Go Metals Provides Update on KM98, Announces Option Agreement on Monster Project and Share Consolidation

Core Insights - Go Metals Corp. has reported positive preliminary results from Phase 1 metallurgical testing at its KM98 Project in Quebec, indicating effective separation of magnetite and ilmenite concentrates using conventional methods [2][3][9] - The company has entered into an option agreement with Flow Metals Corp. for the acquisition of a 100% interest in the Monster Yukon IOCG project, allowing Go Metals to focus on its core assets while retaining exposure to the Monster Project's potential [3][11] KM98 Metallurgical Testing - Phase 1 testing at KM98 was designed to evaluate the response of mineralization to conventional physical separation methods, confirming the ability to produce distinct concentrate products [4][9] - Two representative samples were tested: one massive oxide and one semi-massive oxide, with testing conducted by IOS Géosciences [5] - The separation methodology involved conventional physical separation techniques, including Davis Tube magnetic separation and heavy liquid separation [6] Concentrate Results - Preliminary results for magnetite concentrates showed grades of 68.5% Fe and 0.24% V for the massive oxide sample, and 66.3% Fe and 0.22% V for the semi-massive oxide sample [7] - Ilmenite concentrates were also produced, with grades of approximately 37.7% Ti for the massive oxide and 38.9% Ti for the semi-massive oxide [8] Future Testing Plans - Planned Phase 2 testing will optimize separation parameters and include full head and concentrate assays, along with detailed mineralogical analysis [10] Option Agreement Details - The Option Agreement with Flow Metals includes payments and share issuances totaling 3 million common shares initially, with additional payments contingent on project milestones [15] - The transaction is classified as a related party transaction, with compliance to Multilateral Instrument 61-101 requirements [11][12] Share Consolidation - The board has approved a share consolidation on a 1-for-2 basis, reducing the number of outstanding shares from approximately 26.66 million to about 13.33 million [13][17] Company Overview - Go Metals is focused on responsible exploration for critical metals in mining-friendly jurisdictions, with a portfolio that includes KM98 (Ti/V/Fe), HSP (Ni/Cu), and Oriole (Ni/Cu) [19]