NeoTerrex signs definitive option for Québec Reservoir project
The agreement gives the company a staged path to earn up to 100% of a copper-gold-silver-tungsten project in James Bay; ownership has not yet transferred.
Event / data period:
Published: · Updated:
NeoTerrex Minerals disclosed on October 9 that it had signed a definitive option agreement dated October 6. Under the deal with Eastmain Resources, a subsidiary of Fury Gold Mines, NeoTerrex may earn up to a 100% interest in the Reservoir project, which covers 116 mineral claims and about 6,090 hectares in Québec’s Eeyou Istchee (James Bay) region. The earn-in requires total cash payments of C$500,000 and C$3 million in exploration spending through the end of 2030.
The staged schedule provides for 50% ownership after the requirements through 2028, 75% by 2029 and 100% by 2030. Fury would retain a 2% net-smelter-return royalty; NeoTerrex may buy half of that royalty, or 1%, for C$1 million before commercial production. Historical drilling and channel-sample results cited by the company are unverified historical information; the agreement does not establish a mineral resource.
Data
Staged earn-in terms for the Reservoir option
- · Occurred
Staged earn-in terms for the Reservoir option
The source presents the option terms as future obligations; cited historical technical results are unverified.
Methodology
The event is the definitive option signed October 6 and announced October 9. Earn-in is staged and conditional; historical assay data are not results of the present agreement.
Updated:
Source indicators
- Mineral claims in the Reservoir project
- 116 count
- 2026-10-09 · Observed
- Reservoir project area
- ≈6,090 hectares
- 2026-10-09 · Observed
Methodology
The event is the definitive option signed October 6 and announced October 9. Earn-in is staged and conditional; historical assay data are not results of the present agreement. Numeric periods denote the announcement date; Canada identifies the company or project scope, not a national total.
Updated:
Subjects and places
Subject proposals
- Business enterpriseSuggested
- Preserved editorial category/topic; broad candidate onlywww.newsfilecorp.com ↗
- Water supplySuggested
- Subject suggested from the title or summary: Reservoirwww.newsfilecorp.com ↗
Geographic references
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- Canada · Place role: Coverage · Place type: Country or area · Location precision: RegionalEvidence
- Explicit preserved editorial country/region; no city or national centroid inferredwww.newsfilecorp.com ↗