Nord Precious closes acquisition of Gowganda claims

Apr 2, 2026

2026-04-01 21:39 ET – News Release

Mr. Frank Basa reports

NORD PRECIOUS METALS ANNOUNCES CLOSING OF STRATEGIC ACQUISITION OF GOWGANDA SILVER CAMP CLAIMS FROM BATTERY MINERAL RESOURCES CORP.

On March 31, 2026, Nord Precious Metals Mining Inc. completed its previously announced acquisition of four mining leases in the Gowganda silver camp of Ontario. The acquisition was completed pursuant to an amended and restated asset purchase agreement dated March 31, 2026, among the company, Battery Mineral Resources Corp. and North American Cobalt Inc. (NACI) amending the terms of its previously announced asset purchase agreement dated Jan. 5, 2025.

Transaction summary

In accordance with the definitive agreement, Nord has acquired four mining leases (LEA-109391 to LEA109394) comprising the Gowganda property from NACI, Battery Mineral Resources’ wholly owned subsidiary, for the following consideration:

$1-million cash on the closing date;
The issuance to Battery Mineral Resources, on behalf of NACI, on the closing date of 4,401,408 common shares in the capital of Nord at a deemed price equal to 28.4 cents per share;
A 3.0-per-cent net smelter returns royalty on the Gowganda property;
Deferred consideration of $1.25-million on each of the first, second and third anniversaries of the closing date of the transaction ( for aggregate deferred consideration of $3.75-million.

At Nord’s election, up to 50 per cent of each deferred consideration payment may be satisfied in Nord shares at a deemed price per share equal to the greater of: (i) the 25-day volume-weighted average trading price per Nord common share on the TSX Venture Exchange ending on the last trading day preceding the applicable payment date; and (ii) the minimum price permitted by the TSX-V; provided however that the aggregate number of Nord shares that may be issued in satisfaction of the deferred consideration shall not exceed 10,938,610 purchaser shares. In the event the maximum share limit is reached, any remaining balance of the deferred purchase price must be satisfied entirely in cash. The Nord shares issued in satisfaction of the deferred consideration will be subject to a statutory hold period of four months and one day from the date of issuance.

Completion of the transaction remains subject to receipt of the final approval of the TSX-V.

Qualified person

The technical information in this news release was approved and prepared under the supervision of Frank J. Basa, PEng (PEO), director of Nord Precious Metals, a qualified person in accordance with National Instrument 43-101.

About Nord Precious Metals Mining Inc.

Nord operates TTL Laboratories, the only permitted high-grade milling facility in the historic Cobalt camp of Ontario, where the company has established an integrated position connecting high-grade silver discovery with strategic metals recovery operations.

The company’s flagship Castle property encompasses 63 square kilometres of exploration ground and the past-producing Castle mine, complemented by the Castle East discovery, where drilling has delineated 7.56 million ounces of silver in inferred resources grading an average of 8,582 grams per tonne silver (250.2 ounces per ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson zone, beginning at a vertical depth of approximately 400 metres. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to the Nord’s press release of May 27, 2020, for the resource estimate. The above resource is now considered an historical resource. Insufficient work has been done to categorize the above historical estimate as current.

Significant additional diamond drilling and analytical work, along with modelling, are required before a new resource estimate can be compiled.

Nord’s integrated processing strategy enables multiple metal recovery streams. High-grade silver recovery supports the economics of extracting critical minerals including cobalt, nickel and other battery metals. The Re-2Ox hydrometallurgical process, validated at pilot scale through SGS Lakefield, eliminates the typical arsenic barriers in complex silver-cobalt ores while producing battery-grade cobalt sulphate and other metal products to customer specifications. This multimetal approach, combined with established infrastructure including TTL Laboratories and underground mine access, positions Nord within Ontario’s emerging critical minerals supply chain.

The company maintains a strategic portfolio of battery metals properties in Northern Quebec through its 35-per-cent ownership in Coniagas Battery Metals Inc. as well as the St. Denis-Sangster lithium project comprising 32 square kilometres of prospective ground near Cochrane, Ont.

We seek Safe Harbor.

https://www.nordpreciousmetals.com/