EraNova Metals Identifies Rare Earth Element Potential at Adanac Through Re-Evaluation of Existing Assay Data; Announces Investor Relations Agreement; Announces Stock Option Grant
EraNova Metals Identifies Rare Earth Element
Potential at Adanac Through Re-Evaluation of
Existing Assay Data; Announces Investor
Relations Agreement; Announces Stock
Option Grant
Vancouver, British Columbia--(Newsfile Corp. - February 9, 2026) - EraNova Metals Inc. (TSXV: NOVA)
(OTCQB: STXPF) ("EraNova" or the "Company") is pleased to announce the results of a recent re-
evaluation of existing multi-element assay data from the Company's 100%-owned Adanac Molybdenum
Project, which has identified elevated rare earth element concentrations associated with the
molybdenum system, including calculated total rare earth oxide ("TREO") values of up to 1087ppm,
across 9,062 samples from 89 drill holes based on 3m sample intervals from drilling within the
molybdenum resource area.
The re-evaluation was completed using historical assay data originally
collected for molybdenum exploration and reflects a renewed focus on rare earth elements in light of
growing market and strategic interest.
The Company's decision to advance Adanac toward a National Instrument 43-101 ("NI 43-101")
compliant Preliminary Economic Assessment ("PEA") reflects growing confidence in the scale and
development potential of the molybdenum deposit. The identification of rare earth elements within the
existing dataset further reinforces this confidence, highlighting additional value that may be evaluated
alongside a development pathway the Company already feels positive about.
"These results reinforce our view that the Ruby Creek Property is a large, multi-commodity system with
meaningful optionality beyond molybdenum," said Meredith Eades, President and CEO of EraNova. "As
we move the Adanac Molybdenum Project toward a NI 43-101 compliant PEA, it is encouraging to see
additional elements that have the potential to add value to a development story we already feel positive
about. While the Adanac molybdenum deposit provides a clear and well-defined development pathway,
we believe the presence of rare earth elements warrants further evaluation as part of the project's
broader technical and economic assessment."
The re-evaluation involved a review of historical multi-element assay data collected as part of prior
drilling and technical programs, with a specific focus on rare earth element content in light of increased
market and strategic interest in rare earth elements. While earlier work was primarily designed to
evaluate molybdenum mineralization, the available dataset—comprising 9,062 samples of 3m intervals
from 89 drill holes—provides meaningful insight into the presence and distribution of both light and heavy
rare earth elements within the Adanac system. Calculated total rare earth oxide values were derived
through standard oxide conversions applied to elemental assay data and have not yet been validated
through targeted re-assaying or dedicated mineralogical studies.
Table 1.
Light Rare Earth Element
Element Symbol
Maximum
(ppm)
Average (ppm)
Lanthanum
La
221.9
43.38
Cerium
Ce
433
87.57
Praseodymium
Pr
17.1
10.85
Neodymium
Nd
57.1
38.63
Samarium
Sm
14
8.77
Heavy Rare Earth Element
Europium
Eu
1.2
0.25
Gadolinium
Gd
16.7
8.18
Terbium
Tb
3.1
1.37
Dysprosium
Dy
20.1
8.92
Holmium
Ho
4.5
1.8
Erbium
Er
14.6
5.45
Thulium
Tm
2.1
0.82
Ytterbium
Yb
13.4
5.43
Lutetium
Lu
1.9
0.76
TREO Calculated
1087
217.94
Analytical and Methodology Notes
Reported results represent individual sample intervals and should not be interpreted as representative of
average grades or as evidence of economic mineralization.
QA/QC
The majority of drilling reported herein (88 of 89 drill holes) forms part of the resource drilling that
underpins the 2022 Mineral Resource Estimate (see 2022 Technical Report).
1
QA/QC protocols and
analytical procedures for this drilling are summarized in the 2022 Technical Report. All analyses were
conducted at accredited laboratories and incorporated both internal laboratory QA/QC procedures and
additional QA/QC samples submitted by the Company.
One additional drill hole was sampled and analyzed outside of the 2022 resource program. Core was
split on site and sampled at 3.0 m intervals, with the exception of two sub-intervals from 301.00–301.25
m (TREO 414 ppm) and 301.25–304.00 m (TREO 384 ppm). Core was tagged, secured, and hand-
delivered to the Bureau Veritas sample preparation facility in Whitehorse, Yukon. Certified reference
standards were inserted at a frequency of one per ten samples.
Samples were crushed, and pulps were forwarded to the Bureau Veritas laboratory in Vancouver for
analysis. All samples were analyzed using four-acid digestion with ultratrace ICP-MS for 59 elements,
and fire assay for gold. Over-limit copper, lead, zinc, and silver samples were re-analyzed using multi-
acid digestion and ICP-ES (MA370). Over-limit tungsten samples were analyzed by lithium borate fusion
XRF (XF750). Silver samples exceeding 1,500 g/t were additionally analyzed by fire assay (FA530), and
lead samples exceeding 10% were analyzed by titration (GC817). All analytical results passed
laboratory QA/QC screening.
