US Critical Metals Corp. (TSXV:USCM) entered into a share purchase agreement to acquire 45% stake in 1212242 B.C. Ltd. from Idaho Silver Inc for CAD 0.4 million on November 16, 2022. Under the terms of the Agreement, the USCM will purchase in aggregate 70% of the issued and outstanding shares of B.C. Ltd. from Idaho Silver. In consideration for 45% of the issued and outstanding shares of B.C. Ltd., USCM will make a payment of CAD 50,000 in cash to Idaho Silver and issue 1,000,000 common shares (the “Consideration Shares”) to Idaho Silver at a deemed price of $0.35 per Consideration Share and in consideration for 25% of the issued and outstanding shares of B.C. Ltd., USCM will subscribe for 8,000 common shares for aggregate proceeds of CAD 200,000. At Closing, Long Canyon Resources will also enter into a net smelter return royalty agreement (“NSR Royalty Agreement”) with Idaho Silver, which grants Idaho Silver a perpetual three and one-half percent (3.5%) royalty (the “NSR Royalty”) relating to all production from the Long Canyon Property. The NSR Royalty is subject to a buyback right in favor of B.C. Ltd. pursuant to which B.C. Ltd. may repurchase up to 2% (in whole or part) of the NSR Royalty for a price equal to CAD 2 million (CAD 1 million for each 1% instalment). The Consideration Shares will be subject to a statutory hold period under applicable Canadian securities laws which will expire four months and one day after issuance. Upon closing of the Transaction, B.C. Ltd. will be the sole owner and shareholder of Long Canyon Resources Inc. (“Long Canyon Resources”), an Idaho corporation, which will be the holder of the Long Canyon Uranium and Vanadium Project (“Long Canyon” or the “Project”). The Transaction is at arms-length and expected to be an expedited transaction pursuant to TSX Venture Exchange (“TSXV”) Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets. Closing of the Transaction (“Closing”) is subject to receipt of applicable regulatory approvals and third-party consents, including the approval of the TSXV and closing conditions customary for transactions of this nature, on or before January 31, 2023.

US Critical Metals Corp. (TSXV:USCM) acquired 45% stake in 1212242 B.C. Ltd. from Idaho Silver, Inc. on December 15, 2022. In total the US Critical Metals Corp. (TSXV:USCM) acquired 70% stake in 1212242 B.C. Ltd. on December 15, 2022.