On Tuesday 04 14, 2026 at 8:30AM ET Core Critical Metals Corp. Announces Closing of the Option for the Lucky Mike Silver-Copper-Tungsten Project
On Tuesday 04 14, 2026 at 8:30AM ET
Core Critical Metals Corp. Announces Closing of the Option
for the Lucky Mike Silver-Copper-Tungsten Project
VANCOUVER, BC / ACCESS Newswire / April 14, 2026 /
Core Critical Metals Corp. ("CCMC" or the "Company") (TSXV:CCMC)(OTC PINK:CCMCF) (WKN:A41G8G), a North
American mineral acquisition and exploration company, is pleased to announce the closing of the option to acquire the Luck
Mike Silver-Copper-Tungsten property (the "Property") pursuant to an option agreement dated February 18, 2026, as amended
(the "Option Agreement") between the Company and First Atlantic Nickel Corp. (TSXV: FAN)("FAN"). Pursuant to the Option
Agreement, the Company has the right to purchase up to an eighty percent (80%) interest in the Property from FAN (the
"Property Interest").
As previously disclosed, the Property consists of 37 claims totaling approximately 7,675 hectares and is an advanced exploration
project located roughly equal distance between Kamloops and Merritt, BC, adjacent to the major Coquihalla Highway near the
Surrey Lake summit.
Property Highlights
Prime Location in a Safe Jurisdiction: LMSL is situated in British Columbia's premier copper porphyry and gold mining
belt, offering access to established mining infrastructure.
Strategic Proximity to Major Operations: LMSL is located adjacent to Teck's Highland Valley Copper Mine (Canada's
largest, producing 127,000 tonnes of copper in 20251), on trend with New Gold's New Afton and Copper Mountain Mine,
enhancing discovery odds in a high-success area2.
Teck recently announced its mine life extension plan for Highland Valley, moving the mine's closure date from 2028 out to 2046
with a capital investment of $2.1 to $2.4 billion, making it the largest critical minerals investment in B.C. history.
Significant Historic Copper Resource: Hosts a 73.5 million tonne historic estimate at 0.27% CuEq equating to
approximately 402 million pounds of contained copper3,4,5.
Strong Tungsten Potential: In 1943 the Strategic Metals Committee part of the Wartime investigation for Tungsten drilled
14 diamond drill holes over a 100 metre strike length. Eight holes intersected a weighted average of 0.312% WO3 over an
average width of 25 feet5.
Untapped Exploration Upside: Features a 7-kilometer skarn alteration footprint indicating multiple porphyry centers,
with AI analysis identifying high-priority, untested targets for potential grade improvements at depth.
High-Grade Intercepts and Showings: Historic drilling identified 5.4% Cu in samples and 789 meters at 0.16% Cu, plus
volcanic breccias up to 0.4% Cu, signaling strong mineralization potential.
Drill-Ready and Permitted: Fully permitted with new targets verified by independent AI, ready for immediate drilling to
vector toward porphyry cores.
Excellent Infrastructure Access: Benefits from a well-developed network of logging roads, proximity to power, water,
and local labor in the Nicola Mining District, just 20 km north of Merritt.
Experienced Management Team: Led by a skilled group with decades in exploration, finance, and operations, including
recent porphyry discoveries and successful fundraising for value creation.
District-Scale Potential: Controls a large 120+ square kilometer land package with cluster-style mineralization, positioned
between recent discoveries by Tower Resources and Kodiak Copper.
Figure 1 - Project location map1.
Transaction Details
Pursuant to the Option Agreement, FAN granted the Company an exclusive right to acquire an eighty percent (80%) interest in
the Property, subject to an existing NSR (as defined below) and the Additional NSR, by making aggregate payments of cash and
common shares in the capital of the Company (each, a "Share") over a three-year period.
