Genius Metals Enters Option Agreement to Acquire 100% Interest IN Tifernine Copper Project, Kingdom of Morocco
GENIUS METALS ENTERS OPTION AGREEMENT TO ACQUIRE 100% INTEREST IN
TIFERNINE COPPER PROJECT, KINGDOM OF MOROCCO
MONTRÉAL, QUÉBEC, CANADA – October 17, 2024—Genius Metals Inc. (TSXV: GENI) (“Genius Metals” or
the “Company”) is pleased to announce that it has entered into an option agreement to acquire a 100%
interest in the Tifernine Copper Project, located in the Kingdom of Morocco. This acquisition aligns with
the Company’s strategy to explore and develop its Moroccan assets, including both the Tifernine and BMR
projects, while advancing its exploration activities in North America.
About the Tifernine Copper Property
The Tifernine Copper Project covers an area of approximately 16 km² (see Fig. 1) and is located southeast
of Ouarzazate, Morocco, accessible via the national road N9, which connects Ouarzazate to Zagora. The
property is situated just 10 km from the BMR property, where Genius Metals also holds an option to
acquire a 100% interest (see press release dated July 11, 2024).
Geologically, the Tifernine property consists of a n Ediacaran rhyolitic and andesitic complex intersected
by ENE-WSW-oriented faults. It hosts several sub-vertical structures, each extending approximately 1 km
in length and up to 2 meters in width. These structures are locally brecciated and contain quartz-carbonate
veins. Copper mineralization is observed both in veins and disseminated within the volcanic rocks.
Figure 1: Location of the Tifernine property, Kingdom of Morocco
Recent Exploration Activities
An independent surface sampling program was recently conducted by GoldMinds Geoservices Inc. to
assess the copper potential of several structures across the property. Eleven samples were collected along
trenches and mineralized structures. Notably, five sa mples returned copper grades exceeding 0.7% Cu,
with the highest value reaching 5.16% Cu from a sample taken from a sub -vertical fault, up to 3 meters
wide, located in the eastern part of the property.
Table 1: Surface Sample Assay Results
Samples Length
(m)
Cu
%
CuOX
(ppm)
26367 1.0 0.83 6,720
26368 1.0 0.19 1,325
26369 1.0 0.01 53
26370 1.0 0.01 <10
26371 1.0 0.22 1,047
26372 1.0 0.09 305
26373 0.5 0.75 6,060
26374 0.3 1.47 12,060
26375 1.0 0.77 6,140
26376 1.2 0.31 1,924
26377 0.3 5.16 43,200
Figure 2: Surface samples location
“We are thrilled with this newly acquired permit, located just 10 km from our BMR property,” said Pierre-
Olivier Goulet, VP of Corporate Development for Genius Metals. “The assay results from these surface
samples show excellent copper mineralization, and we believe there is significant exploration upside
throughout the area. We plan to conduct follow-up exploration programs in 2025 to further evaluate the
project’s potential.”
Option Agreement
This strategic acquisition will be completed through cash payments totaling CAD $250,000 and work
commitments of CAD $225,000 over the next three years. The terms of the agreement are as follows:
Cash Payment Schedule:
• Initial Payment: CAD $25,000 by October 20, 2024
• First Anniversary Payment: CAD $30,000 by October 20, 2025
• Second Anniversary Payment: CAD $45,000 by October 20, 2026
• Third Anniversary Payment: CAD $150,000 by October 20, 2027
Exploration Commitments:
• CAD $50,000 in eligible exploration expenditures by October 20, 2025
• CAD $75,000 in eligible exploration expenditures by October 20, 2026
• CAD $100,000 in eligible exploration expenditures by October 20, 2027
As part of the agreement, Genius Metals will serve as the operator of the Tifernine Copper Project
throughout the option period. The Company may choose to accelerate the option exercise by completing
the required payments and exploration commitments ahead of schedule. The Company retains the ri ght
to terminate the option agreement at any time, thereby relinquishing its interest in the property.
About Genius Metals
Genius Metals is a Canadian mineral exploration company focused on the acquisition, exploration and, if
warranted, development of natural resource properties of merit in Canada and in Morocco.
Qualified Person
The technical and scientific content in this news release has been reviewed and approved by Merouane
Rachidi, Ph.D., P. Geo., independent qualified person as defined in the National Instrument 43 -101—
Standards of Disclosure for Mineral Projects (“NI 43-101”).
Contact Information
Genius Metals Inc.
Tel.: 579-476-7000
Pierre-Olivier Goulet
Vice-President Corporate Development
Email: [email protected]
1-450-821-5270
Guy Goulet
President and CEO
Email: [email protected]
1-514-294-7000
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward -looking information” under Canadian
securities legislation. Generally, forward -looking information can be identified using forward -looking
terminology such as, “will be”, “expected” or variations of such words and phrases or statements that
certain actions, events or results “will” occur. Forward-looking statements, including statements relating
to the expected findings on the Property, are based on the Corporation’s estimates and are subject to
known and unknown risks, uncertainties and other factors that may caus e the actual results, level of
activity, performance or achievements of the Corporation to be materially different from those expressed
or implied by such forward-looking statements or forward-looking information. There can be no assurance
that such statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward -looking information. The C orporation will not update any
forward-looking statements or forward -looking information that are incorporated by reference herein,
except as required by applicable securities laws.
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