Trek Metals Limited has secured an exclusive nine-month option to acquire 100% of the Matrix Manganese Project in Mohave County, Arizona, expanding its manganese portfolio into the United States.

Under a binding agreement with Solution Mining Pty Ltd and its shareholders, Trek will pay a non-refundable option fee of A$50,000 to secure exclusivity. Exercising the option requires an additional A$150,000 cash payment. The project covers 154 unpatented lode mining claims spanning approximately 12 square kilometres, targeting the manganiferous Chapin Wash Sandstone formation within a district first explored in the 1880s.

The Arizona acquisition complements Trek’s flagship Christmas Creek Manganese and Gold Project in Western Australia’s Kimberley region. Operating in North America provides the company with an exploration asset that can be advanced during the northern Australian wet season, maintaining exploration momentum and continuous news flow throughout the year.

The transaction also broadens Trek’s exposure to the US critical minerals sector. Manganese is listed as a 100% import-reliant critical mineral in the United States, supported by domestic policies targeting domestic supply chains for lithium-ion battery and electric vehicle markets.

Trek’s Chief Executive Officer, Derek Marshall, has been an original shareholder in Solution Mining since 2023 and holds approximately 66.67% of its issued capital, having declared his material personal interest to the board. The property transfers free from a prior earn-in agreement, leaving an option to purchase a 0.5% net smelter return as the sole remaining encumbrance.

This transaction reflects the disciplined, capital-efficient approach the Board is taking to growing Trek's portfolio. Manganese is a critical mineral for which the United States is currently 100% reliant on imports, creating a strong strategic backdrop for new domestic supply. With US Government policy increasingly focused on strengthening domestic critical minerals supply chains, we believe Matrix represents a timely opportunity with significant exploration potential and a clear pathway to progressively de-risk the asset.

Matrix is also a natural, low-risk complement to Trek's existing portfolio. It provides additional exposure to manganese alongside our flagship Christmas Creek Project in WA, while importantly giving us an exploration asset that can be advanced during the northern Australian wet season. This gives us greater flexibility to maintain exploration momentum and consistent news-flow throughout the year.

— Andrew Reece, Chairman

Read the full announcement: Option to acquire Matrix Manganese Project - Arizona USA