Mr. Reno Calabrigo reports

BIGHORN METALS ENTERS INTO EXPLORATION LEASE WITH OPTION TO PURCHASE AGREEMENT FOR THE MARIETTA PROJECT SITUATED WITHIN MINERAL COUNTY, NEVADA

Bighorn Metals Corp. has entered into an exploration lease with an option to purchase agreement with MSM Resources LLC, granting the company an exclusive right for exploration and option to acquire a 100-per-cent undivided interest in fee land and patented mining claims in the Marietta property, located within Mineral county, Nevada, in Silver Star mining district in the Excelsior Mountains.

Transaction terms

Under the agreement, effective Sept. 3, 2026, Bighorn has an initial term of three years, with two further three-year renewal terms available at the company's election, during which it may explore the property and elect, at any time, to exercise its option to acquire a 100-per-cent undivided interest in the property.

The company is required to make an initial lease payment of $100,000 (U.S.) to MSM within 30 days of the effective date, followed by annual minimum payments of $100,000 (U.S.) on each of the first, second and third anniversaries of the effective date. None of these lease payments will be credited against the purchase price payable on exercise of the purchase option.

To keep the option in good standing, the company is also required to incur exploration work expenditures on the property of $50,000 (U.S.) within 12 months of the effective date, a further $100,000 (U.S.) within 24 months of the effective date and a further $100,000 (U.S.) within 36 months of the effective date, for aggregate committed expenditures of $250,000 (U.S.) over the initial three-year term.

The agreement contemplates that Bighorn may exercise its option to acquire a 100-per-cent undivided interest in the property for a purchase price of $2.5-million (U.S.), the purchase price to be paid in cash. On exercise of the option, the parties are required to use diligent efforts to close the conveyance of the property within 30 days of Bighorn's notice of election, at which time the company would pay the purchase price and MSM would deliver a deed conveying a 100-per-cent undivided interest in the property free and clear of encumbrances.

At closing of the purchase option, the property will become subject to a 2.0-per-cent production royalty in favour of MSM, calculated on gross returns from the production and sale of minerals from the property. Bighorn may purchase one-half of this royalty (1.0 per cent) from MSM at any time prior to commencement of commercial production for a cash payment of $1-million (U.S.), which would reduce the royalty burden on the property to an aggregate 1.0 per cent.

The Marietta property

The Marietta property is located in the Silver Star mining district, Excelsior Mountains, Mineral county, Nevada. The property comprises two parcels held by MSM: the Marietta patents (Mineral county assessor parcel No. 009-030-03) and the Marietta town site (Mineral county assessor parcel No. 007-240-09), situated within sections 29 through 32, Township 5 North, Range 33, east of the Mount Diablo Meridian, Mineral county, Nevada.

The Marietta patents consist of 12 patented lode mining claims: the Marietta and Marietta No. 2 claims (survey No. 4263); the Glengary No. 6, Glengary No. 7, Glengary No. 11 and Marietta No. 4 claims (survey No. 4461); and the Glengary No. 1, Glengary No. 2, Glengary No. 3, Glengary No. 4, Glengary No. 12, Glengary No. 13 and Glengary No. 14 claims (survey No. 4462). The Marietta town site parcel adjoins the patented claims within Section 32 of the same township and range.

About Bighorn Metals Corp.

The company is an exploration-stage natural resource company engaged in the evaluation, acquisition and exploration of mineral properties, with a view to advancing prospective mineral properties through exploration and evaluation.

The company holds an option to acquire the Loljuh property, which is located in the Omineca mining division of British Columbia. The property consists of one claim covering a surface area of 1,656.73 hectares in the Omineca mining division of central British Columbia, Canada, 40 kilometres south of the community of Smithers or 32 kilometres west of the community of Houston. The property is prospective for porphyry copper-gold mineralization.

Geochemical work conducted in 2019 outlined several areas of anomalous gold and copper in soil. These surveys were widespread with lines 400 metres apart and samples taken on 200-metre centres. Rock sampling in 2019 also returned anomalous values of copper and gold from several sites within the plateau area. The aeromagnetic survey outlined several areas of alteration.

We seek Safe Harbor.