Electric Metals Ends Altair Agreement, Seeks Nevada Partners, and Grants Deferred Share Units

Electric Metals (USA) Limited (EML) has terminated its acquisition agreement with Altair Resources Inc. Originally signed in 2023, the arrangement allowed Altair to earn interest in EML's Nevada silver projects. The termination agreement, effective July 25, 2025, involved no penalties for either party. EML is now exploring strategic partnerships for its Nevada-based silver and gold assets.

The company's Nevada projects, located in the Toquima caldera complex, present substantial mineralization potential. EML aims to attract partners interested in these assets following the agreement's end. CEO Brian Savage reiterated the commitment to enhance these projects for shareholder benefit while focusing on EML's primary manganese deposit in Minnesota.

Additionally, EML has issued nearly 3.94 million Deferred Share Units to its board, aligning their interests with shareholders. These units replace traditional cash-based fees, reflecting EML's commitment to shareholder value.