New Age Metals Inc. has executed a definitive property option and joint venture agreement with Rockport Capital Corp. covering the Genesis nickel-copper-platinum group metals property in south central Alaska, advancing the arrangement from the non-binding terms set out in May 2026.

Under the definitive agreement dated September 1, 2026, Rockport has been granted the right to earn an initial 50% interest in the 10,240-acre property by paying $25,000 in cash, issuing 1,000,000 common shares to New Age Metals, and funding at least $250,000 in exploration expenditures within 12 months of closing. The transaction is intended to serve as Rockport’s qualifying transaction under the policies of the TSX Venture Exchange.

Rockport can subsequently elect to form a joint venture and secure an additional 20% interest, bringing its aggregate stake to 70%, by paying a further $10,000, issuing an additional 250,000 common shares, and funding an extra $750,000 in exploration expenditures within 36 months. If Rockport does not elect to increase its stake, the parties will form a 50/50 joint venture operating under the same cash, share and expenditure obligations.

New Age Metals will remain the project operator throughout all stages, including any joint venture period, drawing on its established technical team and operating infrastructure in Alaska. The company will receive an operator service fee of 4% of exploration expenditures during the initial earn-in phase, rising to 8% of direct program costs at the joint venture stage.

The Genesis property is held by New Age Metals through its wholly-owned Alaskan subsidiary, Pacific North West Capital Corp. USA, and remains subject to an existing 3% net smelter return royalty held by Anglo Alaska Gold Corp. Previous exploration across the road-accessible project area identified two distinct settings of magmatic reef-style mineralization, including chromate-hosted platinum group elements returning up to 2.4 g/t palladium and 2.4 g/t platinum, alongside nickel-copper sulphide mineralization with grades reaching up to 0.96% nickel and 0.58% copper.

Completion of the qualifying transaction remains subject to several conditions, including receipt of TSX Venture Exchange acceptance, approval by a majority of the minority shareholders of Rockport, and completion of Rockport’s concurrent financing to raise between $750,000 and $2,000,000 in gross proceeds.

Read the full announcement: New Age Metals Enters Into Definitive Option And Joint Venture Agreement With Rockport Capital Corp. On The Genesis NI-CU-PGE Project, Alaska