Bolt Metals Executes Option to Acquire The High-Grade Floralia Iron Project, Prepares for Maiden Drill Program at Northwind

VANCOUVER, BC / ACCESS Newswire / May 13, 2026 / Bolt Metals Corp. ("Bolt" or the "Company") (CSE:BOLT)(OTCQB:PCRCF)(FSE:646), is pleased to announce, further to the letter of intent dated October 23, 2025, the Company has executed a definitive option agreement dated May 12^th, 2026 (the "Option Agreement") with Max Iron Brazil Ltd. ("Max Iron"), an entity controlled by Max Resource Corp. ("Max") whereby Bolt will have the right to acquire 100% of the Florália High Purity Iron Property (title no. 832.022/2018) (the "Property") located in Minas Gerais, Brazil's largest iron ore and steel-producing state. The Company has also entered into a debt settlement agreement dated May 11^th, 2026 (the "Debt Settlement Agreement") with Max in connection with the establishment, exploration, and development costs relating to the Property.

The Company is also pleased to announce that it has initiated planning for a 5,000-metre maiden drill program at its Northwind project, located in Québec's Abitibi greenstone belt - one of the world's most prolific and well-explored mineral districts. The program is designed to test priority targets identified through earlier-stage work and represents Bolt's first systematic drill test of the property. Results from the program are expected to significantly advance the geological understanding of the project and support resource definition in subsequent phases. Bolt anticipates the program will be conducted during the summer and fall of 2026, with results to be released as they become available.

Floralia Summary

The Florália High-Purity Iron Property is located 67 kilometres east of the capital city of Belo Horizonte, Minas Gerais, Brazil's largest iron ore and steel-producing state. Iron ore remains critical for global infrastructure and steel production. Ongoing urbanization in emerging markets continues to support high-grade iron assets, which offer reliable supply with a lower environmental footprint. Key project highlights include:

• Strategic Location and Logistics: The Property sits adjacent to established infrastructure, rail networks, and major local markets (including Vale, ArcelorMittal, and Avante), ensuring highly efficient logistics and market access¹.

• Strong Exploration Potential: The initial oxide exploration target is estimated at 50 to 70 million tonnes grading 55% to 61% Fe^2,3.

• Favorable Metallurgy: Low-cost dry magnetic testing has yielded impressive results of 59% to 69% Fe, with mass recoveries ranging from 58% to 79%^2,3.

Schreibe Deinen Kommentar