Vancouver, British Columbia--(Newsfile Corp. - November 5, 2026) - Catalyst One Exploration Corp. (TSXV: CATX) (OTC Pink: CTXCF) (the "Company") is pleased to announce that it has entered into a property purchase agreement dated November 4, 2026 (the "Purchase Agreement") with LIRECA Resources Inc. (the "Vendor"), pursuant to which the Company has agreed to acquire an undivided 100% legal and beneficial interest in the BC REE Property, a rare earth element ("REE") exploration property located approximately 85 kilometres northeast of Prince George, British Columbia (the "Property"), for aggregate cash and share consideration of $870,000, together with the grant of a 3% net smelter returns royalty, as described below (the "Transaction"). The Vendor is at arm's length to the Company.
"We are excited to add the BC REE property to our portfolio. The global market for rare earth elements is undergoing a massive, structural transformation, evolving from a clean-energy and electric vehicle story into the bedrock of physical AI, robotics, and advanced technology infrastructure," Catalyst One CEO Michael Ruggles commented.
The Property
The Property consists of eight contiguous mineral claims covering 6,164 hectares, centred approximately 35 kilometres east of the community of Bear Lake and 85 kilometres northeast of Prince George, British Columbia. The Property is accessed from Highway 97 through Bear Lake and a network of forest service roads, and is located in close proximity to hydroelectric power lines and railway lines. The southern boundary of the claims lies approximately 1,200 metres north of Defense Metals Corp.'s proposed Wicheeda open pit mine (NI 43-101 Technical Report, Wicheeda Rare Earths Project PFS, dated April 4, 2025).
Figure 1 - BC REE Property and Defense Metals Corp.'s Wicheeda Rare Earths Project
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The Property is being explored for REE and niobium mineralization. The area is underlain by upper Cambrian to lower Ordovician sedimentary rocks of the Kechika Group, comprising siltstone, limestone, marble, argillite and calcareous rocks, which are intruded by the Wicheeda intrusive suite. This is the same suite of rocks that host the Wicheeda deposit. The strata strike between 120° and 140° and dip steeply to the northeast and southwest.
2025 Exploration Program
An exploration program was completed on the Property in June and September 2025, consisting of a detailed heliborne magnetic and radiometric survey and soil and rock sampling. The survey identified a number of geophysical targets that may represent carbonatite intrusions. Due to limited access and time constraints, two of these targets, together with an exposed road cut, were followed up with geochemical sampling.
A total of 36 soil samples were collected. Soil sample W25T020, collected from geophysical target T1, returned the highest values of the program, with 0.869% total rare earth oxides ("TREO") and 478 ppm niobium. Two rock samples collected from the road cut returned background values. The results of the program are documented in an assessment report dated March 5, 2026.
Recommended follow-up work includes resampling the W25T020 site to confirm reproducibility, investigating rock fragments in the overburden, hand trenching to expose bedrock at this location, and soil sampling of additional geophysical targets.
Readers are cautioned that soil geochemical results are not necessarily representative of mineralization in the underlying bedrock, and that mineralization on adjacent or nearby properties, including the Wicheeda REE deposit, is not indicative of mineralization on the Property.
Terms of the Transaction
Purchase Agreement
Pursuant to the Purchase Agreement, the Company will acquire the Property from the Vendor for consideration comprised of:
(1) an aggregate of 3,800,000 common shares of the Company (the "Consideration Shares") at a deemed price of $0.15 per Consideration Share, to be issued to the Vendor on the closing date of the Transaction (the "Closing Date");
(2) an aggregate of $300,000 in cash (the "Consideration Cash"); and
(3) a net smelter returns royalty to be granted by the Company in respect of the Property, as described below.
The Consideration Shares will be subject to a statutory hold period of four months and one day from the Closing Date in accordance with applicable securities laws.
Net Smelter Returns Royalty
Pursuant to the Purchase Agreement, the Company will grant to 1079170 B.C. Ltd., an affiliate of the Vendor (the "Royalty Holder"), a 3% net smelter returns royalty on the Property (the "Royalty") pursuant to a net smelter returns royalty agreement to be entered into between the Company and the Royalty Holder on closing of the Transaction (the "Royalty Agreement"). Under the Royalty Agreement, the Company may reduce the Royalty from 3% to 1%, in 1% increments, by paying the Royalty Holder US$1,000,000 for each 1% reduction.
