Company welcomes additional expressions of interest for its non-core Nevada silver assets
WILMINGTON, DE / ACCESS Newswire / October 20, 2026 / Electric Metals (USA) Limited (TSXV:EML)(OTCQB:EMUS) (the “Company” or “Electric Metals”) announces that its previously disclosed definitive purchase and sale agreement dated effective January 30, 2026, as amended May 7, 2026 (the “Agreement”), with Ameerex Corporation (“Ameerex”) for the sale of its non-core Nevada silver assets has automatically terminated in accordance with its terms following Ameerex’s failure to make the second purchase payment of US$1,100,000.
Electric Metals has retained US$350,000 in previously received payments and fees in accordance with the terms of the Agreement.
The transaction involved the sale of all of the issued and outstanding shares of the Company’s wholly owned subsidiary North American Silver Corporation and, indirectly, Centennial Mining, which together hold the Corcoran silver-gold and Belmont silver properties in Nye County, Nevada.
Electric Metals is currently in discussions with groups interested in acquiring these assets and welcomes expressions of interest from additional prospective purchasers.
Brian Savage, Chief Executive Officer of Electric Metals, commented: “We remain focused on monetizing our non-core Nevada silver assets and are encouraged by the interest from other prospective purchasers. Our objective is to complete a transaction that delivers value to Electric Metals and its shareholders while allowing us to concentrate our resources on advancing our U.S. manganese strategy.”
The Nevada silver assets are not part of Electric Metals’ core manganese business. The Company remains focused on advancing its North Star Manganese Project in Minnesota and developing an integrated domestic manganese supply chain to serve U.S. industrial, battery, defense and technology markets.
About Electric Metals (USA) Limited
Electric Metals (USA) Limited (TSXV:EML)(OTCQB:EMUS) is a U.S.-domiciled critical minerals and advanced materials company focused on establishing a secure, resilient and fully domestic U.S. manganese supply chain.
The Company’s principal asset is the North Star Manganese Project, comprising the Emily manganese deposit in Minnesota and a planned high-purity manganese processing facility in the United States. Electric Metals’ strategy is to supply high-purity manganese chemical and metal products for battery, defense, technology, steel and industrial applications.
With the United States currently dependent on foreign sources for its manganese requirements, Electric Metals is advancing an integrated mine-to-market strategy designed to strengthen domestic manufacturing, reduce foreign supply-chain dependence and support U.S. economic and national security priorities.
