Total Metals options High Grade Menary Gold Project with Historic Results up to 8,120 g/t Au; Highlights Strategic Position Surrounded by Coeur Mining in the Rainy River District

Core Viewpoint - Total Metals Corp. has entered into an Option Agreement to acquire 100% interest in the Menary Gold Project, which is strategically located near the Rainy River claims recently acquired by Coeur Mining for approximately US$7 billion, indicating the project's potential value in a prominent mining district [1][10]. Financial Terms - The acquisition involves total payments of $1,010,000 in cash and $1,010,000 in common shares over four years, with an initial payment of $210,000 in cash and shares due within five days of TSX Venture Exchange acceptance [4][5]. - Subsequent payments of $200,000 in cash and shares are scheduled for each of the first four anniversaries of the agreement [5]. Property Description - The Menary Property consists of 27 mining claims and 1 mining lease, covering an area of 276.5 hectares, and is accessible year-round [6]. - The property is located approximately 65 km northwest of Fort Frances and borders the Rainy River Mine, enhancing its strategic significance [6]. Exploration Results - Historical exploration has confirmed the presence of high-grade gold, with grab samples exceeding 8,000 grams per tonne and significant drill intercepts, such as 16.99 g/t Au over 6.3 meters [4][6]. - The Galbraith "A" Shear Zone has shown exceptional high-grade results, including grab samples of 8,120 g/t Au, 1,885 g/t Au, and 1,400 g/t Au [6][7]. Geological Context - The Menary Property is situated in the Rainy River greenstone belt, with mineralization associated with sheared mafic metavolcanics and quartz-feldspar porphyry dykes [9]. - Preliminary metallurgical work indicates that the gold and silver can be recovered through gravity separation, suggesting favorable processing characteristics [9]. Strategic Importance - The acquisition of the Menary Gold Project is positioned within a district that is gaining attention due to recent consolidation activities, particularly Coeur Mining's acquisition of New Gold, which underscores the long-term mining potential of the area [10][11].