Metalite Resources Enters Into Definitive Agreement to Acquire Launay Gold Property and Receives Shareholder Approval

About this update from Metalite Resources Inc

TORONTO, ON – TheNewswire - June 22, 2026 – Metalite Resources Inc. (CSE: METL) (OTC Pink: JNCCF) (FSE: D680) ("Metalite" or the "Company") is pleased to announce that it has entered into a definitive asset purchase agreement dated June 19, 2026 (the “Definitive Agreement”) with Launay Gold Corp. (“Launay”) and Cachee Gold Mines Corp. (“Cachee”), pursuant to which Metalite has agreed to acquire, directly or indirectly, a 100% undivided interest in and to the Launay Gold Property located in Québec, Canada (the “Launay Gold Property” or the “Transaction”), subject to certain pre-existing net smelter return royalties. Chris Hazelton, CEO of Metalite, commented: "Entering into the Definitive Agreement for the Launay Gold Property represents an important step in building Metalite’s portfolio of mineral exploration projects. The addition of Launay, located in Québec’s Abitibi region, complements the Company’s existing 100%-owned Arthurs Seat Silver-Antimony project in New South Wales, Australia. We believe the Company will be well positioned to advance both assets through focused technical evaluation, exploration planning and target development." Definitive Agreement Transaction Terms Pursuant to the Definitive Agreement, Metalite will acquire, directly or indirectly, a 100% undivided interest in the Launay Gold Property in consideration for the issuance of 6,000,000 common shares of Metalite to Launay or its designated nominee in accordance with the terms of the Definitive Agreement (the “Consideration Shares”). Shareholder Approval and New Control Person As disclosed in the Company’s March 23, 2026 news release (link to the press release), the Transaction was originally contemplated as an acquisition by Metalite of all of the issued and outstanding shares of Launay from Cachee. Pursuant to the Definitive Agreement, the Transaction has been restructured as an asset purchase pursuant to which Metalite will acquire, directly or indirectly, a 100% undivided interest in the Launay Gold Property from Launay. The issuance of the Consideration Shares is expected to result in Launay or its designated nominee becoming a new “control person” (as such term is defined in the policies of the Canadian Securities Exchange (the "CSE")) of Metalite. In accordance with applicable CSE policies, the creation of a new control person requires shareholder approval. The Company is pl...

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