Electric Metals (USA) Limited Announces Agreement to Sell Non-Core Nevada Silver Assets

WILMINGTON, DE / ACCESS Newswire / March 13, 2026 / Electric Metals (USA) Limited (TSXV:EML)(OTCQB:EMUSF) (the "Company") a U.S.-based critical minerals and advanced materials company, today announced today announced that it entered into a definitive purchase and sale agreement (the "Agreement") effective as of January 30, 2026 and received the initial purchase payment of US$300,000 from Ameerex Corporation (OTCID:HIRU), an arm's length Georgia, USA-based energy and mineral company ("Ameerex"), pursuant to which the Company has agreed to sell its wholly owned subsidiaries North American Silver Corporation and Centennial Mining, together with their respective assets located in Nye County, Nevada (the "Transaction").

The assets being sold include the Corcoran silver-old and Belmont silver properties, comprising unpatented federal lode mining claims and certain lease purchase options on patented mining claims. The Transaction represents a disposition of non-core assets and is consistent with the Company's strategic focus on advancing its core manganese projects.

The Corcoran Silver-Gold Project is located approximately 92 km (57 mi) by road north-northeast of Tonopah Nevada and is an advanced exploration-stage silver-gold property with a National Instrument 43101 Technical Report. Mineralizaotin occurs near surface, remains open in multiple directions, and the project hosts several identified exploration targets.

The Belmont Silver Project is located approximately 15 km (9 mi) south of Corcoran within the broader Tonopah silver district. The property is a historically significant silver mining area that has seen minimal modern exploration, offering prospective ground for systematic evaluation using contemporary exploration techniques.

Transaction Terms

Under the terms of the Agreement, Ameerex has agreed to acquire 100% of the issued and outstanding shares of North American Silver Corporation and Centennial Mining for total consideration of US$3.5 million, payable in staged cash payments as follows:

• US $300,000 upon execution of the Agreement (received);

• US $1.1 million payable 90 days after execution; and

• US $2.1 million payable 180 days after execution.

The Company will retain a 2.5% net smelter return ("NSR") royalty on production from each of the Corcoran and Belmont properties, subject to a 3.0% total royalty cap inclusive of existing third-party royalties. Ameerex has the right to repurchase the combined NSR royalties for US$500,000 on or before the final purchase payment, or thereafter at US$1,000,000 per each 0.5% royalty interest.