V Ten Metals Provides Update on Its Tanami Property, Located in NT, Australia

V Ten Metals and Newmont advance Tanami JV with $330,000 spent toward $500,000 commitment.

What the company is saying

V Ten Metals Corp. reports ongoing progress at its Tanami Property in the Northern Territory, Australia, highlighting the joint venture with a wholly owned subsidiary of Newmont Corporation. The company emphasizes that Newmont has incurred $330,000 in expenditures since May 2024 toward the $500,000 option period requirement due by August 26, 2028. The announcement details the amalgamation of JV tenement portions into a new single tenement, EL 34507, issued on August 26, 2026. A prospect ranking and evaluation study covering the 1,237 sq km property is underway, with completion expected in Q4 2026. CEO, President, and Director Blair Way states the JV is progressing to plan and signals ongoing updates. The company frames the update as a methodical step in exploration, with a focus on future planning and prioritisation based on the study’s outcomes. The tone is measured and factual, with no exaggerated claims of discovery or imminent production.

What the data suggests

The disclosed figures show that Newmont has spent $330,000 toward the $500,000 JV option period expenditure requirement, with the full amount due by August 26, 2028. This represents 66% of the required spend, indicating steady progress but with two years remaining to complete the commitment. The Tanami Property covers 1,237 sq km across four granted exploration licenses, now partly consolidated into EL 34507 as of August 26, 2026. The prospect ranking and evaluation study is the next milestone, expected to finish by the end of December 2026. No exploration results, resource estimates, or technical findings are disclosed at this stage. The update is transparent about expenditures and project structuring but does not provide evidence of exploration success or economic value. The narrative is consistent with early-stage exploration, where spend and process milestones are the primary signals.

Analysis

The announcement provides a factual update on the Tanami Property joint venture, with specific details on the number of exploration licenses, property area, and expenditures to date ($330,000 of a $500,000 commitment by August 2028). The issuance of a new tenement (EL 34507) and the ongoing prospect ranking study are concrete milestones. Forward-looking statements are limited to the expected completion of the study in Q4 2026 and its intended use for future exploration planning. There is no exaggerated language or overstatement of progress; the tone is positive but proportionate to the actual stage of work. No claims are made about imminent discoveries or production, and the capital outlay described is modest and in line with early-stage exploration. The gap between narrative and evidence is minimal, with most claims supported by disclosed facts.

Risk flags

• ●There is significant execution risk, as the project remains in the early exploration phase with no disclosed drill results, resource estimates, or economic studies. The value of the Tanami Property is unproven, and future exploration outcomes are uncertain.
• ●The joint venture’s progress is tied to Newmont’s continued expenditure, with $170,000 still required by August 2028. If Newmont’s priorities shift or spending slows, the JV could stall before reaching technical milestones.
• ●The announcement does not disclose any community, permitting, or environmental risks, but these are common in Australian exploration and could delay or complicate future work if they arise.

Bottom line

This update signals that V Ten Metals and Newmont are methodically advancing their Tanami joint venture, with $330,000 of the $500,000 option period spend already incurred and a new consolidated tenement (EL 34507) in place. The project remains early-stage, with the next milestone being the completion of a prospect ranking and evaluation study by Q4 2026. No exploration results or resource estimates have been released, so the investment case still rests on future technical success rather than current asset value. The JV structure and ongoing Newmont funding provide credibility, but the absence of technical results means the risk profile remains high. Investors should watch for the study’s completion and any subsequent disclosure of exploration findings as the next meaningful catalysts. The most important takeaway is that the project is progressing on schedule, but tangible value creation is still dependent on future exploration outcomes.

Announcement summary

(TSXV:VTEN, OTCQB:VTNMF) V Ten Metals Corp. provided an update on its Tanami Property, which is located in the Tanami District of the Northern Territory, Australia. The Tanami Property consists of four semi-contiguous granted exploration licenses: EL 23848, EL 31402, EL 23874, and EL 23875, covering 1,237 sq km in the Tanami Desert, approximately 450km northwest of Alice Springs, Northern Territory, Australia. Part of the property is under an exploration farm-in and joint venture agreement with a wholly owned subsidiary of Newmont Corporation. Since the agreement was signed in May 2024, Newmont has incurred expenditures in the order of $330,000 towards the $500,000 option period expenditure requirements, which are due by 26 August 2028. As per the agreement, the tenement portions under the joint venture have been separated and amalgamated to form a new single tenement, EL 34507, which was issued on 26 August 2026. A project-wide prospect ranking and evaluation study is currently in progress and is expected to be completed during the December 2026 quarter (Q4 2026). The outcomes of this study will be used to guide future exploration planning and prioritisation. Blair Way, CEO, President and Director, stated that the joint venture is progressing to plan as the option period expenditures continue. D. Blair Way, B.Sc., P. Geo., CEO and President for the Company and Qualified Person as defined by National Instrument 43-101, approved and supervised the preparation of the technical information in the news release. V Ten Metals Corp. is a Canadian mining exploration company listed on the TSX Venture Exchange and owns the Ni-Cu-PGE-Au Tanami Project, which is 1,237 km² and strategically located adjacent to Newmont's Granites Mine in Northern Territory, Australia. The company has a farm-in joint venture in place exploring for potential gold targets.

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