J2 Metals Inc.

An Emerging Junior with Historic Silver Mines in Mexico’s Royal Mines of Zacualpan District, Plus Gold Assets in Québec and Alaska

Full Disclaimer: I am biased on this one, I own shares, added couple of times and I have business relation with the company!

January 19, 2026

J2 Metals Inc. (TSXV: JTWO) is a newly public precious-metals exploration company advancing a diversified portfolio of silver-, gold-, and antimony-prospective assets in established, mining-friendly jurisdictions including Mexico, Québec, and Alaska.

The Company’s flagship Mexican asset, the Sierra Plata Silver–Gold–Antimony Project, was recently optioned from producer Impact Silver Corp. J2’s Canadian and U.S. gold assets—the Miniac Project in Québec’s Abitibi Greenstone Belt and the Napoleon Project in Alaska’s Fortymile Mining District—were acquired from leading project generator Kenorland Minerals, which became J2’s largest shareholder.

Together, these assets position J2 Metals as a technically driven junior focused on historically productive districts, disciplined exploration, and long-term value creation rather than short-cycle speculation.

Asset Background and Corporate Evolution

Miniac and Napoleon both host compelling historic gold intercepts drilled by major mining companies. At Napoleon, historic work includes surface samples up to 567 g/t Au and intercepts drilled by Teck Resources such as 79 m @ 0.9 g/t Au. At Miniac, historical and modern drilling has intersected gold-bearing sulphide systems interpreted as distal expressions of a larger VMS-style deposit.

As a private company over the past six years, J2 raised and deployed several million dollars advancing these projects through drilling, high-resolution geophysics, and target generation. Market conditions ultimately delayed an IPO. Now public, J2 has complemented its gold portfolio with a district-scale silver–antimony opportunity in Mexico and is positioned to execute as capital markets improve.

Major Transaction: Sierra Plata Silver–Gold-Antimony Option (Mexico)

J2 Metals has entered into a three-year option agreement with Impact Silver Corp. to earn a 100% interest in the Sierra Plata Project, a district-scale silver–gold–antimony asset located in the Zacualpan Mining District, Guerrero State, Mexico.

Key Transaction Terms

• Property size: ~2,200 hectares (≈22 km²)
• Consideration:
  • C$250,000 up front
  • ~C$1.35 million in staged exploration expenditures over three years
  • Share and/or cash payments totaling up to 6.5 million common shares
• Royalty: 1.5% NSR, reducible to 0.75% for a C$1.5 million buy-down
• Optional acceleration: early earn-in plus C$500,000 payment
• 

Geological Setting and Prospectivity

Sierra Plata lies within a classic epithermal silver–gold system forming part of the broader Royal Mines of Zacualpan structural corridor, one of Mexico’s most historically productive mining districts. The Zacualpan–Taxco region has produced silver continuously for more than 500 years, dating back to the Spanish Empire.

Historic workings on and adjacent to the property include five past-producing silver mines, including El Salto, El Sabino, and extensions of the multi-level San Miguel system. Local records suggest historical grades averaging approximately 500 g/t Ag, with typical epithermal textures and sulphide assemblages including galena and pyrite.

Strategic Antimony Potential

A key differentiator for Sierra Plata is the presence of significant antimony mineralization, including a manto-style stibnite occurrence immediately adjacent to and extending into the property. Reported samples exceed 10,000 ppm Sb.

Antimony is classified as a critical mineral due to its applications in defense, electronics, flame retardants, and emerging energy technologies. With Western supply chains heavily dependent on China, antimony prices have reached record highs, significantly enhancing the strategic relevance of Sierra Plata.

The price of antimony is at all all-time high:

Planned Exploration Strategy (Sierra Plata)

J2 plans a systematic, district-scale exploration program including:

• Detailed geological mapping
• Surface geochemistry
• Airborne LiDAR and magnetic surveys
• Targeted drilling of silver-rich epithermal veins and antimony-bearing structural corridors

The presence of multiple historic mines reduces early-stage geological risk and allows exploration to focus on execution, reinterpretation, and scale expansion rather than conceptual discovery.

