York Harbour Metals Announces Sale of Firetail Shares for CAD $1.71 million and Provides Strategic Update

Rhea-AI Summary

York Harbour Metals (OTC:YORKF) has announced the sale of 25 million Firetail Resources shares, generating CAD $1.71 million in net proceeds. The company retains 54 million Firetail shares currently valued at AUD $0.094 per share and maintains a 51% interest in the York Harbour Project with a 2% net smelter royalty.

Under the option agreement, York Harbour could receive an additional 75 million Firetail shares and AUD $300,000 in cash if Firetail completes the earn-in for 80% project interest. The company would then retain a 20% free-carried interest. Firetail plans to commence drilling in 2026 following extensive geophysical work in 2025.

Positive

• Generated CAD $1.71 million in cash through strategic share sale
• Maintains significant ownership of 54 million Firetail shares
• Potential to receive additional 75 million shares and AUD $300,000 from Firetail
• Retains 51% interest in York Harbour Project with 2% net smelter royalty
• Company holds approximately CAD $1.8 million in cash position

Negative

• Reduction in ownership stake in Firetail Resources through share sale
• Project development timeline extends into 2026 for drilling commencement

Vancouver, British Columbia--(Newsfile Corp. - August 8, 2025) - YORK HARBOUR METALS INC. (CSE: YORK) (OTC Pink: YORKF) (FSE: 5DE) (the "Company" or "York Harbour") is pleased to announce that it has sold 25 million ordinary shares of Firetail Resources Limited (ASX: FTL) ("Firetail"), generating net proceeds of approximately CAD $1.71 million.

Following this sale, York Harbour holds approximately CAD $1.8 million in cash and retains ownership of 54 million ordinary shares of Firetail, which are currently trading at AUD $0.094 per share.

York Harbour continues to hold a 51% interest in the York Harbour Project along with a 2% net smelter return royalty. Under the terms of the option agreement with Firetail, York Harbour may receive an additional 75 million Firetail shares and AUD $300,000 in cash if Firetail completes the earn-in to acquire an 80% interest in the project. Upon completion of the earn-in, York Harbour will retain a 20% free-carried interest.

Firetail has been actively advancing the York Harbour Project, having completed extensive geophysical work during the spring and summer of 2025. Firetail has advised York Harbour of its intention to commence drilling in 2026.

"Firetail has been an outstanding partner for York Harbour," said Blair Naughty, CEO of York Harbour Metals. "Their geological team has done excellent work identifying new targets to expand the resource at York Harbour. In addition, Firetail has acquired a highly prospective gold project in Nevada and successfully raised an additional AUD $5 million this week at AUD $0.08 per share. We're a proud and supportive shareholder, and we couldn't be more pleased with how they're managing both the project and their broader company strategy."

York Harbour is also engaged in active discussions with several parties to advance its high-grade Bottom Brook rare earth property.

Looking ahead, the Company is positioning itself as a strategic gatherer and monetizer of undervalued assets. "This is the model I've built my career on - spotting emerging trends early, acquiring quality assets ahead of the crowd, and then capitalizing once the market catches up," added Blair Naughty, CEO. "Whether it's optioning out properties or rolling private assets into public companies, the focus is on generating value for shareholders. I plan to apply the same playbook that I've refined over 36 years in the public markets - now for the benefit of York Harbour shareholders, where I'm also a 25% owner."

About York Harbour Metals

York Harbour Metals Inc. is a Canadian exploration company focused on acquiring, developing, and strategically positioning mineral assets with strong value potential. The Company maintains a significant equity position in Firetail Resources Limited, holds an interest in the York Harbour copper-zinc project, and owns the high-grade Bottom Brook rare earth property.

On Behalf of the Board of Directors,

"Blair Naughty"
CEO and President

For further details, please contact:

Email: info@yorkharbourmetals.com
Phone: 604-346-7613 or 604-341-6870 Office
Website: https://yorkharbourmetals.com/

Forward-Looking Statements:

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "believes" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions including statements that the Company will position itself as a strategic gatherer and monetizer of undervalued assets and that it will generate value for its shareholders. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261785

FAQ

How much did York Harbour Metals (YORKF) receive from selling Firetail shares?

York Harbour Metals received CAD $1.71 million in net proceeds from selling 25 million Firetail Resources shares.

What is York Harbour Metals' current ownership in the York Harbour Project?

York Harbour Metals currently maintains a 51% interest in the York Harbour Project along with a 2% net smelter return royalty.

How many Firetail shares does York Harbour Metals still own?

York Harbour Metals retains ownership of 54 million ordinary shares of Firetail, currently trading at AUD $0.094 per share.

What additional compensation could York Harbour receive from Firetail?

York Harbour could receive an additional 75 million Firetail shares and AUD $300,000 in cash if Firetail completes the earn-in to acquire an 80% project interest.

When will Firetail begin drilling at the York Harbour Project?

Firetail has indicated its intention to commence drilling in 2026, following the completion of extensive geophysical work in 2025.