Vancouver, British Columbia--(Newsfile Corp. - March 2, 2026) - Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that it has entered into a property option agreement (the "Agreement"), effective February 27, 2026, with Globex Mining Enterprises Inc. ("Globex") on Globex gold properties, to earn a 100% interest in and to the Joutel North-West gold and Gagne gold and copper properties (together, the "Properties"), subject to a 3% Gross Metal Royalty (GMR) on the Properties retained by Globex. The Company and Globex are not related parties and Edison retains a right of first refusal to purchase all or any portion of the GMR from Globex on the same terms that Globex would be prepared to sell pursuant to a bona fide offer from a third party.
Transaction terms are summarized below:
- On Agreement execution Edison must pay to Globex, $100,000 in cash and issue $150,000 in value of shares of Edison upon the receipt of approval from the TSX Venture Exchange (the "Exchange").
- On May 1, 2027, Edison must pay to Globex, $200,000 in cash and issue $300,000 in value of shares of Edison and Edison must complete $500,000 in exploration expenditures prior to May 1, 2027.
- On May 1, 2028, Edison must pay to Globex, $450,000 in cash, and issue $300,000 in value of shares of Edison and Edison must complete $500,000 in exploration expenditures prior to May 1, 2028.
- Prior to May 1, 2029, Edison must complete a further $1,000,000 in exploration expenditures.
- Once Edison has exercised its option and completed all conditions, Edison will own 100% of the Properties subject to a 3% GMR royalty payable to Globex.
Joutel North-West/Gagne Property Highlights[1],[2],[3]
- The Properties are situated along the South Break of the Casa Berardi Structural zone adjacent to several past producing mines including Agnico Eagle's first gold mine, the Eagle-Telbel - Eagle West deposits (historic production of approximately 1.1 million ounces from 6.2 Mt grading 5.8 g/t gold), and Poirier mine (historic production of 4.39 Mt grading 1.97% Cu, 1.84% Zn and 4.66 g/t Ag), and Joutel Copper Mine (historic production of 1.17 Mt grading 2.16% Cu).
- Orford Mining (now Alamos Gold) last worked the Joutel North-West property in 2022-2023, principally focused on the South Gold Zone. Some of the drilling highlights from the South Gold Zone drilling by Orford Mining are shown below and in Exhibits 1, 2 and 3:
- 23-JE-004 returned 1.6 m grading 4.1 g/t Au and 30.1 m @ 1.1g/t Au (see Orford Mining news release dated February 21, 2022)
- 23-JE-015 returned 54.7 m @ 1.1 g/t Au (see Globex news release dated March 30, 2023)
- 22-JE-003 returned 20.64 m @ 1.11 g/t Au including 4.15 m @ 1.78 g/t Au and 0.64 m @ 14.7 g/t Au (see Globex news release dated January 23, 2023)
- 23-JE-008 returned 15.7 m @ 1.7 g/t Au and 14.2 m @ 2.2g/t Au (see Globex news release dated April 20, 2023)
- The South Gold Zone clearly demonstrates zones for thick mineralization with potential for a higher-grade core that may continue to depth as indicated by hole 83-03 that intersected 6.3 m @ 2.9 g/t Au including 2.3 m @ 5.3g/t Au (Exhibit 3).
- There is also a potential parallel zone to the north of the South Gold Zone where hole 23-JE-007 intersected 16.1 m of 1.3 g/t Au. This alteration system remains open in all directions.
- Outside the South Gold Zone there has been limited exploration despite an abundance of geophysical and structural targets along the 11 km of property covering the south break of the Casa Berardi Structural zone and another 6 kms of strike along the Gagne property which is southwest of the main Casa Berardi Structural zone.
- The Gagne Property is contiguous to the south end of the Joutel North-West property and southwest of the main Casa Berardi Structural zone. The property hosts high-grade gold in previous trenching reported to grade up to 22.6 g/t Au over 1.5 metres. This sector of the property has received limited exploration work to date. The Gagne Property also has a number of copper and silver drill hole intersections in drill hole VAL-01 of up to 1.63% Cu and 11.5 g/t Ag over 0.7 m and Joutel PS drilling returning results of up to 7.86% Cu, 72.2 g/t Ag and 0.20 g/t Au over 2.21 m.
- There are 46 mining claims on the Joutel North-West property and 24 mining claims on the Gagne property in the Eeyou-Istchee James Bay Territory of Quebec, about 65 km south-west of Matagami and 8 km northwest of the former mining village of Joutel. The Properties are accessible by Highway 109 and a there is high voltage power to the former producing Agnico Eagle Gold mine Eagle-Telbel nearby.
Exhibit 1. Joutel North-West Property Geology and Historic Exploration
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Exhibit 2. Joutel North-West South Gold Zone and North Gold Zone Drilling Plan Map
Note: Intercepts are historic and are core length not true thickness.
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Exhibit 3. Long Section of the South Gold Zone
Note: intercepts are from historic results and represent core lengths not true thicknesses.
