The TSX Venture Exchange has accepted for filing documentation pertaining to an asset purchase agreement dated Oct. 20, 2025, between Total Metals Corp. and McFarlane Lake Mining Ltd. Pursuant to the agreement, the company is acquiring 100 per cent of the High Lake and West Hawk Lake mineral properties. The total consideration for the acquisition is $9.25-million, which will be paid through a cash component of $7.25-million and the issuance of 3,333,333 common shares to the vendor at a deemed price of 60 cents per share. The purchased assets are being acquired subject to a pre-existing 2-per-cent net smelter return (NSR) royalty on the High Lake mining leases.

The transaction is arm's length in nature and no finder's fee is payable.

For more information, please refer to the company's news release dated Sept. 24, 2025, and Oct. 28, 2025.