Storm Exploration Amends Option Agreement for Miminiska & Keezhik
News Release
February 8, 2024
TSX-V: STRM
Storm Exploration Amends Option Agreement for Miminiska & Keezhik
Vancouver, B.C., February 8, 2024 – Storm Exploration Inc. (TSX-V: STRM) (“StormEx” or the
“Company”) today announced that the Option Agreement to acquire a 100% interest in the
Miminiska and Keezhik gold properties has been amended.
Option Agreement Amendment
StormEx and Landore Resources Canada Inc. (“Landore”) have agreed to amend the Option
Agreement to acquire a 100% interest in the Miminiska and Keezhik Properties (see news release
dated May 10th, 2021: StormEx Signs Option Agreement to Acquire 100% Interest in Miminiska &
Keezhik Properties). The amendment modifies the schedule of remai ning option payments which
are outlined in Table 1. All other aspects of the Option Agreement remain unchanged.
Key Points
• Payment dates for the final two instalments have each been extended by six months.
• The final two payments will be increased by 5% however, the increase can be reduced to
2.5% if payment is made at least two months prior to the revised due date.
• StormEx will make a good faith payment of $50,000 to Landore upon completion of
$1,500,000 of financings in aggregate.
Table 1: Remaining Option Payments for a 100% interest in Miminiska and Keezhik Properties
Payment Date Cash Convertible Shares1
May 24th, 2024 $262,500 $525,000
November 24th, 2024 $525,000 $787,500
Total $787,500 $1,312,500
1StormEx can elect to make Convertible Share payments in cash or STRM shares with the
number of shares defined by the 30-day volume weighted average price prior to the date of
election.
About the Miminiska Property
The Miminiska Property is the Company’s key focus and comprises approximately 5,500 ha of
patented and unpatented mineral claims covering abundant banded iron formation. The property
includes the Miminiska and Frond Prospects where historical drilling has confirmed the presence of
high-grade gold. Exploration work in the project area has identified several gold occurrences
between Miminiska and Frond (see Figure 1). These previous results highlight the potential for
additional discoveries of high-grade gold on the project.
2
Figure 1: Miminiska Property
* Historical results have not been independently verified by StormEx; and, there is no guarantee
that the Company can reproduce the results in whole or in part. Potential investors should not rely
on these historical results when making an investment decision.
First Nations
StormEx is actively working towards a Memorandum of Understanding with the Eabametoong First
Nation and will provide an update on its progress in the coming weeks.
Qualified Person
The technical contents of this news release have been reviewed and approved by Bruce Counts, P.
Geo., President, CEO and a Director of Storm Exploration Inc. and Qualified Person under National
Instrument 43-101.
3
About Storm Exploration Inc.
Storm Exploration Inc. is a Canadian mineral exploration company focused on the discovery and
development of economic precious and base metal deposits on four district-scale projects in
northwest Ontario: Miminiska, Keezhik, Attwood and Gold Standard.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy
or accuracy of this release.
Forward Looking Information
This news release includes certain information that may constitute “forward-looking information”
under applicable Canadian securities legislation. Forward-looking information includes, but is not
limited to, the Company’s strategic plans, future operations, future work programs and objectives.
Forward-looking information is necessarily based upon a number of estimates and assumptions
that, while considered reasonable, are subject to known and unknown risks, uncertainties, and
other factors which may cause the actual results and future events to differ materially from those
expressed or implied by such forward-looking information. There can be no assurance that such
information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such information. Accordingly, readers should not place undue reliance
on forward-looking information. All forward-looking information contained in this press release is
given as of the date hereof and is based upon the opinions and estimates of management and
information available to management as at the date hereof. The Company disclaims any intention
or obligation to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by law.
For further information, please contact:
Storm Exploration Inc.
+1 (604) 506-2804