- Establishes USCM in Arizona, one of the leading copper-producing states in the United States
- Provides strategic positioning to growing copper demand driven by AI infrastructure, data centers, grid modernization, and electrification
- Acquires a 146-claim (~1,200-hectare) land package within a leading copper district, alongside the Resolution, Miami, San Manuel/Kalamazoo, and Copper Creek deposits
- Historical drilling comprises 105 holes totaling 10,603 meters, including results of 124.97 meters grading 0.36% Cu from 21.32 meters and 80.77 meters grading 0.52% Cu from surface
- Historical analytical work focused almost exclusively on copper, presenting potential upside to evaluate additional critical and precious metals, including tungsten, molybdenum, silver, gold, and zinc
- Multiple historical copper oxide and skarn occurrences indicate potential for a larger mineralized system, including the potential for a causative porphyry intrusion
- Modern exploration techniques - including drone-based geophysics, detailed geological mapping, and geochemical surveys - will be applied to advance historical exploration and generate new targets
Vancouver, British Columbia--(Newsfile Corp. - July 13, 2026) - US Critical Metals Corp. (CSE: USCM) (OTCQB: USCMF) (FSE: 0IU) ("USCM" or the "Company") is pleased to announce that it has entered into a Share Purchase Agreement dated July 10, 2026 (the "SPA") to acquire (the "Acquisition") 100% of the issued and outstanding common shares of 1582577 B.C. Ltd. (the "Target"), which holds: (i) through its wholly-owned subsidiary, Bullock Canyon Project (US) LLC (the "Subsidiary"), one hundred and forty-four (144) unpatented lode mining claims located in Pima County, Arizona (the "Directly Held Claims"); and (ii) through the Option Agreement (as hereinafter defined) the option and right to purchase two additional unpatented lode mining claims located in Pima County, Arizona (the "Option Claims" and together with the Directly Held Claims, the "Property" or the "Korn Kob Property"). This Acquisition provides USCM with a strategic entry into Arizona, one of the leading copper-producing states in the United States (the "U.S."), and positions the Company within a well-established copper district in proximity to large deposits, including Resolution, Miami, San Manuel/Kalamazoo, and Copper Creek. Copper is listed as a critical mineral by the U.S. Geological Survey and essential to the economy and national interest.1, 2
USCM has entered into the SPA to acquire 100% of the Target in consideration of issuance of 15,025,000 common shares of USCM to the shareholders of the Target on a pro-rata basis (see below under "Transaction Highlights" for more information). In addition to the Directly Held Claims, the Target holds an exclusive two-year option to acquire a 100% interest in the Option Claims under the Option Agreement (as hereinafter defined), for total consideration of USD$1.0 million (USD$500,000 cash and USD$500,000 in shares), with staged payments credited toward the purchase price.
Management Commentary
Mr. Darren Collins, CEO and Director of USCM, comments: "The acquisition of Korn Kob marks a significant step in building USCM's portfolio of critical mineral assets in North America. Arizona is one of the world's premier copper jurisdictions, and the Property provides us with exposure to a historical copper discovery that remains open for expansion, while also offering compelling upside through the potential discovery of the underlying porphyry system that may have driven the mineralization. Our immediate focus will be on applying modern exploration techniques to unlock the property's full potential."
Property Overview
The Property consists of the 146 unpatented lode mining claims, which cover approximately 12 square kilometers (1,200 hectares). The Property is located approximately 35 kilometers south of the historic San Manuel/Kalamazoo mine, which produced over 4.2 million tonnes (9.2 billion pounds) of copper from 1955 to 1999 and about 40 kilometers south of Faraday Copper's Copper Creek project, which hosts NI 43-101 compliant measured and indicated mineral resources of 421.9 Mt at 0.45% Cu (Figure 1).3, 4, 5, 6 References to mineralization at nearby properties are provided for regional context only and are not necessarily indicative of the mineralization or exploration potential of the Property. The Qualified Person has been unable to verify the information relating to other deposits in proximity to the Property and information and mineralization relating to other deposits in proximity to the Property is not necessarily indicative to mineralization of the Property.
Figure 1 - Korn Kob Project Location Map
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The Property contains historical near-surface copper oxide mineralization in the northern area, including the Korn Kob skarn, where copper occurs mainly as chrysocolla and copper-bearing iron oxides in fractured limestone and marble. Skarn-style copper mineralization is sometimes associated with nearby intrusive rocks, and the known mineralization remains open for potential expansion7, 8. The presence of Laramide-age granodiorite nearby suggests the possibility of an intrusive source that may have driven the copper system9, 10 (Figure 2). Near-surface copper oxides may have different processing characteristics compared with deeper sulphide mineralization, although no metallurgical testing has been completed on the Property to confirm this.
