ROUYN-NORANDA, QC, April 21, 2026 /CNW/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) is pleased to announce that, further to its news release dated November 28, 2025, and upon the completion or waiver of certain conditions precedent, it has completed the transaction in connection with its previously announced acquisition of a 100% interest in the Dufay Property (the "Property") located along the Cadillac-Larder Lake Fault between the Galloway Project and the Ontario border (the "Transaction").
The acquisition was completed pursuant to the previously announced asset purchase agreement entered into among the Company, Olympio Metals Limited ("Olympio") and local prospectors in respect of the Property, as amended by an amending agreement dated March 26, 2026, and as further amended by a second amending agreement dated April 20, 2026, (the "Asset Purchase Agreement"), following receipt of all necessary corporate and regulatory approvals.
Under the terms of the Asset Purchase Agreement, the Company elected to exercise its option to satisfy the payment of the Deferred Payment (as defined in the Asset Purchase Agreement), by way of a cash payment in the amount of CAD$815,685.96 to the local prospectors, instead of the issuance of the Consideration Shares (as defined in the Asset Purchase Agreement) pursuant to the terms and conditions set forth in the second amending agreement dated April 20, 2026.
In addition, under the previously announced termination agreement entered into between the Company and Olympio, as amended by an amending agreement dated March 26, 2026 (the "Termination Agreement"), in connection with the termination of the option agreement dated November 18, 2024, relating to the Property (the "Option Agreement"), the Company elected to satisfy the payment of the Termination Consideration (as defined in the Termination Agreement) by way of a cash payment in the amount of CAD$684,228.74 to Olympio, net of any applicable withholding tax, instead of the issuance of shares to Olympio under the Termination Agreement.
Olympio and the local prospectors were dealing at arm's length to the Company within the meaning of applicable securities laws. No finder's fees or commissions were paid in connection with the acquisition.
The Property totals 6,083 hectares across 115 exclusive exploration rights and increases Fokus' total land package in the region to 15,988 hectares.
About Fokus Mining Corporation
Fokus is a mineral resource company focused on the acquisition and exploration of precious metal deposits in Québec's Abitibi region. Fokus' flagship Galloway Project is located approximately 20 km west of Rouyn-Noranda, immediately north of the Cadillac-Larder Lake Fault.
Caution Regarding Forward-Looking Statements
Certain statements in this press release may constitute forward-looking information within the meaning of securities laws, including statements relating to the anticipated benefits of the completion of the transactions contemplated under the Asset Purchase Agreement, the Termination Agreement and the Option Agreement, including the payment of the Deferred Payment and the Termination Consideration. Forward-looking information may relate to Fokus' future outlook and anticipated events, business, operations, financial performance, financial condition or results, and include the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Transaction and the completion of the Transaction on expected terms, and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee"; "ensure" or other similar expressions concerning matters that are not historical facts. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which Fokus believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to Fokus, they may prove to be incorrect. It is impossible for Fokus to predict with certainty the impact that the current economic uncertainties may have on future results. Forward-looking information is also subject to certain factors, including risks and uncertainties (including those described under "Financial risk management objectives and policies" and "Risk and Uncertainties" in the Company's Annual Report for the fiscal year ended December 31, 2024, a copy of which is available on SEDAR+ at www.sedarplus.ca) that could cause actual results to differ materially from what Fokus currently expects. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including if the acquisition of properties will provide strategic benefits for the Company's shareholders, when such benefits will occur or what will be the actual benefits the Company will derive from the properties. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, the Company is under no obligation and does not undertake to update or alter this information at any particular time, except as may be required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Fokus Mining Corporation
For Further Information: Fokus Mining Corporation, Philippe MacKay, P. Eng., MBA, President & CEO, Tel.: (514) 974-4349, Email: [email protected]
