Metal Energy Doubles Rig Count at NIV With 4,200m Down and ~4 Weeks of Season Left

Metal Energy Corp. (TSXV: MERG; OTCQB: MEEEF) has mobilized a second diamond drill rig at its NIV copper-gold-molybdenum project in British Columbia's Toodoggone District, doubling capacity for the final stretch of the 2026 field season.

Six holes totalling approximately 4,200 metres have been completed since drilling commenced on June 29, 2026, against a 6,000-metre program target. The September 3, 2026 news release via Newsfile Corp. states the company has approximately four weeks of season remaining.

This is NIV's first-ever drill program. The project covers more than 12,500 hectares and carries a copper-gold-molybdenum target profile. The company describes it as one of the most prospective undrilled copper-gold porphyry projects in British Columbia — a claim that, with no holes in the ground before June 29, was entirely theoretical until this season.

CEO Charlie Greig explained the second-rig decision in the September 3 release: "It will also allow for a more thorough drill test and set Metal Energy up well for an expanded program at NIV in 2027."

The balance sheet supports the acceleration. In the company's February 26, 2026 disclosure, Metal Energy reported over $9 million cash and stated it is fully funded for the entirety of its 2026 exploration programs. Teck Resources and Centerra Gold each hold 9.9% strategic stakes in the company.

The season-compression dynamic at NIV is not isolated. Alaska Silver announced a fully funded, two-rig, 6,000-metre program at its Waterpump Creek project on June 4, 2026, targeting resource expansion at Waterpump Creek, evaluation of the Silver Sage target, and several emerging exploration targets across the broader Illinois Creek district. By August 11, 2026, Alaska Silver announced it intended to increase that program to approximately 9,000 metres — a pull-forward of scope mid-season. Both companies are pushing metres before drill-season close in September–October.

Metal Energy's portfolio extends beyond NIV: the company also controls the Highland Valley Project (copper-molybdenum-silver-gold-rhenium, 100% owned, British Columbia) and the Manibridge Project (nickel-copper-cobalt-PGE, 85% owned, Manitoba). NIV is the active focus this season.

No assay results from the six completed holes have been disclosed in the September 3 release. The next material event is the return of those assays — and whatever meterage the two-rig configuration banks before season close. Greig's mention in the September 3 release of "an expanded program at NIV in 2027" signals the company is already planning beyond this season's results, whatever they show.