Osiris One Metals Acquires Island Range Copper Gold Project

Osiris One Metals Ltd, a Vancouver-based company listed on the TSXV and FSE, has entered into a definitive agreement to acquire the Island Range Copper Gold Project, a significant mineral property on Vancouver Island, British Columbia. The project, covering an extensive 8,535 hectares, is located approximately 25 kilometers south of Port Alberni and has the potential to host a large-scale copper-gold porphyry system.

The Island Range Copper Gold Project is part of a broader geological setting that has historically produced valuable minerals. The Three Jays and Monitor mines, which are contiguous with the project, reported average production grades of 7.50% copper and 0.97 g/t gold, and 9.08% copper and 0.05 g/t gold, respectively. Additionally, the Sunshine Prospect within the current project area hosted artisanal production in 1916, with reported average grades of 17.38% copper and 43.6 g/t silver.

Osiris One Metals has secured the option to acquire a 100% undivided interest in the Island Range Copper Gold Project. The transaction involves the purchase of all the issued and outstanding shares of the vendor in exchange for issuing an aggregate total of 8,000,000 common shares of Osiris One Metals. Upon completion of the transaction, the vendor will become a wholly owned subsidiary of Osiris One Metals.

The acquisition is subject to the completion of a series of exploration and expenditure requirements. The company must make aggregate cash payments of $1,375,000 and incur a minimum of $530,000 in expenditures on the project. These payments and expenditures are to be made in stages over 48 months, with the first $10,000 due within 30 days of closing. The company also needs to issue common shares of Osiris One Metals with an aggregate value of $1,375,000, to be issued in four tranches over the same period.

The project area is rich in geological features that suggest the presence of a larger concealed porphyry copper-gold system. Airborne magnetics and geological interpretation support the model that numerous high-grade skarns may be peripheral expressions of a larger, concealed porphyry system. The project covers several anomalies identified by previous exploration, including the Happy John Extensions, Silver King & Copper Queen, Hecate Mountain, and Handy Creek East.

Osiris One Metals plans to commence a new exploration program in the fourth quarter of 2026. The program will include high-resolution drone mapping, systematic geochemical surveys, and induced polarisation (IP) geophysics. These activities are expected to generate multiple potential news catalysts, including the completion and interpretation of geochemical sampling and IP geophysics.

Michael Thirnbeck, an independent consulting geologist and a member of the Australasian Institute of Mining and Metallurgy (AusIMM No. 109115), has reviewed the historical exploration data and reports. Thirnbeck noted that the Island Range Copper Gold Project shares several geological characteristics with the North Island Project and the former BHP-operated Island Copper Mine, all of which occur within Vancouver Island's Wrangellia Terrane and Jurassic Bonanza magmatic arc. This geological setting provides a relevant regional context for the exploration concept.

The acquisition of the Island Range Copper Gold Project represents a significant opportunity for Osiris One Metals to advance a mineralised copper system that has seen very limited modern drill testing. The project's potential to host a large-scale copper-gold porphyry system, combined with its proximity to established infrastructure and historical production, makes it a compelling investment for the company.