Low-Cost Option Deal Puts Winsome on Path to Expand Lithium Footprint in Québec

Strategic Expansion in a Tier-One Lithium District

Winsome Resources Limited (ASX – WR1) has taken a significant step to bolster its presence in the Eeyou Istchee James Bay region of Québec by securing an exclusive 12-month option to acquire the Madina claim block. This acquisition opportunity covers 38 claims adjoining the company’s flagship Adina Lithium Project, adding approximately 20 kilometres of highly prospective greenstone belt known to host lithium-bearing pegmatites.

The Madina claims lie along the same structural corridor as Adina, within the Trieste greenstone belt, a geological setting that has already proven fruitful for lithium exploration. Publicly available geological and geophysical data suggest that Madina shares similar lithologies and structural features, positioning it as a promising target for lithium mineralisation.

A Low-Risk, Flexible Acquisition Approach

Winsome’s option agreement with Bull Run Capital Inc., led by Canadian mining executive Kal Malhi, is structured to minimise upfront financial exposure while allowing comprehensive due diligence over the next 12 months. The company will pay C$125,000 to secure the option, with a further C$325,000 payable upon exercising the option, which can be settled in cash, shares, or a combination thereof. The vendor retains a 1% lithium-only Net Smelter Royalty, which Winsome can buy back for C$1 million at any time.

This flexible arrangement enables Winsome to integrate exploration activities on the Madina claims with its existing 2026 field program at Adina, utilising its successful exploration techniques such as LiDAR surveys, geophysical data acquisition, and systematic ground mapping and sampling. Notably, no systematic exploration or drilling has yet been conducted on Madina, presenting a fresh opportunity for discovery.

Strengthening a Tier-One Asset

Adina is already recognised as a tier-one lithium resource with a substantial mineral resource estimate of 78 million tonnes at 1.15% lithium oxide, predominantly classified as indicated resources. The project benefits from near-surface spodumene mineralisation, a long project life exceeding 20 years, and competitive operating costs in a stable mining jurisdiction.

Winsome’s Managing Director, Chris Evans, emphasised the strategic importance of the Madina claims, noting their logistical and geological complementarity to Adina. The company’s approach reflects a prudent balance of risk and opportunity, aiming to consolidate its land position in one of North America’s most capital-efficient lithium districts.

As lithium demand continues to surge globally, driven by the electric vehicle and battery storage markets, Winsome’s expansion efforts could enhance its resource base and project economics. The coming months will be critical as exploration results from Madina begin to emerge and the company decides whether to exercise its option.