Vault Announces Acquisition Of U.S. Historical Mirage-Mariposa Tungsten Mine Within The Gray Eagle Project
Vancouver, British Columbia - May 8, 2026 – TheNewswire - Vault Strategic Mining Corp. (TSXV: KNOX) (OTC: KNXFF) (FSE: M850) (WKN:A41WE4) ("Vault" or the "Company") announces that it has entered into a definitive mineral property purchase agreement (the “Agreement”) with two arm’s length vendors to acquire a 100% interest in the Historical Mirage-Mariposa Tungsten Mine included within the Gray Eagle Project located in the Bishop Mining District, Inyo County, California (the “Gray Eagle Project”), together with the North Tungsten Project in Nunavik, Quebec (collectively, the “Projects”).
Quinn Field-Dyte, CEO of Vault Strategic Mining Corp. stated: “We are excited to add the historical Mirage-Mariposa Tungsten Mine, included within the Gray Eagle project to our US Historical mine portfolio, particularly given its combination of tungsten and precious metals in a historically identified skarn environment. With multiple mineralized zones and no modern drilling, we see a clear opportunity to apply modern exploration techniques to confirm, better define and potentially expand the system. The Company looks forward to engaging with potential exploration crews to get exploration underway at Mirage-Mariposa.”
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Figure 1. Tungsten and its uses. Visit Home - Vault Strategic Mining Corp.
Historical Mirage-Mariposa Tungsten Mine within the Gray Eagle Project
The Project comprises 33 contiguous unpatented lode claims totaling approximately 681.8 acres, located approximately 10 kilometres east of Bishop, California, within the White Mountains. The Project hosts multiple mineralized prospects developed along a granite–limestone contact, a geological environment associated with both tungsten skarn mineralization and hydrothermal precious-metal vein systems.
Historical overview of the Mirage-Mariposa Mine
The Mirage-Mariposa Mine is recorded in the U.S. Geological Survey’s (“USGS”) Mineral Resource Data System1 as a past-producing tungsten and silver site in Inyo County, California. The record identifies tungsten as the primary commodity and silver as a tertiary commodity. The site is also listed under alternate or previous names including the Golden Mirage and Mariposa Claims, Wooley Mine, Black Canyon RARE II Area, and Golden Mirage Mine.
According to the USGS MRDS record, the deposit is associated with replacement-style and disseminated mineralization, with contact metasomatic processes noted as the primary mode of origin. The record describes the primary mineralization control as a contact zone, with intense wallrock alteration and carbonate-silicate alteration. Reported minerals and materials include scheelite, garnet, epidote, quartz, and argentite.
The USGS record describes the Mirage-Mariposa as having historical resources of approximately 21,000 indicated tons and 34,400 inferred tons, with an average grade of 0.15% tungsten trioxide. The record also describes historical underground and surface-related workings, including a shaft in the ‘glory hole’ reported to be 17 feet deep, a 40-foot-wide ‘glory hole’, and approximately 70 feet between the west end of the underground workings at the shaft and the headwall.
The historical resource discussion divided the mineralized area into blocks. Block 1 was reported to contain approximately 5,300 tons of indicated subeconomic resources. By extending the strike length 37 feet to the southeast, an additional 15,800 tons of indicated subeconomic resources were calculated as Block 2. Two inferred blocks were also calculated: the first comprising approximately 11,500 tons by extending Block 1 37 feet below the shaft, and the second comprising approximately 22,600 tons by extending Block 2 an additional 53 feet along strike.
The USGS MRDS record references several historical publications, including California State Mining Bureau reporting from 1894, U.S. Geological Survey Professional Paper 110 from 1918, Knopf’s 1912 USGS Bulletin 540, Bateman’s 1956 report on the economic geology of the Bishop tungsten district, and a 1983 U.S. Bureau of Mines mineral investigation of the Black Canyon RARE II Area.
Click Image To View Full SizeFigure 2. Gray Eagle Project Map Showing Mirage Mariposa Mine location
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Figure 3. Excerpt from report – Redacted for compliance 2
More about the project and various prospects will be made available on the Companys website at Home - Vault Strategic Mining Corp.
