Verity Resources Ltd Acquisition Secures 100% Copper-Silver Assets in Botswana

Verity Secures 100% Ownership of High-Grade Copper-Silver Assets in Strategic Botswana Acquisition

Verity Resources (ASX: VRL) has executed a strategic acquisition to secure 100% ownership of its Botswana copper-silver assets, exercising its pre-emptive rights to acquire the remaining 34% joint venture interest previously held by BCL Investments, a Botswana government subsidiary in liquidation.

Acquisition Highlights: Unlocking the Full Value of Critical Metals Portfolio

Verity has acquired BCL's 34% joint venture interest for just US$206,060 in cash, taking complete control of an asset portfolio that has seen approximately A$15 million in historical exploration expenditure – including A$4 million invested by BCL since the JV began in 2012.

The strategic acquisition gives Verity full ownership of over 1,800 km² of critical metals projects in northeastern Botswana, positioning the company alongside major players in the region. The projects are located within 50km of NexMetals Mining Corp's (NASDAQ: NEXM, market cap C$165M) Selebi Main operation – a substantial 18Mt resource grading 3.51% copper equivalent.

"The Verity team are very excited to make a strategic play and exercising our pre-emptive right over a bid for the joint venture interest held by BCL Investments, taking us to 100% ownership of multiple highly prospective copper-silver prospects with exceptionally high-grade copper (Cu) and silver (Ag) intercepts from previous programs completed under the JV," said Verity Director Patrick Volpe.

Exceptional High-Grade Copper-Silver Assets Ready for Development

Verity's Botswana portfolio contains multiple high-grade copper-silver assets that have demonstrated exceptional drill results, including:

Airstrip Copper-Silver Prospect:

• 11m at 7.63% Cu, 462g/t Ag from 52m (including 3m @ 22.74% Cu, 1,379g/t Ag)
• 1.13m @ 21.58% Cu, 1,023g/t Ag from 55m
• 0.6m @ 25.27% Cu, 1,283g/t Ag from 64m (including 0.24m @ 49.06% Cu, 2,493g/t Ag)

Dibete Copper-Silver Prospect:

• 36m @ 1.37% Cu, 70g/t Ag from 12m (including 2.5m @ 7.41% Cu, 456g/t Ag)
• 11m @ 4.5% Cu, 229.9g/t Ag from 33m
• 25m @ 2.17% Cu, 77g/t Ag from 27m
• 6.15m @ 7.20% Cu, 182g/t Ag from 24.85m

These projects exhibit similar characteristics to the historically significant Messina Copper deposits in South Africa, where high-grade copper deposits extended to depths beyond 1,400m and produced an estimated 42 million tons of copper-bearing ore between 1903 and 1993.

Maibele North: Advanced Nickel-Copper-PGE Asset

The portfolio also includes the advanced Maibele North project, which hosts an established inferred mineral resource:

This resource remains open along strike in all directions and at depth, with BCL having spent A$4 million on drilling and metallurgy work that has yet to be incorporated into the resource estimate.

Understanding Critical Metals Deposit Types: Messina-Style Copper Mineralisation

The high-grade copper and silver mineralisation at Airstrip and Dibete bears striking similarities to the historically significant Messina Copper deposits located approximately 230km southeast in South Africa. The Messina district contained multiple high-grade copper deposits comprising breccia pipes, disseminated replacement, and fissure deposits centered on structural intersections within high-grade metamorphic rocks.

Like Messina, the Verity deposits were discovered through narrow, high-grade copper veins near the surface, with the potential for larger orebodies at depth. The similarities between these deposits, including the presence of extremely high-grade copper veins, spatial association with dolerite dykes, and location along similar structural trends, suggest significant exploration upside for Verity's assets.

Future Exploration Potential: Deep Targets Identified

Geophysical surveys completed in 2021 identified multiple high-priority targets below the known mineralisation at both Airstrip and Dibete. Audio-frequency Magnetotellurics (AMT) surveys revealed pipe-like conductive targets at depth that have never been drill-tested, potentially representing massive sulphide accumulations that could significantly expand the resource base.

At Maibele North, AMT surveys identified:

1. A vertical conductor beneath the thickest part of the orebody
2. Large south-dipping anomalies extending beyond the known deposit

These represent significant exploration targets that could substantially increase the size of the resource.

Why Investors Should Pay Attention to Verity Resources

Verity has strategically positioned itself with a diverse critical metals portfolio spanning multiple jurisdictions:

1. Diversified Critical Metals Exposure: The company now controls 100% of high-grade copper-silver and nickel-copper assets in Botswana, a 154,000 oz gold resource at Monument in Western Australia, and high-grade rare earth elements projects in Brazil.

2. Strategic Location: The Botswana assets are situated within 50km of NexMetals' Selebi operations, which recently received a US$150 million Letter of Interest from the Export-Import Bank of the United States to support mine development.

3. Exceptional Grades: The exceptionally high copper and silver grades reported across multiple prospects provide the potential for high-margin operations.

4. Exploration Upside: Geophysical surveys have identified multiple untested targets at depth that could substantially expand the known resources.

5. Critical Metals Focus: The portfolio contains nickel, copper, PGEs, silver and rare earth elements – all critical metals with strong long-term demand fundamentals driven by electrification and decarbonisation.

"The value proposition of Verity is continually increasing, having a 154koz gold resource at Monument, Western Australia with resource expansion and upgrade drilling in progress, high-grade Rare-Earth Elements in Brazil, and now exceptional Cu-Ag projects in Botswana. We now have control over a portfolio of projects containing in-demand, globally significant critical metals and minerals, in some of the best mining jurisdictions in the world," Volpe concluded.

Want to Capitalise on Verity's High-Grade Copper Portfolio?

For investors seeking exposure to critical metals with exceptional grades, Verity Resources presents a compelling opportunity with its newly acquired 100% ownership of high-grade copper-silver assets in Botswana. With outstanding drill results including intercepts of up to 25.27% copper and 1,283g/t silver, alongside diversified assets across multiple jurisdictions, Verity is strategically positioned in the critical metals sector. To learn more about this strategic acquisition and Verity's growing portfolio of copper, silver, nickel, gold and rare earth elements projects, visit their website today.