Total Metals Corrects Disclosure on Menary Gold Project Acquisition
I'm LongbridgeAI, I can summarize articles.Total Metals Corp. has corrected its disclosure regarding the acquisition of the Menary Gold Project, which consists of 27 mining claims and 1 mining lease in Ontario. The acquisition involves payments totaling $1,010,000 in cash and shares over four years. The project has shown high-grade gold samples, confirming its potential. The first payment was made on March 24, 2026, with shares issued at a deemed price of $0.41365. Total Metals is also focused on its Electrolode Project and other properties in Ontario and Manitoba.
(TheNewswire)
March 24, 2026 – TheNewswire - Toronto, ON - TotalMetals Corp. (“TotalMetals” orthe “Company”) (TSX-V:TT) (OTCQB: TTTMF) (FSE: O4N) restates its press release from Monday,March 23, 2026.
Total Metals is pleased to announce the closing of itsacquisition of the Menary Gold Project (the “Property”), aspreviously announced on December 22, 2025 (the“Transaction”).
Menary Gold Project
As previously disclosed in the Company’s pressrelease dated December 22, 2025, the Propertyconsists of 27 mining claims and 1 mining leasecomprising an area of 276.5 hectares and isstrategically located in the Kenora Mining Division of Ontario. TheProperty shares a common southern boundary with the Rainy River claimsbeing acquired by Coeur Mining, Inc. ("Coeur") following its ~US$7 billion acquisition of New Gold Inc.
Property Highlights:
- Galbraith "A" Zone GrabSamples: Exceptional high-grade grab samplesreturning 8,120 g/tAu, 1,885 g/t Au, and 1,400 g/t Au,confirming the presence of bonanza-grade shoots.
- Galbraith "A" ChannelSampling: Continuous channel sampling across theshear structure returned 243.00 g/t Au over 1.0 metre and 45.38 g/t Au over 1.0 metre, demonstrating width continuity of the high-gradezones.
- Wagg Zone Drilling: Diamond drill hole MIN-11-18 intersected 16.99 g/t Au over 6.3 metres (core length), identifying a new, previously unknownmineralized zone at depth.
- Strategic Location: The Menary Property is located approximately 65 km northwestof Fort Frances and borders the land package of the Rainy River Mine.The recent acquisition of New Gold by Coeur Mining for an estimated $7billion validates the district as a premier North American miningjurisdiction.
Transaction Details
Pursuant to the Option Agreement, the Destroismaisonsgranted the Company an exclusive right to acquire a 100% interest inthe Property, subject to an existing NSR (as defined below), by makingaggregate payments of $1,010,000 in cash and issuing $1,010,000 incommon shares in the capital of the Company (each, a “Share”) over afour-year period.
The consideration is structured as follows: (i)$210,000 in cash and $210,000 in Shares within five days of TSXVacceptance (the “FirstPayment”); and (ii) $200,000 in cash and$200,000 in Shares on each of the first, second, third, and fourthanniversaries of the Acceptance. Share issuances will be priced basedon the prior 20-day volume weighted average price of the Sharestrading on the TSXV, with $0.35 per share being the minimum shareprice and an aggregate maximum of 2,885,714 being issued. Uponcompletion of all payments and Share issuances, the Company will haveearned a 100% interest in the Property, subject to the net smelterroyalty of four and a half percent (4.5%) payable to Western TroyCapital Corp. (as to 3%) and William McNerney (as to 1.5%) (the“NSR”).
The Transaction was arm’s length. The First Payment,consisting of a cash payment of $210,000 and the issuance of 507,678common shares at a deemed price of $0.41365 per share, was made onTuesday, March 24, 2026. The shares are subject to a standard fourmonth and one day hold period, as required by National Instrument45-106 – ProspectusExemptions and are not subject to any additionalescrow or resale restrictions
Qualified Person
Robert Penczak, M.Sc., P.Geo (Ontario), Vice Presidentof Exploration for the Company and a Qualified Person as defined byNational Instrument 43-101, has reviewed and approved the scientificand technical information used in this news release.
About Total Metals Corp.
Total Metals Corp. is focused on its 100% ownedElectrolode Project covering over 3,300 contiguous hectares innorthwestern Ontario. The Electrolode Project is targetinghigh-potential critical mineral plus gold resources and targets inthree favorable geologic trends, located near major mines in the RedLake Gold camp and is strategically located between Kinross Gold’sGreat Bear Project and First Mining Gold’s Springpole Project. TheElectrolode Project is fully permitted for exploration drilling and hosts10 historic mineralized zones with significant expansion potentialplus new, untested targets ready for further exploration. Total Metals alsoowns 100% of the High Lake andWest Hawk Lake Project covering 958 hectares intwo gold properties located along the Trans-Canada Highway straddlingthe Manitoba / Ontario border. The Purex Zone on the High Lake propertyhas significant exploration potential and will be the primary targetfor initial exploration and potential future mining activities. TheWest Hawk Lake property is comprised of a single mineral lease, locatedwithin southeastern Manitoba.
www.totalmetalscorp.com
Cautionary Statements
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in its policies of the TSXVenture Exchange) accepts responsibility for the adequacy of thisrelease.
Tyler Thorburn
President and Chief Executive Officer
info@totalmetalscorp.com
(416) 873-7662
Forward-Looking Information
This press release includes “forward-lookinginformation” that is subject to assumptions, risks anduncertainties, many of which are beyond the control of the Company.Statements in this news release which are not purely historical areforward looking. Although the Company believes that anyforward-looking statements in this news release are reasonable, therecan be no assurance that any such forward-looking statements willprove to be accurate. The Company cautions readers that allforward-looking statements, are based on assumptions none of which canbe assured and are subject to certain risks and uncertainties thatcould cause actual events or results to differ materially from thoseindicated in the forward-looking statements. Such forward-lookingstatements represent management’s best judgment based on informationcurrently available. Readers are advised to rely on their ownevaluation of such risks and uncertainties and should not place unduereliance on forward-looking statements.
The forward-looking statements and informationcontained in this news release are made as of the date hereof and noundertaking is given to update publicly or revise any forward-lookingstatements or information, whether as a result of new information,future events or otherwise, unless so required by applicablesecurities laws or the TSX-V. The forward-looking statements orinformation contained in this news release are expressly qualified bythis cautionary statement.
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