Figure 2: Korn Kob Property Geology Map
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Historical Drilling and Exploration Potential
Between 1961 and 1990, several companies completed drill programs to define zones of copper mineralization at Korn Kob. In total, 105 drillholes were completed for 10,603 meters. Notable results include 124.97 meters grading 0.36% Cu in drillhole KKB-9 and 80.77 meters grading 0.52% Cu in drillhole KKB-4. The historical drilling suggests that mineralization remains open in all directions, including along strike and at depth, providing potential to expand the known mineralized zones through systematic follow-up exploration, including step-out drilling, geological mapping, geophysical surveys, and targeted sampling designed to test extensions of the copper system beyond the limits of previous drilling. Historical drill core from this program was assayed only for total copper; other elements were not systematically analyzed. The coincident Leatherwood Granodiorite intrusions suggest potential for a deeper porphyry copper system beneath the historical skarn workings, which remains untested by historical drilling.
Table 1: Summary Highlights of Selected Historical Assay Results from Korn Kob
Note: Reported intervals are drillhole lengths. True widths are not known.
| Drillhole | From (m) | To (m) | Length (m) | Cu % |
| GG-44 | 0.00 | 67.06 | 67.06 | 0.41 |
| KKB-1 | 0.00 | 79.25 | 79.25 | 0.38 |
| KKB-3 | 0.00 | 51.82 | 51.82 | 0.34 |
| KK-4A | 1.52 | 91.44 | 89.92 | 0.35 |
| KKB-4 | 0.00 | 80.77 | 80.77 | 0.52 |
| KK-5 | 50.29 | 100.58 | 50.29 | 0.46 |
| KKB-5 | 0.00 | 114.30 | 114.30 | 0.40 |
| KKB-9 | 21.34 | 146.30 | 124.97 | 0.36 |
| KK-14 | 0.00 | 77.72 | 77.72 | 0.50 |
| KKB-18 | 0.00 | 54.86 | 54.86 | 0.62 |
| KKB-19 | 0.00 | 64.01 | 64.01 | 0.36 |
| KK-21 | 27.43 | 146.30 | 118.87 | 0.27 |
| KKB-23 | 59.44 | 161.54 | 102.11 | 0.43 |
| KKB-30 | 0.00 | 85.34 | 85.34 | 0.39 |
| KKB-59 | 0.00 | 44.20 | 44.20 | 0.24 |
Figure 3: Korn Kob Property Historical Drillholes Map
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Sampling methodology and quality assurance/quality control protocols applied to this historical drilling program are not known to the Company. The qualified person has not done sufficient work to classify the historical drill results as current mineral resources or mineral reserves, and the Company is not treating the historical drill results as such. The historical results should not be relied upon as indicative of the presence of mineral resources or mineral reserves on the Property. A qualified person has not verified the data, and there is a risk that subsequent exploration will not confirm the historical results.
Transaction Highlights
The Company will acquire 100% of the Target by issuing 15,025,000 common shares of USCM (the "Consideration Shares") to the shareholders of the Target on a pro-rata basis, at a price of $0.12, being equal to the market price of the common shares of the Company on the Canadian Securities Exchange (the "CSE") on the last business day prior to the date of execution of the SPA. Pursuant to the SPA, USCM will acquire the Target (and through it, the Subsidiary as well as all rights under the Option Agreement), thereby acquiring the Property. The SPA contains customary representations, warranties, covenants, and indemnification provisions.
The Acquisition is at arm's length. Closing of the SPA is subject to acceptance by the CSE and customary closing conditions, with an outside date of October 22, 2026.
The Target is party to the Option Agreement dated April 7, 2026 between the Target and owners of the Option Claims (the "Option Agreement"), pursuant to which the owners have granted the Target an exclusive lease over the Option Claims and the option and right to purchase such claims. The term of the Option Agreement is two years from the effective date of April 7, 2026 (the "Effective Date"). The total purchase price for the Option Claims is US$500,000 in cash and US$500,000 in shares (for a total of US$1,000,000) (the "Purchase Price"). The Target is required to make the following minimum payments (the "Payments") to the owners, which will be credited against the Purchase Price:
- USD$50,000 in cash within 30 days of the Effective Date (paid by the Target);
- USD$200,000 in cash and common shares of the Target having a value of USD$250,000 on the first anniversary of the Effective Date; and
- USD$250,000 in cash and common shares of the Target having a value of USD$250,000 on the second anniversary of the Effective Date.
Each of the Payments shall be credited against the Purchase Price if the Target elects to exercise the option. The Option Claims contain the historical drilling results.
