Krait Enters Definitive Agreement to Acquire U.S. Antimony Projects, Concurrent Financing
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News Release September 8, 2026
Krait Critical Minerals Enters Definitive
Agreement to Acquire Portfolio of U.S. Antimony
Projects and Announces Concurrent Financing
September 8, 2026 – Vancouver, BC, Canada – Krait Critical Minerals
Corp. (the “Company” or “Krait”) (CSE: KRIT) is pleased to announce that
it has entered into a securities exchange agreement (the “ Definitive
Agreement”) pursuant to which Krait will acquire all of the issued and
outstanding membership interests of Nevada Hills Antimony LLC (“ Nevada
Hills”). Nevada Hills holds contractual rights to acquire the Bales Antimony
Project and owns certain additional mineral claims and related assets in
Okanogan County, Washington. The Definitive Agreement follows the
exclusivity and standstill agreement entered into by Krait and Nevada Hills on
May 4, 2026 (the “Exclusivity Agreement”).
Additionally, the Company is pleased to announce that it has arranged a non-
brokered private placement financing for gross proceeds of up to $1,500,000
(the “Offering”) through the issuance of up to 2,000,000 common shares
(each, a “Share”) at a price of $0.75 per Share. No warrants will be included
in the Offering.
Highlights:
• Immediate exposure to multiple antimony development targets in a past
producing district;
• a historical discovery-post sample of vein material was reported to assay
10.9% antimony;1
• historically mined and sorted material totalling 37.82 tons was reported
to assay 14.4% antimony;2
1 Marshall T. Huntting, Inventory of Washington Minerals, Part II: Metallic Minerals, Volume 1, Washington
Division of Mines and Geology, Bulletin No. 37 (1956), p. 18, Bales entry.
2 U.S. Geological Survey, Mineral Resources Data System (MRDS), Bales Mine, Okanogan County, Washington,
analytical data; accessed September 2026
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• Efficient capital structure allows for minimally dilutive financing and
acquisition opportunities
Completion of the acquisition would provide Krait with ownership of Nevada
Hills and, indirectly, Nevada Hills’ contractual rights under the Bales MPPA (as
defined below) and its interests in the additional mineral claims. Krait will not
acquire direct ownership of the eight Bales claims at closing of the Definitive
Agreement. Under the Bales MPPA, those claims are to be conveyed to Nevada
Hills only upon payment in full of the purchase price and satisfaction of the
other requirements of the Bales MPPA
Oscar Mendoza, Chief Executive Officer and Director of Krait,
commented: "Execution of the Definitive Agreement is an important step in
Krait’s strategy to add U.S. based antimony opportunities to its minerals
portfolio. The Bales Project is supported by historical reports of stibnite
mineralization and historical exploration and underground development work.
We believe this combination of project acquisition and additional capital
positions Krait to continue advancing Goldbar Spider Lake while rapidly
evaluating the potential of the new antimony projects using systematic,
modern exploration methods”
Bales Antimony Project
The Bales Antimony Project is located approximately two miles northeast of
Carlton in the Methow Valley of Okanogan County, Washington. Pursuant to
the Bales MPPA, Nevada Hills has the right to acquire all of Cannonbridge
Capital Corp.’s right, title and interest in eight claims identified as BA 1 through
BA 8. Nevada Hills owns nine additional mineral claims contiguous to those
claims. Together, the two groups comprise 17 claims reported to cover
approximately 310 acres. Claim acreage, boundaries, serial numbers,
ownership, good standing and recording particulars remain subject to
independent verification.
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Figure 1: Regional location of the Bales Antimony Project and Antimony Bell
Project in Washington State1.
Historical records describe stibnite and stibiconite mineralization in altered and
silicified shear zones hosted by hornblende -quartz diorite and related rocks.
The principal reported mineralized zone strikes northeast and dips steeply
southeast. Historica l work is reported to include surface trenching and
underground workings . Krait has not independently verified the reported
geology, mineralization or historical work, and the available records are not
complete or consistent regarding the extent and timing of the work.
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Figure 2: Generalized geology and location of the Bales Antimony Project and
Antimony Bell Project1.
