Evion Gains Option on Nevada Fluorspar Property

Evion Group has secured an option to acquire a majority interest in the Blue Nose property in Nevada, adjacent to its existing Carp project.

Updated on Nov. 2, 2026 in Corporate Finance

Wide photograph of a Nevada basin-and-range valley with dark ridges in the distance and a bare gravel drill pad in the midground under warm late-afternoon light. — Evion Group secured an option to acquire a majority interest in Infrastructure Materials' Blue Nose property in Nevada for US$1.5 million in cash and 4 million shares. AI Illustration. Upload story photo >

Evion Group has entered a binding option and joint venture agreement with Infrastructure Materials to acquire a majority interest in the Blue Nose property in Nevada. The deal includes US$1.5 million in cash and 4 million shares over two years.

Why it matters

The agreement expands Evion's landholding in Nevada and could accelerate resource evaluation using historical drilling material. It supports the company's plan to build an integrated graphite and fluorspar supply chain spanning several regions.

Blue Nose covers 40 claims and sits about 1.2 kilometres northwest of the Carp project, expanding Evion's consolidated holding to 99 unpatented lode claims over roughly 829 hectares. Whether the 5,600 untested samples will confirm commercially viable calcium fluoride grades has not yet been established.

The players

Evion Group

Evion Group is a mineral exploration company pursuing an integrated graphite and fluorspar supply chain across Madagascar, India, Europe and the United States.

Infrastructure Materials Corp.

Infrastructure Materials Corp. is a mining company that conducted drilling and sampling on the Blue Nose property during 2009 and 2010.

The details

Evion can earn up to a 75% interest in non-reserved minerals across the property, with initial consideration of US$250,000 and 1 million shares at closing followed by staged payments. The agreement includes a US$30,000 due diligence payment and a 60-day due diligence period.

Between 2009 and 2010, Infrastructure Materials drilled 63 holes on the Blue Nose property.
Between 1958 and 1971, the Carp pit produced about 44,900 tonnes of material grading around 69% calcium fluoride.
On November 2, 2026, Evion announced the Blue Nose option agreement.
Evion has a 60-day due diligence period following the agreement.
Evion will make staged cash and share payments to Infrastructure Materials over the following two years.

Market Dynamics

The Blue Nose option fits a long-running reliance on imported fluorspar for U.S. industrial supply, and new domestic resource development could reduce that dependence over time. Fluorspar prices are not expected to respond immediately to the deal.

Shareholders in Evion should note the US$1.5 million cash obligation and 4 million share issuance spread over two years, which may affect dilution and cash planning. The results of the 60-day due diligence period and the re-assay of stored samples will determine whether the expanded property proceeds.

The takeaway

Historical drilling data can carry significant value when a company holds stored material never tested for key elements. Re-examining existing samples may be a lower-cost way to evaluate a resource before committing to new drilling.