Nuvau Closes Acquisition of Matagami Property from Glencore Gains ownership and control over one of the largest, strategically located, prolific geologic environments for critical and precious metals in Quebec, Canada
Nuvau Closes Acquisition of Matagami
Property from Glencore
Gains ownership and control over one of the largest,
strategically located, prolific geologic environments for
critical and precious metals in Quebec, Canada
Toronto, Ontario--(Newsfile Corp. - March 2, 2026) - Nuvau Minerals Inc. (TSXV: NMC) (the "
Company
"
or "
Nuvau
") has achieved a significant milestone on the road toward a production restart at its flagship
Matagami Property. The Company has completed the acquisition (the "
Earn-In Transaction
"), from
Glencore Canada Corporation ("
Glencore Canada
"), of interests in certain properties comprising the
Matagami mining camp (collectively, the "
Property
"), located in the Abitibi region of central Québec,
Canada, pursuant to a second amended and restated earn-in agreement dated January 28, 2026
among the Company, Nuvau Minerals Corp. (the Company's wholly-owned subsidiary, "
Nuvau Corp.
")
and Glencore Canada (the "
Earn-In Agreement
").
"
This landmark achievement marks a major step toward our goal of the restart of mining
operations at the Matagami property," said Peter van Alphen, Nuvau's CEO. "It reflects both
our team's unwavering commitment and the strong support behind our project. We are now
eager to continue to build on our exploration momentum while advancing the technical and
economic studies required to deliver a robust restart plan for our critical mineral assets."
The Matagami mining camp is a 1,379-square-kilometre exploration and mining property, one of the
largest in Canada, and is strategically located in a prolific geological environment for both critical and
precious metals.
Figure 1: Position of Nuvau's Matagami property in Canada and within the northern Abitibi
advanced projects and operations
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The Matagami Property
Located in the northern Abitibi, the Matagami Property is comprised of 2,389 titles, including 1,237
square kilometres of exploration claims and 4.5 square kilometres of mining rights property. This
includes the past-producing:
Bracemac-McLeod mine, which is still permitted and has key infrastructure in place
Perseverance mine, with potential for shallow remnant and mineralization extension.
When combined with Nuvau's existing 138 square kilometres of exploration claims, this land package is
one of the largest mining and exploration properties in Eastern Canada.
Figure 2: Detailed map of the exploration claims and mining rights involved in the transaction.
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The transaction excludes the property rights related to the Matagami Lake Processing Plant and the
current Tailing Storage Facility, for which Nuvau has a 24-month right such rights from Glencore Canada.
Since entering into the earn-in agreement with Glencore in 2022, Nuvau has established a track record
of success on the property, including the:
Discovery of gold mineralization within the Bracemac Mine in July 2025;
Discovery of gold anomalies in till in May 2025;
Acquisition of the Thundermine property in 2024;
Extension of mineralization at the past-producing McLeod Cu-Zn deposit in 2024;
Discovery of the Renaissance Cu-Zn Volcanogenic Massive Sulfide (VMS) in 2023.
In addition, Nuvau demonstrated the economic potential of a near term production restart at the
Matagami property with the Preliminary Economic Analysis (PEA) it published in 2023.
The Company
intends to update this PEA in 2026 to include additional geological and technical information as well as
current commodity prices ahead of a Pre-Feasibility Study planned for 2027.
The PEA leverages
existing mine, processing and transportation infrastructure within the Matagami camp, all in close
proximity to the town of Matagami at the heart of the northern Abitibi.
The Earn-In Transaction
In connection with the completion of the Earn-In Transaction:
Nuvau Corp. incurred an aggregate of $30,000,000 in exploration, development and related
expenditures on the Property on or before March 25, 2025.
Glencore retained a 2% net smelter returns ("NSR") royalty on the Property, subject to an
aggregate maximum NSR royalty of 3.5% inclusive of existing royalties on any mining claim,
pursuant to a royalty agreement entered into between Glencore Canada and Nuvau Corp.
Nuvau Corp. entered into offtake agreements with Glencore Canada to purchase 100% of the
concentrates produced at the Property.
