Live Energy Minerals Enters into Option Agreement to Acquire Plaster Rock Property in New Brunswick

LIVE secures an option for uranium-copper claims in New Brunswick with no cash outlay.

What the company is saying

Live Energy Minerals Corp. is announcing an option agreement dated October 15, 2026, to acquire a 100% interest in two mineral claims totaling 73 units near Plaster Rock, New Brunswick. The company emphasizes that the property is road-accessible and hosts sediment-hosted uranium-copper mineralization, referencing historical sampling results of up to 2.87% U3O8 and 8.32% Cu, and more recent 2009 grab samples up to 1.46% U3O8 and 6.19% Cu. The narrative highlights that there are no cash payments or minimum exploration expenditures required, and the only consideration is the staged issuance of 4,000,000 shares over two years. The company stresses that the Optionor is at arm's length, no new Control Person will be created, and no finder's fees are payable. Adrian Smith, P.Geo., CEO and director, is named as the qualified person who has reviewed and approved the technical content. The announcement is framed as a straightforward transaction disclosure, with a neutral and factual tone.

What the data suggests

The agreement allows LIVE to acquire the Plaster Rock Property by issuing 4,000,000 common shares in three tranches: 120,000 shares within 10 days of approval at $0.20 per share, 1,000,000 shares within 10 days of the first anniversary, and 2,880,000 shares within 10 days of the second anniversary, with later tranches priced at the prevailing market price. There are no cash payments or required exploration expenditures, reducing upfront financial risk. Upon exercise, the Optionor retains a 2% net smelter returns royalty, with LIVE able to buy back half (1%) for $500,000 at any time. Historical sampling cited includes up to 2.87% U3O8 and 8.32% Cu from a nodule, and 1.46% U3O8 and 6.19% Cu from 2009 grab samples, but these are unverified and not representative of the property's overall potential. The property has never been drilled and is described as underexplored, with no resource estimate or technical work beyond surface sampling disclosed. All issued shares will be subject to a four-month and one-day hold period. The company's obligations are limited to keeping the claims in good standing while the option is in effect.

Analysis

The announcement is a factual disclosure of a property option agreement, detailing the terms of share issuance, royalty structure, and historical sampling results. There is no promotional or exaggerated language regarding the potential of the property or the company's future plans. Most forward-looking statements are procedural (timing of share issuance, maintenance of claims, potential royalty buyback) rather than aspirational or outcome-based. No immediate operational or financial benefits are claimed, and there is no mention of planned exploration, development, or capital spending. The absence of minimum exploration expenditures and cash payments further reduces capital intensity. The gap between narrative and evidence is minimal, as the release does not speculate on future value or project outcomes.

Risk flags

• ●The property is at a very early stage, with no drilling or resource estimate, and all cited grades are from selective historical and grab samples, which may not reflect the broader mineralization; this means the project's true potential is highly uncertain.
• ●The agreement requires only share issuance and no minimum exploration spending, which could lead to the property remaining underexplored if market or company priorities shift, limiting the likelihood of near-term value creation.
• ●The Optionor retains a 2% net smelter returns royalty, and while LIVE can buy back half for $500,000, this future obligation could impact project economics if the property advances to production.

Bottom line

This is a low-cost, share-based option giving LIVE exposure to a uranium-copper prospect in New Brunswick, but the asset is at an early stage with no drilling or resource definition. The lack of cash payments and minimum work commitments reduces financial risk but also means there is no guarantee of near-term exploration activity or value creation. The cited historical grades are promising but unverified and not representative, so investors should treat them as anecdotal rather than indicative of resource potential. The staged share issuance structure spreads dilution over two years, but the main catalyst for value will be any future exploration results, which are neither planned nor funded under this agreement. For now, this is a speculative land acquisition with limited immediate impact; investors should watch for concrete exploration plans or technical milestones before reassessing the asset's significance.

Announcement summary

(CSE:LIVE) Live Energy Minerals Corp. has entered into an option agreement dated October 15, 2026, with an arm's length party (the Optionor) to acquire a 100% interest in two mineral claims comprising 73 units near Plaster Rock, New Brunswick, known as the Plaster Rock Property. The property is located approximately 8 km north-northwest of the village of Plaster Rock in Victoria County, New Brunswick, and is road accessible with provincial highways and local roads crossing the claims. The claims cover 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, while more recent sampling by a previous operator in 2009 returned grab samples of up to 1.46% U3O8 and 6.19% Cu. To exercise the option, Live Energy Minerals Corp. must issue an aggregate of 4,000,000 common shares to the Optionor: 120,000 shares within 10 days of the Approval Date, 1,000,000 shares within 10 days of the first anniversary of the Approval Date, and 2,880,000 shares within 10 days of the second anniversary of the Approval Date. The first tranche will be issued at a deemed price of $0.20 per share, being the closing price on October 15, 2026, with subsequent tranches issued at the closing price on the last trading day before each issuance, subject to CSE pricing policies. There are no cash option payments and no minimum exploration expenditures required. The company must keep the claims in good standing while the option is in effect and may terminate the agreement at any time with written notice. Upon exercise of the option, the Optionor will retain a 2% net smelter returns royalty on the property, with the company having the right to purchase one-half (1%) of the royalty at any time for $500,000. The issuance of the option shares will not create a new Control Person, and no finder's fees are payable. All option shares will be subject to a statutory hold period of four months and one day from their date of issuance. Adrian Smith, P.Geo., a director and Chief Executive Officer of the company, is the qualified person who has reviewed and approved the scientific and technical information in the release. The company also holds rights to the Mesa Top Mine and Section 20 uranium claims in McKinley County, New Mexico, USA, and retains a net smelter returns royalty on the McDermitt Lithium East Project in Nevada, USA, which is under option to US Critical Metals Corp.

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