Fokus Mining closes acquisition of Dufay property, Quebec
Fokus Mining Corp. [TSXV: FKM; OTCQB: FKMCF] reported that, further to its news release dated November 28, 2025, and upon the completion or waiver of certain conditions precedent, it has completed the transaction in connection with its previously announced acquisition of a 100% interest in the Dufay Property located along the Cadillac-Larder Lake Fault, Quebec, between the Galloway Project and the Ontario border.
The acquisition was completed pursuant to the previously announced asset purchase agreement entered into among the company, Olympio Metals Limited and local prospectors in respect of the property, as amended by an amending agreement dated March 26, 2026, and as further amended by a second amending agreement dated April 20, 2026, following receipt of all necessary corporate and regulatory approvals.
Under the terms of the Asset Purchase Agreement, the company elected to exercise its option to satisfy the payment of the Deferred Payment (as defined in the Asset Purchase Agreement), by way of a cash payment in the amount of CAD$815,685.96 to the local prospectors, instead of the issuance of the consideration shares (under to the terms and conditions set forth in the second amending agreement dated April 20, 2026.
In addition, under the previously announced termination agreement entered into between the company and Olympio, as amended by an amending agreement dated March 26, 2026 (the Termination Agreement), in connection with the termination of the option agreement dated November 18, 2024, relating to the property, the Company elected to satisfy the payment of the Termination Consideration (as defined in the Termination Agreement) by way of a cash payment in the amount of CAD$684,228.74 to Olympio, net of any applicable withholding tax, instead of the issuance of shares to Olympio under the Termination Agreement.
Olympio and the local prospectors were dealing at arm’s length to the Company within the meaning of applicable securities laws. No finder’s fees or commissions were paid in connection with the acquisition.
The property totals 6,083 hectares across 115 exclusive exploration rights and increases Fokus’ total land package in the region to 15,988 hectares.
Fokus is a mineral resource company focused on the acquisition and exploration of precious metal deposits in Québec’s Abitibi region. Fokus’ flagship Galloway Project is located approximately 20 km west of Rouyn-Noranda, immediately north of the Cadillac-Larder Lake Fault.