Pinnacle Minerals Limited (ASX: PIM) (“Pinnacle” or the “Company”) is pleased to announce it has entered into a binding agreement for the strategic acquisition of Idaho Antimony Critical Minerals Pty Ltd, an entity that has a binding option agreement to acquire Idaho Antimony Corporation, providing the Company with 100% ownership of a portfolio of eight highly prospective critical minerals projects located in Idaho and Washington State, USA (the “Projects”).
Highlights
- Pinnacle Minerals Limited (ASX: PIM, or the Company) has executed a binding agreement to acquire eight Antimony, Gold and Silver projects in two highly prospective and well- established mining regions in the USA.
- Eight claim blocks secured, with six in Idaho and two in Washington, located near historic mining districts with proven production history.
- The six Idaho Projects surround Perpetua Resources Inc’s (PPTA.NAS; A$4bn market cap) Stibnite Project and lie within a similar structural corridor and share similar geological characteristics, including host rocks, alteration, and “roof pendant” mineralisation style.
- The Thunder Mountain Project is credited with approx. 20,000 oz of historical gold production in the early 1900s.
- All projects benefit from good quality existing infrastructure and evidence of past production of gold and silver and antimony.
- Acquisition aligns Pinnacle’s U.S. strategy with key White House mission to quickly develop U.S. critical minerals assets and strengthen U.S. defence supply chain security.
- Potential for FAST-41 permitting and U.S. Department of War funding to accelerate development of domestic critical minerals supply chains.
- On 9 October 2025, China further tightened export controls on critical minerals.
- On 12 October 2025, Australian media reported that the Australian government is considering setting up a $1.2 billion critical minerals strategic reserve and supporting Australian critical minerals companies by setting price floors for output, providing funding for new projects, providing offtake agreements and encouraging Australian based critical minerals miners to work closely with the U.S. administration to strengthen Western supply chain capability.
- Acquisition occurring at an opportune time for the industry sector, with many U.S. critical minerals companies trading at record highs, including Critical Metals Corp (CRML.NAS; up 15x from 52-week low), USA Rare Earth Inc (USAR.NAS; up 6.8x from 52-week low), MP Materials Corp (MP.NYS; up 5.4x from 52-week low) and Perpetua Resources Corp (PPTA.NAS; up 3.4x from 52-week low).
- Pinnacle has also received firm commitments for a Placement to raise $3 million from sophisticated and professional investors.
Cautionary Statement Regarding Historical Data
The Company is in possession of or is aware of historical exploration results summarised in US government reports, that it considers are (at this stage) not reliable enough to be material, and/or not sufficiently complete. Therefore, the Company has determined those data are therefore not suitable for release to the market. The Company is in possession of a number of these historical reports and confirms that, it will commence a program of rock- chipping, sampling and petrographical work to verify statements made in these historical reports. This work will be carried out in the coming weeks prior to the onset of winter in the region.
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