Midasco Capital Corp. Completes Acquisition Of Tungsten And Critical Metals Project From Ridgeline Minerals

(MENAFN- Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - July 31, 2025) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (" Ridgeline ") and Midasco Capital Corp. (" Midasco ") (TSXV: MGC-H) are pleased to announce that they have completed the previously announced arm's length sale and purchase of Spartan Exploration Nevada Corporation (" Spartan ") in accordance with the terms of a share purchase agreement dated June 2, 2025 (the " Agreement "). On closing, Midasco acquired 100% of the issued and outstanding shares of Spartan, an entity which holds 244 lode mineral claims located in White Pine County, Nevada which are referred to as the Eagle Property (the " Property ") (Figure 1).

The Eagle Property is a tungsten-copper porphyry and skarn system which hosts one of the highest-grade past producing tungsten districts in the United States with the Tungstonia and Rees mine operations producing a reported 8,352 tonnes of tungsten trioxide at average grades of 0.6-1.0% between 1917-1956¹. The Property also exhibits significant concentrations of rubidium, copper, silver, antimony as well as lesser lead and zinc, which is interpreted as part of the larger metal zonation pattern of the porphyry system across the district.

In accordance with the terms of the Agreement on closing, Midasco issued Ridgeline 5,830,466 of its common shares (the " Midasco Shares ") representing 19.9% of Midasco's total issued and outstanding shares. In addition, on the one-year anniversary of the closing date, Midasco will issue Ridgeline additional Midasco Shares equal to the lesser of: (i) 5,000,000; and (ii) such number of Midasco Shares as would result in Ridgeline's holding 19.9% of Midasco's total issued and outstanding shares.

Ridgeline has also been granted a 1% net smelter return royalty on the Property as well as on any additional ground staked within a 2-mile area of interest around the Property.

In connection with the transaction, Midasco had its listing reactivated by the TSX Venture Exchange (the " Exchange ") and is now a Tier 2 mining issuer.

In addition, Midasco announces that it has changed its name to "Spartan Metals Corp." It is anticipated that the Midasco Shares will begin trading on the Exchange under its new name and ticker symbol "W" on or about August 5, 2025. The ISIN/CUSIP for Spartan Metals Corp. is: CA8468111072/846811107.

The Midasco Shares issued to Ridgeline are subject to a four-month hold period in accordance with applicable securities laws. In addition, the Midasco Shares are subject to a contractual restriction on transfer for a period of 12 months ending August 31, 2026 with 1/12th of the securities being released to Ridgeline on each one-month anniversary of the closing date, subject to acceleration at the sole discretion of the Midasco.

Early Warning
Upon closing of the acquisition, Ridgeline acquired an aggregate of 5,830,466 Midasco Shares, representing approximately 19.9% of the issued and outstanding Midasco Shares on a non-diluted basis. Immediately prior to the completion of the acquisition, Ridgeline did not have ownership of, or exercise control and direction over, any Midasco Shares. The consideration paid by Ridgeline for the Midasco Shares consisted of all of the issued and outstanding common shares in the capital of Spartan. Ridgeline is acquiring the Midasco Shares for investment purposes. Ridgeline may, from time to time, take such actions in respect of its holdings in securities of Midasco as they may deem appropriate in light of the circumstances then existing, including the purchase of additional Midasco Shares or other securities of Midasco or the disposition of all or a portion of its security holdings in Midasco, subject in each case to applicable securities laws and the terms of such securities.

Pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, following the closing of the private placement, Ridgeline will file an early warning report in respect of the acquisition of Midasco Shares with the applicable Canadian securities regulators, copies of which will be available under Midasco's profile at Following closing of the acquisition, a copy of the early warning report relating to the acquisition of Midasco Shares can be obtained by contacting Chad Peters, CEO of Ridgeline, at Suite 1650 - 1066 West Hastings Street, Vancouver, British Columbia V6E 3X1. Midasco's head office is located at 228 - 1122 Mainland St., Vancouver, British Columbia, V6B 5L1.

Figure 1: Map showing the location of the Rees and Tungstonia claim blocks, which collectively form the Eagle Project, located in White Pine County, Nevada.

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