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Visible Gold Announces the Sale of Its Non-Core MegaLi Lithium Property to PMET Resources

Business Wire

ROUYN-NORANDA, Québec, August 24, 2026--Visible Gold Mines Inc. ("Visible Gold" or the "Company") (TSXV: VGD) (FRANKFURT: 3V41) is pleased to announce that it has entered into a purchase and sale agreement dated August 24, 2026 (the "Agreement") with PMET Resources Inc. ("PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) and Noranda Royalties Inc. ("Noranda Royalties"), pursuant to which PMET will acquire a 100% interest in the Company's wholly owned 78 exclusive exploration rights comprising the MegaLi lithium property (the "MegaLi Project"), and a 100% interest in 41 exclusive exploration rights wholly owned by Noranda Royalties (collectively with the MegaLi Project, the "Properties"), located in the James Bay region of Québec, Canada.

CEO QUOTE
Jean-Marc Lacoste, President and CEO of Visible Gold, stated: "Since joining the Company, I have made a firm commitment to focus Visible Gold's activities on our core competency: gold exploration and development. The sale of our MegaLi Project to PMET, a dedicated lithium explorer, represents the best outcome for the Company, as the project is directly adjacent to PMET's flagship lithium asset. This transaction also provides Visible Gold with a royalty interest should the Properties advance to production."

ACQUISITION TERMS
As consideration for the acquisition of a 100% interest in the MegaLi Project, PMET will make a cash payment of $201,000 to Visible Gold. In addition, PMET will grant Visible Gold a 1.34% net smelter returns royalty on the Properties (the "NSR Royalty"), subject to a voluntary purchase option, at the sole discretion of PMET, pursuant to which PMET will have the right, at any time, to purchase from the Company 50% of the NSR Royalty in consideration for a cash payment of $670,000 (the "First Buyback Right") and, following the exercise of the First Buyback Right, the subsequent right to purchase from the Company the remaining 50% of the NSR Royalty in consideration for a cash payment of $2,010,000 (the "Second Buyback Right", and together with the First Buyback Right, the "Buyback Rights"). In connection with the transaction, PMET also granted a 0.66% net smelter returns royalty on the Properties to Noranda, which royalty is also subject to buyback rights for an aggregate amount of $1,320,000.

The Agreement remains subject to the receipt of all required regulatory approvals, including approval from the TSX Venture Exchange. Closing of the transaction is anticipated within the next ten days.

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