Mr. Timothy Ko reports
CLARITY ENTERS AGREEMENT TO ACQUIRE IDAHO COPPER PROJECT
Clarity Metals Corp. has entered into a mineral claims purchase agreement dated Sept. 22, 2026, with BG Copper Corp. (the vendor), an arm's-length party, pursuant to which Clarity agreed to purchase an 80-per-cent interest in and to certain mineral claims located in Lemhi county, Idaho, from the vendor, which claims collectively known as the Bobcat project. The balance of the interest in the property is owned by Kluane Capital FZCO and Cloudbreak Discovery PLC, each of which has a 10-per-cent carried interest in the property until Clarity obtains a positive prefeasibility study concluding that the development of the property is technically feasible and economically viable, after which the parties intend to form a joint venture to develop the property.
Project highlights:
- Historic mapping indicates a large alteration footprint indicative of a porphyry system.
- Historic drill results including 100.13 metres containing 0.36 per cent copper from 74.83 metres in DDH BC-1.
- Including 32.01 m of 0.57 per cent copper from 134.11 m.
- Lang mine -- 1930s underground gold producer (approximately 5,000 ounces reported) on a north-south shear on Napoleon Ridge, with a six m chip sample in the crosscut returned 1.55 g/t Au; the structure is untested at depth.
Pursuant to the agreement, Clarity has agreed to issue to the vendor 20 million units with a deemed price of five cents per unit, with each unit comprising one common share in the capital of the company and one warrant entitling the holder thereof to acquire one additional share at an exercise price of 10 cents per warrant share for a period of five years from the closing date. The shares will be subject to a statutory four month and one day hold period from the date of issuance. There will be no finders' fees paid in connection with the acquisition.
Closing of the acquisition remains subject to, without limitation, receiving all necessary consents and approvals, including the approval of the Canadian Securities Exchange (the CSE), as well as the satisfaction of customary closing conditions. Clarity expects to complete the acquisition in September, 2026.
About the Bobcat project
Located 20 kilometres north of Salmon, Idaho, centrally located near the northern border with Montana, the property comprises 50 unpatented lode mining claims covering approximately 418.63 hectares in Lemhi county, Idaho, within the Salmon-Challis National Forest. The property hosts a copper porphyry system associated with an Eocene intrusive complex. To date, two mineralized centres have been identified, across a district-scale alteration footprint. Historic exploration by Cominco American, Corona and BHP between 1977 and the mid-1990s included geological mapping, soil and rock geochemistry, induced polarization surveying and diamond drilling, which confirmed copper mineralization at surface and at depth, including a potential zone of supergene chalcocite enrichment. Surface sampling completed in 2019 confirmed widespread porphyry-style alteration and copper mineralization across the property. Portions of the system, including copper mineralization exposed on the western flank of Napoleon Ridge, remain untested by drilling.
Highlights of historic work includes drilling conducted by Cominco American between 1977 and 1981 tested the Bobcat Gulch porphyry system with five widely spaced diamond drill holes totalling approximately 6,549 feet (1,996 m). Reported results include 100.13 m of 0.36 per cent copper from 74.83 m, including 32.01 m of 0.57 per cent copper from 134.11 m, in hole BC-1; as well as 44.20 m grading 0.27 per cent copper in hole BC-2 starting from 60.35 m; and 2.44 m of 1.02 per cent copper within chalcocite mineralization in hole BC-5. The chalcocite is interpreted to represent a supergene enrichment blanket.
Additional work conducted on the property includes soil and rock sampling, ground IP and EM surveys, and drilling was completed on the property by subsequent operators through the mid-1990s. The property also contains the Lang mine, which is a historic underground operation on the east side of Napoleon Ridge. Developed in the 1930s with a 30 m crosscut and a 180 m drift and several stope levels on a north-south trend and westerly dipping bedding-plane shear; reported production approximately 5,000 ounces gold.
Qualified person
The scientific and technical information contained in this news release has been reviewed and approved by Rory Kutluoglu, BSc, PGeo, a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Kutluoglu is a professional geologist registered with Engineers and Geoscientists British Columbia (EGBC) and a fellow of both the Society of Economic Geologists and Geological Society of London.
About Clarity Metals Corp.
Clarity Metals is a Canadian mineral exploration company focused on the acquisition, exploration, and development of precious and base metals projects. Clarity's exploration mandate is global and focused on countries with established legal and regulatory systems supporting mining investment. The company's flagship asset is the Fecteau gold project, covering approximately 5,247.47 hectares in Quebec's Abitibi greenstone belt, situated proximal to Gold Fields' Windfall Lake camp (formerly Osisko Mining Inc.) and Bonterra Resources' projects. The company is based in Vancouver, B.C., and is listed on the Canadian Securities Exchange under the symbol CMET.
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