No Finder's Fee
No finder's fee is payable in connection with the Transaction.
TSXV Approval
The Transaction does not constitute a change of control of the Company or a "Reverse Takeover" under the policies of the TSX Venture Exchange (the "TSXV"). However, upon completion of the Transaction, the Vendor is expected to hold approximately 15.3% of the issued and outstanding common shares of the Company and will become an "Insider" of the Company under TSXV policies. Accordingly, the Transaction constitutes a "Reviewable Transaction" under TSXV Policy 5.3 - Acquisitions and Dispositions of Non-Cash Assets and is subject to acceptance by the TSXV.
Conditions to Closing
The closing of the Transaction is subject to the acceptance of the TSXV and the satisfaction or waiver of other customary closing conditions.
Technical Information
The technical information in this news release has been prepared under the supervision of, and reviewed and approved by, Chris M. Healey, P.Geo. a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Chris Healey is independent of the Company for the purposes of NI 43-101.
About Catalyst One Exploration Corp.
Catalyst One Exploration Corp. is a Canadian-based exploration-stage company engaged in the acquisition and exploration of mineral properties in the United States, primarily in the prolific Walker Lane mineral belt in Nevada. The Company owns a 100% undivided interest in the Palmetto Gold Project, which consists of 116 unpatented mining claims totaling 2,217 acres located in Esmeralda County, Nevada. The Palmetto Gold Project hosts a mineral resource estimate disclosed in accordance with NI 43-101 in a technical report prepared by WSP Canada Inc. with an effective date of October 15, 2020. The Palmetto Gold Project has been the subject of significant exploration by numerous companies to date, including Newmont Gold, Phelps Dodge Corp., Romarco Minerals and, most recently, ML Gold Corp. The initial "Discovery Hole" was drilled by Phelps Dodge in 1988, and Romarco Minerals subsequently drilled bonanza gold-silver veins between 1997 and 2002. For more information, visit https://catalystonex.com/.
About LIRECA Resources Inc.
LIRECA is part of the LIRECA Group, led by its principal John Fiorino, who has been in mineral exploration and project generation for over 20 years, with notable discoveries and project advancements.
The LIRECA Group is a mining project generator with a portfolio of projects across Canada. The LIRECA Group's mandate is to generate projects that have geological settings, potential historic data, geochemistry, geophysics and importantly an active mining camp ideally within 1-2 km of a discovery or active drilling.
FOR MORE INFORMATION PLEASE CONTACT:
Chris Hobbs, CFO & Director
Tel: 416.276.6689
Email: info@catalystonex.com
Website: https://catalystonex.com/
Neither the 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.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential" or "possible", or statements that certain events, conditions or results "will", "may", "could" or "should" occur or be achieved.
Forward-looking statements in this news release relate to, among other things: completion of the Transaction and the anticipated timing thereof; receipt of TSXV acceptance and satisfaction or waiver of the other conditions to closing; the Vendor's anticipated ownership of common shares of the Company following closing; the anticipated benefits of the Transaction; the potential of the Property; and the Company's exploration plans and budgets in respect of the Property.
These statements are based on assumptions that the Company considers reasonable in the circumstances, including, without limitation, that the parties will satisfy the conditions to closing and complete the Transaction on the terms and timing contemplated; the TSXV will issue its approval on acceptable terms; the Company will be able to maintain the mining claims comprising the Property in good standing and conduct its planned exploration activities; there will be no material adverse change affecting the Company or the Property; and general business and economic conditions, and metal prices, will remain consistent with the Company's expectations.
Forward-looking statements are subject to known and unknown risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, those associated with mineral exploration generally, results from anticipated and proposed exploration programs, conditions in the equity financing markets, and receipt of TSXV and other regulatory approvals. The Transaction may not be completed on the terms contemplated, within the expected timeline or at all. Exploration activities in British Columbia are subject to permitting and regulatory approvals, seasonal access constraints, engagement with local communities and Indigenous rights holders, and the availability of financing. Additional risk factors are described in the Company's continuous disclosure documents filed under its profile on SEDAR+ at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements, which are made as of the date of this news release. Other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
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