Vancouver, British Columbia--(Newsfile Corp. - June 12, 2026) - Vatic Ventures Corp.  (TSXV: VCV) (FSE: V8V) (OTC Pink: VCVVF) (the " Company " or " Vatic ") is pleased to announce that, further to the Company's news release dated April 14, 2026, the TSX Venture Exchange ("TSXV") has conditionally accepted the Company's previously announced acquisition of certain assets from Velvet Clean Energy Corp. (the "Transaction"). The Transaction was originally announced by news release by the Company on April 29th, 2025 but the proposed consolidation of the Company's shares referred to therein will not be proceeding. Resumption of trading of the Company's shares on the TSX Venture Exchange is expected to take place on June 16, 2026.
The Transaction constitutes a Fundamental Acquisition pursuant to Policy 5.3 and remains subject to acceptance of the TSX Venture Exchange. Pursuant to an agreement dated June 13, 2025 between the Company and Velvet Clean Energy Corp. ("Velvet"), an arm's length private company, as amended by agreement dated April 2, 2026 (collectively the "Vatic/Velvet Agreement") the Company has the right to acquire Velvet's rights to earn interests in two uranium properties in Namibia. Velvet has, pursuant to an amended and restated option agreement dated February 1, 2026 between Velvet and Zoya Minerals CC ("Zoya") (the "Amended and Restated Zoya Option Agreement") the right to acquire from Zoya up to a 90% interest in a highly prospective uranium property in Namibia termed EPL 8289 ("EPL 8289" or the "ZOYA Property") covering 44.62 km 2 .
Velvet also has, pursuant to a binding letter of intent between Velvet and Galore Trading CC ("Galore") dated April 27, 2025 as amended July 2, 2025 (the "Galore Option Agreement") the right to acquire from Galore up to a 90% interest in another prospective uranium license designated EPL 8735 ("EPL 8735" or the "GALORE Property") measuring 87.65 km 2 both located in prime Namibian uranium province of Erongo and within the known Alaskite Alley. Pursuant to the Vatic/Velvet Agreement the Company will issue 7,500,000 shares (the "Consideration Shares") at a deemed price of $0.025 per Consideration Share pro rata to the shareholders of Velvet in exchange for Velvet assigning to Vatic its rights under the Amended and Restated Zoya Option Agreement and the Galore Option Agreement. The Consideration Shares will be subject to a hold period expiring four months and one day from the date of issuance and will be subject to a standard TSXV three year escrow agreement resulting in 10% of the Consideration Shares becoming released from escrow immediately and then 15% of such shares being released every six months thereafter.
ABOUT THE PROPERTIES The ZOYA Property and the GALORE Property (collectively the "Properties") are located less than 50km by road from the town of Swakopmund on the Atlantic coast, are accessible via paved and good gravel roads and have access to infrastructure including power from the Nampower grid available throughout the area, water from Areva's (Orano) desalination plan, access to class 7 shipping Port of Walvis Bay and Walvis Bay international airport located less than 150 km by road from the Properties. The Properties are situated in the highly established uranium mining jurisdiction of Namibia. Namibia is the world's 4th largest producer of uranium, responsible for ~6% of global uranium output.
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The Properties are located in the "Namibian Erongo Uranium Province" stretching between the towns of Usakos and Swakopmund, and from south of the Brandberg to just south of Walvis Bay, the main port in Namibia. Over the last 48 years the Erongo Region of Namibia has produced in excess of 350Mlb of U3O8. The Properties sit within the "Alaskite Alley" a geological corridor where mostly uraniferous D3-type sheeted leucogranites are found at the contact between the Khan and Rössing formations.
The two EPLs are located adjacent and nearby to two actively producing uranium mines, Rössing and Husab. Rössing, formerly owned by Rio Tinto, was sold to China National Uranium Corporation Limited (CNUC), a subsidiary of China National Nuclear Corporation (CNNC) in July 2019. Rössing is an open pit mine and is hosted by an Alaskite body where mineralization consists of uranium bearing minerals in the form of microscopic crystals of uraninite and visible crystals of beta-uranophane.
The mine began operations in 1976 and was on full-scale uranium oxide production at an average of 4,500tpy by 1979. Rössing has consistently produced uranium in the last 48 years and in 2023 delivered 2,920 tonnes of U3O8. Husab, initially called Rössing South, was discovered by Extract Resources Limited, an Australian company, in 2008, is the highest grade Alaskite deposit in the world, hosted in the same geological sequence as the Rössing mine.
