Visible GOLD Announces the Sale of Its Non-Core Megali Lithium Property to PMET Resources
News Release
News Release
VISIBLE GOLD ANNOUNCES THE SALE OF ITS NON-CORE MEGALI
LITHIUM PROPERTY TO PMET RESOURCES
Rouyn-Noranda, Québec, Canada – August 24, 2026 – Visible Gold Mines Inc. ("Visible
Gold" or the "Company") (TSXV: VGD) (FRANKFURT: 3V41) is pleased to announce that
it has entered into a purchase and sale agreement dated August 24, 2026 (the "Agreement")
with PMET Resources Inc. ("PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE:
R9GA) and Noranda Royalties Inc. (“Noranda Royalties”), pursuant to which PMET will
acquire a 100% interest in the Company's wholly owned 78 exclusive exploration rights
comprising the MegaLi lithium property (the "MegaLi Project"), and a 100% interest in
41 exclusive exploration rights wholly owned by Noranda Royalties (collectively with the
MegaLi Project, the "Properties"), located in the James Bay region of Québec, Canada.
CEO QUOTE
Jean-Marc Lacoste, President and CEO of Visible Gold, stated: "Since joining the Company,
I have made a firm commitment to focus Visible Gold's activities on our core competency:
gold exploration and development. The sale of our MegaLi Project to PMET, a dedicated
lithium explorer, represents the best outcome for the Company, as the project is directly
adjacent to PMET's flagship lithium asset. This transaction also provides Visible Gold with a
royalty interest should the Properties advance to production."
ACQUISITION TERMS
As consideration for the acquisition of a 100% interest in the MegaLi Project, PMET will make
a cash payment of $201,000 to Visible Gold. In addition, PMET will grant Visible Gold a
1.34% net smelter returns royalty on the Properties (the “NSR Royalty”), subject to a
voluntary purchase option, at the sole discretion of PMET, pursuant to which PMET will have
the right, at any time, to purchase from the Company 50% of the NSR Royalty in
consideration for a cash payment of $670,000 (the "First Buyback Right") and, following
the exercise of the First Buyback Right, the subsequent right to purchase from the Company
the remaining 50% of the NSR Royalty in consideration for a cash payment of $2,010,000
(the "Second Buyback Right", and together with the First Buyback Right, the "Buyback
Rights"). In connection with the transaction, PMET also granted a 0.66% net smelter returns
royalty on the Properties to Noranda, which royalty is also subject to buyback rights for an
aggregate amount of $1,320,000.
The Agreement remains subject to the receipt of all required regulatory approvals, including
approval from the TSX Venture Exchange. Closing of the transaction is anticipated within the
next ten days.
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About Visible Gold Mines Inc.
Visible Gold Mines (TSXV: VGD) (FRANKFURT: 3V41) is a mining exploration company
focused on acquiring, exploring and developing gold projects in the prolific Abitibi Gold Belt
and the James Bay region in the province of Québec.
For further information, please contact:
Jean-Marc Lacoste, President and Chief Executive Officer
Telephone: (819) 762-0107
Email: [email protected]
Website: www.visiblegoldmines.com
Forward-Looking Statements
This news release contains statements that may constitute “forward-looking information” within the
meaning of applicable Canadian securities legislation. Forward-looking information may include,
among others, statements regarding the future plans, costs, objectives or performance of Visible
Gold, or the assumptions underlying any of the foregoing. In this news release, words such as “may”,
“would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar
words and the negative form thereof are used to identify forward-looking statements. Forward-looking
statements should not be read as guarantees of future performance or results, and will not necessarily
be accurate indications of whether, or the times at or by w hich, such future performance will be
achieved. No assurance can be given that any events anticipated by the forward-looking information
will transpire or occur, including, if the transaction described in this news release (the “Transaction”)
will occur, or if it does, when the closing date will occur, and if regulatory approval will be obtained for
the Transaction, and whether PMET will ever exercise any of the Buyback Rights, or whether the
Company will ever receive any payments under the NSR Royalty. Forward-looking information is
based on information available at the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks, uncertainties, assumptions and other
unpredictable factors, many of which are beyond Visible Gold’s control. These risks, uncertainties
and assumptions include, but are not limited to, those described under “Financial Risks” and “Risk
Factors” in Visible Gold’s Annual Report for the fiscal year ended July 31, 2025, a copy of which is
available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially
from those projected in any forward-looking statements. Visible Gold does not intend, nor does Visible
Gold undertake any obligation, to update or revise any forward-looking information contained in this
news release to reflect subsequent information, events or circumstances or otherwise, except if
required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the
release.