Metal Energy Updates On Highland Valley Exploration Program

2025-10-08 06:07:24

(MENAFN- Newsfile Corp) Highlights:

Infill and reconnaissance geophysical surveys planned at Highland Valley.
Metal Energy to leverage historical IP surveys to cost effectively focus and rank exploration targets.
9-month extension to all Highland Valley acquisition milestone payments.

Toronto, Ontario--(Newsfile Corp. - October 8, 2025) - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) (the " Company " or " Metal Energy ") is pleased to provide an update on its exploration plans at its Highland Valley Project (" Highland Valley " or the " Project ").

Geophysical Exploration

Target Refinement in the eastern part of Highland Valley:

Detailed drone aeromagnetic surveys are planned to infill key areas, including Mystery target.
Inversion and compilation of results from historical IP surveys to focus and rank exploration targets.

Reconnaissance ground AMT transects across the western part of Highland Valley, which is relatively underexplored.

Geophysical Surveys to Refine Targets in Eastern area

The geophysical signature of the known Zone 1 and Zone 2 deposits is relatively subtle, with low chargeability and subtle magnetic features resulting from copper-rich sulfide mineralogy common to many deposits in the Highland Valley district. As a result, the Company believes that thorough and high-quality geophysical coverage is important for refining drill targets.

Planned next steps include detailed drone aeromagnetic surveys that will expand on and infill high quality airborne magnetic surveys completed in 2012 and 2021, which covered most of Highland Valley Project. The infill survey will focus on the Mystery target, which was acquired in 2022.

In addition, ongoing digitization, inversion and compilation of historical IP survey data from multiple surveys covering key target areas will help compare chargeability anomalies and prioritize them for drill testing.

Reconnaissance West Valley AMT surveys

Ground AMT surveys completed by Metal Energy in the eastern part of the project defined potential structures known to concentrate mineralization in porphyry copper systems (see Metal Energy News Release dated February 26, 2025 ). Planned reconnaissance surveys in the less-explored western part of the project are designed to delineate similar structures.

Figure 1: Location of Planned Geophysical Surveys at Highland Valley

Permitting

The Company continues to work within the required consultation processes and guidelines to obtain drill permits. The ongoing strike by the B.C. General Employees' Union may affect turnaround timelines.

Initial Exploration Targets - Eastern Highland Valley

Billy Lake : A large AMT resistive zone aligns with a strong Cu-in-soil anomaly. Bounded by faults, it is interpreted as an uplifted fault block bringing younger intrusive rocks close to surface.

Zone 2 : Mineralization occurs in a conductive zone adjacent to an AMT resistor, open to the southwest and north. It lies within a large fault wedge, possibly down-dropped relative to surrounding rocks.

Zone 1 : A north-south trending resistive zone with fault offsets and potential for parallel mineralized zones, based on geophysical and historical drilling data.

Mystery : Similar geology and geophysics to Zone 1, with historical drill holes intersecting copper mineralization.

Chataway : A covered area beneath glacial overburden with strong geophysical characteristics. Limited historical drilling near its margins has intercepted copper.

LeRoy Lake : An unexplored area northeast of Zone 1, Zone 2, and Billy Lake, with promising geophysical signatures but no drilling or significant historical exploration.

Sho : Stock-like AMT resistivity features near narrow, high-grade copper intersections in historical drill holes.

Extension to Highland Valley Milestone Payments

The Company is also pleased to announce that it has entered into an amending agreement dated August 27, 2025 ("Amending Agreement") with respect to its original asset purchase agreement dated October 2, 2024, and an initial amending agreement dated October 3, 2024 with Happy Creek Minerals Inc. (" Happy Creek ") (TSXV: HPY) to acquire the 100%-owned Highland Valley Copper Project. The Amending Agreement extends all milestone payments by nine months. In consideration for entering into the Amending Agreement, Metal Energy will issue 1,000,000 Common Shares at the market price to Happy Creek and pay $25,000 cash within five days of the Company's next financing.

Updated Milestones of the Amending Agreement

The issuance of Metal Energy Shares to Happy Creek with a value of $1,000,000 on or before August 6, 2026 ("Tranche One Consideration Shares").

The issuance of Metal Energy Shares to Happy Creek with a value of $1,000,000 on or before August 6, 2027 ("Tranche One Consideration Shares").

The issuance of Metal Energy Shares to Happy Creek with a value of $1,500,000 on or before August 6, 2028 ("Tranche One Consideration Shares").

The issuance of Metal Energy Shares to Happy Creek with a value of $2,500,000 on or before August 6, 2029 ("Tranche One Consideration Shares").

(the Tranche One Consideration Shares, Tranche Two Consideration Shares, Tranche Three Consideration Shares, and Tranche Four Consideration Shares are collectively the "Additional consideration Shares").

Terms of the initial acquisition can be found in Metal Energy's October 4, 2024 news release , announcing the acquisition of the Highland valley Copper Project.

The Amending Agreement is subject to approval from the TSXV and is expected to close in the near term, following TSXV approval.

About Metal Energy
Metal Energy is a critical metals exploration company with two high-potential projects in politically stable, Canadian jurisdictions: Manibridge (Ni-Cu-Co-PGE) in Manitoba and its recently acquired Highland Valley Project (Cu-Mo-Ag-Au-Re) in British Columbia. Metal Energy's projects are 100% owned.

QP Statement
The technical information contained in this news release has been reviewed and approved by Roy Greig, Ph.D., P.Geo., an independent and Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

MENAFN08102025004218003983ID1110166448

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.