J2 plans on accessing IMPACT’s local experts and drills when practicable – a significant advantage.

Zacualpan District: Active Mining Context

Sierra Plata is located within a highly active mining district supported by operating mines, mills, and advanced exploration projects.

Impact Silver Corp.

Impact is the dominant operator in the district, controlling ~211 km² centered on the Guadalupe Production Centre. The company operates four producing silver mines feeding a 500+ tpd processing plant and continues to evaluate thousands of historic workings.

Pantera Silver Corp.

Pantera Silver is advancing the Nuevo Taxco silver–gold project, optioned from Impact Silver, within the same mineralized corridor—demonstrating continued junior-sector interest.

Grupo México / Southern Copper

Grupo México is a major regional landholder and controls portions of the historic San Miguel Mine, which partially lies on J2’s acreage. The presence of a global mining major underscores the district’s strategic importance and potential for future consolidation.

Portfolio Beyond Mexico

Miniac Project — Abitibi Greenstone Belt, Québec

Miniac lies within one of the world’s most prolific gold and VMS belts. The project targets gold-enriched VMS-style mineralization and has identified a ~7 km conductive horizon that remains largely untested.

Historical and modern drilling intersected:

• Distal VMS alteration (pyrrhotite, garnet-biotite assemblages)
• Gold-bearing sulphide zones
• Geophysical anomalies consistent with LaRonde-style analogues

A Phase II drill program (~3,000 m) is planned, supported by integrated geophysical datasets.  Highest priority Phase II drill targets are indicated in red:

Napoleon Project — Interior Alaska

Napoleon is located in the Fortymile Mining District within the Tintina Gold Province. Gold mineralization is structurally controlled and associated with shear zones intersecting the Napoleon pluton.

Historic work includes:

• Rock chips up to 567 g/t Au
• Teck Resources drilling: 79 m @ 0.9 g/t Au
• 27 drill holes totaling 4,759 m

The district has produced over 1 Moz of placer gold, with Napoleon representing the only known hard-rock source.

Corporate Development: Twenty Mile Spin-Out

J2 has announced the spin-out of the Twenty Mile Project (Quesnel Trough, British Columbia) into a separate vehicle via plan of arrangement, allowing focused advancement of the porphyry copper–gold asset while preserving capital and management focus on Sierra Plata, Miniac, and Napoleon.

Leadership and Governance

J2 Metals is led by an experienced team with deep backgrounds in exploration, capital markets, and company-building.

• Thomas Lamb (CEO & Director) – Multi-decade founder and executive; co-founder of M2 Cobalt (sold to Jervois Global); former director of Uzhuralzoloto; founder of Goldgroup Mining; current CEO of Myriad Uranium.
• Toby Pierce (Director) – Resource executive with extensive board experience; CEO of Somerset Energy; former partner at GMP London.
• Simon Clarke (Director) – Veteran company builder; former CEO of American Lithium (market cap peak ~$1.2B); co-founder of M2 Cobalt and Osum Oil Sands.
• Graham Giles (VP Exploration) – 15+ years technical experience; former Senior Project Geologist at Argonaut Gold.
• Ivan Riabov (CFO) – CPA with 17+ years across audit, finance, and public company reporting.

Path to Shareholder Value Creation

For early-stage explorers, value is created through execution, credibility, and disciplined capital allocation, often well before formal resource definition.

Key drivers for J2 include:

1. Consistent execution of stated exploration plans
2. Leveraging historic production to de-risk targeting
3. Demonstrating scale and continuity prior to discovery
4. Raising capital on improving terms aligned with milestones
5. Maintaining capital discipline and strategic focus
6. Transparent communication and trust-building
7. Preserving strategic optionality for partnerships or consolidation

Summary

J2 Metals offers exposure to:

• A district-scale silver–antimony opportunity in one of Mexico’s most historic mining camps
• Gold exploration upside in the Abitibi and Alaska
• An experienced leadership team with a track record of value creation

The Company’s long-term success will depend not on promotion, but on technical execution, disciplined financing, and consistent delivery—the core attributes of legacy exploration companies that ultimately create enduring shareholder value.