Historical Results and Work
The following information is historical and has not been independently verified
by Krait. The information is being disclosed solely to describe the basis for
Krait’s proposed evaluation of the properties. The historical results must not
be interpreted as c urrent exploration results, a mineral resource or mineral
reserve, evidence of economic viability or a forecast of future performance:
• a historical discovery-post sample of vein material was reported to assay
10.9% antimony;3
3 Marshall T. Huntting, Inventory of Washington Minerals, Part II: Metallic Minerals, Volume 1, Washington
Division of Mines and Geology, Bulletin No. 37 (1956), p. 18, Bales entry.
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• 37.82 tons of historically sorted material was reported to assay 14.4%
antimony;4
• approximately five tons of lump stibnite was reportedly removed from the
discovery trench;5
• historical compilations report approximately 100 tons of mineralized
material mined at Bales during 1951-1952;6 and
• historical records for Antimony Bell report a 32 -foot shaft, several adits
and a shipment of 1,300 pounds of material reported to contain stibnite
in 1940.7
The sample locations, sample types, widths, sampling methods, sample
security, analytical methods, laboratories, detection limits, standards, blanks,
duplicates and check-assay procedures are not known or are not adequately
documented in the records reviewed by Krait. Krait’s Qualified Person has not
independently verified the historical results through field inspection, sampling
or analytical work. Sorted material and selected samples may be inherently
biased and may not be representative of mineralization across the properties.
The reported quantities and grades do not constitute mineral resource or
mineral reserve estimates and must not be used to infer grade, width,
continuity, tonnage, recoverability or economic viability. No current mineral
resources o r mineral reserves have been defined for the Bales Antimony
Project or the Antimony Bell Project.
Antimony Bell and Other Portfolio Opportunities
Historical records and supplied maps identify Antimony Bell approximately
south of Bales. Krait is reviewing the geological, title and contractual
information relating to Antimony Bell as a separate portfolio opportunity. The
map outline and historical occ urrence shown in Figures 1, 2 and 4 do not
establish legal title, claim validity, property boundaries or an economically
recoverable deposit. Krait has not approved an exploration program, budget
or acquisition decision for Antimony Bell.
Nevada LLC has also brought other mineral opportunities to Krait's attention.
Those opportunities are at an evaluation or negotiation stage, as applicable.
Krait will not treat them as acquired projects unless and until due diligence is
4 U.S. Geological Survey, Mineral Resources Data System (MRDS), Bales Mine, Okanogan County, Washington,
analytical data, citing historical Washington geological publications.
5 C.P . Purdy Jr., Antimony Occurrences of Washington, Washington Division of Mines and Geology, Bulletin No.
39 (1951), p. 122, Bales Prospect.
6 R.E. Derkey, N.L. Joseph and Raymond Lasmanis, Metal Mines of Washington – Preliminary Report,
Washington Division of Geology and Earth Resources, Open File Report 90-18 (1990), p. 172, Bales entry.
7 Marshall T. Huntting, Inventory of Washington Minerals, Part II: Metallic Minerals, Volume 1, Washington
Division of Mines and Geology, Bulletin No. 37 (1956), p. 18, Antimony Bell entry.
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completed, definitive documentation is executed, required approvals are
received and the applicable transaction closes. There can be no assurance that
Krait will proceed with any additional opportunity.
Krait will continue its independent review of the status and good standing of
each claim, chain of title, assignments, property boundaries, access, surface
rights, permitting, environmental matters and the enforceability and
performance of the underlying contractual rights.
Definitive Agreement
Pursuant to the Definitive Agreement, Krait will issue 2,500,000 S hares at a
deemed price of $ 0.87 per Share and make a cash payment of US$100,000
to the members of the Nevada LLC.
Krait previously paid Nevada Hills a non -refundable exclusivity fee of
US$25,000 under the Exclusivity Agreement. That amount will be credited
against and constitute partial payment of the US$100,000 cash consideration,
leaving US$75,000 payable at closing.
Upon completion of the transaction contemplated by the Definitive Agreement,
Krait will acquire, Nevada LLC, and its holdings, including:
• Nevada Hills’ rights and obligations under the Bales MPPA;
• nine additional mineral claims contiguous to the Bales Antimony Project;
and
• four mineral claims comprising the Antimony Bell Project.
