Errington Metals Corp. has signed a definitive purchase agreement with Vale Canada Limited to acquire 24 freehold parcels and four mining licences of occupation known as the Mid Zone property, connecting its Vermilion and Errington properties in Ontario’s Sudbury Basin.

To complete the transaction, Errington will issue 2,336,472 common shares to Vale on closing, representing approximately 4.99% of its issued shares on a non-diluted basis. The deal brings Vale onto the register alongside existing shareholder Glencore, adding two major Sudbury operators to the company's backing. The agreement also includes a 1.5% net smelter returns royalty, which rises to 2.5% if Errington does not incur $2,000,000 in exploration expenditures within five years, subject to certain conditions. Subsidiary Errington Metals Inc. has also agreed to pay two separate $5,000,000 cash milestones upon achieving commercial production and after producing and processing five million tonnes of run-of-mine ore.

The acquisition expands the Sudbury Basin Project land position by 1,270 hectares to a total of approximately 9,000 hectares, excluding the Garson Property. The addition bridges previously separate ground and establishes a continuous prospective strike length of over 20 kilometres along favourable host rock sequences.

The Mid Zone property exposes the Vermilion Formation chert-carbonate unit at surface, which hosts mineralization across the wider project. Historical exploration more than 30 years ago intersected near-surface polymetallic mineralization. Errington plans to carry out reconnaissance field work and geophysical surveys to connect existing datasets and generate drill targets ahead of a planned 45,000-metre drill program designed to support an initial mineral resource estimate.

Closing is subject to regulatory and third-party approvals, including TSXV clearance, with completion expected no later than October 20, 2026.

“This Acquisition represents an important step in advancing the Sudbury Basin Project and expanding Errington's exposure to the favourable host rock sequences associated with our known mineralized zones,” said Matthew Gollat, President and CEO of Errington Metals. “We believe this acquisition strengthens the strategic relevance of our land position and provides further validation of the project's scale and potential.”

— Matthew Gollat, President and CEO of Errington Metals

Prior spring drilling across the wider project has continued to intersect high-grade mineralization, including an 11.0-metre intercept grading 6.41% copper equivalent in hole EME-26-086.

Read the full announcement: Errington Metals Signs Definitive Agreement to Acquire Additional Sudbury Basin Mineral Properties