NVRO Metals Establishes the NVRO Metals Hub, Creating a Pathway to Critical Minerals Production and Accelerating Industrial Deployment of the NVRO Process™
Proposed acquisition of Northern Territories Resources Pty Ltd intended to create a vertically integrated critical minerals production, processing and recovery platform with a pathway to near-term cash flow, accelerated commercialization and long-term growth
VANCOUVER, British Columbia, June 10, 2026 (GLOBE NEWSWIRE) -- NVRO Metals Limited (TSXV: NVRO), (“NVRO Metals” or the “Company”), a clean technology company focused on the recovery of precious and critical metals from sulphidic feedstock including ores, concentrates, mine waste and tailings, is pleased to announce the proposed acquisition of Northern Territories Resources Pty Ltd. (“NTR”). NTR is an Australian exploration and mining company whose assets, on completion of the proposed acquisition, will become the NVRO Metals Hub, a critical minerals production platform utilizing the NVRO Process™, located in Australia’s Northern Territory.
Figure 1: The NVRO Metals Hub located in Australia’s Northern Territory.
The establishment of the NVRO Metals Hub represents an important milestone in the Company’s history. Pursuant to a creditor-approved deed of company arrangement in Australia (the “DOCA”) executed on June 8, 2026, the Company’s wholly owned subsidiary, NVRO Metals (Australia) Pty Ltd, proposes to acquire all the issued and outstanding shares of NTR for total consideration of C$27.9 million. The consideration comprises a specified contribution of C$14.3 million payable within 75 days of execution of the DOCA, an environmental bond top-up of approximately C$2.3 million earmarked for the Northern Territory Government’s environmental bond requirements, a payment of C$10 million to the secured creditor and approximately C$1.3 million for transaction costs including stamp duty.
NTR is an Australian Northern Territory (NT) exploration and mining company whose principal assets include 48 NT tenements, comprising mining and exploration licenses, a fully constructed hydrometallurgical processing facility, associated infrastructure and a substantial polymetallic resource base. The installed plant, currently permitted as a hydrometallurgical plant, includes a tank leach plant and associated infrastructure required for the NVRO Process, with additional solvent extraction, electro winning, resin-in-pulp circuits capable of producing copper cathode and cobalt-nickel intermediate products in the near term. The acquisition will enable the Company to accelerate its transition from a pre-revenue mineral process technology developer into a vertically integrated precious and critical minerals processing, recovery and production platform.
The original construction cost was C$206 million (inflation-adjusted approximately C$310 million).
NTR’s assets also include a historic polymetallic oxide and sulphide mineral resource estimate containing copper, cobalt, silver, lead, zinc and nickel (based on a 2006 historic report under the JORC Code). The Company is working to verify and restate the estimate as a current mineral resource in the NI 43-101 technical report currently being prepared by the Measured Group.
Based on the engineering studies performed to date by PPM Global and the Company, the acquisition provides the industrial-scale infrastructure capable of accelerating deployment of the NVRO Process™ and the foundation for the Company’s centralized critical minerals processing hub strategy. During due diligence, the Company believed that a pathway to near-term copper, cobalt and nickel production and operating cash flow could be achieved with the existing oxide resources and installed plant.
Pending Resources Statement and Phase 1 Development
The Company’s Phase 1 development strategy is focused on near term production of copper cathode and cobalt/nickel intermediate products by heap leach, solvent extraction and electro winning (SX-EW) and precipitation of cobalt and nickel. Production is expected to commence by Q4 2027. The Company expects that the Measured Group will release a NI 43-101 report on the property, including both the oxide and sulphide resource within the next few weeks. The current Mine Management Plan (“MMP”) is care and maintenance and a variation to the MMP will be made to undertake the proposed Oxide Heap Leaching.
A drilling campaign is being planned to obtain samples of both oxide and sulphide orebodies for further testing. The sulphide resource will undergo pilot scale testing through the micro NVRO pilot plant at the Company’s Western Australia facility in 2H2026. This will provide the inputs for future feasibility and engineering studies to advance the technology maturity of the NVRO Process toward technology readiness level 9, full industrial scale commercial production.
