# 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.

- Canonical URL: https://newsverum.com/en/news/neoterrex-definitive-option-reservoir-quebec-polymetallic-project-2026
- Publisher: Newsverum
- Section: Business
- Country: Canada
- Published: 2026-10-11T17:18:42+00:00
- Updated: 2026-10-11T17:18:42+00:00
- Event / data period: 2026-10-06
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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

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.

| date | label | description | status |
|---|---|---|---|
| 2026-10-06 | Staged earn-in terms for the Reservoir option | The source presents the option terms as future obligations; cited historical technical results are unverified. | occurred |

Sources: <https://www.newsfilecorp.com/release/318159> · Download data: [JSON](https://newsverum.com/api/v1/articles/neoterrex-definitive-option-reservoir-quebec-polymetallic-project-2026/data/reported-event?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/neoterrex-definitive-option-reservoir-quebec-polymetallic-project-2026/data/reported-event?lang=en&format=csv)

### Source indicators

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.

| label | value | unit | period | basis | value_qualifier |
|---|---|---|---|---|---|
| Mineral claims in the Reservoir project | 116 | count | 2026-10-09 | observed | exact |
| Reservoir project area | 6090 | hectares | 2026-10-09 | observed | approximate |

Sources: <https://www.newsfilecorp.com/release/318159> · Download data: [JSON](https://newsverum.com/api/v1/articles/neoterrex-definitive-option-reservoir-quebec-polymetallic-project-2026/data/typed-source-figures?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/neoterrex-definitive-option-reservoir-quebec-polymetallic-project-2026/data/typed-source-figures?lang=en&format=csv)

## Sources

- [NeoTerrex Minerals Inc. via TMX Newsfile](<https://www.newsfilecorp.com/release/318159>) (Source checked: 2026-10-11; Published: 2026-10-09)

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