The consideration is structured as follows: (i) $150,000 in cash on the closing date of the Option Agreement (the "Effective
Date"); (ii) $200,000 in Shares, with the Share value equal to the higher of (a) 372,439 Shares, or (b) volume weighted average
price ("VWAP") of the 20 trading days preceding the issuance of the Shares prior to the second anniversary of the Effective Date;
and (iii) $300,000 in Shares, with the Share value equal to the higher of (a) 588,659 Shares, or (b) volume weighted average price
("VWAP") of the 20 trading days preceding the issuance of the Shares prior to the second anniversary of the Effective Date
(collectively, the "Initial Consideration") prior to the fifth anniversary of the Effective Date . In order to earn the Property
Interest, the Company will further have to incur qualified expenditures in an amount equal to $300,000 on the Property prior to
the first anniversary date of the Effective Date; and incur qualified expenditures in an amount equal to $5,700,000 on the
Property prior to the third anniversary of the Effective Date (the "Initial Expenditures"). Once the Initial Consideration and
Initial Expenditures have been satisfied, the Company shall earn an interest in the Property equal to seventy percent (70%) (the
"Initial Property Interest").
The Company may earn an additional ten percent (10%) interest in the Property (the "Additional Property Interest") by
incurring expenditures in an amount equal to $10,000,000 prior to the 10th anniversary of the Effective Date. Following the
earning of the Additional Property Interest, FAN and the Company will enter into a Joint Venture agreement ("JV Agreement")
governing the terms of a joint venture (the "JV") between the parties. Under the terms of the JV Agreement, each of FAN and
CCMC will be responsible for their pro rata share of exploration expenditures at the Property with CCMC remaining the operator
of the Property.
In the event that FAN elects not to contribute its pro rata share, its participating interest shall be diluted. If, as a result of such
dilution, FAN's participating interest is reduced to ten percent (10%) or less (the "Conversion Threshold"), FAN shall be
deemed to have withdrawn from the JV and its remaining participating interest shall be automatically converted into a 3% net
smelter royalty (the "Additional NSR") with a 2% buyback by the Company for $7,500,000 (the "Dilution Royalty"). Upon
such conversion, FAN shall have no further right to participate in the Property, nor any obligation to contribute to future
expenditures.
Notwithstanding the above, CCMC shall, at its sole cost, fund one hundred percent (100%) of all expenditures approved in the
annual work program and budget for the Property until the delivery of a Feasibility Study (the "Carry End Date").
FAN shall not be required to contribute any capital to the JV prior to the Carry End Date, and its participating interest shall not be
subject to dilution during such period.
The Option Agreement is arm's length. The initial payment, consisting of a cash payment of $150,000 was made April 14, 2026.
Any Shares issued pursuant to the Option Agreement 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. No
finder's fees are payable in connection with the Option Agreement. The Property is currently subject to a 2% net smelter royalty
(the "NSR").
Corporate Update - Semi-Annual Financial Reporting
The Company is also pleased to announce that it has elected to rely on Coordinated Blanket Order 51-933 and move to semi-
annual financial reporting.
Coordinated Blanket Order 51-933 allows eligible venture issuers listed on the TSX Venture Exchange to voluntarily move from
a quarterly to a semi-annual financial reporting framework. Under the semi-annual financial reporting pilot program, the
company will be exempt from filing interim financial reports and related management discussion and analysis (MD&A) for its
first and third quarters:
Interim period: The Company will not file an interim report and related MD&A for the three months ended June 30, 2026
(Q1), and the Company will not be required to file any interim financial reports and related MD&A for any subsequent
quarters ending December 31 (Q3) or June 30 (Q1) in each financial year.
Continuing reporting: The Company will continue to file audited annual financial statements (due within 120 days of its
March 31 financial year-end) and six-month interim financial reports (due within 60 days of September 30).
The Company confirms it meets the pilot program's eligibility criteria, which include being a venture issuer with annual revenues
of less than $10-million and maintaining a clean 12-month continuous disclosure record.
This news release is being filed pursuant to Coordinated Blanket Order 51-933, Exemptions to Permit Semi-Annual Reporting for
Certain Venture Issuers.
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Deepak Varshney, P.Geo., Chief Executive
Officer and a Director of the Company, who is a "Qualified Person" as defined by National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101").
About Core Critical Metals Corp.
Core Critical Metals Corp. is a North American mineral acquisition and exploration company focused on the development of
quality critical metal properties that are drill-ready with high-upside and expansion potential.
