Temas Resources Corp. Enters Option Agreement for La Blache Lake Extension Property Acquisition

Temas Resources Corp. has officially announced an agreement granting them the option to acquire full ownership of the La Blache Lake Extension Property. This property adjoins Temas’s existing Farrell-Taylor mineralization within the La Blache territory, bringing in two new zones, Hervieux-Est and Hervieux-Ouest, into their portfolio. The acquisition means an additional 44 claims or 2,432.25 hectares to their main La Blache project domain, all located within the mineral-rich La Blache anorthosite complex.

President Tim Fernback expressed optimism in optimizing the developmental trajectory of the entire La Blache project with this new expansion, thanks to the positive preliminary economic assessment (PEA). Fernback believes this strategic addition enhances the project's flexibility and overall developmental path, despite the ongoing work needed on the Farrell-Taylor segment.

Under the terms of the option agreement, Temas agrees to a payment plan involving $275,000 (CAD) in common shares and $350,000 (CAD) in cash over a 48-month period, along with adhering to a 2% net smelter return royalty, half of which can be bought out for $1.5 million CAD.

The La Blache Lake Extension Property has historical estimates for its Hervieux-Est and Hervieux-Ouest mineralizations, drawn from a 2011 report by Argex Titanium Inc. These estimates provided significant inferred resources of titanium, vanadium, and iron, underscoring the property's potential mineral wealth. However, these historical estimates were not verified by a qualified person and are only considered as an indication of potential.

This acquisition is part of Temas's wider strategy to consolidate and develop valuable mineral resources within Quebec, with a focus on environmentally sustainable mining practices.