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Midasco Capital Corp. Completes Acquisition of Tungsten and Critical Metals Project from Ridgeline Minerals
Midasco Capital Corp. Announces Name Change to Spartan Metals Corp. Vancouver, British Columbia-...
About this update from Ridgeline Minerals Corp
[{"type":"text","content":"Midasco Capital Corp. Completes Acquisition of Tungsten and Critical Metals Project from Ridgeline MineralsMidasco Capital Corp. Announces Name Change to Spartan Metals Corp.Vancouver, British Columbia--(Newsfile Corp. - July 31, 2025) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (\"Ridgeline\") and Midasco Capital Corp. (\"Midasco\") (TSXV: MGC-H) are pleased to announce that they have completed the previously announced arm's length sale and purchase of Spartan Exploration Nevada Corporation (\"Spartan\") in accordance with the terms of a share purchase agreement dated June 2, 2025 (the \"Agreement\"). On closing, Midasco acquired 100% of the issued and outstanding shares of Spartan, an entity which holds 244 lode mineral claims located in White Pine County, Nevada which are referred to as the Eagle Property (the \"Property\") (Figure 1). The Eagle Property is a tungsten-copper porphyry and skarn system which hosts one of the highest-grade past producing tungsten districts in the United States with the Tungstonia and Rees mine operations producing a reported 8,352 tonnes of tungsten trioxide at average grades of 0.6-1.0% between 1917-19561. The Property also exhibits significant concentrations of rubidium, copper, silver, antimony as well as lesser lead and zinc, which is interpreted as part of the larger metal zonation pattern of the porphyry system across the district.In accordance with the terms of the Agreement on closing, Midasco issued Ridgeline 5,830,466 of its common shares (the \"Midasco Shares\") representing 19.9% of Midasco's total issued and outstanding shares. In addition, on the one-year anniversary of the closing date, Midasco will issue Ridgeline additional Midasco Shares equal to the lesser of: (i) 5,000,000; and (ii) such number of Midasco Shares as would result in Ridgeline's holding 19.9% of Midasco's total issued and outstanding shares. Ridgeline has also been granted a 1% net smelter return royalty on the Property as well as on any additional ground staked within a 2-mile area of interest around the Property. In connection with the transaction, Midasco had its listing reactivated by the TSX Venture Exchange (the \"Exchange\") and is now a Tier 2 mining issuer. In addition, Midasco announces that it has changed its name to \"Spartan Metals Corp.\" It is anticipated that the M...