VANCOUVER, BC - Capella Minerals Ltd (TSXV: CMIL) (OTC Pink: CMILF) (FRA: N7D2) ('Capella' or the 'Company') is pleased to announce that it has signed a Definitive Agreement with Turkish mining company, Tumad Madencilik Sanayi Ve Ticaret A.S. ('Tumad'), with respect to a staged earn-in proposal for the Company's portfolio of precious and base metal projects in Northern Finland and Norway.
The Definitive Agreement contemplates an on-signing cash payment to Capella and mandatory Year 1 work commitments including the completion of up to 4,000m of drilling on the Northern Finland project and up to 8,000m of drilling on the Norwegian projects for a 30% interest in Capella's holding in the respective project. After the completion of Year 1, Tumad retains the option to either continue investing in exploration (and thereby increasing its interest in the respective project(s)) or reverting to a Net Smelter Royalty (NSR) on projects in each country that it decides not to continue with. Further details of the Tumad earn-in agreement are provided in the Company News Release dated June 2, 2025.
Tumad currently produces approximately 200,000 ounces of gold per annum from two mining operations located in western Turkiye. This strategic partnership with Capella is expected to provide Tumad with an excellent opportunity to expand its international footprint both within the highly-prospective Scandinavian region and elsewhere.
Eric Roth, Capella's President and CEO, commented today: 'I am extremely pleased to be announcing today the signing of our Definitive Agreement with Tumad on our Finnish and Norwegian projects. Tumad's technical team are renowned mine builders, operators, and explorers, and will complement our successful track record in global exploration and discovery. Tumad's backing will also be key for Capella to be able to capitalize on the current strong market momentum for both gold and copper projects. I look forward to making this a highly-successful venture for both parties and to keeping markets updated on our progress'.
About Capella Minerals Ltd
Capella is a Canadian exploration and development company with a focus on generating gold-copper projects globally.
Capella announced on September 2, 2025, the signing of a Definitive Agreement with Turkish mining company, Tumad Madencilik Sanayi Ve Ticaret A.S. ('Tumad'), for a staged earn-in on the Company's portfolio of precious and base metal projects in Scandinavia. Projects covered by the Tumad earn-in agreement include the Company's five gold-copper projects in the Central Lapland Greenstone Belt of northern Finland (and part of the Cullen Resources Limited JV), including the priority Killero E target (a former Anglo American copper-gold project that was never drill tested) and the Saattopora W target (the western extension to Outokumpu Oy's Saattopora former copper-gold mine1), all of which are located about 40km SW of Agnico Eagle's Kittila Gold Mine1.
Also included in the Tumad earn-in agreement are the Company's 100% interests in the advanced exploration-stage Hessjogruva and adjacent Kongensgruve copper-cobalt-zinc massive sulfide ('VMS') projects in the northern Roros mining district, Trondelag province, central Norway.
Capella also retains a carried 10% interest through to production on the Lokken copper-cobalt-zinc VMS project of central Norway through a partnership with Teako Minerals Corp. ('Teako')
Capella also holds equity positions in Teako and Grit Metals Corp. ('Grit'; formerly European Energy Metals Corp), together with Net Smelter Royalties on the Savant Gold Project in Ontario, Canada (BeMetals Corp.) and the Central Finland Lithium Projects (Grit), as a result of the recent divestiture of non-core assets.
Contact:
Karen Davies
Tel: +1.604.314.2662
Web: www.capellaminerals.com
(C) 2025 Electronic News Publishing, source ENP Newswire