As per the terms of the Earn-In Agreement, within 60 days of the closing of the Earn-In Transaction,
Nuvau Corp. will also be required to pay Glencore Canada (i) $5,000,000 in cash, and (ii) an additional
$5,000,000 payable in cash, common shares of the Company ("
Common Shares
"), or a combination
thereof at Nuvau Corp.'s election, subject to required stock exchange and other regulatory approvals and
provided that any share issuance does not result in Glencore having beneficial ownership of more than
9.9% of the Company's issued and outstanding Common Shares immediately following issuance.
For a period of 24 months following the closing of the Earn-In Transaction, Nuvau will also retain the right
to acquire certain excluded property (including the Matagami Lake Processing Plant and Tailings
Storage Facility) from Glencore Canada for a payment of $5,000,000 (payable in cash, Common
Shares, or a combination thereof), subject to the satisfaction of certain conditions and regulatory
requirements, all as more particularly described in the Earn-In Agreement.
For more information regarding the Earn-In Transaction, please refer to the Earn-In Agreement, a copy of
which has been filed and is available on SEDAR+ (
www.sedarplus.ca
) under the Company's issuer
profile.
About Nuvau
Nuvau Minerals (TSXV: NMC) is a Canadian mining and exploration company advancing its assets
through the exploration and development stage. The Company's principal asset is the past-producing
Matagami mining district in the Abitibi region of Québec.
Nuvau controls a 1,379 square kilometre land package and benefits from access to permitted mining
infrastructure, including an option on a 3,000 tpd concentrator, through an earn-in agreement with
Glencore Canada. Its strategy combines near-term resource development and a potential mine restart
with district-scale exploration targeting zinc-copper VMS deposits and newly recognized gold potential
in the camp.
Backed by Québec investors, Nuvau is executing a multi-year exploration and resource growth program
to advance the camp toward a renewed production decision while generating new discoveries.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved
by Bastien Fresia P. Geo. (Qc), Director of Technical Services and a "qualified person" for the purposes
of National Instrument 43-101.
Further Information
Peter van Alphen
President and CEO, Nuvau Minerals Inc.
416-525-6063
Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively,
"
forward-looking statements
") within the meaning of applicable securities laws. Any statements that
are contained in this news release that are not statements of historical fact may be deemed to be
forward-looking statements. Forward-looking statements are often identified by terms such as "may",
"should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions
which are intended to identify forward-looking statements. More particularly and without limitation, this
news release contains forward-looking statements concerning: the completion and timing of any
remaining post-closing filings and registrations with governmental authorities; the timing and form of
payments contemplated by the Earn-In Agreement (including any election to satisfy a portion of such
payments in Common Shares), and if applicable, the receipt of any required stock exchange and
other regulatory approvals; the potential future acquisition of the excluded property and satisfaction of
applicable conditions related thereto; and the timing and ability of the Company to advance the
Property to production decision and the overall potential of the Property. Forward-looking statements
are not a guarantee of future performance and are based upon a number of estimates and
assumptions of management, in light of management's experience and perception of trends, current
conditions and expected developments, as well as other factors that management believes to be
relevant and reasonable in the circumstances. Readers are cautioned that assumptions used in the
preparation of any forward-looking statements may prove to be incorrect. Events or circumstances
may cause actual results to differ materially from those predicted as a result of numerous known and
unknown risks, uncertainties and other factors, many of which are beyond the control of the Company.
Factors that could cause actual results to differ materially from such forward-looking statements are
set out in the Company's public disclosure record available on SEDAR+ (
www.sedarplus.ca
) under the
Company's issuer profile. Readers are further cautioned not to place undue reliance on any forward-
looking statements, as such information, although considered reasonable by the management of the
Company at the time of preparation, may prove to be incorrect and actual results may differ materially
from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news
release, and are expressly qualified by the foregoing cautionary statement. Except as expressly
required by securities law, the Company does not undertake any obligation to update publicly or to
revise any of the included forward-looking statements, whether as a result of new information, future
events or otherwise.
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defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained herein.
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