Storm Exploration Completes Option Payment for Miminiska and Keezhik

About this update from Storm Exploration Inc

VANCOUVER, BC / ACCESSWIRE / November 12, 2024 / Storm Exploration Inc. (TSX-V:STRM) (the "Company") is pleased to announce that it has completed an option payment consisting of $262,500 cash and the issuance of 4,740,864 common STRM shares at a deemed price of $0.052733 per share in connection with its Option Agreement with Landore Resources Canada Inc. ("Landore") to acquire a 100% interest in Miminiska and Keezhik Project. The payment to Landore was made in conjunction with the amendment to the option agreement announced August 19, 2024 (see news release here). The remaining option payments under the amended agreement are subject to TSX Venture Exchange acceptance. "It is rare to have an opportunity to acquire district-scale projects like Miminiska and Keezhik, that have extensive, drill-confirmed high-grade gold endowment but are largely unexplored," commented Bruce Counts, President and CEO of Storm. "We are eager to advance both properties beginning with the drill-ready Miminiska target, which has the potential to host a significant gold deposit." About the Miminiska & Keezhik Projects The Miminiska and Keezhik projects are located within the traditional territory of the Eabametoong First Nation with whom Storm signed an Exploration Agreement (see news release dated May 23rd, 2024: Storm Exploration and Eabametoong First Nation Sign Exploration Agreement). The projects lie within the prospective geology of the Miminiska-Fort Hope greenstone belt, approximately 350 kilometres north of the city of Thunder Bay, Ontario. Each project has the potential to host a multi-million-ounce orogenic gold deposit. The Miminiska property is the Company's primary focus and hosts drill-confirmed, high-grade gold mineralization at two primary prospects: Miminiska and Frond (refer to Figure 1). Historical assays include 5.75g/t Au over 20.84m* and 13.95g/t Au over 5.32m* with mineralization hosted in banded iron formation and associated shear zones. Approximately 3,000m of drilling is planned for the Miminiska Target, which is located at the western end of Miminiska property. The goal of upcoming drill program is to confirm the target's potential by expanding and extending the known high-grade, near-surface gold mineralization. Figure 1: Miminiska Property * Historical results have not been independently verified by Storm; and, there is no guarantee that the Compan...

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