Rockport Capital Corp agrees to acquire New Age Metals’ Genesis Ni-Cu-PGE property in Alaska

Rockport Capital Corp., a Tier 1 capital pool company listed on the TSX Venture Exchange (TSXV: R.P), has announced a significant move towards its strategic expansion plans with the execution of a definitive agreement for the acquisition of New Age Metals Inc.’s (NAM) Genesis Ni-Cu-PGE property in Alaska, USA. The transaction, subject to certain conditions, aims to solidify Rockport’s position as a Tier 2 mining issuer focused on the exploration and development of the property.

The definitive agreement, entered into on September 1, 2026, follows a non-binding letter of intent signed between Rockport and NAM in May 2026. Under the terms of the agreement, Rockport will have the opportunity to earn an initial 50% interest in the Genesis property, with the potential to increase this to 70% through additional investment and exploration efforts. This acquisition, known as the Proposed Transaction, is subject to approval by a majority of Rockport’s disinterested shareholders.

The Genesis property, situated in the northeastern Chugach Mountains near Valdez, Alaska, is an exploration-stage mineral property. It covers 10,240 acres and is accessible via the all-season Richardson Highway and a high-capacity electric power line. The property has not yet generated commercial revenues, but the exploration potential is significant.

Rockport is committed to funding the initial earn-in obligations, which include a $25,000 cash payment, issuance of 1,000,000 common shares, and exploration expenditures of at least $250,000 within 12 months. Upon completion of these obligations, Rockport will secure an initial 50% interest in the property. Following this, the company may elect to form a joint venture with NAM to further develop the property and achieve the remaining 20% interest, contingent on additional expenditures and payments.

The operator of the property, NAM, has already commenced a 2026 field program recommended in the technical report, with expenditures to be reimbursed by Rockport post-closing. To facilitate the transaction, Rockport plans to conduct a concurrent financing raising at least $750,000, with a maximum of $2,000,000, through a non-brokered private placement. A minimum of 20% of the financing proceeds will be reserved for current shareholders.

The transaction is classified as a Non-Arm’s Length Qualifying Transaction under TSXV policies, necessitating shareholder approval. Rockport’s board has determined that the transaction is fair and reasonable to the company and its shareholders. The proposed related party transactions will be disclosed in the Information Circular, which will be prepared and distributed to shareholders for approval.

Trading in Rockport’s shares will remain halted pending the completion of the transaction. Once the definitive agreement is ratified, the company expects to be classified as a Tier 2 mining issuer on the TSXV, subject to the exchange’s final approval. The Information Circular, containing detailed disclosure on the transaction and the property, will be filed with the TSXV and made available on SEDAR+.

The board of the Resulting Issuer, upon completion of the transaction, is expected to consist of Gordon Chunnett (President and director), Harry G. Barr (CEO and director), Curtis Freeman (director), and Robert Guanzon (CFO).

Rockport Capital Corp. remains focused on advancing its strategic initiatives and enhancing shareholder value through the acquisition of high-potential mineral properties.