Probable Reserves in 2011 were 205Mt @497ppm at Zone 1 and at Zone 2 (National Instrument 43-101 Technical Report, Husab Uranium Project - May 2011 Project Update, Prepared by Coffey Mining Pty Ltd on behalf of: Extract Resources Limited, Effective Date: 20th May 2011). Production started at the end of 2016 and was ramped up to 5500t U3O8/year by 2020. The mine and surrounding exploration licence are majority owned and operated by China General Nuclear Power Group (CGN).
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of commercial mineralization hosted on the Properties. Figure 2: Map showing EPL 8289 and EPL 8735 within the Alaskite Alley on uranium channel airborne radiometric data (200 m line spacing and 80 m flight height) acquired from the Geological Survey of Namibia. Note the setting of the EPLs in vicinity to the Rossing and Husab uranium mines.
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3972/301266_49a353fc94b68871_001full.jpg References: Inwood. N. et al. 2011. NI43-101 Technical Report on the Husab Project completed for Extract Resources Ltd. CEO Loren Currie stated: "These uranium exploration assets are contiguous and on strike with some of the largest uranium mines in the world, Husab the 3 rd and Rossing the 7 th largest uranium deposit worldwide, and it also helps to be situated in one of the top mining jurisdictions in Africa, with a tremendous record of uranium production.
The gap between uranium supply and demand has been persisting on the market and is predicted to widen even more because of the degradation of the uranium supply industry over a decade of prolonged low prices and with many more governments turning to nuclear power for secure clean baseload power. We foresee huge challenges to meet new demand in the medium to long term which will drive uranium prices up and render uranium resources such as those that we hope to discover on EPL 8289 and EPL 8735 significantly valuable." TERMS OF THE UNDERLYING OPTION AGREEMENTS Zoya Property Option Terms: Vatic has acquired, pursuant to the Amended and Restated Zoya Option Agreement, the right to acquire an initial 80% interest in the Zoya Property (the "Initial Zoya Option") by making cash payments totaling US$1,100,000 over a two year period, causing the issuance to Zoya of US$400,000 of shares of Vatic over the same time period and completing exploration expenditures of US$2 million by February 1, 2030 or US$1.5 million by February 1, 2029 (the "Required Exploration Expenditures") under the following terms: pay to Zoya US$25,000 as a deposit payment (which has been paid); pay to ZOYA US$150,000 within 30 days of the TSXV approving the Amended and Restated Zoya Option Agreement; pay to ZOYA the first payment (the "First Payment") of US$350,000 six (6) months following the payment indicated under 5.1(b); pay to ZOYA a further second payment (the "Second Payment") of US$350,000 six (6) months following the payment indicated under 5.1(c); pay to ZOYA a further third payment (the "Third Payment") of US$150,000 six (6) months following the payment indicated under 5.1 (d); pay to ZOYA a final fourth Payment (the "Fourth Payment") payment of US$75,000 six (6) months following the payment indicated under 5.1 (e), subject to the exploration licenses having been renewed and provided that Vatic has expended the necessary funds to undertake drilling and sampling operations within the EPL and submitted the necessary reports with the Ministry of Mines and Energy; and cause to be issued to ZOYA in addition to the payments referred to in 5.1 a), b), c), d), e), and f) US$400,000 (four hundred thousand US dollars) worth of Vatic shares (the tranches of shares referred to in (i),(ii) and (iii) below may be subject to a TSXV imposed three year escrow release on the basis of 10% initial release on closing of the aggregate number of shares and then 15% every six months thereafter) in accordance with the following schedule: US$50,000 worth of Vatic shares along with the payment under 5.1(b); US$150,000 worth of Vatic shares along with the First Payment mentioned in 5.1 c); US$150,000 worth of Vatic shares along with the Second Payment mentioned in 5.1 d); and US$50,000 worth of Vatic shares along with the Fourth Payment mentioned in 5.1 f). Provided Vatic exercises the Initial Zoya Option it shall have the right to earn an additional 10% interest in the Zoya Property (the "Second Zoya Option") to bring its interest to a 90% interest in the Zoya Property by expending such addition expenditures necessary to produce a feasibility study for the Zoya Property and pay to ZOYA the following: US$8 million if the feasibility study confirms a deposit with an economic assessment demonstrating an NPV discounted at 10% of US$150 million or less; or US$20 million if the feasibility study confirms a deposit with an economic assessment demonstrating an NPV discounted at 10% of greater than US$150 million.
