TSX-V: TT to Acquire Two High-Grade Gold Deposits in Canada along the Ontario/Manitoba Border

Core Viewpoint - Total Metals Corp. has signed a binding letter of intent to acquire 100% of the High Lake and West Hawk Lake mineral properties for a total consideration of C$9.25 million, marking a significant strategic move for the company in a renowned mining district [1][2]. Acquisition Details - The acquisition includes two exploration-stage properties with established local infrastructure, supporting manageable costs and timelines [3]. - The consideration for the acquisition is structured as follows: C$7,250,000 in cash and C$2,000,000 through the issuance of common shares at a price of $0.60 per share [8][13]. - The transaction is arm's length and contingent upon Total Metals successfully raising the necessary cash through a concurrent financing [3][4]. Financial Aspects - Total Metals plans to conduct a non-brokered private placement for gross proceeds of up to approximately C$10 million, consisting of LIFE and Non-LIFE units priced at $0.60 each [6][7]. - The proceeds from the offering will be allocated to various expenditures, including the acquisition of the High Lake property, finder's fees, and exploration activities [11][13]. Exploration Potential - The High Lake Project has an initial Mineral Resource Estimate indicating significant high-grade gold potential, with indicated resources of 152,000 tonnes grading 9.38 g/t Au and inferred resources of 287,000 tonnes grading 10.43 g/t Au [14][18]. - Recent drilling results have confirmed high-grade mineralization, with notable intercepts such as 148.37 g/t Au over 1.3 m [19][20]. - The West Hawk Lake property has historical production data and near-surface high-grade targets, with a total of 457,200 tonnes grading 13.97 g/t Au reported historically [22][24]. Strategic Fit and Synergies - The acquisition of High Lake and West Hawk Lake is seen as a strategic fit with the company's existing Electrolode Project, potentially enabling operational synergies and a broader pipeline of near-term drill catalysts [3][27]. - The proximity of the two properties offers the potential for a central processing facility, which could enhance project economics [27]. Marketing and Engagement - Total Metals has engaged Market One Media Group for a 12-month marketing campaign at a cost of CAD $125,000, aimed at enhancing corporate visibility [28]. Company Overview - Total Metals Corp. focuses on the acquisition, exploration, and development of mineral properties in the Red Lake mining district of Northern Ontario, Canada, and owns 100% of the Electrolode Project [29][30].