Vancouver, British Columbia — September 8, 2026 — Leads & Copy — Krait Critical Minerals Corp. (CSE: KRIT) has announced a significant step in its strategy to expand its mineral portfolio by entering into a definitive agreement to acquire Nevada Hills Antimony LLC. Nevada Hills holds rights to the Bales Antimony Project and other mineral claims in Okanogan County, Washington. This acquisition follows an earlier exclusivity and standstill agreement between Krait and Nevada Hills. Additionally, Krait has arranged a non-brokered private placement financing aimed at raising up to $1,500,000 through the issuance of up to 2,000,000 common shares at $0.75 per share, with no warrants included.
The acquisition is expected to provide Krait with immediate exposure to multiple antimony development targets within a past-producing district. Historical reports indicate promising assay results, including a discovery-post sample of vein material assaying 10.9% antimony and historically mined and sorted material averaging 14.4% antimony over 37.82 tons. The company highlighted that this financing structure is designed to be minimally dilutive, supporting both the acquisition and future opportunities.
Oscar Mendoza, CEO and Director of Krait, stated that the execution of the definitive agreement is a crucial move to incorporate U.S.-based antimony opportunities into Krait’s holdings. He noted that the Bales Project has historical documentation of stibnite mineralization and previous exploration and underground development work. Mendoza believes that the combination of acquiring the project and securing additional capital will position Krait to advance its Goldbar Spider Lake Project while concurrently evaluating the potential of the newly acquired antimony projects using modern exploration techniques.
The Bales Antimony Project is situated approximately two miles northeast of Carlton in the Methow Valley of Okanogan County, Washington. Under the terms of the Bales Mineral Property Purchase Agreement (MPPA), Nevada Hills has the right to acquire Nevada Hills’ interest in eight claims. Nevada Hills also owns nine contiguous mineral claims, bringing the total to 17 claims covering approximately 310 acres. Krait has not independently verified the reported geology, mineralization, or historical work, and acknowledges that available records are not fully complete or consistent regarding the extent and timing of past activities.
Historical records suggest stibnite and stibiconite mineralization within shear zones. Past work has included surface trenching and underground workings. Krait emphasizes that the disclosed historical results, including a 10.9% antimony sample and 37.82 tons of sorted material assaying 14.4% antimony, have not been independently verified and should not be considered current exploration results, mineral resources, or evidence of economic viability. The company has not defined any current mineral resources or reserves for the Bales Antimony Project or the Antimony Bell Project.
The Antimony Bell Project is located south of Bales, and Krait is currently reviewing its geological, title, and contractual information as a separate opportunity. Nevada LLC has also presented additional mineral opportunities to Krait that are currently in the evaluation or negotiation stages. Krait will only consider these acquired projects upon completion of due diligence, definitive documentation, necessary approvals, and transaction closing.
Under the Definitive Agreement, Krait will issue 2,500,000 Shares at a deemed price of $0.87 per share and make a cash payment of US$100,000 to the members of Nevada LLC. A prior non-refundable exclusivity fee of US$25,000 paid under the Exclusivity Agreement will be credited towards the total cash consideration. Upon closing, Krait will acquire Nevada LLC and its assets, including its rights and obligations under the Bales MPPA, nine additional mineral claims near the Bales Antimony Project, and the four mineral claims comprising the Antimony Bell Project. The closing of the acquisition is subject to customary conditions, including regulatory approvals and the satisfactory completion of Krait’s due diligence.
The private placement offering, with gross proceeds of up to $1,500,000, will be used for exploration expenditures, including phase-one exploration at the Goldbar Spider Lake Project, reconnaissance, mapping, and sampling at the Bales Antimony Project and Antimony Bell Project, general and administrative expenses, marketing costs, property investigation costs, and general working capital. The company has also engaged Interactive Offers LLC for a two-week period to enhance investor and market awareness for a payment of US$20,000.
The scientific and technical information in this release was reviewed by J. Garry Clark, P.Geo., a director of Krait and a Qualified Person. Mr. Clark has not personally inspected the projects or independently verified the historical sampling and assay data. The company’s strategy involves disciplined project evaluation, modern exploration technologies, and responsible field programs to identify and advance exploration opportunities. Krait’s flagship asset remains the Goldbar Spider Lake Project in Ontario.
Source: Krait Critical Minerals Corp.
