Adelayde Exploration Closes Acquisition of the Sisson NW Tungsten Project in New Brunswick
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October 23, 2025 5:10 PM EDT | Source: Adelayde Exploration Inc.
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2025) - Adelayde Exploration Inc. (CSE: ADDY) (OTCID: SPMTF) (WKN: A41AGV) (the "Company" or "Adelayde") is pleased to announce, further to its news release on October 14, 2025, the closing of an option agreement with two arm's length vendors (the "Vendors") to acquire the Sisson NW Tungsten Project (the "Property") comprised of 89 claims consisting of approximately 4,890 contiguous acres prospective for tungsten in New Brunswick directly bordering Northcliff Resources Ltd.'s Sisson Tungsten Mine. On August 7, 2025, Northcliff Resources Ltd. announced they secured approximately $29 million CAD in combined funding from the U.S. Department of Defense and the Canadian Government to advance their project. Management cautions that past results or discoveries on properties in proximity to Adelayde may not necessarily be indicative to the presence of mineralization on the Company's properties.
James Nelson, President of Adelayde, stated, "We are excited to now have a significant footprint of 9,780 acres prospective for tungsten at a time when critical metals are receiving increased attention due to recent escalating trade tensions between the USA and China, according to a Reuters report(1). Tungsten and antimony both face tight global supply because China dominates their mining and refining—producing roughly 80-90% of each—while demand continues to rise for use in electronics, defense, and energy technologies. As Western nations seek to secure alternative sources, supply risks and strategic stockpiling are driving higher prices. Adelayde will begin to formulate initial work plans for the Sisson Tungsten and George Lake South Antimony projects, as well as proceeding with the maiden drill program on the Esmeralda County gold project in Nevada in 2025. The Company will be very active for the remainder of 2025 and beyond."
Pursuant to the terms of the option agreement, the Company shall have the exclusive right and option to earn a 100% interest in the Property from the Vendors in consideration for the issuance of a total of 6,000,000 common shares (subject to a four-month hold period) at a deemed price of $0.11 per share and by making cash payment in the amount of $5,000 as set out below:
(a) To pay $5,000 and issue 4,500,000 common shares in the capital of the Company to the Vendors within seven (7) business days of signing the option agreement; and
(b) To issue 1,500,000 common shares in the capital of the Company to the Vendors after the Company has incurred a minimum of $200,000 in exploration expenditures on the Property within eighteen (18) months of signing the option agreement.
Qualified person for mining disclosure:
The technical contents of this release were reviewed and approved by Frank Bain, PGeo, a director of the company and qualified person as defined by National Instrument 43-101.
About Adelayde Exploration Inc.
Adelayde's projects include three lithium projects in Clayton Valley, Nevada: the 1,136-acre McGee lithium clay deposit, which has a resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, directly bordering Pure Energy Minerals and Century Lithium Corp.; the 280-acre Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; and the 124-acre Green Clay lithium project. The Company also holds the 248-acre Clayton Ridge gold project in Esmeralda County, Nevada; the 4,722-acre George Lake South antimony project, the 4,890-acre Sisson North tungsten project, and the 4,890-acre Sisson NW tungsten project all located in New Brunswick. Management cautions that past results or discoveries on properties in proximity to Adelayde may not necessarily be indicative to the presence of mineralization on the Company's properties.
If you would like to be added to Adelayde's news distribution list, please send your email address to info@adelaydeexp.com.
Adelayde Exploration Inc.
"James Nelson"
James Nelson
President, Chief Executive Officer and Director
For more information regarding this news release, please contact:
Adelayde Exploration Inc.
James Nelson, President, CEO and Director
T: 604-646-6903
E: info@adelaydeexp.com
W: www.adelaydeexp.com
The CSE has neither approved nor disapproved of the contents of this press release.
Forward-Looking Statements
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties such as the proposed use of proceeds from the Financing. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Adelayde. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Adelayde disclaims any intention or obligation to update or revise such information, except as required by applicable law.
https://www.reuters.com/world/china/china-tightens-rare-earth-export-controls-2025-10-09/ (1).
 SOURCE: Adelayde Exploration Inc. |