Historical Information and Exploration Context
The mineral properties comprising the Company’s portfolio have been the subject of extensive historical exploration, development work, and, in several cases, past commercial production or advanced-stage evaluations with the intent to commence mining. The historical exploration results, sampling, drilling, resource estimates, and other technical information referenced herein were completed prior to the adoption of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and do not comply with current NI 43-101 requirements. As a result, such historical information and any historical resource estimates should not be relied upon as current mineral resources or reserves.
The Company has been provided with a compilation of historical data, including non-NI 43-101 compliant resource estimates and sampling results. While this historical information is non-compliant, it is considered highly relevant for exploration targeting, geological interpretation, and the design of modern exploration and evaluation programs.
Management believes that the existence of extensive historical work, past production, and prior feasibility-level evaluations creates a compelling foundation for modern exploration, particularly when reassessed using contemporary geological models, exploration technologies, metallurgical processes, and prevailing commodity prices. However, readers are cautioned that historical results, resources, or economic conclusions cannot be verified or confirmed at this time.
In order to define current mineral resources, assess metallurgy, and evaluate economic viability, the Company will be required to complete confirmation drilling, modern metallurgical studies, updated technical evaluations, and NI 43-101 compliant mineral resource estimates and feasibility or economic studies. There is no assurance that historical results will be confirmed or that any project will advance to economic viability.
Transaction Terms
Pursuant to the agreement, Vault may acquire a 100% interest in the Project consisting of 33 lode mining claims consisting of 681.8 from two arms length vendors for total consideration of US$380,000 in staged cash payments and the grant of a 2.0% net smelter return royalty in favour of the vendors.
The consideration is structured as follows:
|
Payment Milestone |
Cash Payment |
|
Upon execution |
US$10,000 |
|
60 days |
US$25,000 |
|
6 months |
US$85,000 |
|
12 months |
US$85,000 |
|
18 months |
US$85,000 |
|
24 months |
US$85,000 |
|
Total |
US$380,000 |
About Vault Strategic Mining Corp.
Vault Strategic Mining Corp. is a North American resource company focused on the acquisition and advancement of strategic and critical mineral projects located in top-tier mining jurisdictions. The Company emphasizes historical and underexplored assets with potential for value creation through modern exploration and disciplined development.
Vault Strategic Mining Corp. trades on the TSX Venture Exchange (TSXV: KNOX), OTC Markets (OTCID: KNXFF), and the Frankfurt Stock Exchange (FSE: M85).
Data Verification
Historical information referenced in this release has been reviewed against available reports; however, such data cannot be independently verified to current NI 43-101 standards and quality control procedures and are therefore considered supportive for exploration guidance only. The Company cautions that past results or production from properties in proximity to The Company may not necessarily be indicative of mineralization on the Company’s properties.
Qualified Person
Mr. William Feyerabend, CPG, an independent Consulting Geologist and a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the disclosure in this news release for consistency with NI 43-101 reporting requirements.
On behalf of the Board:
Vault Strategic Mining Corp.
"Quinn Field-Dyte"
Chief Executive Officer & Director
Tel: 604.343.4338 | Email: [email protected]
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
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.
Disclaimer for Forward-Looking Information
This release includes forward-looking statements regarding KNOX, and the Mirage-Mariposa Project, which may include, but is not limited to, statements with respect to the completion of the acquisition of the Mirage-Mariposa Project, and the ability to obtain regulatory approvals, and other factors. Often, but not always, Forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes", "estimates" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity. The forward-looking events and circumstances discussed in this release, including completion of the acquisition of the Mirage-Mariposa Project, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including the risk that KNOX may not obtain all requisite approvals for the acquisition, including the approval of the TSX.V, risks of the resource industry, failure to obtain any other required regulatory approvals, economic factors, any estimated amounts, timing of the acquisition and requited payments, the equity markets generally and risks associated with growth, exploration and development. Although KNOX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made KNOX undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
1 Mirage-Mariposa Mine (MRDS #10187738) W
2 https://pubs.usgs.gov/mf/1983/1361c/report.pdf - Page 7
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