Core Viewpoint - MetalQuest Mining Inc. has amended the royalty provisions for its Lac Otelnuk Iron Project, simplifying the agreement and providing greater flexibility for future operations [1][2][3]. Royalty Structure Amendments - The existing royalty has been replaced with a 2.5% gross overriding royalty (GOR) based on the gross invoiced value from arm's-length sales of iron products, with no deductions for costs [4]. - The company has the option to reduce the GOR by 1.0% to 1.5% through the issuance of 500,000 common shares, pending necessary approvals [4]. - The GOR will remain attached to the mineral claims of the Lac Otelnuk Iron Project [4]. Project Development and Financials - Approximately $120 million has been invested in the Lac Otelnuk Iron Project to date, with ongoing efforts to gather technical data [8]. - The company is collaborating with the Naskapi First Nation and has engaged AtkinsRéalis for a comprehensive gap analysis of the 2015 Feasibility Study [8]. - The company also owns approximately 1.8 million free trading shares and 2.5 million warrants of Canadian Copper Inc., with CCI shares trading at $0.61 as of January 19, 2026 [11]. New Acquisitions and Future Plans - MetalQuest has secured the ROF-1 Project in Ontario's Ring of Fire, covering approximately 20,800 hectares, indicating a strategic move to expand its portfolio in critical minerals [9]. - Initial work at the Superior Iron Project is planned for Winter/Spring 2026, focusing on geological surveys and environmental studies to support future exploration [10].