Completion remains subject to customary conditions, including completion of
required filings with the Canadian Securities Exchange (“ CSE”) and
compliance with applicable CSE policies; receipt of required regulatory and
third-party approvals; the Bales MPPA remaining in full force and effect
without an uncured default; receipt of any required notice, consent, approval
or waiver from Cannonbrid ge Capital Corp. , as applicable ; satisfactory
completion of Krait’s due diligence and title review; confirmation that the
relevant properties are in good standing; accuracy of the parties’
representations and warranties; and performance of their respective closing
obligations.
Nevada LLC is party to a definitive Mineral Property Purchase Agreement with
the underlying property owner for the Bales Antimony Project, effective April
29, 2026 (the “Bales MPPA”). Under the Bales MPPA, Nevada LLC agreed to
acquire 100% of the underlying property owner's right, title and interest in
eight claims identified as BA1 through BA8, together with related maps, data,
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technical information, records and reports, for an aggregate purchase price of
US$225,000 and a 2.0% net smelter return royalty.
Planned Evaluation
Subject to completion of the acquisition, satisfactory completion of Krait’s
legal and technical review and receipt of any required access rights and
permits, Krait’s proposed evaluation may include:
• confirming the legal status, location, ownership, chain of title and good
standing of the relevant claims and contractual interests;
• compiling, digitizing and reconciling historical maps, reports, assays,
production records and underground-development information;
• assessing access, land -management jurisdiction, permitting,
environmental, cultural, reclamation and bonding requirements;
• conducting field reconnaissance, mapping and independent sampling
under a documented QA/QC program, if access and permits allow; and
• preparing a phased exploration program and budget only if the legal and
technical review supports further work.
Offering
The Offering will consist of up to 2,000,000 Shares at a price of $0.75 per
Share for gross proceeds of up to $1,500,000. The Company intends to use
the net proceeds of the Offering for:
• exploration expenditures, including phase -one exploration at the
Company’s Goldbar Spider Lake Project;
• subject to completion of the acquisition and satisfactory legal and
technical review, reconnaissance, mapping and sampling at the Bales
Antimony Project and Antimony Bell Project;
• general and administrative expenses;
• marketing program costs;
• property investigation costs; and
• general working capital.
The Company may pay finder’s fees in connection with the Offering in
accordance with applicable securities laws and CSE policies. Completion of the
Offering is subject to customary closing conditions, including acceptance by
the CSE. All securities issued under the Offering will be subject to a statutory
hold period of four months and one day from the date of issuance.
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Completion of the Offering is not a condition to completion of the acquisition
under the Definitive Agreement, and completion of the acquisition is not a
condition to completion of the Offering.
Marketing Engagement
The Company further announces that it has entered into an agreement with
Interactive Offers LLC (“Interactive Offers” ) to enhance investor and
market awareness amongst the global investment community, for a period of
two weeks for a one -time payment of USD $20,000. Interactive Offers will
provide digital marketing and investor awareness services designed to
increase awareness of Krait Critical Minerals and its corporate developments
among the investment community. Services will include strategic digital
communications and targeted outreach to retail and institutional investor
audiences. Interactive Offers has experience supporting small-cap and micro-
cap public companies through targeted digital awareness campaigns.
Interactive Offers and its principal, Eder Holguin, can be reached by email at
[email protected] or by phone at +1 (844) 563- 3377. Interactive
Offers is located at 327 Plaza Real, Suite 319, Boca Raton, Florida 33432, USA.
Interactive Offers is an arm's-length service provider to the Company. To the
knowledge of the Company, neither Interactive Offers nor its principals own
any securities of the Company or have any direct or indirect interest in the
Company, except as may be acquired through ordinary market transactions.
Interactive Offers and any subcontractors retained by Interactive Offers will
conduct all marketing activities in compliance with applicable Canadian
securities laws, including the disclosure requirements of section 52 of the
Securities Act (British Columbia).
Qualified Person
The scientific and technical information contained in this news release has
been reviewed and approved by J. Garry Clark, P.Geo. (PGO #0245), a director
of Krait and a “Qualified Person” as defined by NI 43-101.
Mr. Clark has not conducted a personal inspection of the Bales Antimony
Project or the Antimony Bell Project and has not independently verified the
historical sampling, analytical, production or shipment information disclosed
in this release through fieldw ork, resampling or independent laboratory
analysis. Mr. Clark’s review was limited to the publications, records, maps and
databases referenced in this news release. The absence of original sample
locations, widths, sampling protocols, assay certificates, laboratory
information and QA/QC records limits the reliability of the historical
information. The historical information may not be representative of