Canamera Options Rare Earth Ridge REE-Niobium Project
Canamera Options Rare Earth Ridge REE-
Niobium Project
Edmonton, Alberta--(Newsfile Corp. - July 8, 2026) -
Canamera Energy Metals Corp.
(CSE: EMET)
(OTCQB: EMETF) (FSE: 4LF0) ("
Canamera
" or the "
Company
") announces that it has entered into an
option agreement (the "
Option Agreement
") with Nemo Resources Inc. (the "
Owner
") under which it
may acquire a 100% undivided interest in the Rare Earth Ridge rare earth element ("
REE
") and niobium
("
Nb
") project (the "
Project
" or "
Rare Earth Ridge
") located in northwestern Ontario, approximately
172 kilometres north of Hearst, Ontario.
The Project comprises approximately 7,320 hectares of mineral claims covering two carbonatite
intrusions, each approximately 6 kilometres in diameter. The right to acquire the Project adds a fourth
potential REE and Nb project in Ontario to Canamera's exploration portfolio.
"Rare Earth Ridge gives us exposure to two large carbonatite systems, a geological setting that hosts
many of the world's most significant rare earth element and niobium deposits." Canamera CEO Brad
Brodeur commented, "Given the scarcity of mineralized carbonatites globally, we believe this project
offers compelling exploration potential and aligns well with our strategy of advancing high-quality critical
minerals assets."
Option Agreement Terms
Under the Option Agreement, Canamera may acquire a 100% undivided interest in the Project by
issuing common shares of Canamera to the Owner having the following aggregate deemed values
(collectively, the "
Option Payments
"):
Common shares having an aggregate deemed value of $60,000, to be issued within five (5)
business days following receipt of all required regulatory approvals, including approval of the
Canadian Securities Exchange ("
CSE
") (the "
First Issuance Date
");
Common shares having an aggregate deemed value of $60,000, on or before the second
anniversary of the First Issuance Date;
Common shares having an aggregate deemed value of $60,000, on or before the third anniversary
of the First Issuance Date; and
Common shares having an aggregate deemed value of $100,000, on or before the fourth
anniversary of the First Issuance Date.
The number of common shares issued under each instalment are to be calculated using the 10-day
volume weighted average trading price ("
VWAP
") of Canamera's common shares on the CSE (or such
other exchange on which the shares are then listed) immediately preceding the date of issuance, subject
to applicable stock exchange policies. All shares issued will be subject to applicable statutory hold
periods.
Upon completion of all Option Payments, Canamera will be deemed to have acquired a 100% undivided
interest in and to the Project, subject only to a 2.0% net smelter return royalty (the "
NSR Royalty
")
reserved to the Owner. Canamera has the right, at its sole discretion, to purchase one-half of the NSR
Royalty (reducing it from 2.0% to 1.0%) by making a one-time cash payment of $2,000,000 to the Owner
at any time. Canamera will be the operator of the Project and is not obligated to incur any minimum
exploration expenditures, nor to exercise the Option.
Rare Earth Ridge Project
The Rare Earth Ridge project is located in the James Bay Lowlands of northwestern Ontario,
approximately 172 kilometres north of Hearst and centred roughly 6 kilometres west of the junction of the
Albany and Kenogami rivers, and covers approximately 7,400 hectares of mineral claims held under the
Mining Act
(Ontario). The Project is centred on two OGS mapped carbonatite intrusions, each
approximately 6 kilometres in diameter, representing large potential, district-scale carbonatite systems.
Carbonatites are rare, mantle-derived igneous rocks containing more than 50% carbonate minerals, and
they host the highest concentrations of REE of any igneous rock type (Verplanck, Mariano, and Mariano,
2016;
Rare Earth and Critical Elements in Ore Deposits
, v. 18, Society of Economic Geologists). They
are the world's primary natural source of both Nb and REE: carbonatite-hosted deposits contain the
majority of the world's known Nb reserves (Richardson and Birkett, 1995;
Geology of Canadian Mineral
Deposit Types
, GSC Economic Geology Report 8, Natural Resources Canada), and the Araxá and
Catalão (Brazil) and St. Honoré (Canada) carbonatites together account for approximately 98% of
annual global Nb production, while China's Bayan Obo carbonatite-related deposit supplies roughly 40%
of annual global REE production (Yang et al., 2024;
National Science Review
, 11(4), nwae063;
doi:10.1093/nsr/nwae063). The world's largest REE deposits - Bayan Obo, Mountain Pass (USA),
Maoniuping (China), and Mount Weld (Australia) - are all carbonatite-hosted. Despite their economic
importance, mineralized carbonatites are scarce: of more than 500 carbonatites identified worldwide,
only around 60 host quantified Nb or REE resources (USGS Mineral Resources Program,
Carbonatites
of the World: Explored Deposits of Nb and REE
, mrdata.usgs.gov/carbonatite), underscoring the
strategic value of large, mineralized, undrilled carbonatite systems.
Carbonatite intrusions overlain on regional TMI magnetic map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11828/304371_218b818044ca68a6_001full.jpg
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Warren
Robb, P.Geo. (British Columbia), VP Exploration of Canamera Energy Metals Corp. and a Qualified
Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI
43-101"). Mr. Robb is not independent of the Company within the meaning of NI 43-101.
About Canamera Energy Metals Corp.
Canamera Energy Metals Corp. is a critical minerals exploration company building a diversified portfolio
of interests in energy metals and REE projects across the Americas, including the Rare Earth Ridge
REE-Nb project and options on the Schryburt Lake, Waterslide, and Garrow REE and Nb projects in
Ontario, the Great Divide Basin uranium project in Wyoming, the Turvolândia and São Sepé REE
projects in Brazil, and the Mantle project in British Columbia. Across this portfolio, Canamera targets
underexplored regions with strong geological signatures and supportive jurisdictions, applying
geochemical, geophysical, and geological datasets to generate and advance high-conviction, first-
mover exploration targets. For more information, visit
www.canamerametals.com
.
FOR FURTHER INFORMATION PLEASE CONTACT:
Brad Brodeur
Chief Executive Officer
780-238-7163
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation, including statements regarding: the Company's planned exploration activities
on the Project; the anticipated timing and completion of the Option Payments under the Option
Agreement; the Company's ability to make required share issuances; the geological prospectivity of
the Project and the potential to identify mineral resources; and the Company's exploration strategy.
Forward-looking information is based on assumptions, estimates, and opinions of management at the
date the statements are made and is subject to a variety of risks and uncertainties that could cause
actual results to differ materially from those anticipated or projected. These assumptions include,
without limitation: the Company's ability to raise sufficient capital to fund its exploration programs and
option payments; favourable regulatory conditions; receipt of CSE and other regulatory approvals;
continued access to the Project; and general economic conditions.
Important risk factors that could cause actual results to differ materially include, but are not limited to:
uncertainties related to raising sufficient financing; the inherently speculative nature of mineral
exploration; the early-stage, grassroots nature of the Project; the limited and historical nature of
available exploration data; title risks; environmental and permitting risks; risks relating to engagement
with First Nations and Indigenous communities; and fluctuations in rare earth element and niobium
prices. Additional risk factors affecting the Company can be found in the Company's continuous
disclosure documents available at
www.sedarplus.ca
.
Readers are cautioned not to place undue reliance on forward-looking information. The Company
does not intend, and expressly disclaims any obligation, to update or revise any forward-looking
information whether as a result of new information, future events, or otherwise, except as required by
applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/304371