Funding Pathway Advancing
The Company has substantially advanced a funding strategy designed to support the acquisition, refurbishment, commissioning and initial operations of the NVRO Metals Hub. The proposed funding package comprises a combination of commodity-linked financing package, government funding and equity financing. Management expects the proposed funding structure to provide sufficient capital to support the acquisition and planned Phase 1 development activities.
The Company has received a number of term sheets from metal traders for off take agreements of the copper cathode and cobalt / nickel products which include prepayment debt facilities. The strong interest and advanced discussions with established metal traders reflects confidence in both the quality of the underlying asset and the Company’s development strategy.
The funding pathway for the NVRO Metals Hub acquisition and project development is advancing. The completion of the proposed financing package and the acquisition remains subject to a number of conditions, including completion of definitive documentation, satisfactory due diligence, receipt of all required regulatory and stock exchange approvals, including acceptance of the TSX Venture Exchange (the “TSX-V”), and other customary conditions. Any securities issuances in connection with the proposed financing or the acquisition will also be subject to acceptance of the TSX-V, as applicable. There can be no assurance that the proposed financing package or the acquisition will be completed on the terms currently contemplated or at all.
A Platform for Long-Term Growth
The establishment of the NVRO Metals Hub is a natural progression of the Company’s commercial developments and reflects the maturity of the NVRO Process. The proposed acquisition will advance the Company’s commercialization strategy and is intended to create a revenue generating platform across the critical minerals value chain, including technology licensing and deployment, precious and critical minerals production of owned and third-party feed sources, centralized processing infrastructure, commercial processing and recovery services and environmental remediation.
“The establishment of the NVRO Metals Hub is a significant milestone in the Company’s history,” said David Cam, Executive Chair. “For the first time, we have brought together proprietary technology, industrial-scale processing infrastructure and near-term production capability within a single platform. We believe this creates a powerful combination capable of generating operating cash flow while accelerating commercialization of the NVRO Process”
“Importantly, this acquisition does not change our technology-led licensing strategy. The NVRO Metals Hub provides the infrastructure required to accelerate global deployment of the NVRO Process™ and support multiple customer opportunities.”
Grant Freeman, Chief Executive Officer, added, “The NVRO Metals Hub provides a pathway to near-term cash flow and production and provides a foundation for sustainable growth.”
“We believe the NVRO Metals Hub expands the Company’s commercial opportunities and positions us for critical minerals production from sulphide minerals.”
About NVRO Metals Limited
NVRO Metals Limited is a technology company focused on the recovery of precious and critical metals from mine waste, tailings and complex sulfidic materials. Through its proprietary NVRO Process™, centralized processing infrastructure and commercial deployment strategy, the Company is building a scalable critical minerals production, processing and recovery platform supporting global supply chain security.
Additional information, including the Company’s investor presentation and corporate profile, is available at www.nvrometals.com
Figure 2: The NVRO Metals Hub electrowinning shed in the foreground.
CONTACTS:
Investor Cubed
Neil Simon, CEO
+1 647 258 3310
nsimon@investor3.ca
ir@nvrometals.com
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Forward-Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking information and forward-looking statements are collectively referred to herein as “forward-looking statements.” Forward-looking statements are generally identifiable by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “target,” “will,” “would,” “could,” and similar words, expressions or statements that certain actions, events or results may, could, would, should or will occur or be achieved.
