Storm Enters Agreement to Sell Miminiska Project

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

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

For further information, please contact:

Landore Resources Limited Alexander Shaw (CEO) Engage with the company directly	[e-mail] Landore Resources Investor Hub
Strand Hanson Limited (Nominated Adviser and Joint Broker) James Dance / Matthew Chandler	Tel: [phone]
Hannam & Partners (Joint Broker) Andrew Chubb / Matt Hasson	Tel: [phone]
AlbR Capital Limited (Joint Broker) Colin Rowbury	[e-mail] Tel: [phone]
Burson Buchanan (Financial PR) Bobby Morse/ Oonagh Reidy	[e-mail] Tel: [phone]

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 -

 

END