Apogee Minerals Ltd. (“Apogee” or the “Company”) (TSXV: APMI) is pleased to announce that it has entered into a mineral property purchase and sale agreement dated October 19, 2026 (the “Purchase Agreement”) with Eagle Plains Resources Ltd. (“Eagle Plains”) (TSXV: EPL), an arm’s length party, pursuant to which Apogee will acquire a 100% right, title and interest in and to five (5) mineral claims comprising approximately 1,965 hectares located adjacent to and within the Company’s Knife Lake Copper Project in east-central Saskatchewan (the “Eagle Plains Claims”), subject to a 2.5% net smelter returns royalty in favour of Eagle Plains as described below (the “Transaction”).
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Apogee → announce → Plains
The Eagle Plains Claims consist of two (2) claims (MC00023467 and MC00022977) located immediately adjacent to the northern portion of the Knife Lake Project, and three (3) claims (MC00023444, MC00023445 and MC00023447) located within the existing boundary of the Knife Lake Project, near the south end of the Knife Lake Deposit and immediately east of it.
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Claims → consist → it
The acquisition consolidates the Company’s land position around the Knife Lake Deposit and adds prospective ground along the same stratigraphy that hosts the Knife Lake Deposit and the Company’s regional targets.
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that → consolidate → Deposit
Upon closing of the Transaction, and together with the fifty-four (54) claims comprising the Knife Lake Project currently under option from Trident Resources Corp., the Company’s land position at Knife Lake will total fifty-nine (59) mineral claims comprising approximately 37,220 hectares.
Brady Rak, Chief Executive Officer of Apogee, commented: “Consolidating the ground around the Knife Lake Deposit has been a priority since we optioned the project.
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we → comprise → project
Two of these claims sit on our northern boundary and the other three fill gaps inside the existing property, all along the same geological trend that hosts the known mineralization.
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that → sit → mineralization
With the land package expected to exceed 37,000 hectares on closing, we have room for new discoveries, and our first order of business is following up on the high-grade copper intercepts drilled by previous operators.
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order → expect → operators
Eldorado Gold’s roughly C$3.8 billion acquisition of Foran Mining and its McIlvenna Bay VMS deposit earlier this year says a great deal about how the majors view Saskatchewan and the prospectivity of this part of the province.
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majors → say → province
Combine that with a copper price supported by real demand growth and limited new supply, and this is a good time to be advancing a near-surface copper deposit with more than 400 drill holes behind it.”
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this → combine → it
Transaction Highlights:
Pursuant to the Purchase Agreement, in consideration for a 100% interest in the Eagle Plains Claims, Apogee will pay to Eagle Plains $20,000 in cash (the “Cash Consideration”), issue to Eagle Plains 1,000,000 common shares of the Company (the “Shares”) and grant to Eagle Plains a 2.5% net smelter returns royalty on the Eagle Plains Claims (the “NSR Royalty”), as follows:
(1) The Cash Consideration is payable, and the Shares are to be issued within five (5) business days following receipt of acceptance of the TSX Venture Exchange (the “TSXV”), in each case on or before the Closing Date and no later than thirty (30) days from the date of the Purchase Agreement.
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Shares → pay → Agreement
Closing is expected to occur on or before November 16, 2026.
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Closing → expect → November
(2) All Shares issued pursuant to the Transaction will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities legislation.
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Shares → issue → legislation
(3) The NSR Royalty will be granted pursuant to a net smelter returns royalty agreement to be entered into at closing (the “Royalty Agreement”).
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Royalty → grant → closing
Apogee will have the right, at any time, to buy down 1.0% of the NSR Royalty for a cash payment of $2,000,000, thereby reducing the NSR Royalty from 2.5% to 1.5%.
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Apogee → have → %
The NSR Royalty will be calculated and paid on a calendar quarter basis following the commencement of commercial production on the Eagle Plains Claims.
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Royalty → calculate → Claims
Closing of the Transaction remains subject to the receipt of acceptance of the TSXV and the satisfaction of customary closing conditions, including the transfer of the Eagle Plains Claims to the Company through the Mineral Administration Registry Saskatchewan (MARS) system.
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Closing → remain → system
The Eagle Plains Claims are in good standing with the Province of Saskatchewan and are being acquired free and clear of any encumbrances other than the NSR Royalty and customary permitted encumbrances.
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Claims → acquire → Royalty
The Knife Lake Project (the “Property”) is an exploration-stage copper, silver, zinc, gold and cobalt property located approximately 136 kilometres northwest of Flin Flon, Manitoba, in east-central Saskatchewan, a jurisdiction consistently ranked among the top mining jurisdictions in the world by the Fraser Institute.
