Edmonton, Alberta--(Newsfile Corp. - July 8, 2026) - Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) ("Canamera" or the "Company") announces that it has entered into an option agreement (the "Option Agreement") with Nemo Resources Inc. (the "Owner") under which it may acquire a 100% undivided interest in the Rare Earth Ridge rare earth element ("REE") and niobium ("Nb") project (the "Project" or "Rare Earth Ridge") located in northwestern Ontario, approximately 172 kilometres north of Hearst, Ontario.
The Project comprises approximately 7,320 hectares of mineral claims covering two carbonatite intrusions, each approximately 6 kilometres in diameter. The right to acquire the Project adds a fourth potential REE and Nb project in Ontario to Canamera's exploration portfolio.
"Rare Earth Ridge gives us exposure to two large carbonatite systems, a geological setting that hosts many of the world's most significant rare earth element and niobium deposits." Canamera CEO Brad Brodeur commented, "Given the scarcity of mineralized carbonatites globally, we believe this project offers compelling exploration potential and aligns well with our strategy of advancing high-quality critical minerals assets."
Option Agreement Terms
Under the Option Agreement, Canamera may acquire a 100% undivided interest in the Project by issuing common shares of Canamera to the Owner having the following aggregate deemed values (collectively, the "Option Payments"):
Common shares having an aggregate deemed value of $60,000, to be issued within five (5) business days following receipt of all required regulatory approvals, including approval of the Canadian Securities Exchange ("CSE") (the "First Issuance Date");
Common shares having an aggregate deemed value of $60,000, on or before the second anniversary of the First Issuance Date;
Common shares having an aggregate deemed value of $60,000, on or before the third anniversary of the First Issuance Date; and
Common shares having an aggregate deemed value of $100,000, on or before the fourth anniversary of the First Issuance Date.
The number of common shares issued under each instalment are to be calculated using the 10-day volume weighted average trading price ("VWAP") of Canamera's common shares on the CSE (or such other exchange on which the shares are then listed) immediately preceding the date of issuance, subject to applicable stock exchange policies. All shares issued will be subject to applicable statutory hold periods.
Upon completion of all Option Payments, Canamera will be deemed to have acquired a 100% undivided interest in and to the Project, subject only to a 2.0% net smelter return royalty (the "NSR Royalty") reserved to the Owner. Canamera has the right, at its sole discretion, to purchase one-half of the NSR Royalty (reducing it from 2.0% to 1.0%) by making a one-time cash payment of $2,000,000 to the Owner at any time. Canamera will be the operator of the Project and is not obligated to incur any minimum exploration expenditures, nor to exercise the Option.