The Canadian Chrome Company Inc. Provides Update on the Corridor Claims

Rhea-AI Summary

Canadian Chrome Company (OTC: KWGBF) reported that its request and appeal under sections 73.1 and 185 of Ontario’s Mining Act for relief from forfeitures of its Nakina–Ring of Fire Corridor Claims was declined by the Minister’s delegate.

The company, which had planned to transfer these claims to an indigenous enterprise to provide transportation and electrification services for Ring of Fire access and nearby First Nation communities, is disappointed and is reviewing options and remedies while remaining committed to this plan.

Positive

• Company remains committed to indigenous-led transportation and electrification plan for Corridor Claims route
• Management is actively reviewing legal and strategic options and remedies after the decision

Negative

• Request and appeal for relief from forfeitures of Corridor Claims declined by Minister’s delegate
• Loss of control over Corridor Claims along Nakina–Ring of Fire route currently remains in place
• Setback for planned transfer of Corridor Claims to an indigenous enterprise for infrastructure development

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Toronto, Ontario--(Newsfile Corp. - June 8, 2026) - The Canadian Chrome Company Inc., (CSE: CACR) (CSE: CACR.A) formerly known as KWG Resources Inc. ("CCC" or the "Company") announces that the Company's request and appeal to the Minister under s.73.1 and s.185 of the Mining Act (Ontario) to grant relief from the forfeitures of the Corridor Claims - those mineral exploration claims which run along a route between Nakina, Ontario, and the Ring of Fire which route was first identified by the Company and has now been generally recognized as the best route for road, railroad and electricity systems to get to the Ring of Fire - has been declined by the Minister's delegate.

"We are reviewing this decision by the Minister's delegate and are considering our options and remedies," said Frank Smeenk, Chief Executive Officer of the Company, "We are disappointed in this decision not only for our Company but also for the First Nations of the area as we have been trying to transfer these Corridor Claims to an indigenous enterprise for the development and operation of transportation and electrification services along the route of the Corridor Claims to provide transportation access and electrification services to the Ring of Fire and to several First Nation communities in the area from the provincial highway system, the railway and the Ontario power grid which pass through Nakina, Ontario. We are committed to that plan and are reviewing our options and remedies regarding this decision."

About The Canadian Chrome Company Inc.

The Canadian Chrome Company Inc. is an exploration stage company that is focused on identification, acquisition, consolidation, exploration, development and evaluation of large-scale deposits of minerals including chromite in the Ring of Fire, as well as other base metals and strategic minerals and, where applicable, support for the development of transportation and electrification links to access remote areas where these deposits may be located.

For further information, please contact:
Bruce Hodgman, Vice-President: 416-642-3575  info@canadachrome.com

Forward-Looking Statements: Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.

Disclaimer: Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300505

FAQ

What Corridor Claims update did Canadian Chrome Company (KWGBF) announce on June 8, 2026?

Canadian Chrome Company announced that its request and appeal for relief from forfeitures of the Nakina–Ring of Fire Corridor Claims was declined. According to the company, this decision was made by the Ontario Minister’s delegate under sections 73.1 and 185 of the Mining Act.

What are Canadian Chrome Company’s Corridor Claims between Nakina and the Ring of Fire?

The Corridor Claims are mineral exploration claims along a route between Nakina, Ontario, and the Ring of Fire. According to the company, this route is generally recognized as a leading option for road, rail, and electricity systems serving the Ring of Fire region.

How does the declined Mining Act relief affect Canadian Chrome Company’s Corridor Claims?

The declined relief means forfeitures of the Corridor Claims remain in place. According to the company, its request and appeal under sections 73.1 and 185 of Ontario’s Mining Act were rejected by the Minister’s delegate, creating a setback for its Corridor-related plans.

What were Canadian Chrome Company’s plans for transferring the Corridor Claims to an indigenous enterprise?

Canadian Chrome planned to transfer the Corridor Claims to an indigenous enterprise to develop transportation and electrification services. According to the company, this would support access to the Ring of Fire and provide services to several First Nation communities connected via Nakina’s highway, railway and power grid.

How is Canadian Chrome Company responding to the Corridor Claims decision affecting KWGBF shareholders?

Canadian Chrome is reviewing the decision and considering its options and remedies. According to the company, management remains committed to the planned indigenous-led transportation and electrification project along the Corridor route, despite disappointment with the Minister’s delegate’s ruling.

What role do First Nations play in Canadian Chrome Company’s Corridor Claims strategy?

First Nations are central partners in the company’s Corridor strategy through the proposed indigenous enterprise. According to the company, the project aims to deliver transportation access and electrification services to several First Nation communities in the area, as well as the Ring of Fire region.