Resolution Minerals to Acquire Idaho Mill and Stockpiles for US$1.25M Plus 70M Shares

Strategic Acquisition in Idaho

Resolution Minerals Ltd (ASX, RML) has announced a binding agreement to acquire 100% of Remington Capital Corporation, which holds an option to purchase the Johnson Creek Tungsten & Antimony Mill and Antimony Camp properties in Idaho, USA. This acquisition is a significant step for RML, providing a processing mill and tungsten stockpiles directly adjoining its Horse Heaven Project. The site spans 25 acres of private land, a rare asset in the region, and is strategically located near Perpetua Resources’ A$4 billion Stibnite Project, one of North America’s premier critical minerals belts.

Fast-Tracking Critical Metal Production

The Johnson Creek Mill, historically used to process tungsten, includes infrastructure such as a processing facility rated at 50 tons per day, storage buildings, industrial water rights, and electrical power. Importantly, the acquisition includes two historic tungsten ore stockpiles from the former Golden Gate Tungsten Mine, which were never processed. This positions RML to potentially fast-track production of antimony and tungsten, metals critical to U.S. national security and industrial applications.

RML is already conducting metallurgical testing on high-grade antimony samples from its Horse Heaven project, signaling a clear intent to restart processing operations in the near term. The acquisition also provides a strategic base camp for expanding exploration, mining, and processing activities, addressing a critical bottleneck in land availability in the area.

National Security and Government Engagement

Brett Lynch, Senior Strategic Adviser to Resolution, highlighted the acquisition’s importance in addressing the U.S. Administration’s urgent need to secure domestic supplies of antimony and tungsten for defense purposes. With the Johnson Creek Mill operational, RML would become one of the few U.S. companies with in-house processing capabilities for these critical metals, enhancing its leverage in government permitting, funding, and offtake discussions, including potential support from the U.S. Department of War.

The proximity to Perpetua’s Stibnite Project, which is poised to become the only domestic antimony source once operational, further elevates RML’s strategic position. Horse Heaven’s history of producing antimony, tungsten, and gold during major conflicts underscores the project’s potential to contribute meaningfully to the U.S. critical minerals supply chain.

Transaction Details and Next Steps

The acquisition deal involves a cash payment of US$1.25 million, reimbursement of a US$50,000 deposit, and the issuance of 70 million fully paid ordinary shares plus 35 million options exercisable at $0.10 each, expiring in November 2029. The transaction remains subject to due diligence, exercise of the option, and shareholder approval, with completion expected by late November or early December 2025.

Additionally, a facilitation fee of 10% will be paid to Oakley Capital Partners through shares and options, pending shareholder approval. The company’s existing cash reserves will fund the cash component of the purchase price.

Looking Ahead

With this acquisition, Resolution Minerals is not only securing critical infrastructure and resources but also positioning itself at the forefront of the U.S. critical minerals sector. The move could accelerate the development timeline for antimony and tungsten production, vital for both industrial and defense applications, while enhancing RML’s appeal to government stakeholders and potential partners for downstream processing and product offtakes.