Mr. Jean-Marc Lacoste reports

VISIBLE GOLD ANNOUNCES THE SALE OF ITS NON-CORE MEGALI LITHIUM PROPERTY TO PMET RESOURCES

Visible Gold Mines Inc. has entered into a purchase and sale agreement dated Aug. 24, 2026, with PMET Resources Inc. and Noranda Royalties Inc., pursuant to which PMET will acquire a 100-per-cent interest in the company's wholly owned 78 exclusive exploration rights comprising the MegaLi lithium property and a 100-per-cent interest in 41 exclusive exploration rights wholly owned by Noranda Royalties, located in the James Bay region of Quebec, Canada.

Chief executive officer quote

Jean-Marc Lacoste, president and chief executive officer 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-per-cent 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-per-cent net smelter return royalty on the properties, 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 per cent of the NSR royalty in consideration for a cash payment of $670,000 and, following the exercise of the first buyback right, the subsequent right to purchase from the company the remaining 50 per cent of the NSR royalty in consideration for a cash payment of $2.01-million. In connection with the transaction, PMET also granted a 0.66-per-cent net smelter return royalty on the properties to Noranda, which royalty is also subject to buyback rights for an aggregate amount of $1.32-million.

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 10 days.

About Visible Gold Mines Inc.

Visible Gold Mines is a mining exploration company focused on acquiring, exploring and developing gold projects in the prolific Abitibi gold belt and the James Bay region in the province of Quebec.

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