16:25:19 EDT Fri 05 Jun 2026
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Protium Clean Energy Corp (2)
Symbol GRUV
Shares Issued 28,355,346
Close 2026-06-04 C$ 0.22
Market Cap C$ 6,238,176
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Protium Clean enters deal to acquire Ten O'clock mine

2026-06-05 12:10 ET - News Release

Mr. Marc Branson reports

PROTIUM CLEAN ENERGY CORP. ENTERS AGREEMENT TO ACQUIRE EMMA AND TEN O'CLOCK PROPERTY

Protium Clean Energy Corp. has entered into a property purchase and sale agreement with the beneficial owners (the sellers) of the Emma prospect and the Ten O'clock mine.

Under the terms of the acquisition agreement the company is required to make a $200,000 payment and issue 10 million common shares to the sellers in exchange for the properties.

The transaction is subject to approval of the Canadian Securities Exchange. The sellers are arm's length to the company. The securities issued will be subject to a four-month-and-one-day hold from the date of issuance.

Ten O'Clock mine

The Ten O'Clock Hope mine is a historical tungsten asset strategically positioned within Nevada's renowned Gabbs tungsten district, approximately 4.5 miles northeast of Gabbs on the divide between Craig Canyon and Lodi Valley. Historical production records indicate that during 1954 to 1955 approximately 100 tons of ore averaging an estimated 1.0 per cent WO3 (tungsten trioxide) were shipped to the nearby Yaney mill.

What makes the Ten O'Clock Hope mine particularly compelling is the extensive evidence of historical mining activity across the property. Multiple underground adits, trenching systems, historic workings and large mineralized dump piles remain visible throughout the project area. Numerous high-grade trenching zones and exposed mineralized structures indicate the potential for stacked or repeating tungsten-bearing zones that remain virtually unexplored by modern exploration techniques1.

The company believes Ten O'Clock Hope may represent a rare opportunity to advance a United States-based tungsten asset at a time when global demand for secure domestic tungsten supply is accelerating. Tungsten is classified as a critical and strategic metal by the United States due to its importance in aerospace, military, semiconductor and advanced manufacturing industries, while Western supply chains remain heavily dependent on foreign production.

Importantly, the property benefits from exceptional year-round road access and nearby water availability -- a major advantage that dramatically reduces exploration and future development costs compared to remote critical metals projects. Management plans to aggressively advance the project through detailed geological mapping, geophysical surveys, channel sampling, trenching and systematic target definition programs aimed at uncovering the true scale of the mineralized system.

Emma prospect

The Emma prospect, located approximately 1.5 miles from the Ten O'Clock Hope mine along the southern edge of Lodi Valley, represents another highly prospective historical tungsten occurrence within the emerging Gabbs tungsten corridor. Historical records confirm that approximately three tons of tungsten ore grading an estimated 1.0 per cent WO3 were shipped from the property to the Yaney mill in 1955.

While historical production at Emma was limited, the project hosts multiple historic adits, trenching systems, exposed mineralized zones and substantial dump piles that collectively point toward the possibility of a much larger mineralized footprint. Early field observations suggest strong structural continuity across the property, with the potential for multiple tungsten-bearing zones extending beyond the historical workings.

Management believes Emma has the potential to evolve into a significant exploration discovery within one of Nevada's historic tungsten belts. The district itself is known for hosting high-grade tungsten mineralization associated with skarn and contact replacement systems -- geological environments capable of producing substantial tungsten deposits globally.

With tungsten prices strengthening and the United States urgently seeking secure domestic critical metals supply chains, the company believes both the Ten O'Clock Hope mine and Emma prospect are uniquely positioned to capitalize on the growing strategic importance of U.S.-based tungsten exploration projects.

Tungsten mineralization is characterized mainly by: (1) structural control (for example, veins and fracture), (2) association with highly fractured granitic intrusions, and (3) alteration greisen-type. Sn-W (antimony-tungsten) deposits re strongly connected to the granitic rock belts. They consist of a dense network of subhorizontal mineralized quartz veins, intersecting the subvertical foliation. Mineralized quartz veins emerge from a greisenized granite dome exposed in the deepest galleries of the mine. The hydrothermal re veins with a greisenized granite dome of the same age indicate that magmatic fluids may have been an important component. A deep crystallising granite under the vein system would provide a source for the high overpressures encountered in the quartz layer. These high pressures were able to open the subhorizontal vein system.

The technical and scientific information contained in this news release has been reviewed and approved by Derrick Strickland, is an independent consulting qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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