Genius Metals Enters Option Agreement to Acquire 100% Interest IN Timarighine Copper Project, Kingdom of Morocco
GENIUS METALS ENTERS OPTION AGREEMENT TO ACQUIRE 100%
INTEREST IN TIMARIGHINE COPPER PROJECT, KINGDOM OF MOROCCO
MONTRÉAL, QUÉBEC, CANADA – November 13, 2024 – Genius Metals Inc. (TSXV: GENI) (“Genius
Metals” or the “Company”) is pleased to announce that on November 12, 2024 it has entered into
an option agreement to acquire a 100% interest in the Timarighine Copper Project, located in the
Kingdom of Morocco. This acquisition aligns with the Company’s strategy to explore and develop
its Moroccan assets, including the Timarighine, Tifernine (permit 3842500) and BMR projects
(permit 384330), while advancing its exploration activities in North America.
About the Timarighine Copper Property
The Timarighine copper prospect is located in the Tazzarine rural commune within the Tazarine
caïdat, Agdez district, Zagoura province, in Morocco's Drâa -Tafilalet region. Situated
approximately 13 km northwest of Tazarine village, the property lies along the southern slopes of
the Jbel Saghro in the eastern Anti -Atlas, an area renowned for copper mineralization, including
the nearby Oumjrane deposit. Access to the site is available via national road R108, between Nkob
and Tazarine, followed by a direct track to the Timarighine area. Covering approximately 55 km²,
the property comprises four contiguous exploration permits (3842563, 3842734, 3842735, and
3842736).
The Timarighine property lies within an east -west trending depression on the southern front of
the Precambrian -aged Saghro massif. Copper mineralization occurs along two parallel vein
structures, known locally as "iron cap" zones, marked by extensive alteration zones with hematite
and goethite iron oxides. The mineralized structures are characterized by a shear system oriented
NNE-SSW and feature local stockwork zones of brecciated carbonate -quartz-pyrite-chalcopyrite
veinlets. The two main mineralized vein s extend approximately 650 meters and 300 meters in
length, with variable widths up to 5 meters (Figure 1: Aerial View of Main Mineralized Structures).
High-grade copper identified within these zones also hints at significant primary sulfide
mineralization potential at depth, underscoring Timarighine’s status as a high -value copper
exploration target.
Figure 1: The two parallel mineralized structures, Timarighine property.
Surface sampling of the vein areas has returned copper values as high as 4.164%*, as documented
in ‘’A. Ansari, 2021. Contexte géologique et minier des permis de recherche du district cuprifère
de Timarighine (Région de Tazarine ; Anti -Atlas oriental), P29’’. The preliminary investigations
indicate that these structures may connect at depth via a network of veinlets and stockwork.
*Historical Data Disclaimer: Readers are advised that the historical assays results are based on
prior data and reports prepared by previous property owners and other sources. Genius Metals
Inc. has not independently verified the historical exploration results. The cited report above is on
file with the Département des Mines et Direction Régionale Errachidia – Drâa-Tafilalet Region, the
Ministry of Energy, Mining, and Sustainable Development , Morocco and can be obtained upon
request.
Recent Exploration Activities
Initial grab sampling conducted at surface by Genius Metals on the mineralized structures
returned copper values reaching up to 16.16% Cu *, demonstrating the property’s high -grade
potential. More recently, as part of a due diligence process, GoldMinds Geoservices Inc.
conducted an independent surface sampling program, confirming copper mineralization with
values of up to 2.9% Cu. These findi ngs continue to highlight the exploration promise of the
Timarighine property.
*Surface samples, by their nature, are selected and may not represent underlying copper values.
Figure 2: The mineralized structures showing veins with carbonate-quartz-pyrite-chalcopyrite
Option Agreement
This strategic acquisition will be completed through cash payments totaling CAD $ 600,000 and
work commitments of CAD $650,000 over the next three years. The terms of the agreement are
as follows:
Cash Payment Schedule:
• Initial Payment: CAD $50,000 by November 20, 2024
• First Anniversary Payment: CAD $75,000 by November 20, 2025
• Second Anniversary Payment: CAD $75,000 by November 20, 2026
• Third Anniversary Payment: CAD $400,000 by November 20, 2027
Exploration Commitments:
• CAD $150,000 in eligible exploration expenditures by November 20, 2025
• CAD $200,000 in eligible exploration expenditures by November 20, 2026
• CAD $300,000 in eligible exploration expenditures by November 20, 2027
As part of the agreement, Genius Metals will serve as the operator of the Ti marighine 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 right to terminate the option agreement at any time, thereby relinquishing
its interest in the property.
Warrant Extension
The Corporation also announces that it intends to extend the term of a total of 6,250,000 common
share purchase warrants, of which 5,650,00 exercisable at $0.15 per common share until
November 28, 2024 and 600,000 exercisable at $0.15 per common share until December 13, 2024
(collectively, the "Warrants"). The Warrants were issued pursuant to private placements which
closed on November 28, 2022 and December 13, 2022. The Corporation proposes to extend the
term of these Warrants to November 28, 2025. All other terms and conditio ns of the Warrants
remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.
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”).
Technical Information
The data disclosed in this news release includes historical exploration sampling results. The
reader is cautioned that the historical results are based on prior data and reports prepared by
previous property owners and other sources. The reader is cautione d not to treat them, or any
part of them, as current and that a qualified person has not done sufficient work to verify the
results. Genius Metal Inc. has not independently analyzed the results of the historical exploration
work to verify the results. No independent QA/QC protocols are known for these samples and as
such analytical results may be unreliable.
Contact Information
Genius Metals
205-68 de la Gare Av
Saint-Sauveur, Qc J0R 1R0
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 cause 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 Corporation will not update any
forward-looking statements or forward -looking information that are incorporated by reference
herein, except as required by applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this news release.