ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) signed an asset purchase agreement dated April 29, 2026 to acquire interests in three lithium properties in Nevada from private companies, according to a company statement.

The acquisition includes the Spark South lithium property with 297 claims in Elko County, Nevada, located adjacent to Surge Battery Metals Inc.'s Nevada North Lithium Project. ExGen will also acquire options for the Libra lithium project with 107 claims in Esmeralda County and the Augusta lithium project with 32 claims in Churchill County.

Under the purchase agreement, ExGen will issue 21 million shares to one vendor at closing, with 18 million shares distributed to that vendor's shareholders. The company will pay CAD$125,000 in cash, including a CAD$75,000 deposit already paid and CAD$50,000 due at closing.

To acquire full ownership of the Spark South and Libra properties, ExGen must pay the third-party optionor US$225,000 in annual tranches of US$75,000 beginning January 21, 2027, and incur US$1.45 million in exploration expenditures by January 21, 2029. Additional payments up to US$8 million may be required if specific mineral resource thresholds are met.

For the Augusta project, ExGen needs only to pay US$30,000 by May 12, 2026, with no work commitments required.

The transaction requires TSX Venture Exchange acceptance and third-party approvals. Closing is expected within 10 business days of conditional exchange approval or by June 30, 2026.

Jason Riley, ExGen's chief executive officer, stated the acquisition expands the company's position in Elko County's lithium district, citing neighboring Surge Battery's preliminary economic assessment showing an 11.2 million tonne lithium carbonate equivalent resource with US$9.17 billion after-tax net present value.