Business
Apex Resources Grants Option to Fortress Strategic Metals to Explore and Mine Tungsten Zones in The Jersey-Emerald Project in BC and Appointment of Officer
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - Apex Resources Inc. (TSXV: APX) (OTCID: SLMLF) ("Apex" or the "Company") is pleased to announce
About this update from Apex Resources Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - Apex Resources Inc. (TSXV: APX) (OTCID: SLMLF) (\"Apex\" or the \"Company\") is pleased to announce that on May 15, 2026, it entered into a mining option agreement (the \"Option Agreement\") with Fortress Strategic Metals Corp. (\"Fortress\"), a private company at arm's length to the Company, pursuant to which the Company has agreed to grant to Fortress the exclusive option (the \"Option\") to earn, in stages, up to a one-hundred percent (100%) undivided interest (the \"Interest\") in and to eighteen (18) crown granted mineral claims, one (1) four post claim, one (1) two post claim and two (2) located mineral claims (the \"Mineral Claims\") forming part of the Company's \"Jersey-Emerald Project\" located near Salmo, British Columbia, solely for the purpose of conducting exploration and mining operations on the Tungsten Zones (as described below) within the Mineral Claims (the \"Transaction\"). Fortress' rights under the Option Agreement are limited exclusively to the Tungsten Zones, and the Company retains all rights to access, explore, develop, and mine the Non-Tungsten Areas (as that term is described in the Option Agreement) at all times.The Tungsten Zones encompass the Emerald Tungsten Deposit, the East Emerald Tungsten Deposit, the Dodger Tungsten Deposit, the Dodger \"D\" Deposit, the Invincible Tungsten Deposit and the Feeney Tungsten Deposit, all located within the Mineral Claims and as further described in section 7.3.1 of the technical report entitled \"NI 43-101 Resource Estimate for the Jersey-Emerald Project\", a technical report prepared in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\"), with an effective date of July 26, 2021 (the \"Tungsten Zones\").Terms of the Option AgreementPursuant to the Option Agreement, Fortress may exercise the Option in three stages as follows: Fortress has the right to acquire an undivided 25% Interest (the \"Phase I Option\") by: (i) issuing to the Company such number of common shares of Fortress (the \"Fortress Shares\") valued at $1,000,000 or, if the Fortress Shares are not then listed on an internationally recognized stock exchange (the \"Listing\"), special warrants of Fortress (the \"Phase I Special Warrants\") valued at $1,000,000, each ...