Lithco Signs Option Agreement for Mount Heimdal Graphite Acquisition

Lithium Corporation (OTCBB:LTUM) announced that the company has signed an option agreement for the acquisition of Mount Heimdal Flake Graphite property in British Columbia. The property comprises of 3 claims totaling 1,045 hectares.

As quoted in the press release:

The terms of the option agreement dictate that Lithco spend $15,000 in exploration on the property, and complete an assessment report by 30 November of 2013. Upon successful completion of the program and the report Lithium Corporation will earn a 100% interest in the claims, subject to a 1.5% Net Overriding Royalty to the vendor from the proceeds of production. The Company intends to conduct prospecting and geological field work on this property during the summer of 2013.

Click here to read the full Lithium Corporation (OTCBB:LTUM) press release.