Chilean Cobalt Corp. filed a current report on November 3, 2026, disclosing two agreements entered on October 28 and October 29, 2026, including a definitive option to acquire mining concessions in northern Chile and an amendment to an existing rare earth project agreement.

Key Highlights

  • Option signed October 28, 2026: Chilean Cobalt entered a definitive option agreement to acquire approximately 1,381 hectares of exploitation-level and approximately 2,900 hectares of exploration-level mining concessions in the San Juan mining district in northern Chile.
  • $300,000 paid at signing: The company paid $300,000 upon signing to extend all future installment payments and the effective date of the option by approximately 60 days.
  • Total option payments up to $27,500,000: Full exercise requires installments of $1,500,000 by December 30, 2026; $6,000,000 by April 29, 2027; $10,000,000 by December 30, 2027; and $10,000,000 by December 30, 2028.
  • 1.5% NSR royalty for 99 years: Upon exercise, counter-parties receive a 1.5% net smelter return royalty valid for 99 years from first commercial production, with the company holding a right to repurchase 0.75% for $10,000,000 within three years of first commercial production.
  • NeoRe Amendment signed October 29, 2026: The company entered Amendment 1 to its Amended Earn-in and Option Agreement with NeoRe SpA, confirming completion of tranches 1 and 2 and extending the tranche 3 option, with an election deadline of March 31, 2027.
  • NeoRe funding cap set at $2,104,000: Tranches 1 and 2 resulted in $1,460,712 in committed funds; additional monies up to a $2,104,000 cap are non-refundable earn-in expenditures, while amounts beyond the cap are refundable interest-free advances if the option is not exercised.
  • No securities registered on an exchange: The filing states "None" for securities registered pursuant to Section 12(b) of the Act.

Chilean Cobalt's Northern Chile Mining Option and NeoRe Amendment Details

According to the filing, on October 28, 2026, Chilean Cobalt Corp. entered a definitive option agreement with counter-parties to acquire mining concessions in the San Juan mining district in northern Chile. The company disclosed it paid $300,000 at signing, in addition to a previously paid $500,000 advance made at the time of signing a term sheet called the "Terms of Reference," bringing total pre-effective-date payments to $800,000. The filing notes that failure to pay any installment is "completely at the discretion of the Company and does not create any further liability or obligation, other than the forfeiture of all previous monies paid."

During the option period following the effective date, the filing states the company will pay counter-parties a monthly lease of $25,000 per month. The filing further discloses that any tangible production during the option period requires the company to pay counter-parties 20% of net sales value after deducting direct costs. Additionally, should the company sell all or any portion of the acquired concessions, it must pay counter-parties 5% of incremental value above a defined reference value for 30 years following the acquisition date. The filing notes that a certified English translation of the option agreement is not yet available and will be provided as an exhibit to the company's next periodic report.

Regarding the NeoRe amendment, the filing states that Amendment 1 formally confirms completion of tranches 1 and 2, extends the tranche 3 option, and clarifies project operation and control. The filing indicates that if the NeoRe Option is exercised and a definitive acquisition agreement is reached, NeoRe SpA would receive 6,000,000 restricted common shares of the company, with the potential for an additional 2,000,000 restricted common shares as bonus shares tied to production and timing incentives. Half of the consideration shares are locked up for a minimum of one year from acquisition closing, and the remaining consideration shares and any bonus shares are locked up for a minimum of two years from acquisition closing. The filing was signed by Duncan T. Blount, Chief Executive Officer.

What Was Disclosed

Chilean Cobalt Corp. disclosed a definitive mining option agreement in northern Chile with a payment schedule totaling up to $27,500,000, plus an amendment to its NeoRe rare earth project earn-in agreement extending the option election deadline to March 31, 2027.