Pinnacle Minerals Limited (ASX: PIM) has announced a binding agreement to acquire eight critical minerals projects in the United States. Pinnacle Minerals is a technology minerals exploration company focused on discovering and developing high-quality battery and technology metals projects. The acquisition includes antimony, gold, and silver projects located in two established mining regions across Idaho and Washington State.
The portfolio consists of six projects in Idaho surrounding Perpetua Resources’ Stibnite Project, within a similar structural corridor and geological characteristics. One notable asset is the Thunder Mountain Project, credited with approximately 20,000 ounces of historical gold production. The remaining two projects are located in historic mining districts in Washington State, all benefiting from existing infrastructure and past production evidence. Pinnacle has also received firm commitments for a placement to raise $3 million from sophisticated and professional investors.
The acquisition aligns with Pinnacle’s U.S. strategy to develop domestic critical mineral assets and strengthen the U.S. defence supply chain. The company believes this positions them to potentially benefit from FAST-41 permitting and U.S. Department of War funding to accelerate development of domestic critical minerals supply chains. Pinnacle intends to commence on-ground exploration in Q4 2025, including geological mapping, sampling, and geophysics, and advance permitting and environmental baseline work to support future drilling.
The company has entered into a binding agreement to acquire Idaho Antimony Critical Minerals Pty Ltd, an entity that has a binding option to acquire 100% of the shares on issue in Idaho Antimony Corp. Completion is subject to shareholder approval in a general meeting, and completion of due diligence by the Company which remains ongoing. Pinnacle’s strategic move comes at a time when the sector is experiencing growth, with many U.S. critical minerals companies trading at record highs.
