Vancouver, British Columbia--(Newsfile Corp. - October 22, 2025) - DARK STAR MINERALS INC. (CSE: BATT) (the "Company" or "Dark Star") is pleased to announce that it has entered into an amendment agreement (the "Amendment Agreement") dated October 15, 2025, with Evan Bell and David Langlais (together, the "Vendors"), amending certain terms of the purchase and sale agreement dated April 18, 2025 (the "Agreement") relating to the acquisition of 100% of the Vendors' legal and beneficial right, title and interest in and to certain mineral claims known as the "Bleasdell Project."
Marc Branson, President and Chief Executive Officer of Dark Star, commented: "We are thrilled to be looking to close on this acquisition and to add a 100% owned project to our portfolio. The Bleasdell Project represents a significant step forward in our strategy to build a robust pipeline of critical mineral assets, and we look forward to advancing its development."
Key Terms of the Amendment Agreement
Under the Amendment Agreement, the aggregate consideration payable pursuant to the Agreement is amended as follows:
- The aggregate cash consideration payable by the Company to the Vendors is $200,000, to be paid on a pro rata basis as follows:
(a) $25,000 (already paid) within five days of the execution of the non-binding letter of intent dated March 31, 2025;
(b) $75,000 within fifteen days of receipt by the Company of Exchange Acceptance;
(c) $100,000 on the date that is six months from the date of the Amendment Agreement.
- The Company will issue an aggregate of 6,500,000 common shares to the Vendors, on a pro rata basis, as follows:
(a) 5,000,000 common shares (each, a "Share") within fifteen days of receipt of Exchange Acceptance;
(b) 1,500,000 shares on the date that is six months from the date of the Amendment Agreement.
- The Vendors will be granted a 2.0% net smelter return royalty on the Bleasdell Project.
The amendments set forth in the Amendment Agreement remain subject to the review, comment and approval of the Canadian Securities Exchange (the "CSE") and will only become effective upon receipt of such Exchange Acceptance. Except as amended by the Amendment Agreement, the Agreement continues to be binding, unchanged, and in full force and effect.
As of the date of this news release, the Company has paid an aggregate of $200,000 in cash and issued 5,000,000 Shares to the Vendors. All securities issued in connection with the Amendment Agreement will be subject to a statutory hold period expiring four months and one day from the date of issue.
For more information on the Agreement and the Bleasdell Project, see Dark Star's news releases dated April 1, 2025, April 22, 2025, May 8, 2025 and June 3, 2025 each available under its profile on SEDAR+.
Clarification of Prior Stock Options Grant
The Company wishes to clarify that, as previously announced on October 14, 2025, it granted an aggregate of 3,000,000 options (each, an "Option") to purchase Shares to certain directors, officers and consultants of Dark Star. Each Option is exercisable at an exercise price of $0.07 per Share, not $0.05 per Share as previously stated, and vests immediately upon the date of grant. The Options are exercisable for a three (3) year term and are subject to the four (4) month exchange hold period.
About Dark Star Minerals Inc.
Dark Star Minerals Inc. is a mineral exploration company focused on the strategic development of uranium and critical mineral resources.
For further information please contact:
Marc Branson - President, Chief Executive Officer and Director
E-mail: investors@darkstarminerals.com
Telephone: 604-816-2555
Forward-Looking Statements:
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the completion and effectiveness of the Amendment Agreement and the acquisition of the Bleasdell Project. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including those additional risks set out in the Company's public documents filed on SEDAR+ at www.sedarplus.ca. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271448
SOURCE: Dark Star Minerals Inc.