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Exhibit 4. Gagne Property Geology and Historic Exploration
Note: Drill hole intersections are from historic work on the property and represent core lengths and not true thickness.
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Edison looks forward to exploring the Joutel area properties, which it believes are very prospective for gold and copper mineralization. The Agreement, including the transactions contemplated thereunder, is subject to the acceptance of the Exchange.
All securities to be issued in connection with the Agreement will be subject to a statutory hold period of four months from the date of issuance in accordance with applicable Canadian securities legislation.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Roger Dahn, P.Geo., Director of the Company and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Edison Lithium Corp.
Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, alkali and other energy metal properties. The Company's acquisition strategy is based on acquiring affordable, cost-effective, and highly regarded mineral properties in areas with proven geological potential. Edison is building a portfolio of quality assets capable of supplying critical materials to the battery industry and intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.
On behalf of the Board of Directors:
A. Paul Gill
Chief Executive and Director
Tel: 416-526-3217
Email: info@edisonlithium.com
Website: www.edisonlithium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements Caution: This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). Forward-looking statements are generally identifiable by words such as "anticipate", "believe", "could", "estimate", "expect", "forecast", "intend", "may", "plan", "potential", "propose", "schedule", "should", "target", "will" and similar expressions, or by statements that events or conditions "may", "will" or "would" occur.
Forward-looking statements in this news release include, but are not limited to, statements regarding: the Company's ability to satisfy the terms, conditions and obligations under the Agreement; the anticipated timing and ability of the Company to make any required cash payments, share issuances and/or incur or fund exploration expenditures in order to acquire the Properties; the ability of the Company to obtain all necessary approvals (including the acceptance of the Agreement by the Exchange); the expected exploration, work program and/or development plans on the Properties, including the scope and timing and results thereof; the ability to secure access to the property, permits and authorizations; and the Company's ability to raise additional capital to fund exploration and satisfy obligations under the Agreement.
Forward-looking statements are based on management's reasonable assumptions, estimates, expectations and opinions as of the date of this news release. Such assumptions include, without limitation: that the parties will be able to perform their respective obligations under the Agreement in a timely manner; that the Company will be able to obtain all required approvals and maintain good standing under the Agreement; that exploration and related activities can be planned and carried out as anticipated; that required permits, authorizations and access can be obtained on terms and timelines acceptable to the Company; that commodity prices, foreign exchange rates, general economic conditions, and capital markets will be supportive of the Company's plans; that the Company will be able to obtain financing when required on reasonable terms; and that no material adverse changes will occur with respect to the Company's business, assets or the Properties.
The forward-looking statements in this news release also reflect the Company's current understanding of the Properties based on information available to it as of the date hereof. The property is at an early stage of exploration and, until exploration work is completed and results are analyzed and verified, the Company cannot confirm the merits of the Properties, including whether the property hosts mineralization of interest. Any references in this news release to the property's "potential", "prospectivity" or "exploration upside" are inherently speculative and based on incomplete information and assumptions that may prove incorrect. The presence of past-producing mines and deposits in the area is not necessarily indicative of mineralization on the Properties. The referenced mines and deposits are not on the Properties, and their historic production do not imply that similar mineralization occurs on the Properties or that exploration will be successful.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that the Company may not satisfy the conditions to, or may otherwise be unable to, acquire the Properties under the Agreement; the risk of termination of the Agreement; the risk that required Exchange approval may not be obtained; risks inherent in the exploration and development of mineral properties, including risks related to geology, sampling and assay variability, interpretation of exploration results, and the possibility that exploration results may not support further work; the speculative nature of mineral exploration and development; the risk that the merits of the property may not be realized; the availability of financing and changes in general economic and capital market conditions; fluctuations in commodity prices and exchange rates; changes in laws, regulations and policies, including permitting and environmental requirements; operational and logistical risks (including equipment availability, contractor performance, accidents, weather, wildfires, flooding and other natural events); title matters, including defects in title, competing claims, or the inability to obtain or maintain necessary rights of access; and other risks and uncertainties described in the Company's continuous disclosure filings available under the Company's profile on SEDAR+ at www.sedarplus.ca.
Although the Company believes that the forward-looking statements contained in this news release are reasonable as of the date hereof, there can be no assurance that they will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update or revise any forward-looking statements, except as required by applicable securities laws.
[1] Orford Mining Corporation - 2023 Assessment Report on the Joutel-Eagle Property by S. Jake Burden, P.Geo. (OGQ #01932) dated October 31, 2023
[2]Entreprises Minieres Globex Inc. - Propriete Eagle Northwest- Rapport de Compilation by Luc Rioux, B.Sc., P.Geo. (OGQ #861) dated September 15, 2020
[3] Entreprises Minieres Globex Inc. - Propriete Gagne - Rapport de Compilation by Luc Rioux, B.Sc., P.Geo. (OGQ #861) dated October 27, 2020
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Source: Edison Lithium Corp.
