Fuse Battery Metals Inc. (TSXV: FUSE) has entered into an option agreement dated November 9, 2026, to earn up to an 80% interest in the Foggy Mountain copper-gold-silver project in north-central British Columbia. The 4,210-hectare property sits in the Toodoggone Mining District, approximately 10 kilometres east of Centerra Gold's Kemess Mine. The move signals a broadening of Fuse's exploration focus beyond its Ontario cobalt assets, adding copper and gold exposure in an established British Columbia mineral belt that investors may be watching closely.

Key Points

  • Fuse Battery Metals Inc. (TSXV: FUSE, OTC: FSBMF, FRA: 43W3)
  • Option agreement signed to earn up to 80% of the Foggy Mountain copper-gold-silver property in British Columbia's Toodoggone Mining District
  • To earn an initial 70% interest, Fuse must pay C$50,000 cash, issue 2,250,000 shares and 1,500,000 warrants, and complete a minimum 3,500-metre drill program within three years; a further C$150,000 payment and a NI 43-101 PEA can unlock an additional 10%
  • Investors will be watching for TSXV acceptance of the agreement and results of planned geological mapping, sampling, and eventual drilling

Foggy Mountain Property Location and Strategic Context for Fuse

The Foggy Mountain property comprises three contiguous mineral claims totalling approximately 4,210 hectares in the Omineca Mining Region, roughly 195 kilometres northeast of Meziadin Junction. Its placement within the Toodoggone Mining District — a region known for porphyry and epithermal mineral systems — provides regional infrastructure context, including road, power, and camp facilities associated with nearby operations. The release notes the property's proximity to Centerra Gold's Kemess Mine, though no infrastructure access or operating arrangements for Foggy Mountain are implied by the announcement. The optionors are Cronin Exploration Inc., David Robinson, and Kyle Hookie.

Historical Sampling Results That Attracted Fuse to the Project

Rock sampling conducted in 2022 returned elevated copper, gold, and silver values at several locations across the property. Highlight individual sample results included 3.52% copper with 14.2 grams per tonne silver, 11.3 grams per tonne gold with 90.5 grams per tonne silver, and 2.33% copper with 8.32 grams per tonne gold and 43.4 grams per tonne silver. The company cautions these are individual surface-sample results and are not necessarily representative of mineralisation across the property. No mineral resource or mineral reserve has been defined for Foggy Mountain. A 2025 airborne magnetic and radiometric survey identified several targets coinciding with anomalous stream-sediment and rock-sample results.

Earn-In Structure and Joint Venture Terms Under the Option Agreement

To secure the initial 70% beneficial interest, Fuse must pay C$50,000 to the optionors, issue 2,250,000 common shares subject to a staggered pooling release, and issue 1,500,000 warrants exercisable at C$0.15 per share for three years. The company must also complete a minimum 3,500-metre drill program by the third anniversary of the agreement. An additional 10% can be earned by delivering a NI 43-101-compliant preliminary economic assessment and paying a further C$150,000. Upon reaching 80%, a formal joint venture would be established. The property also carries a 2% net smelter returns royalty, of which Fuse may purchase half for C$1,500,000 within 30 days of commercial production commencement.