Grid Battery Metals Update - Drilling Completed on its Clayton Valley Lithium Project

Grid Battery Metals Update - Drilling Completed on its Clayton Valley Lithium Project

Grid Battery Metals Inc. (the "Company" or "Grid") (TSXV: CELL)(OTCQB:EVKRF)(FRA:W47) is pleased to announce that its reverse circulation drilling program has now been completed on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE:ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV:LCE)(OTCQB:CYDVF) proposed 5,430-acre Angel Island Lithium Mine, which recently released a Positive Feasibility Study detailing a 40-year mine life and an after-tax NPV8 of $3.01 billion

Mr. Tim Fernback, Company President and CEO comments "Now that our fall drilling program at our Clayton Valley Lithium Project has been successfully completed, we are eagerly awaiting the lithium assay results from the lab. One of the stated goals of the planned drilling program was to test the depth of the accumulated lithium brine and claystones on our property. With this knowledge, we can propose a significant follow-on exploration program that will work towards an eventual maiden resource calculation and NI# 43-101 Preliminary Economic Assessment. We remain very excited about this opportunity in Nevada for our company and shareholders."

Exploration Images from the Clayton Valley Lithium Project

 
 

Mr. Steven McMillin P.G. comments "We ended the drilling program with our last hole drilled to a depth of 1,160 feet, testing a considerable section of possible lithium bearing sediments on the property. In total, five holes were completed for 4730 total feet. Four holes were originally planned, but a fifth hole (RCV-08) was offset from RCV-06 that was lost at a shallow depth to bad ground conditions. We encountered highly variable drilling conditions in each hole including high water temperatures and volumes. Lithologies were also variable from hole to hole. However, in most holes we encountered evidence of hot spring style alteration within the first 600 feet in the form travertine and tufa. Several heavy clay layers were encountered in most holes that could have originally been tuff units. Our last hole (RCV-08) was terminated by an impenetrable zone of heavy brick red ball clay. In Clayton Valley, sinter, travertine, and tufa are considered surface evidence of geothermal waters that can leach and mobilize lithium from ash layers at depth. Both drill cuttings and water were sent for analysis."

Mr. Fernback continues "The results from the Clayton Valley Lithium Project fall drilling program are expected to arrive in mid-late November."

Area Map (Clayton Valley Lithium Project)

 
 

Qualified Person

Mr. Steven McMillin, P.G. is an independent qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained within this news release.

About Grid Battery Metals Inc. www.gridbatterymetals.com.

Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About Texas Springs Property

The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program at the Texas Springs Property (Fall 2023) yielded average lithium grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to 5,610 ppm Lithium.

The Texas Spring property adjoins the southern border of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. ("Surge") (TSXV: NILI, OTC: NILIF) and comprised of 725 mineral claims. Surge's first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023). More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023). Our exploration results are on-trend with these results.

About Clayton Valley Lithium Project

The Company owns a 100% interest in 113 lithium lode and placer claims covering over 930 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.

About the Volt Canyon Lithium Property

The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.

About the British Columbia Copper Project

The Company acquired a 100% interest in 17 mineral claims comprising 27,525 hectares (approximately 275 km2) located in North Central British Columbia. The region is host to numerous operating mines, good infrastructure including experienced exploration and supporting services. Prominent among early discoveries in the Omineca region include the nearby Lustdust/Stardust Copper - Gold deposit; the Kwanika Copper - Gold deposit and the Lorraine Copper deposit (all of which are owned by (North West Copper Corp. (TSXV:NWST)).

The Company's claims are also located between Centerra Gold Inc.'s (TSX:CG, NYSE:CGAU) prominent Copper/Gold assets, the Kemess North project and the operating Mount Milligan mine, which has produced over 1.8 million ounces of gold and 742 million pounds of copper (Technical Report on the Mount Milligan Mine, November 7, 2022, Borntrager. B, et al.).

On Behalf of the Board of Directors

"Tim Fernback"
Tim Fernback, President & CEO

Contact Information:
Email: info@gridbatterymetals.com
Phone: 604- 428-5690

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company's property(s).

SOURCE: Grid Battery Metals Inc.



View the original press release on accesswire.com

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Grid Battery Closes Acquisition of Copper Property with AC/DC Battery Metals Inc.

Grid Battery Closes Acquisition of Copper Property with AC/DC Battery Metals Inc.

 

(TheNewswire)

 
     
  Grid Battery Metals Inc.. 
          
 

Coquitlam, BC TheNewswire - March 17, 2025 - Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV: CELL, OTCQB: EVKRF FRA: NMK2) announces that further to its news release dated August 29, 2024, and the TSX Venture Exchange's ("Exchange") conditional acceptance letter dated October 9, 2024, the Company has now closed the "related party" transaction subject to final Exchange approval.

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Grid Battery Metals Update - Fall 2024 Drilling Results on its Clayton Valley Lithium Project

Grid Battery Metals Update - Fall 2024 Drilling Results on its Clayton Valley Lithium Project

 

(TheNewswire)

 
     
  Grid Battery Metals Inc.. 
          
