VR Resources Ltd. has agreed to extend the outside completion date for the farm-out of its Empire and Silverback copper-nickel-PGM-gold projects in Ontario to Athos Metals Corp. until September 30, 2026. Alongside the extension, the cash consideration payable to VR Resources upon closing has been increased from $200,000 to $250,000.

Under the terms of the conditional transaction, VR Resources will hold approximately 9.9% of the resulting issuer's shares following Athos Metals' proposed go-public transaction with Meed Growth Corp. Athos Metals submitted its filing statement to the TSX Venture Exchange in August 2026 and anticipates completing the public listing in the coming months.

The transaction advances the district-scale copper-nickel-PGM exploration strategy that VR Resources initiated at the Empire project in 2024, which included a maiden reconnaissance drill program at the Westwood target in February 2025.

Athos Metals has scheduled a property site visit to the Empire project in early September 2026 for drill program scoping and planning. Follow-up drilling is anticipated later in the fall of 2026 once final data from a completed VTEM+ airborne geophysical survey is integrated with existing project data to prioritize specific drill targets.

“We are pleased to see the Empire exploration strategy and transaction continue to move forward. We believe in the copper-nickel-PGM-gold potential, and our 9.9% ownership position in Athos will provide the Company with significant exposure to the upside potential of this district-scale project that we initiated two years ago.”

“Further, that upside potential is near-term. With the VTEM+ airborne survey now complete, follow-up drilling is anticipated for later this fall, based on an ongoing integration of an ever-expanding array of the project database in order to prioritize drill targets.”

— Dr. Michael Gunning, Chief Executive Officer

Preparations for the upcoming autumn drill campaign follow the receipt of add-on inversion products and reports from Geotech Ltd. for the VTEM+ airborne survey in July and August 2026, with an independent geophysical summary interpretations report expected by September 4, 2026.

Read the full announcement: VR Releases AGM Results and Provides Update on Empire Transaction