Upon Vatic exercising the Initial Zoya Option but failing to exercise the Second Zoya Option Vatic and Zoya will enter into a joint venture relationship with Vatic having an 80% joint venture interest and ZOYA having a 20% joint venture interest or in the event that Vatic exercises the Second Zoya Option the parties will enter into a joint venture agreement with Vatic having a 90% joint venture interest and ZOYA having a 10 % joint venture interest. Vatic shall, as the case may be, have a right of first refusal to purchase the residual 20% interest or the 10% residual interest held by Zoya. The maximum number of shares issuable by the Company under the Amended and Restated Option Agreement to acquire its interest in the Zoya Property is 10,800,000 shares issued at a deemed price of $0.05 per share at a $US/Cdn. dollar exchange rate of 1.35.
Galore Property Option Terms: Vatic has acquired, pursuant to the Galore Option Agreement, the right to acquire an initial 80% interest in the Galore Property (the "Initial Galore Option") under the following terms: pay to GALORE a US$25,000 deposit (the "Deposit Payment") upon receipt of TSXV approval of the Vatic/Velvet Agreement; pay to GALORE the first cash payment of US$100,000.00 by July 1, 2026; pay to GALORE a second cash payment of US$75,000 by July 1, 2027; make share payments to GALORE worth US$150,000 in total subject to confirmation of EPL 8735 renewal on the basis of the following tranches: issue to GALORE a first tranche of shares worth US$75,000 on July 1 st , 2026; and issue to GALORE a second tranche of shares worth US$75,000 12 months following first tranche of shares. Provided Vatic exercises the Initial Galore Option it shall have the right to earn an additional 10% interest in the Galore Property (the "Second Galore Option") to bring its interest to a 90% interest in the Galore Property by expending sufficient expenditures to produce a feasibility study and paying to Galore: a) US$7 million if the feasibility study confirms a deposit with proven reserves measuring 100Mt@400ppm (one hundred million metric tons and grading on average four hundred parts per million) or b) a price to be negotiated with GALOR in the event that the proven reserves of a deposit demonstrate a size and grade greater than 100Mt@400ppm. The maximum number of shares issuable by the Company under the Galore Option Agreement to acquire its interest in the Galore Property is 4,050,000 shares issued at a deemed price of $0.05 per share at a $US/Cdn. dollar exchange rate of 1.35.
Upon Vatic exercising the Initial Galore Option but failing to exercise the Second Galore Option Vatic and Galore will enter into a joint venture relationship with Vatic having an 80% joint venture interest and Galore having a 20% joint venture interest or in the event that Vatic exercises the Second Galore Option the parties will enter into a joint venture agreement with Vatic having a 90% joint venture interest and Galore having a 10 % joint venture interest. Vatic shall, as the case may be, have a right of first refusal to purchase the residual 20% interest or the 10% residual interest held by Galore. QUALIFIED PERSON Nico Scholtz is an independent consulting geologist and has reviewed and approved the scientific and technical information in this news release.
Mr. Scholtz is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat.
No. 400299/07). Mr. Scholtz is the Company's "Qualified Person" as defined by NI 43-101. Management believes the Zoya and Galore acquisitions represents a significant milestone for the Company and strengthens its position as a mineral exploration and development company expanding the commodities that it has exposure to Loren Currie, President and Chief Executive Officer of the Company, stated: "We are pleased to have completed the TSXV review process and received final acceptance of the Transaction.
The acquisition of the option to acquire a majority interest in the Zoya property and the Galore property significantly enhances the Company's asset portfolio and provides shareholders with exposure to what management believes is an attractive exploration and development opportunity." ABOUT VATIC VENTURES CORP. Vatic is a mineral exploration and development company focused on developing high-value properties. In addition to its option to acquire an interest in the Zoya and Galore properties Vatic has an option to acquire a 100% interest in the Solonópole South Lithium Property in Brazil and an option agreement to acquire a 100% interest in the Hansen Gold project in Quebec. ON BEHALF OF THE BOARD OF DIRECTORS OF VATIC VENTURES CORP. "Loren Currie" Loren Currie CEO & Director info@vaticventures.com 604-757-9792 Website: www.vaticventures.com "Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation.
Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements.
These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.   To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301266 Newsfile Corp. June 12, 2026 - 5:45 AM PDT News by QuoteMedia www.quotemedia.com
