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Alaros Exploration Inc. Signs Letter of Intent to Acquire Tungsten Properties in Nevada
Delta, British Columbia--(Newsfile Corp. - April 24, 2026) - Alaros Exploration Inc. (CSE: ALAR) (the "Company"), is pleased to announce it has entered into a letter of intent with 1001528518 Ontario Inc. (the "Target") on April 23, 2026, to acquire certain exploration leases for tungsten properties located in the state of Nevada, USA (the "Transaction", and such properties, the "Properties"). The Company intends to acquire the Properties by acquiring the Target, which is the lessee of the...
About this update from Target Corporation
[{"type":"text","content":"Delta, British Columbia--(Newsfile Corp. - April 24, 2026) - Alaros Exploration Inc. (CSE: ALAR) (the "Company"), is pleased to announce it has entered into a letter of intent with 1001528518 Ontario Inc. (the "Target") on April 23, 2026, to acquire certain exploration leases for tungsten properties located in the state of Nevada, USA (the "Transaction", and such properties, the "Properties"). The Company intends to acquire the Properties by acquiring the Target, which is the lessee of the Properties.","length":546,"tagName":"p"},{"type":"text","content":"Pursuant to definitive documentation to be entered into, the Company will issue an aggregate of 10,500,000 common shares, at a deemed issuance price of $0.05 per share, to the shareholders of the Target in exchange for all of the issued and outstanding shares of the Target. The Company currently has 15,391,557 common shares issued and outstanding. The Transaction values the Target at CDN $525,000.","length":400,"tagName":"p"},{"type":"text","content":"The Properties comprise the Toy Property, consisting of 5 claims located in Churchill County, Nevada, and the Nightingale Property, consisting of approximately 223 acres in the Nightingale District within Pershing County, Nevada. The Nightingale district has a rich mining history dating back to the 1920s, when several small but high-grade tungsten mines operated along the 8-mile mineralised trend. Both properties have excellent year-round access via state and secondary roads, and close infrastructures within the Churchill and Pershing Counties of Nevada.","length":560,"tagName":"p"},{"type":"text","content":"The Target holds exploration leases (with options to purchase) with Blacklight Holdings LLC of Nevado, the owner of the Properties. Pursuant to such agreements, the Target is required to make annual leasing payments of USD $50,000 over six years, and at any time during the term of the lease can purchase the Properties for USD $1.4 million.","length":341,"tagName":"p"},{"type":"text","content":"The Target and the Company are arm's length to one another. Completion of the Transaction will not result in the creation of any new "control person", as such term is defined under the policies of the Canadian Securities Exchange. No finder's fees are payable in connection with th...