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MetalQuest Mining Amends Royalty on its Lac Otelnuk Iron Project in Quebec
(TheNewswire)   "Not for distribution to United States newswire services or for d...
About this update from Metalquest Mining Inc
[{"type":"text","content":"MetalQuest Mining Amends Royalty on its Lac Otelnuk Iron Project in Quebec\n(TheNewswire)\n\n\n\n \n\n\n\"Not for distribution to United\nStates newswire services or \n\n\nfor dissemination in the United\nStates.\"\n\n\n \n\n\nJanuary 20, 2026 -Vancouver, BC – TheNewswire – MetalQuest Mining Inc.\n(TSX.V: MQM; OTCQB: MQMIF) (“MQM” or “Company”) is pleased to\nannounce that it has entered into an amending agreement dated January\n8, 2026 (the “Amending Agreement”) with 743584 Ontario Inc. (the\n“Royalty Holder”), an arm’s-length party, to amend the royalty\nprovisions applicable to the Company’s Lac Otelnuk Iron Project\nlocated in Quebec.\n\n\n \n\n\nThe Amending Agreement modifies the royalty terms under\nthe Property Option and Purchase Agreement originally dated November\n11, 2022, as amended, pursuant to which MetalQuest holds a 100%\ninterest in the Lac Otelnuk Iron Project, subject to a royalty.\n\n\n \n\n\nChairman and CEO Harry Barr\nstated,\n\n\n“The amended royalty structure simplifies the\nunderlying agreement on the Lac Otelnuk Iron Project and provides the\nCompany with additional flexibility as it completes its current gap\nanalysis and reviews future technical work programs. \n\n\n \n\n\nReducing the royalty burden under the amended agreement\nprovides the Company with greater optionality as it considers\npotential adjustments to the overall royalty structure.”\n\n\n \n\n\nKey Amendments to Royalty\nStructure\n\n\n \n\n\nUnder the amended terms:\n\n\n \n\n\n\nThe existing royalty has been replaced with a 2.5%\ngross overriding royalty (“GOR”) calculated on the actual gross\ninvoiced value received from arm’s-length sales of iron products\nderived from the project, with no deductions for transportation,\nmarketing, handling, or similar costs. \n\n\n\n \n\n\n\nMetalQuest has been granted a one-time right to reduce\nthe GOR by 1.0%, thereby reducing the royalty from 2.5% to 1.5%,\nthrough the issuance of 500,000 common shares of the Company to the\nRoyalty Holder, subject to receipt of all required board and TSX\nVenture Exchange approvals. \n\n\n\n \n\n\n\nFollowing any such reduction, the Company will retain a\nright of first refusal on an...