VANCOUVER, British Columbia – VR Resources Limited (TSXV: VRR; FSE: 5VR; OTCQB: VRRCF) has announced two major milestones for its previously announced farm-out transaction of the Empire and Silverback Cu-Ni-PGM projects in Ontario to Athos Metals Corp., a private company. A VTEM+ airborne electromagnetic and magnetic survey is now underway, and VR has received conditional approval from the TSX Venture Exchange for the proposed transaction.
Survey Details
The survey covers approximately 1,500 line-kilometers across three separate blocks, including the Rambler, Empire, and Mack properties. It is expected to take about three weeks to complete, with final data anticipated in July 2026. The primary goals are to refine magnetic and EM targets at the Westwood intrusion, based on VR’s 2024 exploration and drilling, and to identify new coincident EM and magnetic anomalies elsewhere on the properties.
Exploration Milestones
Follow-up drilling, the second and final exploration milestone for the proposed transaction, is planned for late summer or fall 2026, after the airborne survey data are integrated with existing project data and targets are prioritized.
Dr. Michael Gunning, CEO of VR, stated: “We are pleased to see the Empire exploration strategy advancing. We believe in the copper-nickel-PGM-gold potential, and our 9.9% position will preserve the future upside potential of this district-scale project that we initiated two years ago.”
Transaction Progress
Athos Metals is moving forward with a go-public transaction, which will result in its shareholders receiving shares of a resulting issuer expected to be listed on the TSX Venture Exchange or the Canadian Securities Exchange. VR will hold 9.9% of the resulting issuer’s shares, among other considerations. Conditional acceptance from the TSXV was received on April 23, 2026.