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Project → locate → Institute
The Property hosts the Knife Lake Deposit, a near-surface, stratabound volcanogenic massive sulphide (“VMS”) style deposit.
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Property → host → Deposit
The mineralized zone is approximately 15 metres thick on average and dips 30° to 45° eastward over a known strike length of approximately 4.5 kilometres across 3 zones (Central-South, Bay, North) with an average known down-dip extension of approximately 300 metres.
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zone → dip → metres
The Property benefits from a comprehensive database of more than 400 drill holes derived from historical and modern exploration programs completed between 1968 and 2022.
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Property → benefit → 1968
The most recent work, completed by Rockridge Resources Ltd. (now Trident), comprised diamond drill programs in 2021 and 2022 totalling approximately 3,000 metres and a VTEM airborne geophysical survey in 2021.
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work → complete → 2021
The 2021 VTEM survey data identified numerous conductive anomalies along the same prospective stratigraphy that hosts the Knife Lake Deposit.
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that → identify → Deposit
Highlights from the 2022 drill program include drill hole KF22029, which intersected 15.75 metres of 1.91% Cu, 0.23 g/t Au, 7.79 g/t Ag, 0.30% Zn and 0.01% Co starting from 13.00 metres downhole.
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which → include → Cu
Reported intervals are drilled core lengths and true thicknesses are undetermined.
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thicknesses → report → ?
The Property also hosts numerous regional exploration targets, including Redhill Lake, Scimitar Lake, Pistol Lake and Gilbert Lake.
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Property → host → Lake
Apogee holds the sole and exclusive right and option to acquire a 100% interest in the Knife Lake Project from Trident Resources Corp. (TSXV: ROCK) pursuant to an option agreement dated July 13, 2026, as previously announced in the Company’s news release dated July 14, 2026, and the closing news release dated September 16, 2026.
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Apogee → hold → release
The scientific and technical information contained in this news release has been reviewed and approved by John Shmyr, P.Geo., of Dahrouge Geological Consulting Ltd., a registered member of the Association of Professional Engineers and Geoscientists of Saskatchewan.
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information → contain → Saskatchewan
Mr. Shmyr is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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Shmyr → define → Projects
Mr. Shmyr is independent of the Company and has verified the drilling data disclosed in this news release against the Company’s digital database and the original laboratory certificates, and consents to the inclusion of the matters based on his information in the form and context in which it appears.
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it → verify → which
About Apogee Minerals Ltd.:
Apogee Minerals Ltd. is a Canadian copper and base metal exploration company that holds an option to acquire a 100% interest in the Knife Lake Copper Project.
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that → hold → Project
The asset comprises 54 mineral claims totalling approximately 35,255 hectares in east-central Saskatchewan, located approximately 136 kilometres northwest of Flin Flon, Manitoba and approximately 180 kilometres northeast of La Ronge, Saskatchewan – a jurisdiction consistently ranked among the top mining jurisdictions in the world by the Fraser Institute.
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asset → comprise → Institute
The Property hosts the Knife Lake Deposit, a near-surface, stratabound volcanogenic massive sulphide (“VMS”) style copper-zinc-silver-gold-cobalt deposit.
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Property → host → Deposit
Our goal is to build shareholder value through mineral project acquisitions and advancement, as well as through new mineral discoveries.
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goal → build → discoveries
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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term → define → release
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation.
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release → contain → legislation
The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.
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Company → look → law
Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved.
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actions → look → effect
These forward-looking statements include, among other things, statements relating to the completion of the Transaction, including TSXV acceptance, the satisfaction of closing conditions and the expected timing of closing; the issuance of the Shares and payment of the Cash Consideration; the grant of the NSR Royalty and the Company’s right to buy down a portion of the NSR Royalty; the exploration potential of the Eagle Plains Claims; the Company’s expectations regarding copper prices and demand; the exercise of the Company’s option to acquire a 100% interest in the Knife Lake Project; the Company’s planned exploration activities on the Knife Lake Project and the Eagle Plains Claims; and further advancement of the Knife Lake Project.
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statements → look → Project
Such forward-looking statements are based on a number of assumptions of management of the Company, including, without limitation, that the parties will obtain all necessary corporate and regulatory approvals and consents required for the completion of the Transaction, including TSXV acceptance; that the other conditions to the completion of the Transaction will be fulfilled; that the Company will be able to satisfy the option payments and exploration expenditures necessary to exercise its option on the Knife Lake Project; that the Company will be able to pursue its exploration plans on the Knife Lake Project and the Eagle Plains Claims as anticipated and within the expected time frame; that results of exploration activities will be consistent with anticipated results; and that the Company will have access to the resources and capital required to pursue further advancement of the Knife Lake Project.
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Company → base → Project
Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements.
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plans → look → statements
…and 6 more, not listed.
The Aporia
