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First Energy Metals Signs Option Agreement to Acquire Lithium Property in Nevada
Jun. 21, 2018 07:41AM PST
Battery MetalsFirst Energy Metals is pleased to announce that it has signed an option agreement to acquire 100% interest in Highway 95 property. The property consists of claim blocks totalling 2,400 hectares land, located in Nye County, Nevada.
First Energy Metals (TSX V: FE) is pleased to announce that it has signed an option agreement to acquire 100% interest in Highway 95 property (“Highway Property”). The property consists of claim blocks totalling 2,400 hectares land, located in Nye County, Nevada.
As quoted in the press release:
Under the terms of the option agreement, the Company can earn 100% interest in the Highway 95 Lithium property by making cash payments, issuing shares and carrying out exploration work as follows;
$10,000 in cash and issuance of 100,000 common shares of the company (“Common Shares”) as soon as practical following the signing of this agreement and receipt of TSX Venture Exchange approval;
$20,000 in cash and issuance of 200,000 common shares on or before the first anniversary date of this agreement, conditional on exploration expenditures of not less than $50,000 being incurred on or before July 31, 2019; and,
$40,000 in cash and issuance of 300,000 common shares on or before the second anniversary date of this agreement, conditional on cumulative exploration expenditures of not less than $150,000 being incurred on or before July 31, 2020
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