Forward-looking statements in this news release include, but are not limited to, statements regarding: the acquisition, development, refurbishment, commissioning and restart of the hydrometallurgical processing facility, associated infrastructure and mineral resource base comprising the NVRO Metals Hub; the expected benefits of the NVRO Metals Hub; the Company’s ability to establish and operate the NVRO Metals Hub as a centralized precious and critical minerals processing platform; the Company’s Phase 1 development strategy; the expected timing of production, including the expectation that production may commence by Q4 2027; the potential production of copper cathode and cobalt/nickel intermediate products; the ability of the existing infrastructure to support deployment of the NVRO Process™; the potential deployment of multiple processing trains; the Company’s ability to process Company-owned resources, customer feedstocks, regional tailings, mine closure materials, mine waste and complex materials; the Company’s ability to generate operating cash flow; the Company’s ability to complete financing for the acquisition, refurbishment, commissioning, restart and initial operations of the NVRO Metals Hub, including through commodity-linked prepayment facilities, debt financing, equity financing, offtake arrangements or other funding sources; the completion of definitive agreements with metals traders, lenders, investors, strategic partners, customers or other counterparties; the expected benefits of the Company’s centralized processing hub strategy; the potential application and commercialization of the NVRO Process™; the Company’s ability to establish additional centralized processing hubs in other jurisdictions; the completion and delivery of a 43-101 report in relation to the property; and the Company’s broader commercial objectives and strategic growth plans.
Forward-looking statements are based on management’s current expectations, estimates, projections, assumptions and beliefs as of the date of this news release. These assumptions include, without limitation: the Company’s ability to complete the acquisition, implement the DOCA and satisfy all conditions to closing on the timelines and terms currently contemplated; the Company’s ability to complete, integrate, refurbish, commission and restart the NVRO Metals Hub on the timelines and terms currently contemplated; the availability and adequacy of existing infrastructure; the accuracy of technical, engineering, metallurgical, resource, operating, economic and financial assumptions; the accuracy and completeness of information provided to or reviewed by the Company in connection with the acquisition, including technical, resource, infrastructure, environmental, permitting and operating information; the availability of required feedstock, reagents, equipment, labor, contractors, utilities, water, power, transportation, port access and other inputs; the Company’s ability to achieve anticipated production rates, throughput, recoveries, grades, product specifications, operating costs and capital costs; the availability of financing on acceptable terms; the Company’s ability to complete definitive documentation with metals traders, lenders, investors, strategic partners, customers and other counterparties; the receipt of required regulatory, stock exchange, permitting, environmental, governmental, community, land access, counterparty and stakeholder approvals, including acceptance of the TSX-V; the ability of the NVRO Process™ to be deployed at pilot, demonstration, commercial or industrial scale; the Company’s ability to identify and advance suitable feedstock, processing, infrastructure and strategic opportunities; and that market conditions, commodity prices, foreign exchange rates, interest rates, inflation, logistics, supply chains, regulatory conditions and general economic, political and business conditions will remain sufficiently supportive of the Company’s plans .
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, without limitation: the risk that the acquisition, implementation of the DOCA, development, refurbishment, commissioning, restart or operation of the NVRO Metals Hub may not proceed as currently contemplated or at all; the risk that conditions to completion of the acquisition may not be satisfied or waived; the risk that the Company may not receive required regulatory or stock exchange approvals, including acceptance of the TSX Venture Exchange, on the timelines currently expected or at all; the risk that the Company may not obtain required financing on acceptable terms or at all; the risk that discussions or term sheets with metals traders, lenders, investors, strategic partners, customers or other counterparties may not result in definitive agreements; risks that due diligence, verification, technical review or qualified person review may result in changes to the Company’s current assumptions or expectations; technical, operational, metallurgical, environmental, health and safety risks associated with processing complex materials and deploying the NVRO Process™; risks that existing infrastructure may not be suitable, sufficient or economic for the Company’s intended purposes; permitting, regulatory, environmental, governmental, community, land access, counterparty and stakeholder approval risks and delays; risks related to title, tenure, access, environmental liabilities, reclamation obligations, mine closure obligations and other legacy liabilities; risks associated with operating in Australia and other jurisdictions; changes in laws, regulations, government policy, taxation, royalties, permitting requirements or stock exchange requirements; risks that the centralized processing hub strategy may not be advanced as currently contemplated or at all; competition for projects, feedstocks, infrastructure, financing, personnel and strategic partners; reliance on key personnel, contractors, consultants and technical advisors; market price volatility in the Company’s securities; general economic, political, market and business conditions; and other risks and uncertainties beyond the Company’s control.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results, performance, achievements, events or developments not to be as anticipated, estimated, forecasted or intended. Forward-looking statements are not guarantees of future performance. Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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