellow Chief Uranium Inc. dated June 26, 2024. The parties agreed that all cash and work obligations payments would be deleted from the option, with the Company only needing to issue another 8 million shares in order to optain a
The Yellow Chief properties consist of 5 claims covering 3,513.2 ha in Saskatchewant and 28 claims covering 130.1 ha in Utah. The Utah property consists of a portion of the former Yellow Chief Mine, which was developed from 1959 to 1962 as an open pit mine.
Supreme also announced it has relinquished its interest in the Saguenay Nickel Project, found in the province of Quebec. The decision follows a thorough strategic review and aligns with the Company's long-term objectives to focus on assets with a clear and sustainable path to production.
About Supreme Critical Metals Inc.
SUPREME CRITICAL METALS INC. is a publicly traded diversified investment corporation actively exploring and investigating multiple opportunities in lithium, copper, silver, and precious metals. The Company adheres to strategic guidelines that prioritise regions conducive to mining, supported by favourable government regulations and existing infrastructure.
For further information, please contact:
George Tsafalas, Director
Phone: Toll Free 1(778) 373-8578
E-mail: info@supremecritalmetals.com
www.supremecriticalmetals.com
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information"). Such forward-looking information is provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipate", "proposed", "estimates", "would", "expects", "intends", "plans", "may", "will", and similar expressions, although not all forward-looking information contain these identifying words.
More particularly and without limitation, the forward‐looking information in this news release includes expectations regarding the Company's business plans and operations. Forward-looking information is based on a number of factors and assumptions that have been used to develop such information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. The forward-looking information in this news release reflects the Company's current expectations, assumptions and/or beliefs based on information currently available to the Company.
Whether actual results, performance, or achievements will conform to Supreme's expectations and predictions is subject to a number of known and unknown risks and uncertainties, which could cause actual results and experience to differ materially from Supreme's expectations. Such material risks and uncertainties include, but are not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of this release.
SOURCE: Supreme Critical Metals Inc.
View the original press release on ACCESS Newswire
FAQ
What are the new terms of Supreme Critical Metals' (VRCFF) option agreement with Yellow Chief Uranium?
What properties are included in Supreme Critical Metals' Yellow Chief uranium portfolio?
Why did Supreme Critical Metals (VRCFF) relinquish the Saguenay Nickel Project?
What is the historical significance of the Yellow Chief uranium property in Utah?
