VANCOUVER, British Columbia, May 26, 2026 (GLOBE NEWSWIRE) -- Union Power Metals Corporation ("Union Power Metals" or the "Company") (CSE: UPPR, OTCQB: UPR, FRA: UPR) is pleased to announce that it has engaged SLR Consulting (Canada) Ltd. ("SLR"), a globally recognized mining advisory and technical consulting firm, to complete an initial Mineral Resource Estimate and prepare a National Instrument 43-101 Technical Report for the Company's Michalova Manganese Project in Slovakia. The Company has also elected to rely on Coordinated Blanket Order 51-933 - Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the "CBO 51-933") and move to semi-annual financial reporting ("SAR").
SLR is a leading global mining advisory practice with offices across Canada, the United States, Latin America, Europe, and Asia-Pacific. The firm provides expertise in geology, mineral resources, metallurgy, mining engineering, environmental and social studies, ESG, technical due diligence, and public disclosure reporting for mining companies globally.
The technical work will be led by Luke Evans, M.Sc., P.Eng., ing., Global Technical Director and Geology Group Leader at SLR. Mr. Evans has more than 40 years of international mining and consulting experience and has authored and supervised the preparation of numerous NI 43-101, JORC and S-K 1300 technical reports worldwide across a broad range of commodities, including manganese projects. His experience spans mineral resource estimation, due diligence reviews, geostatistical studies, and technical reporting for projects ranging from grassroots exploration to advanced mining operations.
CBO 51-933 allows eligible venture issuers listed on the Canadian Securities Exchange to voluntarily move from a quarterly to a semi-annual financial reporting framework. The Company's fiscal year ends on December 31. Under the SAR pilot program, the Company will be exempt from filing interim financial reports and related Management's Discussion & Analysis ("MD&A") for its first and third quarters.
- Interim Period: The Company will not file interim financial reports and related MD&A for the three months ended March 31, 2026 and the Company will not be required to file any interim financial reports and related MD&A for any subsequent quarters ended September 30 (Q3) or March 31 (Q1) in each financial year.
- Ongoing Reporting: The Company will continue to file audited financial statements and related MD&A (due within 120 days of December 31) and six-month interim financial reports and related MD&A (due within 60 days of June 30).
The Company confirms it meets the SAR pilot program's eligibility criteria, which include being a venture issuer with annual revenues of less than $10 million and maintaining a clean 12-month continuous disclosure record.
This news release is being filed pursuant to Coordinated Blanket Order 51-933 - Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.
About Union Power Metals Corporation
Union Power Metals Corporation is a mineral exploration company focused on advancing high-potential manganese projects in Slovakia, while maintaining exposure to uranium assets in Botswana. The Company is committed to responsible development and long-term value creation through the advancement of critical minerals essential to the global energy transition.
ON BEHALF OF THE BOARD OF DIRECTORS
Derrick Dao
Chief Executive Officer
Union Power Metals Corporation
For more information, please contact:
Derrick Dao
Chief Executive Officer
info@unionpowermetals.com
+1 825 558 3828
Carrie Howes
Investor Relations
carrie@unionpowermetals.com
+1 647 725 9639
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information:
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding the Company's adoption of SAR and reliance on CBO 51-933, and the Company's continued eligibility for, and participation in, SAR.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, the Company's continued eligibility for SAR.
Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation, the Company ceasing to meet the eligibility criteria for SAR.
Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