Qualified Person
The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein, M.Sc., P.Geo., an independent consulting geologist for the Company and a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Bein has not independently verified the historical exploration data disclosed in this news release.
Sources
(1) S&P Global. (2026, January). Copper in the age of AI: The challenges of electrification. https://www.spglobal.com/en/research-insights/special-reports/copper-in-the-age-of-ai
(2) U.S. Geological Survey. (2025, November 7). Final 2025 list of critical minerals. Federal Register, 90 FR 50494. https://www.federalregister.gov/documents/2025/11/07/2025-19813/final-2025-list-of-critical-minerals
(3) Briggs, D.F. (2014). History of the San Manuel-Kalamazoo Mine, Pinal County, Arizona. Arizona Geological Survey Contributed Report, CR-14-A.
(4) Faraday Copper Corp. (2026, July 2). Faraday Copper signs a definitive agreement to acquire BHP's San Manuel property in Arizona, creating a multi-asset copper district in the USA [Press release]. https://www.accessnewswire.com/newsroom/en/metals-and-mining/faraday-copper-signs-a-definitive-agreement-to-acquire-bhps-san-manuel-property-i-1184913
(5) Faraday Copper Corp. (2023, May 3). Faraday Copper announces PEA for Copper Creek with NPV US$713M and 4.2 billion pounds of measured and indicated copper mineral resources [Press release]. https://faradaycopper.com/news-releases/faraday-copper-announces-pea-for-copper-creek-with-5420/
(6) Patterson, E. L., Mehrfert, P., Elfen, S. C., Weston, S., Tracy, B., McCarthy, B., Jakubec, J., & Pratt, R. W. (2023). Copper Creek Project NI 43-101 technical report and preliminary economic assessment (effective date May 3, 2023). Faraday Copper Corp. Filed on SEDAR+, June 13, 2023. https://minedocs.com/24/Copper_Creek_PEA_05032023.pdf
(7) Force, E.R.(1997). Geology and mineral resources of the Santa Catalina Mountains, southeastern Arizona: a cross-sectional approach. University of Arizona Center for Mineral Resources Monograph in Mineral Resource Science
(8) Mars, C.M., Robinson, G.R., Hammarstrom, J.M., Zucher, L., Whitney, H. (2019). Porphyry copper potential of the United States Southern Basin and Range using Satellite ASTER data integrated with geochemical and geologic datasets to assess potential near-surface deposits in well-explored permissive tracts. Economic Geology. v. 114. No. 6. pp. 1195-1121.
(9) Bykerk-Kauffman, A. (2008). Geologic map of the southeastern Santa Catalina Mountains, Pima County, Arizona, 1:24,000 scale. Arizona Geological Survey Contributed Map 08-A, 2 sheets.
(10) Heinricks Geoexploration Co. (1970). Korn Kob Project. Composite map prepared for Essex International Inc.
About US Critical Metals Corp.
USCM is focused on mining projects that will further secure the U.S. supply of critical metals, which are essential to fueling the new age economy. The Company's assets consist of four discovery focused projects (the "Projects") in the U.S. These projects include the McDermitt East Lithium Project located in Nevada, Clayton Ridge Lithium Property located in Nevada, Long Canyon Uranium Property located in Idaho, and the Haynes Cobalt Property located in Idaho. A significant percentage of the world's critical metal and rare earth supply comes from nations with interests that are contrary to those of the U.S. US Critical Metals intends to explore and develop assets with near- and long-term strategic value to the advancement of U.S. interests.
For further information, please contact:
Darren Collins
Chief Executive Officer & Director
Telephone: +1 (786) 503 0715
Email: dcollins@uscmcorp.com
Neither the Canadian Securities Exchange nor the 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.
Disclaimer for Forward-Looking Information
This news release contains certain statements that may be deemed "forward-looking information" with respect to USCM within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking information contained in this press release may include, without limitation, the expected closing of the SPA and satisfaction of all related conditions and obtaining all required approvals including regulatory approvals; the expected exercise of the Option Agreement, the potential presence or grade of copper or other metals on the Property, the potential for additional mineralization or the existence of a porphyry copper system at depth, the potential for expansion of known mineralized zones, the application of modern exploration techniques and the expected results thereof, the potential processing characteristics of near-surface copper oxides, the Company's future exploration plans and objectives, statements regarding the strategic value of the Property or the Company's positioning relative to copper demand; and the expected benefits of the Property; the expected financial performance of the Company. Although USCM believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that USCM maintains good relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; USCM's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of USCM to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with USCM's expectation; as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to USCM, including as set forth in the Company's public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.
The forward-looking information contained in this press release represents the expectations of USCM as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While USCM may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304889
Source: US Critical Metals Corp.
