Live Energy Minerals Corp. (CSE: LIVE) has announced it has entered into an option agreement dated October 15, 2026, to acquire a 100% interest in two mineral claims comprising 73 units near Plaster Rock, New Brunswick. The Plaster Rock Property hosts historical sediment-hosted uranium-copper mineralization that has never been drilled, making it a potentially significant exploration target. The deal is structured entirely through share issuances, with no cash payments required, which investors may note preserves the company's working capital.

Key Points

  • Live Energy Minerals Corp. (CSE: LIVE, OTC: GTREF) announced the option agreement on October 20, 2026
  • The company may acquire 100% of two mineral claims totalling 73 units approximately 8 km north-northwest of Plaster Rock, Victoria County, New Brunswick
  • Option consideration is 4,000,000 common shares issued across three tranches over two years; no cash payments required; a 2% net smelter returns royalty is retained by the optionor, with a buyback option for 1% at $500,000
  • Investors may watch for CSE regulatory approval of the first share tranche and any planned exploration activity on the undrilled property

Plaster Rock Property: Historical Uranium-Copper Values and Exploration Upside

The Plaster Rock Property covers sediment-hosted uranium-copper mineralization in Carboniferous red-bed sandstones and mudstones. Historical sampling recorded in the New Brunswick mineral occurrence database returned values of up to 2.87% U₃O₈ and 8.32% Cu from a mineralized nodule. More recent sampling by a previous operator in 2009 returned grab samples of up to 1.46% U₃O₈ and 6.19% Cu. The company notes that, to its knowledge, the Property has never been drilled and remains underexplored. The release cautions that these results are historical and have not been independently verified; grab and nodule samples are selective and may not be representative of broader mineralization.

Share-Based Option Structure and Royalty Terms

Under the Option Agreement, Live Energy Minerals must issue 4,000,000 common shares in three tranches to earn its 100% interest. The first tranche of 120,000 shares is due within 10 days of the approval date, priced at a deemed $0.20 per share — the closing price on October 15, 2026. A further 1,000,000 shares are due on the first anniversary, and 2,880,000 shares on the second anniversary, each priced at the closing price of the last trading day before issuance. There are no cash option payments and no minimum exploration expenditure requirements. Upon exercise, the optionor retains a 2% net smelter returns royalty, half of which may be repurchased for $500,000.

Qualified Person Sign-Off and LIVE's Broader North American Portfolio

Adrian Smith, P.Geo., director and Chief Executive Officer of Live Energy Minerals, is the designated qualified person under NI 43-101 and has reviewed and approved the scientific and technical content of the announcement. Beyond New Brunswick, the company holds uranium claims at the Mesa Top Mine and Section 20 in McKinley County, New Mexico, and retains a net smelter returns royalty on its McDermitt Lithium East Project in Nevada, which is under option to US Critical Metals Corp. The immediate share price impact of this announcement was not clear from available public information.