ValOre Metals Extends Outside Date for HUC Disposition

ValOre Metals has extended the Outside Date for the disposition of Hatchet Uranium Corp. (HUC) shares to Future Fuels Inc. (FTUR) from March 31, 2026, to April 30, 2026, with closing remaining conditional on review and acceptance by the TSX Venture Exchange (TSXV).

HUC shareholders unanimously approved the transaction with FTUR in March 2026. The disposition is governed by an Amalgamation Agreement between FTUR, 1564470 B.C. Ltd., and HUC.

About ValOre Metals

ValOre Metals [TSXV:VO] is a Canadian company focused on deploying capital and knowledge on projects that benefit from substantial prior investment, the existence of high-value mineralization at scale, and the potential to add value through exploration and innovation. ValOre has been executing a plan to extract value from its Hatchet Property through HUC while concentrating resources on its core Pedra Branca asset.

Transaction History

In 2024, ValOre initiated a plan to extract value from the Hatchet Property in order to focus on its Pedra Branca platinum group metals property. Under a Framework Agreement, ValOre transferred the Hatchet Property to HUC, a newly incorporated, wholly owned subsidiary, in exchange for 7,500,000 HUC shares at $0.10 per share. Concurrently, Beaconsfield Ventures Ltd. subscribed for 2,500,000 HUC shares at $0.10 per share. Upon completion of those transactions in February and March 2024, ValOre held 75% of HUC, and Beaconsfield held 25%.

A charity flow-through share financing completed in May 2024 reduced ValOre's interest from 75% to 67.5%. Subsequent financings in December 2024 and January 2025 further reduced ValOre's interest from 67.5% to 56.8%.

On October 29, HUC entered into agreements with Skyharbour Resources Ltd. to acquire an option for an 80% interest in the Highway Property and to purchase the Genie, Usam, and CBX/Shoe uranium projects, collectively referred to as the Genie Property. In early 2025, HUC issued 1,452,013 units at $0.49 per unit to Skyharbour as consideration for the Genie Property. That issuance reduced ValOre's interest in HUC from 56.8% to approximately 51% on an undiluted basis. A side letter in April 2026 added a blocker provision that prevents Skyharbour from holding 10% or more of HUC or a successor company's shares.

Consulting Agreement & Debenture

HUC entered into a consulting agreement with JWC Capital Inc. in October 2025 for advisory services in connection with a financing or sale transaction. In February 2026, JWC assigned its rights under the consulting agreement to Holley Investments Inc., and the deadline for completing a sale transaction was extended to April 30, 2026.

As compensation, Holley was permitted to purchase a debenture in the principal amount of $250,000. HUC received the $250,000 from Holley in December 2025; the debenture certificate was issued in March 2026. This distinction is relevant to ValOre's unaudited financial statements for the period ended late 2025, which reflect receipt of the $250,000 during the fourth quarter of 2025, prior to the debenture's issuance.

If a sale transaction is completed by April 30, 2026, the debenture automatically converts into 5,000,000 HUC common shares at $0.05 per share immediately prior to closing, reducing ValOre's interest in HUC from approximately 51% to 38% at the closing of the amalgamation. If no sale transaction is completed by April 30, 2026, HUC must repay the $250,000 to Holley.

Next Steps

Closing of the disposition remains subject to review and acceptance by the TSX Venture Exchange. The Outside Date is April 30, 2026. ValOre and HUC must satisfy the remaining closing conditions before the transaction can be completed.