VANCOUVER, BC — January 15, 2026 — Leads & Copy — Capella Minerals Ltd. has signed a binding Letter of Intent with Verde Minerals Ltd regarding an Earn-In Agreement on the Solana Iron Oxide Copper-Gold project in southern Spain.
The Solana IOCG project, located 80 km NW of Almeria and 20km E of the Alquife iron mine, spans over 35 km and includes the former Cerro de Gallo and Solana copper-gold deposits and the Conde Xiquena haematite mine.
The project features extensive copper-gold veins within Proterozoic-age meta-sedimentary rocks, with a focus on evaluating buried IOCG-type deposits as the source of these veins. Previous exploration (2010-2013) included magnetic/radiometric surveys, stream sediment sampling, and limited drilling. Geophysical surveys are planned for 2026 to further assess the mineralization.
Capella expects exploration to begin immediately, with drill target definition in early-2026 and drilling in late-2026. John Gray has been appointed Project Manager for Solana.
Capella can acquire an initial 75% interest in the Solana project from Verde’s subsidiary, Cobre y Oro Andaluz, through a staged earn-in agreement. Phase I requires completing the minimum exploration commitment within 12 months to earn 30%. Phase II requires completing minimum exploration expenditure within 24 months to earn 51%. Phase III requires completing minimum exploration expenditure and a Pre-feasibility Study within 72 months to earn 75%.
After Capella earns 75%, Verde can maintain a 25% interest by funding its share of expenditures or dilute to a 2% NSR. Capella will provide a Euro 70,000 environmental bond and pay Verde Euro 115,000 upon signing the LOI, plus annual payments of Euro 50,000.
The LOI is subject to acceptance by the TSX Venture Exchange.
According to Eric Roth, Capella’s President and CEO, the Solana project is a new geological target type for southern Spain with limited historical exploration since the 1920s. He is looking forward to keeping all stakeholders updated as they move forward with exploration at Solana.
Qualified Person: Eric Roth, the Company’s President & CEO.
Karen Davies, VP Communications and Corporate Development, at Tel: +1.604.314.2662 is available for contact.
Source: Capella Minerals Ltd
