Clarity Metals Corp. (CSE: CMET) announced on 22 September 2026 that it has entered into a mineral claims purchase agreement with BG Copper Corp. to acquire an 80% interest in the Bobcat Project, a copper-porphyry property located in Lemhi County, Idaho. The remaining 20% interest is held by Kluane Capital FZCO and Cloudbreak Discovery PLC, each carrying a 10% carried interest until a positive preliminary feasibility study is completed. The transaction, subject to Canadian Securities Exchange approval and standard closing conditions, is expected to close in September 2026, expanding Clarity's base metals portfolio beyond its flagship Quebec gold asset.

Key Points

  • Clarity Metals Corp. (CSE: CMET | OTC PINK: CLGCF | FSE: 27G0)
  • Clarity has signed a purchase agreement to acquire an 80% interest in the Bobcat Project copper-porphyry property in Lemhi County, Idaho from BG Copper Corp.
  • Consideration comprises 20 million units at an assumed price of $0.05 per unit; each unit includes one common share and one warrant exercisable at $0.10 for five years from closing; shares carry a statutory hold period of four months and one day
  • Investors may be watching for CSE approval and closing confirmation, as well as any future exploration plans for the property

Bobcat Project Location and Historical Copper Drilling Results

The Bobcat Project comprises 50 unpatented lode mining claims covering approximately 418.63 hectares within the Salmon-Challis National Forest, situated 20 kilometres north of Salmon, Idaho. Historical drilling by Cominco American between 1977 and 1981 intersected 100.13 metres grading 0.36% copper from 74.83 metres in drill hole BC-1, including 32.01 metres at 0.57% copper from 134.11 metres. Additional holes returned 44.20 metres at 0.27% copper and 2.44 metres at 1.02% copper within chalcocite mineralisation. The release cautions that past results have not been independently verified by the company's qualified person.

Porphyry System Geology and the Historic Lang Gold Mine

The property hosts a copper-porphyry system associated with an Eocene intrusive complex, with two mineralised centres identified within a district-scale alteration zone. Surface sampling completed in 2019 confirmed widespread porphyry-style alteration and copper mineralisation across the property. The Bobcat Project also includes the Lang Mine, a former underground gold operation developed in the 1930s that reportedly produced approximately 5,000 ounces of gold. A six-metre chip sample from a crosscut returned 1.55 grams per tonne gold; the structure remains untested at depth.

Deal Structure: Units, Warrants, and Joint Venture Pathway

Under the purchase agreement, Clarity will issue 20 million units to BG Copper Corp. at an assumed price of $0.05 per unit, with each unit comprising one common share and one warrant exercisable at $0.10 per share for five years from closing. No finder's fees will be paid in connection with the acquisition. The two carried-interest partners, Kluane Capital FZCO and Cloudbreak Discovery PLC, will retain their respective 10% interests until a positive preliminary feasibility study is completed, at which point the parties intend to form a joint venture to advance the property.