Next Steps
The Company is advancing additional mineralogical and petrographic studies to better understand the
mineral species hosting the rare earth elements and their spatial relationship to the molybdenum
mineralization. This work will support an evaluation of potential recovery pathways and assess whether
rare earth elements could be recovered as a by-product in future development scenarios at Adanac.
Results from this work will inform the scope of further technical studies as the Company continues to
advance the project toward formal economic evaluation.
Investor Relations Engagement
EraNova also announces that it has entered into an investor relations agreement (the "IR Agreement")
with TB Investor Relations ("TBIR") to assist the Company in enhancing communication and engagement
with its shareholders and the investment community.
Tania Barreto, sole proprietor of TBIR which is
based out of Toronto, Ontario, has 20 years of capital markets experience in the mining sector working
in investor relations roles for exploration, development and producing mining companies.
The IR Agreement is effective as of February 9, 2025, and will continue on a month-to-month basis
unless terminated by either party upon 30 days' written notice to the other party. In consideration for
TBIR's services, the Company will pay TBIR a monthly fee of $6,000 plus applicable taxes and any
approved expenses, payable from the Company's general working capital. TBIR is an arm's length party
to the Company and, to the Company's knowledge, does not have any direct or indirect interest in the
Company or its securities, nor any right or intent to acquire such an interest.
The IR Agreement is subject to acceptance by the TSX Venture Exchange.
Stock Option Grant
The Company also announces that its Board of Directors has authorized and approved the grant of
100,000 stock options pursuant to the Company's stock option plan to a consultant of the Company. The
options are exercisable for 100,000 common shares of the Company at an exercise price of $0.17 per
share for a term of five (5) years expiring on February 9, 2031. The Options vest in four 25% equal
instalments over a period of twenty-four (24) months from the date of grant, with the first instalment
vesting on August 9, 2026, and three additional instalments vesting six, twelve and eighteen months
thereafter.
Qualified Person
Mr. Nicholas Clive Aspinall, M.Sc., P.Eng., is a consulting geologist to EraNova and is a "qualified
person" as defined by National Instrument 43-101. Mr. Aspinall has verified the data disclosed in this
press release, including the sampling, analytical, and test data underlying the technical information, and
has approved the technical information contained herein.
About EraNova Metals Corp.
EraNova Metals is a Canadian mineral exploration company focused on advancing precious and base
metal projects across western Canada.
The Company's flagship asset is the Ruby Creek Property, a 29,700-hectare land package near Atlin,
BC that hosts both the Adanac Molybdenum Project, a development-stage deposit with historic
feasibility, and the Atlin Discovery Project, an emerging pipeline of high-grade gold, silver, copper, and
tungsten zones.
EraNova also holds two additional 100%-owned assets: the Big Ledge Zinc-Lead Project, located 57
km south of Revelstoke, BC, and the South Thompson Nickel Project in west-central Manitoba.
For further information on EraNova, visit our website at
www.eranovametals.com
or contact:
Meredith Eades
President & CEO
604.360.4668
Twitter: @eranovametals
LinkedIn: EraNova Metals
Youtube: @eranovameatls
–
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.
Forward Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" (collectively,
"forward-looking statements") within the meaning of applicable Canadian securities laws. All statements
in this release that are not statements of historical fact are forward-looking statements, including, without
limitation: statements regarding the Company's decision to advance the Adanac Molybdenum Project
toward a National Instrument 43-101 compliant Preliminary Economic Assessment ("PEA"); the
anticipated scope, timing, and outcomes of such PEA; the Company's broader development strategy for
the Ruby Creek Property; and the enhancement of communications with shareholders and the
investment community through the Company's engagement of TBIR.
Forward-looking statements are based on a number of assumptions that, while considered reasonable
by the Company at the time of preparation, are inherently subject to significant uncertainties. These
assumptions include, but are not limited to: the accuracy and relevance of historical technical data and
mine plans; the applicability of updated cost estimates, throughput assumptions, and long-term
molybdenum pricing; the ability to complete a NI 43-101 compliant PEA as planned; the availability of
financing and technical expertise; stable regulatory and permitting conditions; favourable commodity
prices and market conditions; and the effectiveness of the Company's and TBIR's communication
strategy.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may
cause actual results to differ materially from those expressed or implied by such statements. These risks
include, but are not limited to: changes in commodity prices, capital and operating cost assumptions, or
exchange rates; technical, geological, or metallurgical uncertainties; delays in permitting or regulatory
approvals; access to capital; and broader economic, market, or geopolitical conditions.
Although EraNova believes the expectations expressed in such forward-looking statements are
reasonable, there can be no assurance they will prove to be correct. Readers are cautioned not to place
undue reliance on forward-looking statements, which speak only as of the date of this news release. The
Company undertakes no obligation to update or revise any forward-looking statements except as
required by applicable law.
1
"Ruby Creek Project, Northern British Columbia, Canada" dated April 22, 2022 with an effective date of March 10, 2022 (the "
2022 Technical
Report
").
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