Purebase (PUBC) details contingent assignment of 2,500-acre Nevada mining lease

Rhea-AI Filing Summary

Purebase Corporation describes a material agreement for mining rights in Nevada. On June 18, 2025, U.S. Mine Corporation assigned to Purebase all of its rights and interests in a U.S. Bureau of Land Management preference right lease covering about 2,500 acres in the Weepah Hills area of Esmeralda County, Nevada.

The transfer of this lease is not yet complete. The agreement will only become effective once U.S. Mine Corporation obtains required consents from the U.S. Bureau of Land Management and Rulco LLC and the transfer is approved, so the mining rights remain contingent on those approvals.

Insights

Natural resources and mining agreements analyst

Purebase outlines a contingent lease assignment for Nevada mining rights.

Purebase Corporation reports an Assignment of Lease Agreement under which U.S. Mine Corporation has assigned its rights in a U.S. Bureau of Land Management preference right lease. The lease covers approximately 2,500 acres in the Weepah Hills area of Esmeralda County, Nevada, for mining purposes.

The transaction is conditional. The assignment will not be effective until U.S. Mine Corporation secures consent from the U.S. Bureau of Land Management and from Rulco LLC and the transfer is approved. Until those consents are in place, control of the lease and related mining rights does not formally pass to Purebase.

The agreement indicates strategic interest in these mineral rights, but its practical effect depends entirely on regulatory and counterparty approvals. Subsequent company disclosures would clarify whether the required consents are obtained and whether the lease transfer proceeds on the terms described.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report: October 9, 2025

PUREBASE CORPORATION

(Exact name of registrant as specified in its charter)

Nevada		000-55517		27-2060863
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

8631 State Hwy, 124

Ione, CA 95640

(Address of principal executive offices)

(209) 274-9143

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of exchange on which registered
None		N/A		N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry Into a Material Definitive Agreement.

On July 8, 2025, Purebase Corporation, a Nevada corporation (the “Company”), filed a Current Report on Form 8-K with the Securities and Exchange Commission to report that it had entered into that certain Assignment of Lease Agreement, dated June 18, 2025, with U.S. Mine Corporation, a Nevada corporation (“USMC”). Pursuant to the agreement, USMC assigned, transferred, and set over to the Company all rights, title, and interest held by USMC in and to the U.S. Bureau of Land Management (“BLM”) Preference Right Lease Serial No. N-62445-01 between the BLM and USMC, for mining rights to approximately 2,500 acres located on the western side of the Weepah Hills in the Mount Diablo Meridian area of Esmeralda County, Nevada, subject to the terms and conditions set forth therein.

The transfer has not been completed. In order to effectuate and finalize the transfer of the lease, USMC is required to obtain the consent of the BLM and Rulco LLC, a Nevada limited liability company. Until such consents are obtained and the transfer is approved, the Assignment of Lease will not be effective.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, Purebase has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	PUREBASE CORPORATION
Dated: October 9, 2025	By:	/s/ A. Scott Dockter
		A. Scott Dockter
		Chief Executive Officer

FAQ

What agreement did PUREBASE CORPORATION (PUBC) disclose in this 8-K?

Purebase disclosed an Assignment of Lease Agreement with U.S. Mine Corporation. The agreement assigns USMC’s rights in a U.S. Bureau of Land Management preference right lease for mining on about 2,500 acres in Nevada’s Weepah Hills area, subject to specific consents.

What mining rights are involved in PUREBASE CORPORATION (PUBC)'s lease assignment?

The agreement involves mining rights tied to U.S. Bureau of Land Management Preference Right Lease Serial No. N-62445-01. These rights cover approximately 2,500 acres on the western side of the Weepah Hills in the Mount Diablo Meridian area of Esmeralda County, Nevada, for potential mineral development.

Has the lease transfer to PUREBASE CORPORATION (PUBC) been completed?

No, the transfer has not been completed. The Assignment of Lease will only become effective after U.S. Mine Corporation obtains required consents and the transfer is approved, so Purebase does not yet have the finalized lease rights described in the agreement.

Whose consents are required for PUREBASE CORPORATION (PUBC)'s lease assignment to take effect?

The lease assignment requires consent from the U.S. Bureau of Land Management and from Rulco LLC, a Nevada limited liability company. Until both consents are obtained and the transfer is approved, the Assignment of Lease Agreement will not become effective for Purebase.

Why is the Assignment of Lease Agreement material for PUREBASE CORPORATION (PUBC)?

The agreement is material because it covers rights to a large, approximately 2,500-acre tract of land for mining. Securing interests in this U.S. Bureau of Land Management lease could influence Purebase’s future resource development activities, although effectiveness still depends on required third-party consents and approvals.