Total Metals Company (“Total Metals” or the “Company”) (TSX-V: TT) (Otkbk: tmf) (FSE: O4N) is pleased to announce that it has acquired a 100% stake (“acquisition“) in the mineral rights underlying the Pick Lake Critical Minerals property (“project“) from Frontier Energy Limited (ASX: FHE) (“border“) and Frontier’s wholly-owned subsidiary, Pick Lake Mining Limited (“Choose a lakeThe acquisition was completed pursuant to the Purchase and Sale Agreement dated April 15, 2026 (“).Purchase agreement“).
“This project is one of the finest, highest-quality, significant mineral assets in the world,” said Tyler Thorburn, President and CEO. “Pick Lake is located in a prolific mining region in northwestern Ontario and aligns with our goal of acquiring and developing exciting, high-quality Canadian assets in Tier 1 mining areas.”
“The upside of exploration at Peak Lake is absolutely exceptional,” commented Michael Dehn, Executive Chairman of the Board of Directors. “When you look at the sheer size of this expansive package of land and the concentration of historic mineral events that have barely been scratched by modern techniques, the potential for new discoveries is incredibly exciting. We have a strong portfolio of historic targets with all the right geological signatures ready to pursue. We’re eager to get to work and uncover the true potential of this high-quality, region-wide system.”
Select the Critical Mineral Lake property
The Pick Lake property, consisting of 75 claims and mining leases covering more than 5,260 hectares, is accessible via a road connected to the Trans-Canada Highway to the south.
The property is located within the Lake Winston Greenstone Belt which is part of the Archean Wawa-Abitibi Terrane in the Upper Canadian Shield Province. Within the Lake Winston Greenstone Belt, the Lake Winston Sequence consists of a series of felsic to mesovolcanics, volcanics and sediments with minor mafic flows, all of calc-alkaline affinity. The sequence reaches a maximum thickness of 2 km and a strike of about 6 km. A gabbroic intrusion marks the connection to the adjacent Peck Duck Lake complex which occupies the northern third of the property. The Big Duck Lake group and subsequent ore intrusions are known to host many gold events in the belt.
The Peak Lake deposit, within the Peak Lake Critical Mineral Property, has an average length of approximately 250 meters and a depth extension between 300 to 1,200 meters has been tested. Mineralization at Beck consists of fine to medium-grained sphalerite and peridotite, with minor chalcopyrite and pyrite.
Selected drilling results from the lower Pick Lake Deposit area:
The calculated resource is:
Indicates 1.78 mt @ 19.2% Zn, 0.9% Cu, 0.3 g/t Au and 36.1 g/t Ag; Inferred 270 kt at 16.4% Zn, 1.0% Cu, 0.3 g/t Au and 38.0 g/t Ag NI43-101 2.2a**
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**Historical mineral resource estimates for the Peck Lake deposit were prepared by independent resource consultant MASSA Geoservices. Mineral resources were estimated and reported as of October 15, 2020, using a minimum of 3% zinc, and are summarized in the statement and table above.
Transaction details
Pursuant to the acquisition, the Company paid Pick Lake Mining Limited C$2,200,000 in cash for the project. No securities were issued in connection with the acquisition. The Acquisition is considered an arm’s length transaction for purposes of the policies of the TSX Venture Exchange (“TSXV”) and qualifies as an “Exempt Transaction” under TSXV Policy 5.3. No finder’s fees were paid in connection with the acquisition. For further information regarding the acquisition, please refer to the APA, a copy of which is available on the Company’s SEDAR+ profile at www.sedarplus.ca.
There is a current royalty fee of 2% NSR payable to a previous owner of the property, 50% of which can be bought back for C$1.0 million.
The acquisition is not considered a “core acquisition” for the Company, in accordance with TSXV policies, as the Company remains focused on exploring and developing its Electrolode Project, of approx. C$2,400,000 has been spent on the property to date. The electrode project remains a physical property of the company and is expected to be the focus of the company over the next 12 months. The acquisition took place within the normal course of the company’s operations.
Qualified person
Robert Penczak, MSc, P.Geo (Ontario), the Company’s Vice President of Exploration and a Qualified Person as defined in National Instrument 43-101, has reviewed and approved the scientific and technical information used in this news release.
About Total Metals
Total Metals Corp. is 100% focused on what it owns. electrode The project covers more than 3,300 contiguous hectares in northwestern Ontario. the electrode The project targets high potential critical mineral resources as well as gold resources and targets three favorable geological trends, is located close to the major mines in the Red Lake Gold Camp, and is strategically located between Kinross Gold’s Great Bear Project and First Mining Gold’s Springpole Project. the electrode The project is fully permitted for exploratory drilling and hosts 10 historic mineralized zones with significant expansion potential as well as new untested targets ready for further exploration. Total minerals It also owns 100% of High Lake and West Hawk Lake The project covers 958 hectares on two golden properties located along the Trans-Canada Highway on either side of the Manitoba/Ontario border. Purex area on High lake The property has significant exploration potential and will be the primary target for initial exploration and potential future mining activities. the West Hook Lake The property consists of a single mineral lease and is located in southeastern Manitoba.
www.totalmetalscorp.com
Cautionary statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
Tyler Thorburn
President and CEO
(416) 873-7662
Forward-looking information
This press release contains “forward-looking information” that is subject to assumptions, risks and uncertainties, many of which are beyond the company’s control. Statements in this press release that are not strictly historical are forward-looking. Although the Company believes that any forward-looking statements contained in this press release are reasonable, there can be no assurance that any such forward-looking statements will be accurate. The Company cautions readers that all forward-looking statements are based on assumptions, none of which can be guaranteed, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward-looking statements. These forward-looking statements represent management’s best judgment based on currently available information. Readers are advised to rely on their own assessment of such risks and uncertainties and should not place undue reliance on forward-looking statements.
The forward-looking statements and information contained in this press release are made as of the date hereof and no obligation is made to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required to do so under applicable securities laws or the TSX-V. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
