Total Metals Completes Acquisition of Menary Gold Project
Total Metals Completes Acquisition of Menary Gold Project
March 23, 2026, Toronto, ON - Total Metals Corp. (“ Total Metals” or the “ Company”) (TSX-V: TT)
(OTCQB: TTTMF) (FSE: O4N) is pleased to announce the closing of its acquisition of the Menary Gold
Project (the “Property”), as previously announced on December 22, 2025 (the “Transaction”).
Menary Gold Project
As previously disclosed in the Company’s press release dated December 22, 2025, the Property
consists of 27 mining claims and 1 mining lease comprising an area of 276.5 hectares and is
strategically located in the Kenora Mining Division of Ontario. The Property shares a common
southern boundary with claims owned by Coeur Mining, Inc. (" Coeur"), contiguous with its Rainy
River Mine, a ~US$7 billion acquisition of New Gold Inc. that was completed on March 20, 2026.
(https://www.coeur.com/investors/news/news-details/2026/Coeur-Completes-Acquisition-of-
New-Gold/default.aspx)
Menary Property Highlights:
● Galbraith "A" Zone Grab Samples: Exceptional high-grade grab samples returning 8,120 g/t Au,
1,885 g/t Au, and 1,400 g/t Au, confirming the presence of bonanza-grade shoots.
● Galbraith "A" Channel Sampling: Continuous channel sampling across the shear structure
returned 243.00 g/t Au over 1.0 metre and 45.38 g/t Au over 1.0 metre , demonstrating width
continuity of the high-grade zones.
● Wagg Zone Drilling: Diamond drill hole MIN-11-18 intersected 16.99 g/t Au over 6.3 metres
(core length), identifying a new, previously unknown mineralized zone at depth.
● Strategic Location: The Menary Property is located approximately 65 km northwest of Fort
Frances and borders the land package of the Rainy River Mine. The recent acquisition of New
Gold by Coeur Mining for an estimated $7 billion validates the district as a premier North
American mining jurisdiction.
Transaction Details
Pursuant to the Option Agreement, the Destroismaisons granted the Company an exclusive right to
acquire a 100% interest in the Property, subject to an existing NSR (as defined below), by making
aggregate payments of $1,010,000 in cash and issuing $1,010,000 in common shares in the capital
of the Company (each, a “Share”) over a four-year period.
The consideration is structured as follows: (i) $210,000 in cash and $210,000 in Shares within five
days of TSXV acceptance (the “First Payment”); and (ii) $200,000 in cash and $200,000 in Shares on
each of the first, second, third, and fourth anniversaries of the Acceptance. Share issuances will be
priced based on the prior 20-day volume weighted average price of the Shares trading on the TSXV.
Upon completion of all payments and Share issuances, the Company will have earned a 100%
interest in the Property, subject to the net smelter royalty of four and a half percent (4.5%) payable
to Western Troy Capital Corp. (as to 3%) and William McNerney (as to 1.5%) (the “NSR”).
The Transaction was arm’s length. The First Payment, consisting of a cash payment of $210,000 and
the issuance of 507,678 common shares at a deemed price of $0.41365 per share, was made on
Friday, March 20, 2026. The shares are subject to a standard four month and one day hold period,
as required by National Instrument 45-106 – Prospectus Exemptions and are not subject to any
additional escrow or resale restrictions.
Qualified Person
Robert Penczak, M.Sc., P.Geo (Ontario), Vice President of Exploration for the Company and a
Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific
and technical information used in this news release.
About Total Metals Corp.
Total Metals Corp. is focused on its 100% owned Electrolode Project covering over 3,300 contiguous
hectares in northwestern Ontario. The Electrolode Project is targeting high-potential critical mineral
plus gold resources and targets in three favorable geologic trends, located near major mines in the
Red Lake Gold camp and is strategically located between Kinross Gold’s Great Bear Project and First
Mining Gold’s Springpole Project. The Electrolode Project is fully permitted for exploration drilling
and hosts 10 historic mineralized zones with significant expansion potential plus new, untested
targets ready for further exploration. Total Metals also owns 100% of the High Lake and West Hawk
Lake Project covering 958 hectares in two gold properties located along the Trans-Canada Highway
straddling the Manitoba / Ontario border. The Purex Zone on the High Lake property has significant
exploration potential and will be the primary target for initial exploration and potential future mining
activities. The West Hawk Lake property is comprised of a single mineral lease, located within
southeastern Manitoba.
www.totalmetalscorp.com
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in its
policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
Tyler Thorburn
President and Chief Executive Officer
(416) 873-7662
Forward-Looking Information
This press release includes “forward-looking information” that is subject to assumptions, risks and
uncertainties, many of which are beyond the control of the Company. Statements in this news
release which are not purely historical are forward looking. Although the Company believes that any
forward-looking statements in this news release are reasonable, there can be no assurance that any
such forward-looking statements will prove to be accurate. The Company cautions readers that all
forward-looking statements, are based on assumptions none of which can be assured and are
subject to certain risks and uncertainties that could cause actual events or results to differ materially
from those indicated in the forward-looking statements. Such forward-looking statements represent
management’s best judgment based on information currently available. Readers are advised to rely
on their own evaluation of such risks and uncertainties and should not place undue reliance on
forward-looking statements.
The forward-looking statements and information contained in this news release are made as of the
date hereof and no undertaking is given to update publicly or revise any forward-looking statements
or information, whether as a result of new information, future events or otherwise, unless so required
by applicable securities laws or the TSX-V . The forward-looking statements or information contained
in this news release are expressly qualified by this cautionary statement.