Vancouver, British Columbia — January 5, 2026 — Leads & Copy — Teako Minerals Corp. has entered into a Definitive Acquisition Agreement with Nordic Minerals AS, a wholly owned Norwegian subsidiary of United Minerals Australia Pty Ltd, to sell a 90% interest in five Norwegian copper, zinc, gold and silver projects. The projects include Mykkelvika, Heimdalhaugen, Sivilvangen, Klasberget, and Hellemyr.
Teako will receive NOK 1,450,000 (approximately C$200,000) and an additional payment of NOK 2,700,000 (approximately C$370,000) if the projects collectively achieve an aggregate mineral resource of at least 10 million tonnes reported in accordance with JORC standards.
Teako will retain a non-dilutive 10% free carried ownership interest in the projects through the final investment decision for mine construction and establishment of a Joint Venture. Teako will not be responsible for any costs of establishing the JV or financing the Projects until commercial production has commenced. After the commencement of commercial production, all Joint Venture interest holders will participate in the costs and distributions of the Joint Venture pro rata.
Nordic will incur a minimum of C$700,000 in exploration expenditures in aggregate across the Projects within the first 24 months and use commercially reasonable efforts to incur aggregate exploration expenditures of C$5,000,000 over a 60-month period across the Projects.
Sven Gollan, CEO of Teako Minerals, said the team behind United Minerals has extensive experience in financing and developing mineral projects, which will make a significant contribution to the revitalization of historic mining regions in Norway.
The Board of United Minerals said the partnership with Teako marks an important step in advancing a portfolio of projects supported by extensive historical mining and exploration data. They believe the projects can be progressed responsibly and efficiently. Their approach is grounded in strong environmental stewardship, regulatory compliance, and constructive engagement with local stakeholders. They see a significant opportunity to develop the underlying mineral potential and to identify feasible and sustainable solutions for the treatment and remediation of historical tailings.
Under the terms of the Agreement, Teako will receive a NOK 1,450,000 (approximately C$200,000) within 5 business days of the date of the Agreement. An additional payment of NOK 2,700,000 (approximately C$370,000) shall be payable upon the Projects collectively achieving an aggregate mineral resource of at least 10 million tonnes of ore reported in accordance with JORC standards.
Teako will retain a non-dilutive 10% free carried ownership interest in the Projects until final investment decision. If at any time Nordic determines to make a FID on the Projects or a Project to commence commercial production, the parties shall form a joint venture pursuant to a definitive joint venture agreement. Upon FID, Nordic will secure funding for bringing the Projects or the Project into production, and Teako shall not be responsible for any costs of establishing the JV or financing the Projects until commercial production has commenced.
The Agreement also provides Teako with certain anti-dilution protections so that any financing of the JV will not impact Teako’s Free Carry to the point of commercial production. After the commencement of commercial production, all Joint Venture interest holders will participate in the costs and distributions of the Joint Venture pro rata. Dividends or distributions will start to be distributed to the parties after any financing loans made to the JV are paid off from the revenues from the production. Teako shall have no parent obligations for repayment in the event the mine is closed prior to final repayment of any such loan(s).
Additionally Nordic has agreed to incur a minimum of C$700,000 in exploration expenditures in aggregate across the Projects within the first 24 months of the Agreement. If there is any shortfall of the Initial Exploration Expenditures at the end of the 24-month period, Nordic will pay the difference to Teako as a credit to be used for future geological services at standard market rates.
Nordic shall also use its commercially reasonable efforts to achieve total aggregate exploration expenditures of C$5,000,000 across the Projects within a 60-month period of the Agreement. Any potential future transfer or sale of Nordic’s interest in the Projects is subject to the transferee assuming the balance of the expenditures. Teako also retains certain timely disclosure rights with respect to the Projects.
The Mykkelvika Project measures 126 km² in size and is located in the Namsskogan and Røyrvik municipalities in northern Trøndelag. The main highway (E6) runs parallel to the western side of the Project, and the Project is located 83 km northeast of the nearest airport in the city of Namsos.
The Heimdalhaugen Project measures 60 km² in size and presents combined potential for Cu-Zn VMS systems and Cu-Mo porphyry mineralization and comprises seven claims located in the Grong district of northern Trøndelag.
The Sivilvangen Project comprises six claims covering a total area of 60 km² in eastern Trøndelag. The Project is located approximately 15 km from the town of Tynset and benefits from well-developed infrastructure. The railway line to the deep-sea ports in the Trondheim area runs along the southeastern Project boundary.
The Klasberget Project comprises a single claim measuring 10 km² in size in eastern Trøndelag, located immediately adjacent to the Storwartz-Olavsgruva ore fields, approximately 10 km northeast of the mining town of Røros.
The Hellemyr Project comprises four contiguous claims, measures 33 km² in size and is located adjacent to the Kongsberg silver mining district in southeastern Norway.
United Minerals Australia is a private Australian-based mining investment, exploration, and operations company established in 2019.
Eric Roth, a Non-Executive Director of Teako and Qualified Person under NI 43- 101, reviewed and approved the technical information presented in this news release.
Teako Minerals Corp. is a Vancouver-based mineral exploration company committed to acquiring, exploring, and developing mineral properties in Norway, focusing on critical metals such as copper, cobalt, zinc and molybdenum.
Contact Information:
Sven Gollan – CEO
T: +1 (604)-871-4301
Email: sven.gollan@teakominerals.com
Source: Teako Minerals Corp.
