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Canamera Signs Letter of Intent to Potentially Acquire Option for Third Ionic Clay REE Project in Brazil
Edmonton, Alberta--(Newsfile Corp. - February 26, 2026) - Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) ("Canamera" or the "Company") is pleased to announce that it has signed a non-binding letter of intent ("LOI") with an arm's length Brazilian mineral permits-holder (the "Offeror"), under which it may acquire an option ("Option") to earn a 100% interest (subject to a NSR and obligation to make Milestone Payments, as described below) in eight (8) exploration permits...
About this update from Canamera Energy Metals Corp
[{"type":"text","content":"Edmonton, Alberta--(Newsfile Corp. - February 26, 2026) - Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) ("Canamera" or the "Company") is pleased to announce that it has signed a non-binding letter of intent ("LOI") with an arm's length Brazilian mineral permits-holder (the "Offeror"), under which it may acquire an option ("Option") to earn a 100% interest (subject to a NSR and obligation to make Milestone Payments, as described below) in eight (8) exploration permits comprising the Patos ionic clay rare earth element ("REE") project (the "Patos Project" or the "Property") located in the State of Minas Gerais, Brazil.","length":730,"tagName":"p"},{"type":"text","content":"The Patos Project covers approximately 15,979 hectares in Presidente Olegário, Minas Gerais. The LOI is structured in two stages: first, the Company will fund a low-cost auger drill program of up to C$20,000 ("Due Diligence Payment") in order to conduct diligence ("Initial Due Diligence") on the Property; if the Company wishes to then proceed, it will, in consideration for the Due Diligence Payment, acquire the Option. The Initial Due Diligence program will consist of up to 10 auger drill holes designed to verify the presence of ionic clay REE mineralization and assess the character and distribution of the rare earth-bearing horizon.","length":661,"tagName":"p"},{"type":"text","content":""This Patos acquisition expands our exposure to another potential ionic clay rare earth system in Brazil, a country that has seen several recent rare earth discoveries within favourable geological settings," commented Canamera CEO Brad Brodeur. "We will apply a systematic exploration program to determine whether similar mineralization may be present on the Patos property in a mining friendly, relatively low cost jurisdiction."","length":450,"tagName":"p"},{"type":"text","content":"Option Exercise - Cash and Share Consideration","length":46,"tagName":"p"},{"type":"text","content":"Should Canamera acquire the Option following the completion of the Initial Due Diligence program, then such Option may be exercised by the Company making the following cash and Company share payments ("Option Payments") immediately following completi...