REG - Landore Resources Ld - Storm Enters Agreement to Sell Miminiska Project

Landore ResourcesAnnouncement

03/12/2025 07:00

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RNS Number : 9727J  Landore Resources Limited  03 December 2025

3 December 2025

LANDORE RESOURCES LIMITED

Storm Enters Agreement to Sell Miminiska Project

 

London, United Kingdom - 3 December 2025 - Landore Resources Limited (AIM:
LND) ("Landore Resources" or the "Company") notes the announcement made by
Storm Exploration Inc. (TSX-V: STRM) ("Storm") on 1 December 2025, that it has
entered into a mineral property purchase agreement  ("Definitive Agreement")
with European Electric Metals Inc. (TSXV: EVX) ("European Electric"),
pursuant to which Storm will sell, subject to the satisfaction of certain
conditions, its interest in the Miminiska Project, located in northwestern
Ontario, that Storm will acquire by exercising its option to acquire the
Mininiska Project pursuant to an existing option agreement dated May 5, 2021,
as amended (the "Option Agreement") between Storm and Landore Resources Canada
Inc. (collectively, the "Transaction").

The total consideration to be paid by European Electric includes cash and
share payments equal to an aggregate of C$5,812,500, subject to the
satisfaction of certain conditions, of which Landore Resources Canada Inc.
("Landore") will receive payment of C$1,312,000 in cash from Storm upon
closing of the Definitive Agreement, in satisfaction of Storm's remaining
option payment under the Option Agreement.

Landore continues to hold 3,268,234 common shares in Storm, representing a
15.8% interest in the company.

Further information on the Transaction, as announced by Storm, can be found
here: https://money.tmx.com/en/quote/STRM/news
(https://money.tmx.com/en/quote/STRM/news)

Landore Resources' CEO, Alexander Shaw, commented:

"The sale of Miminiska Project to European Electric Metals, a Canadian
exploration company for $5.8 million, is testament to the high quality of our
asset portfolio of 52 patented mineral claims across 5,494 hectares.  The
expected cash payment of over C$1.3 million, following our recent
oversubscribed placing, will provide Landore with a strong platform going into
2026."

 

Engage with us by asking questions, watching video summaries and seeing what
other shareholders have to say on our Interactive Investor hub here: Landore
Resources Investor Hub (https://investors.landore.com/link/XyM8bP)

 

For further information, please contact:

 

 Landore Resources Limited

 Alexander Shaw (CEO)                                        contact@landore.com

 Engage with the company directly                            Landore Resources Investor Hub (https://investors.landore.com/link/XyM8bP)
 Strand Hanson Limited (Nominated Adviser and Joint Broker)

 James Dance / Matthew Chandler                              Tel: 020 7409 3494
 Hannam & Partners (Joint Broker)

 Andrew Chubb / Matt Hasson                                  Tel: 020 7907 8500
 AlbR Capital Limited (Joint Broker)                         cr@albrcapital.com (mailto:cr@albrcapital.com)

 Colin Rowbury                                               Tel: 020 7469 0930

 Burson Buchanan (Financial PR)

 Bobby Morse/ Oonagh Reidy                                   landore@buchanancomms.co.uk

                                                             Tel: 020 7466 5000

 

Subscribe to our news alert service: https://investors.landore.com/auth/signup

 

About Landore Resources

Landore Resources (AIM: LND) is the 100% owner of the highly prospective BAM
Gold Project, Northwestern Ontario, Canada, which has an NI 43-101 compliant
resource estimate of 1.5m oz Au (Indicated: 1.03m oz from 30.96Mt @ 1.0g/t;
Inferred: 467,000oz from 18.3M/t @ 0.8g/t). Ontario is Canada's largest gold
producing province, and produced 3.9m oz, accounting for 41% of Canada's total
gold production in 2023. Landore Resource's strategic objective is to
crystallise value from BAM's last estimated NPV of US$333.6m @ US$1,800/oz
spot (from May 2022 PEA), as well as generating additional value from its
non-core portfolio of precious and battery metals projects in eastern Canada
and the USA.

 

 

- ENDS -

 

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