80 Mile Looks to Divest Finnish Non-core Assets

03:20 AM EDT, 10/19/2026 (MT Newswires) -- 80 Mile (80M.L) plans to offload its Finnish license package to monetize its non-core assets and advance its core portfolio in Greenland and Italy, the exploration and development company said Monday. The license package comprises the Hammaslahti copper-zinc project and the Outokumpu copper-volcanogenic massive sulfide project, controlled by the company's unit, FinnAust Mining Finland. Under the non-binding heads of terms signed on Oct. 16, Badlands Resources, the proposed buyer, will pay CA$1 million in cash and issue shares representing a 19.99% stake. 80 Mile will also be eligible to receive CA$4 million in cash and/or stock conditional on certain milestones. The deal remains subject to due diligence, definitive agreements, shareholder approvals, and regulatory clearances.