Neotech Metals Signs Agreement to Acquire the Torrance Project from Kenorland Minerals
Neotech Metals Signs Agreement to Acquire
the Torrance Project from Kenorland Minerals
Vancouver, British Columbia--(Newsfile Corp. - April 29, 2026) - Neotech Metals Corp. (CSE: NTMC)
(OTCQB: NTMFF) (FSE: V690) (
"Neotech"
or
"the Company"
) is pleased to announce that it has
entered into an agreement with Kenorland Minerals Ltd. ("
Kenorland
") to acquire a 100% interest in the
Torrance Project (the "
Project
"), located approximately 70 kilometres from the Company's flagship
Hecla-Kilmer ("
H/K
") Project in Ontario, Canada.
Torrance Project Highlights
The Torrance Project is located in northern Ontario and benefits from excellent infrastructure, including
year-round road access and proximity to established power networks. Existing forestry roads and
previously disturbed areas are expected to support cost-effective exploration activities with minimal
environmental impact.
The Project comprises 580 mining claims covering approximately 12,270 hectares and is prospective
for alkaline carbonatite-hosted niobium-tantalum-rare earth element ("
Nb-Ta-REE
") mineralization. The
property exhibits distinct ring-shaped magnetic features comparable to known alkaline-carbonatite
complexes along the Kapuskasing Structural Zone ("
KSZ
"), including the Lackner Lake, Nemegosenda
Lake, and Hecla-Kilmer complexes.
Located approximately 125 kilometres north of Timmins, the Project is situated within a favourable
mining jurisdiction with established infrastructure and access.
Since staking the Project in 2022, Kenorland has completed reprocessing of regional geophysical
datasets, a 2,865 line-kilometre high-resolution aeromagnetic gradiometry and VLF-EM survey, and
limited mapping and prospecting. These programs have identified multiple prospective targets for
follow-up exploration.
The Torrance Project represents a compelling early-stage opportunity for the discovery of a carbonatite-
hosted rare earth system within a geologically prospective corridor.
Map figure 1 showing Hecla-Kilmer in relation to Torrance, on a regional-geologic map.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9768/294797_7695297604b01b97_001full.jpg
Map figure 2 showing the shape and dimension of the magnetic anomaly results from the 2022
airborne geophysical survey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9768/294797_7695297604b01b97_002full.jpg
Map figure 3 - Hecla-Kilmer airborne geophysical map showing 2
nd
derivative magnetics.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9768/294797_7695297604b01b97_003full.jpg
"The acquisition of the Torrance Project further reinforces our commitment to advancing Hecla-Kilmer as
part of a broader, district-scale opportunity within the Kapuskasing Structural Zone. The proximity and
geological similarities between Torrance and H/K strengthen our confidence that we are operating within
a highly prospective corridor for carbonatite-hosted rare earth and critical mineral systems," said
Reagan Glazier, CEO. "As we continue to build on this land position, our focus remains on disciplined
exploration and responsible development, with a strong emphasis on environmental stewardship and
meaningful engagement with local and regional stakeholders. We believe this strategic expansion
positions Neotech to play a role in supporting future domestic supply of critical minerals."
Transaction Terms
As consideration for the Project, Neotech will issue 1,000,000 Shares to Kenorland. The Shares will be
subject to a contractual lock-up for a period of 24 months following closing, during which time Kenorland
has agreed not to sell, transfer, or otherwise dispose of the Shares, subject to customary exceptions
including transfers to affiliates and in connection with a change of control of Neotech.
Pursuant to the Purchase Agreement, Neotech has also committed to complete a minimum of 2,000
metres of diamond drilling on the Project on or before the third anniversary of closing (the "Drilling
Commitment"), subject to customary force majeure provisions. If Neotech does not satisfy the Drilling
Commitment by such date, Kenorland has the right to require Neotech to assign its interest in the Project
back to Kenorland for nominal consideration, with the Project in good standing.
The Project remains subject to the existing 2.0% net smelter returns royalty held by Kenorland Royalties
Ltd., a wholly-owned subsidiary of Kenorland. Neotech may buy back 1% of the net smelter returns
royalty for $5,000,000. Closing of the transaction remains subject to customary conditions, including
receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange, if
required, and Canadian Securities Exchange.
Exploration Season 2026
A target definition and subsequent drill campaign is expected for 2026, subject to permitting and
financing. Neotech will disclose any additional plans for the project, including updated research from any
data consolidations.
ON BEHALF OF THE BOARD
Reagan Glazier, Chief Executive Officer and Director
Neotech Metals Corp.
About the Neotech Metals
Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing
valuable mineral resources within promising jurisdictions around the world. With a strong commitment to
environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact
while maximizing the potential of its exploration properties.
The company has a diversified portfolio of Rare-Earth Element and Rare Metals projects, including the
Hecla-Kilmer, located 20 km from the Otter Rapids 180MW hydroelectric power generation station and
active Ontario Northway railway, along with its TREO and Foothills projects located in British Columbia.
All three projects are 100% wholly-owned.
Qualified Person
Technical Information for this news release has been prepared in accordance with the Canadian
regulatory requirements set out in National Instrument 43-101. Jared Galenzoski VP Exploration, P.Geo.,
and Qualified Person, has reviewed and approved all of the data and statements made for this news
release.
Contact Information
Reagan Glazier, CEO and Director
+1 403-815-6663
Forward-Looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian
securities legislation. Generally, forward-looking information can be identified by the use of forward-
looking terminology such as "will", "will be" or variations of such words and phrases or statements that
certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and they are from those expressed
or implied by such forward-looking statements or forward-looking information subject to known and
unknown risks, uncertainties and other factors that may cause the actual results to be materially different,
including receipt of all necessary regulatory approvals. Although management of the Company have
attempted to identify important factors that could cause actual results to differ materially from those
contained in forward-looking statements or forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. 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 Company will not update any forward-looking
statements or forward-looking information that are incorporated by reference herein, except as required
by applicable securities laws.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
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