Legacy Lithium Enters Into Option Agreement for the Vent Copper Property
CALGARY, Alberta, Jan. 15, 2026 (GLOBE NEWSWIRE) -- Legacy Lithium Corp. (the “Company” or “Legacy”) is pleased to announce that it has entered into an option agreement (the “Option Agreement” with Geomap Exploration Inc. (“Geomap”) under which Legacy has the right to acquire the Vent Copper Property (the “Property”), located in the Alberni Mining Division in British Columbia, Canada. The Property consists of two mineral claims, comprising approximately 1,500 hectares, which are prospective for copper mineralization.
Under the terms of the Option Agreement, Legacy may earn a 100% interest in the Vent Copper Property by making aggregate cash payments of $130,000, issuing 350,000 common shares in the capital of the Company (“Shares”) (subject to adjustment pursuant to the terms of the Option Agreement) and funding a total of $750,000 in exploration expenditures, as follows:
| Cash | Shares | Exploration |
| $15,000 payable on or before January 21, 2026 | 200,000 Shares to be issued within ten business days of the completion of a Go Public Transaction | $150,000 to be spent on the exploration of the Property by April 14, 2026 |
| An additional $35,000 payable within ten business days of the date (i) the Company completes a transaction whereby the Shares are listed on a stock exchange or (ii) the Company completes a transaction with an entity whereby shareholders of the Company receive shares listed on a stock exchange (collectively, a “Go Public Transaction”) | An additional 150,000 Shares to be issued within one calendar year of the completion of a Go Public Transaction | An additional $250,000 to be spent on the exploration of the Property by the date that is one calendar year following the completion of a Go Public Transaction |
| An additional $30,000 payable within one calendar year of the completion of a Go Public Transaction | An additional $350,000 to be spent on the exploration of the Property by the date that is two calendar years following the completion of a Go Public Transaction | |
| An additional $50,000 payable within two calendar years of the completion of a Go Public Transaction |
Legacy shall be the operator of the Property during the term of the Option Agreement. Upon the payment of these amounts and the issuance of these Shares to Geomap, and the completion of the expenditure requirements above, Legacy will hold a 100% interest in the Property, subject to a 1.5% net smelter return royalty in favour of Geomap, of which 1% may be repurchased for $1 million.
On Behalf of the Board of Directors
Paul More
Interim CEO
Contact
Phone: (604) 294 3020
Email: info@legacylithiumcorp.com
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. In particular, this news release contains forward-looking information relating to, among other things, the exploration potential of the Property, including the potential of the Property to host copper mineralization.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, the assumption that the historical work completed on the Property to date has been performed as documented and the results of such exploration work are accurate.
Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project and that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company, including the establishment of copper mineralization at the Property. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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