NORTHERN MINERALS & EXPLORATION LTD. 8-K

What Happened Northern Minerals & Exploration Ltd. (NMEX) announced on June 2, 2026 (Memorandum of Understanding dated May 20, 2026) that it will acquire a 5.4165 net mineral acre leasehold in Garvin County, Oklahoma associated with the proposed Bosworth 0203 1H-27X well. Total consideration is $21,666, split between $10,833 in cash (due on or before July 31, 2026) and $10,833 payable by issuance of 216,660 shares of NMEX common stock. The leasehold interest is expected to be delivered at a 77% net revenue interest.

Key Details

• Seller/partner: R.A. Miller Energy, Inc. (RAM); MOU executed by the parties on June 2, 2026 (dated May 20, 2026).
• Purchase price: $21,666 total — $10,833 cash (due by July 31, 2026) + $10,833 in stock (216,660 shares).
• Lease size & location: 5.4165 net mineral acres in Sections 27 & 34, T2N R3W, and Section 3, T1N R3W, Garvin County, Oklahoma, related to the Bosworth 0203 1H-27X well.
• Participation requirement: NMEX must participate in the anticipated Oklahoma Corporation Commission force pooling order, make a timely election, and pay its share of estimated drilling and completion costs.
• Stock issuance: 216,660 shares will be issued in a private transaction to persons designated by RAM, exempt from registration under Section 4(a)(2) of the Securities Act.

Why It Matters This is an acquisition of a small mineral lease position tied to a specific well, with payment partly in stock, which slightly dilutes shareholders and commits NMEX to any future drilling/cost obligations required by the pooling order. Investors should note the cash outlay deadline (July 31, 2026), the number of shares to be issued (216,660), the expected 77% net revenue interest, and the requirement to participate and fund the company’s proportionate share of drilling and completion costs under the pooling order.