Genius Metals Secures Option to Acquire 100% Interest in Prospective Copper-Gold Project in Morocco

In a move that broadens their geographical footprint, Genius Metals Inc. has signed an option agreement with Société Bleida Mineral Ressources SARL. This agreement grants Genius Metals the potential to acquire a 100% stake in the BMR Cu-Au project located in Morocco. This strategic expansion complements their ongoing efforts to develop their existing North American assets, positioning Genius Metals for future growth with a diversified portfolio.

The BMR Copper prospect spans approximately 9 km² southeast of Ouarzazate, accessible via national road N9 and a 2 km track from kilometer 24. The area, known for historical copper and manganese activities, consists mainly of Ediacaran volcanic and volcano-clastic terrains. It features two primary mineralization zones with varying styles of copper mineralization.

To the south, a subvertical mineralized structure extends 1.2 km with a width up to 5m, characterized by brecciated quartz-carbonate veins containing chalcocite and malachite. The main mineralization zone, up to 3m wide (locally wider), includes steeply dipping eastward massive sulfide veins, with initial surface samples by Genius Metals yielding values up to 11.73% Cu and 5.53 g/t Au.

In the north, a historical copper quarry extracted approximately 4,000 tonnes of material, primarily rhyolite and porphyritic rhyodacite. Late to post-volcanic copper mineralization, controlled by magmatic and tectonic structures, is surrounded by a zone of propylitic alteration. An independent Canadian exploration consulting group is currently conducting surface sampling to test for copper mineralization and assess potential gold deposits, previously unexplored on the property.

The Company has finalized an agreement to acquire full ownership of the BMR Cu-Au project through structured cash payments totaling $250,000 CAD and committed work expenditures totaling $225,000 CAD. This includes an initial payment of $25,000 CAD due by August 31, 2024, followed by subsequent payments of $30,000 CAD by August 31, 2025, $45,000 CAD by August 31, 2026, and a final payment of $150,000 CAD by August 31, 2027. These arrangements secure the Company's access to the project, facilitating planned exploration and development activities over the coming years to unlock its mineral potential.

In addition to cash payments, the Company is obligated to undertake eligible exploration expenditures on the BMR Cu-Au project, totaling $50,000 CAD by August 31, 2025, $75,000 CAD by August 31, 2026, and $100,000 CAD by August 31, 2027. These expenditures are part of the agreement to secure full ownership of the project and are essential for advancing exploration activities aimed at delineating and evaluating the mineral potential of the property. The structured timeline ensures that exploration efforts align with financial commitments, fostering systematic progress towards identifying and developing potential copper and gold resources at the site.

Genius Metals secures exclusive rights to explore and potentially acquire the property through an option agreement. They will manage the property during this period and have the flexibility to expedite the purchase by fulfilling the financial obligations and development commitments early. However, Genius Metals retains the option to walk away at any point without further obligation.