Business
Pacific Imperial enters into an Option Agreement to acquire Fenton Property in British Columbia
(TheNewswire)   Vancouver, British Columbia – TheNewswire - January 27, 202...
About this update from Pacific Imperial Mines Inc.
[{"type":"text","content":"Pacific Imperial enters into an Option Agreement to acquire Fenton Property in British Columbia \n(TheNewswire)\n \n\nVancouver, British Columbia –\nTheNewswire - January 27, 2026 – Pacific Imperial Mines Inc.\n(TSX.V: PPM) (“Pacific Imperial”\nor the “Company”) is pleased to announce that it has entered into an\noption agreement dated January 26, 2026 (“Option Agreement”)\nwith Hudbay Minerals Inc. (“Hudbay”) pursuant to which Hudbay has\ngranted the Company the option (the “Option”) to acquire\na 100% interest in the Fenton property in British Columbia (the\n“Property”). \n\n\nThe Property has road access and is situated 30 kilometres south of\nHouston, British Columbia.\nThe approximately 1,700-hectare Property\nis extensively covered by\nglacial till and is accessible by a network of logging roads.\nPast exploration on the Property includes geochemistry,\nairborne and ground geophysics and limited drilling. Mineralization on\nthe Property is an\nepithermal, high to low sulphidation, precious metal system hosted\nwithin felsic volcanic rocks of the Kasalka Formation. The age,\nmineralization and alteration characteristics of the Property are\nsimilar to those of Artemis’ Blackwater deposit, which lies to the southeast along a Southeast-Northwest\nregional trend which hosts a majority of the gold-silver prospects and\ndeposits in the region. The past producing Equity Silver mine is 40\nkilometres east of the Property.\n\n\nThe transactions contemplated by the Option Agreement\nare subject to the Company obtaining the approval of the TSX Venture\nExchange (the “Exchange”). \n\n\nUnder the Option Agreement, in order to exercise the\nOption, the Company must complete all of the following earn-in\nrequirements on or before the sixth anniversary of the date that the\nExchange provides approval for the transactions contemplated by the\nOption Agreement: \n\n\n(a) incur an aggregate of\nC$5,250,000 in exploration expenditures on the Property in staged\namounts for each anniversary ending on the sixth anniversary\ndate;\n\n\n(b) make a one-time initial cash\npayment to Hudbay in the amount of C$25,000 within 180 days following\nthe date that the Company receives Exchange approval for the Option\nAgreement; and\n\...