Capella Signs Definitive Agreement with Tümad on Scandinavian Projects
VANCOUVER, BC, Sept. 2, 2025 /CNW/ - Capella Minerals Ltd (TSXV: CMIL) (OTC Pink: CMILF) (FRA: N7D2) ("Capella" or the "Company") is pleased to announce that it has signed a Definitive Agreement with Turkish mining company, Tümad Madencilik Sanayi Ve Ticaret A.S. ("Tümad"), with respect to a staged earn-in proposal for the Company's portfolio of precious and base metal projects in Northern Finland and Norway. The Definitive Agreement contemplates an on-signing cash payment to Capella and mandatory Year 1 work commitments - including the completion of up to 4,000m of drilling on the Northern Finland project and up to 8,000m of drilling on the Norwegian projects for a 30% interest in Capella's holding in the respective project. After the completion of Year 1, Tümad retains the option to either continue investing in exploration (and thereby increasing its interest in the respective project(s)) or reverting to a Net Smelter Royalty (NSR) on projects in each country that it decides not to continue with. Further details of the Tümad earn-in agreement are provided in the Company News Release dated June 2, 2025.
Tümad currently produces approximately 200,000 ounces of gold per annum from two mining operations located in western Türkiye. This strategic partnership with Capella is expected to provide Tümad with an excellent opportunity to expand its international footprint both within the highly-prospective Scandinavian region and elsewhere.
Eric Roth, Capella's President and CEO, commented today: "I am extremely pleased to be announcing today the signing of our Definitive Agreement with Tümad on our Finnish and Norwegian projects. Tümad's technical team are renowned mine builders, operators, and explorers, and will complement our successful track record in global exploration and discovery. Tümad's backing will also be key for Capella to be able to capitalize on the current strong market momentum for both gold and copper projects. I look forward to making this a highly-successful venture for both parties and to keeping markets updated on our progress".
A further update on the work programs to be executed in both Northern Finland and Norway will be provided shortly.
On Behalf of the Board of Capella Minerals Ltd.
"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President & CEO
About Capella Minerals Ltd
Capella is a Canadian exploration and development company with a focus on generating gold-copper projects globally.
Capella announced on September 2, 2025, the signing of a Definitive Agreement with Turkish mining company, Tümad Madencilik Sanayi Ve Ticaret A.S. ("Tümad"), for a staged earn-in on the Company's portfolio of precious and base metal projects in Scandinavia. Projects covered by the Tümad earn-in agreement include the Company's five gold-copper projects in the Central Lapland Greenstone Belt of northern Finland (and part of the Cullen Resources Limited JV), including the priority Killerö E target (a former Anglo American copper-gold project that was never drill tested) and the Saattopora W target (the western extension to Outokumpu Oy's Saattopora former copper-gold mine1), all of which are located about 40km SW of Agnico Eagle's Kittilä Gold Mine1.
Also included in the Tümad earn-in agreement are the Company's 100% interests in the advanced exploration-stage Hessjøgruva and adjacent Kongensgruve copper-cobalt-zinc massive sulfide ("VMS") projects in the northern Røros mining district, Trøndelag province, central Norway.
Capella also retains a carried 10% interest through to production on the Løkken copper-cobalt-zinc VMS project of central Norway through a partnership with Teako Minerals Corp. ("Teako")
Capella also holds equity positions in Teako and Grit Metals Corp. ("Grit"; formerly European Energy Metals Corp), together with Net Smelter Royalties on the Savant Gold Project in Ontario, Canada (BeMetals Corp.) and the Central Finland Lithium Projects (Grit), as a result of the recent divestiture of non-core assets.
For additional information you are cordially invited to visit the Capella Minerals Ltd website at www.capellaminerals.com, or to contact Karen Davies, VP Shareholder Relations and Corporate Development, at Tel: +1.604.314.2662
1 References made to nearby mines and analogous deposits provide context for the Northern Finland project but are not necessarily indicative that these projects host similar tonnages or grades of mineralization. |
Cautionary Notes and Forward-looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of Capella, including the timing, completion of and results from the exploration and drill programs described in this release. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by Capella in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading "Risks and Uncertainties" in Capella's most recently filed MD&A. Capella does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Capella Minerals Limited
Capella Contacts: Eric Roth, Email: [email protected], Karen Davies, +1.604.314.2662
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