Storm Exploration: Update on Option Payment for Miminiska and Keezhik
40638.164008.NNH1.27531133.2
News Release
Storm Exploration: Update on Option Payment for Miminiska and Keezhik
Vancouver, B.C., April 29, 2025 – Storm Exploration Inc. (TSX -V: STRM) (“ Storm” or the
“Company”) announced today that, further to its news release dated March 21, 2025, it has issued
2,092,686 common shares (each, a “Share”) at a deemed price of $0.033005 per Share to Landore
Resources Canada Inc. (the “Optionor”) as partial payment due under the option agreement dated
May 5, 2021, as amended, with the Optionor (the “Option Agreement”).
The Company will issue the remaining 6,239,385 Shares to the Optionor upon TSX Venture
(“TSXV”) approval of the requisite Personal Information Form from the Optionor. With the issuance
of the remaining Shares, the Company will have issued an aggregate of 8,332,071 Shares to the
Optionor as payment of the $275,000 cash installment due under the Option Agreement, which will
result in the Optionor holding approximately 17.4% of the Company’s issued and outstanding
Shares as of today’s date.
The number of Shares issued was calculated using the 30-day VWAP in accordance with the Option
Agreement and was subject to TSXV approval . All Shares issued will be subject to a voluntary
pooling arrangement (see the Company’s news release dated August 19, 2024), in addition to a
hold period of four months and one day from the date of issuance , in accordance with the Option
Agreement and the policies of the TSXV.
The Option Agreement contemplates the Company’s acquisition of a 100% interest in the Miminiska
and Keezhik properties from the Optionor, a wholly owned subsidiary of Landore Resources Limited,
subject to, amongst other things, scheduled payments. For further details with respect to the Option
Agreement, please refer to the Company’s news releases dated May 10, 2021, June 6, 2024, July
4, 2024, August 19, 2024 and March 21, 2025 , available for viewing on the Company’s profile on
SEDAR+ (www.sedarplus.ca).
For further information, please contact:
Storm Exploration Inc.
+1 (604) 506-2804
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: TSXV acceptance of the requisite Personal Information Form and the scheduled payments
under the Option Agreement . Forward-looking information is necessarily based upon a number of
estimates and assumptions that, while considered reasonable, are subject to known and unknown
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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, including TSXV
acceptance of the requisite Personal Information Form and failure of the Company to have sufficient
funds to make the scheduled payments under the Option Agreement. 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.