CORE CRITICAL METALS CORP.
Deepak Varshney, CEO and Director
For more information, please call 778-899-1780, email [email protected] or visit www.xanderresources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notes and References:
1. https://www.teck.com/news/news-releases/2026/teck-announces-2025-production-and-sales-update-and-reaffirms-outlook.
2. Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Property.
3. The above referenced resource estimates do not have a category, are considered historical in nature, and are based on prior
data prepared by a previous property owner, and do not conform to current CIM categories. A qualified person has not done
sufficient work to classify the historical estimates as current resources in accordance with current CIM categories and the
Company is not treating the historical estimates as a current resource. Significant data compilation, re-drilling, re-sampling
and data verification may be required by a qualified person before the historical estimates can be classified as current
resources. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become
economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic
viability. The Company is not aware of any more recent estimates prepared for the Property.
4. Sookochoff, L (1974), Memo - Resource Estimate, W.A. Dexter & Le Bourgh; R. Tough & Associates Ltd.; BC Property
File No. 10721.
5. Smyth, W.R. (1985), Memo - Rey Lake Copper Deposit, Ministry of Energy, Mines and Petroleum Resources; BC Property
File No. 10719.
6. Turner, J. (2013), Technical Report NI43-101 for the Lucky Mike Copper-Tungsten Property, Merritt, BC, Nicola Mining
District; Plate Resources Inc.; 80 pages.
Forward-looking statements:
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable
Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements are statements that are not
historical facts and are generally identified by words such as "expects", "plans", "intends", "anticipates", "believes", "estimates",
"may", "will", "should", "could" and similar expressions. Forward-looking statements in this news release include, but are not
limited to, statements regarding: the Company's ability to satisfy the cash and/or share payment obligations and incur the
required expenditures to earn an interest in the Property under the Option Agreement; the timing and likelihood of the Company
earning the Initial Property Interest and the Additional Property Interest; the timing and terms for formation of a JV following
completion of the earn-in; the Company's proposed exploration and development plans and potential work programs on the
Property (including any drill programs or target generation initiatives); the use and expected benefits of any data analytics or
artificial intelligence-supported targeting; and the potential to validate, or otherwise advance any historic mineral resource
estimate or historic exploration results referenced in this news release.
Forward-looking statements are based on management's reasonable assumptions, estimates and opinions as of the date of this
news release. Such assumptions include, without limitation: that the Company will obtain all required approvals, including
acceptance by the Exchange,, and that the Company will be able to complete any share issuances contemplated under the Option
Agreement subject to Exchange acceptance; that the Company will be able to access required funding on acceptable terms; that
the Company will be able to obtain all necessary corporate, regulatory and stock exchange approvals; that the Company will be
able to carry out exploration activities as planned; that exploration results will be consistent with management's expectations;
that contractors and service providers will perform as expected; and that general business and economic conditions will remain
supportive of the Company's plans.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or
events to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties
include, but are not limited to: the risk that the Company is unable to complete payments or incur required expenditures under
the Option Agreement, resulting in the loss of the option; risks that required approvals, including acceptance by the Exchange,
are delayed or not obtained, and that any share issuances may be subject to additional conditions or may not be completed on
the timeline anticipated; financing risk and equity market volatility; the risk that required regulatory or stock exchange approvals
are delayed or not obtained; exploration risk, including the risk that exploration results are not as anticipated or do not support
further advancement of the Property; risks related to the interpretation of exploration data and the reliability of any historic
information; risks associated with the use of new technologies and data-driven methods; operational risks and hazards;
environmental risks and liabilities; permitting and land access risks; changes in laws, regulations and government policies;
community and Indigenous relations risks; commodity price fluctuations; and general business, economic, competitive, political
and social uncertainties.
The Company is an exploration-stage issuer and does not currently have mineral reserves. Exploration is speculative, requires
substantial expenditures and may not result in the discovery of economically recoverable mineralization. There can be no
assurance that any forward-looking statements will prove to be accurate, as actual results and future events may differ materially
from those anticipated. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not
undertake to update or revise any forward-looking statements except as required by applicable law.
SOURCE: Core Critical Metals Corp.