Visionary Secures Strategic Exploration Alliance, Announces Private Placement of $1.22M to Advance Wyoming Nickel Sulfide Exploration
Visionary Secures Strategic Exploration
Alliance, Announces Private Placement of
$1.22M to Advance Wyoming Nickel Sulfide
Exploration
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2025) -
Visionary Metals Corp. (TSXV: VIZ)
("
Visionary
" or the "
Company
") is pleased to announce it has entered into an Exploration Alliance
Agreement (the "
Alliance
") through its wholly-owned subsidiary, Lost Creek Corp. ("
Lost Creek
"), and
Teck American Incorporated ("
Teck
"), a subsidiary of Teck Resources Limited, to advance nickel
exploration on Visionary's 40 square kilometer land package in the Granite Mountains of Central
Wyoming.
Under the Agreement, Visionary will collaborate with Teck to conduct nickel exploration with a specific
focus on the Tin Cup, King Solomon, and Diamond Springs claim groups, within a defined Alliance Area
of Interest. The Alliance aims to identify and develop economically viable nickel, copper and platinum
group element deposits in Wyoming's Granite Mountains.
Visionary CEO Wes Adams commented: "It's a privilege to be working with Teck, a leading Canadian
resource company focused on responsibly providing metals essential to economic development and the
energy transition. This partnership combines Visionary's deep local geological expertise with Teck's
significant global exploration and mining experience. Together, we are uniquely positioned to unlock
significant value for shareholders. Our upcoming exploration program, starting with a comprehensive
geophysical survey, exemplifies our joint commitment to making new discoveries in this high-potential
district."
Strategic Exploration Alliance Highlights:
Initial Funding
: Teck will subscribe for 17,392,193 common shares of Visionary at $0.07 per
share, providing $1,217,454 in gross proceeds, representing 9.9% of Visionary's issued and
outstanding shares on a non-diluted basis. These proceeds will be used to fund initial exploration
activities.
Subsequent Funding
: If Visionary completes an additional equity financing during the Alliance
term, Teck may invest up to $500,000 on terms no less favorable than other investors, potentially
increasing its ownership up to 19.9% on a partially diluted basis, subject to TSX Venture Exchange
approval.
Exploration Program
: Visionary will manage exploration programs, incurring expenditures equal
to or exceeding the combined proceeds from Teck's investment and any government grants during
the Alliance period (ending December 31, 2026, subject to extensions). Teck may fund additional
exploration through optional three-month extensions, contributing $300,000 per extension.
Option for Teck
: Teck has the exclusive option to earn a 70% interest in designated properties by
incurring exploration expenditures within three years of designation, as follows:
Diamond Springs Property
: $4,000,000, including a firm commitment of $500,000 within
one year of designation.
King Solomon or Tin Cup Properties
: $6,000,000 each, including a firm commitment of
$750,000 within one year of designation.
Newly Designated Properties
: $500,000, including a firm commitment of $100,000 within
one year of designation.
Upon exercising the option, Teck will own 70% and Visionary 30% of the designated
property, and the parties will form a joint venture. If Teck completes 50% of the required
expenditures, but does not exercise the option, it will receive a 1% net smelter return ("
NSR
")
royalty and rights to 50% of future concentrate production from the property.
Joint Venture Terms
: Post-option exercise, each party will fund its pro-rata share of
expenditures, with dilution for non-contribution. If a party's interest falls below 20%, it converts to a
2% NSR royalty, with a buy-back right for 1% at $4,000,000. The majority interest holder will
operate the joint venture.
Technical Oversight
: A Technical Committee, with two representatives each from Visionary and
Teck, will oversee exploration programs, with Teck holding a tie-breaking vote to ensure efficient
decision-making.
Next Steps:
Visionary and Teck have agreed in principle to conduct a Variable Frequency Time Domain
Electromagnetic ("
VTEM
") survey covering Visionary's Wyoming land package, which is designed to
detect possible massive sulfide zones existing at depth within ultramafic rock bodies identified by
Visionary at Tin Cup, King Solomon and Diamond Springs. Additional geophysical work and
preparation for drill testing of these targets is expected to follow.
About Visionary Metals Corp.
Visionary Metals Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange
and focused on making new base metals discoveries in Central Wyoming. Visionary's mission is to
explore responsibly and develop resources in a manner that is beneficial to all stakeholders.
For further information, please contact:
Wes Adams, CEO
Visionary Metals Corp.
407-325 Howe Street
Vancouver, BC V6C 1Z7
Tel: (303) 809-4668
Email:
Cautionary Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward-
looking statements involve known and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements, or developments in the industry to differ materially from
the anticipated results, performance or achievements expressed or implied by such forward-looking
statements.
Forward looking statements are statements that are not historical facts and are generally,
but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends,"
"estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would,"
"may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding the Company's
expectations regarding the commencement and timing of exploration activities by the Company, the
closing of the transactions disclosed in the press release, including the completion of the initial
funding (including the approval of the TSXV with respect thereto) and any subsequent funding, the
completion of exploration activities, the exercise of any option by Teck and the funding related thereto
and the entering into of any joint venture, the use of proceeds from any funding and other statements
that are not historical facts.
By their nature, forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause our actual results, performance or
achievements, or other future events, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such factors and risks
include, among others:
the TSXV may refuse to grant approval of the transactions contemplated in
this press release; the transactions described in this press release may not close; the Company may
reallocate the proceeds of any funding for reasons that management believes are in the Company's
best interests; the Company may choose to defer, accelerate or abandon its exploration plans; Teck
may choose not to exercise any option; new laws or regulations and/or unforeseen events could
adversely affect the Company's business and results of operations; stock markets have experienced
volatility that often has been unrelated to the performance of companies and such volatility may
adversely affect the price of the Company's securities regardless of its operating performance risks
generally associated with the exploration for and production of resources; the uncertainty of estimates
and projections relating to expenses;
constraint in the availability of services; commodity price and
exchange rate fluctuations; adverse weather conditions; and uncertainties resulting from potential
delays or changes in plans with respect to exploration or development projects or capital
expenditures.
When relying on forward-looking statements and information to make decisions, investors and others
should carefully consider the foregoing factors and risks and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraphs will not
cause such forward-looking statements and information to differ materially from actual results or
events.
However, the list of these factors is not exhaustive and is subject to change and there can be
no assurance that such assumptions will reflect the actual outcome of such items or factors.
The
reader is cautioned not to place undue reliance on any forward-looking information. Such information,
although considered reasonable by management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated. Forward-looking statements contained
in this press release are expressly qualified by this cautionary statement. The forward-looking
statements contained in this press release are made as of the date of this press release.
The
Company does not intend, and expressly disclaims any intention or obligation to, update or revise
any forward-looking statements whether as a result of new information, future events or otherwise,
except as required by law.
This press release is not for distribution to U.S. news services or for dissemination in the United
States.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any
securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
Neither the 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 this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/260777