Dark Star Minerals Inc. (CSE: BATT; FSE: P0W) has announced the acquisition of a full interest in the Bleasdell Project in the Canadian province of Saskatchewan. With the issuance of the final shares to the previous owners, the company has now fulfilled all contractual obligations under the option agreement.
Completion of the Bleasdell Project Acquisition
As Dark Star explained in its announcement, a total of 1,500,000 common shares were issued to two independent sellers at an assumed price of CAD 0.06 per share. This transaction was based on an amendment agreement dated October 15, 2025, which adjusted certain terms of the original purchase and sale agreement dated April 18, 2025.
With this share issuance, Dark Star has fulfilled all contractual obligations and exercised its option to acquire a 100% interest in the Bleasdell Project. The company now holds all rights, title, and interests in the relevant mining concessions in the Canadian province of Saskatchewan.
In return, the sellers received a 2.0% Net Smelter Return (NSR) Royalty on the project, which secures their participation in future production revenues.
Significance of the Acquisition for Dark Star Minerals
Marc Branson, President and CEO of Dark Star Minerals, stated:
“The completion of the acquisition of a full interest in the Bleasdell Project is an important milestone for our company. This continues our strategy of building a diversified portfolio of critical mineral projects. We look forward to advancing the development of the Bleasdell Project and integrating it into our growing pipeline.”
According to the company, the transaction represents the final step in the acquisition initiated in spring 2025. Dark Star thus secures full control over the project and can now independently decide on further exploration and development activities.
Background: the Bleasdell Project in Saskatchewan
The Bleasdell Project is located in Saskatchewan, one of Canada’s most resource-rich regions. The area is considered an established mining region with access to infrastructure and mining-friendly legislation.
Dark Star Minerals had previously emphasized in earlier announcements that the project is part of its long-term strategy to build a portfolio of raw material projects focusing on critical minerals. These include, in particular, raw materials that will be important in the future for battery technologies, renewable energies, and electromobility.
With the now completed acquisition, the company owns 100% of the project rights and can therefore independently plan and implement future work – such as geological surveys, sampling, or drilling programs.
Next Steps and Regulatory Notes
According to the announcement, all shares issued as part of the transaction are subject to a statutory hold period of four months and one day from the date of issuance. This lock-up period complies with applicable Canadian securities regulations and prevents immediate resale of the securities.
With the conclusion of the agreement, Dark Star Minerals sees another milestone achieved in its growth strategy. In recent months, the company had taken several steps to expand its project base in Canada and create a solid foundation for future development.