 

Coquitlam, BC TheNewswire - January 21, 2025 - Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: W47 ) is pleased to announce the results of its fall 2024 reverse circulation drilling program on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada.  This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine, which recently released a Positive Feasibility Study detailing a 40-year mine life and an after-tax NPV8 of $3.01 billion .

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Grid Battery Metals Drilling Update on its Clayton Valley Lithium Project

Grid Battery Metals Drilling Update on its Clayton Valley Lithium Project

 

(TheNewswire)

 
     
  Grid Battery Metals Inc.. 
          
 

Coquitlam, BC September 26, 2024 TheNewswire Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: W47 ) is pleased to announce that a reverse circulation drilling program is well under way on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada.  This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine.  The Company has completed the drilling of its first hole to a depth of over 870 feet, with the remaining drill holes proposed to a maximum depth of 1500 feet.

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Grid Battery Metals Begins Drilling the Clayton Valley Lithium Project

Grid Battery Metals Begins Drilling the Clayton Valley Lithium Project

 

(TheNewswire)

 
     
  Grid Battery Metals Inc.. 
          
 

Coquitlam, BC TheNewswire - September 12, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: NMK2 ) is pleased to announce that a reverse circulation drilling program is commencing on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada.  This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine.  The Company plans to drill several exploration holes to maximum depths of 1500 ft. in several strategic locations on the property during the month of September.

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Grid Battery Expands Land Holdings by Adding a Copper Project in Northern Central British Columbia

Grid Battery Expands Land Holdings by Adding a Copper Project in Northern Central British Columbia

Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) is pleased to announce the expansion of our exploration land holdings with the inclusion of a new Copper Property, located in Northern British Columbia

The Company has entered into a Purchase and Sale Agreement dated August 26, 2024 (the "Agreement"), with AC/DC Battery Metals Inc. ("AC/DC"), to a acquire a 100% interest in 17 mineral claims comprising 27,525.24 hectares located in North Central British Columbia. The region is host to numerous operating mines, good infrastructure including experienced exploration and supporting services (the "Transaction"). The Transaction is a "related party" transaction and is subject to TSX Venture Exchange ("Exchange") approval.

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Finlay Minerals Ltd. engages Investing News Network

Finlay Minerals Ltd. engages Investing News Network

 
 

   VANCOUVER, BC   ,   July 7, 2025   /CNW/ -  finlay minerals ltd.  (TSXV: FYL) (OTCQB: FYMNF) (" Finlay " or the " Company ") reports that it has engaged Dig Media Inc. doing business as Investing News Network ("INN") for investor relations services.

 
 

  Finlay Minerals Ltd. logo (CNW Group/Finlay Minerals Ltd.) 

 

The Company has engaged INN to provide advertising, profile generation, press release syndication, and lead generation through their website. The contract was entered into on March 31, 2025 with a start date of May 30, 2025 for a 12-month period for total costs of $26,275.20 . There are no performance factors contained in the agreement in respect of INN's engagement, and INN will not receive common shares or options of the Company as compensation. INN's engagement is subject to the approval of the TSX Venture Exchange.

 

INN is a private company headquartered in Vancouver, Canada , and is an arms-length organization to the Company. Neither INN nor any of its principals have an interest, directly or indirectly, in the securities of the Company.

 

  About finlay minerals ltd.  

 

Finlay is a TSXV company focused on exploration for base and precious metal deposits with five 100% owned properties in northern British Columbia : the PIL and ATTY properties in the Toodoggone (13,374 hectares ("ha")), the Silver Hope Cu-Ag Property (21,322 ha) and the SAY Cu-Ag & the JJB Cu Properties (41,655 ha) in the Bear Lake Corridor. Each property is located in areas of recent development and porphyry discoveries with the advantage of hosting the potential for new discoveries.

 

The PIL and ATTY Properties are fully and sole funded by Freeport-McMoRan through 6-year Earn-In Agreements; the JJB, SAY and Silver Hope 2025 exploration programs are fully funded by Finlay.

 

Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com  

 

  On behalf of the Board of Directors,  

 

  Robert F. Brown , P. Eng.
President, Executive Chairman of the Board & Director

 

  Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.  

 

   Forward-Looking Information:    This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, corporate plans. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.  

 

SOURCE finlay minerals ltd. 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/07/c0723.html  

 
 

 

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FPX Nickel Receives Multi-Year Area-Based  Permit and Commences 2025 Drilling Activities at Baptiste Nickel Project

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FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to report that it has received a multi-year area-based (" MYAB ") permit from the government of British Columbia to support the renewal of drilling activities at the Baptiste Nickel Project (" Baptiste " or " the Project ") in 2025.  This year's drilling program has commenced successfully, targeting the completion of geomechanical, hydrogeological, and condemnation holes to complement the Project dataset for the feasibility study and the Company's planned entry into the environmental assessment (" EA ") process in the second half of 2025.

 

 

 

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Questcorp Mining Continues Exploration in Advance of Drilling at the La Union Gold & Silver Project in Mexico

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Questcorp President & CEO, Saf Dhillon, stated: "We are pleased with the progress Riverside has made as we complete the preliminary exploration steps, in finalizing our drill targets for the upcoming maiden drill program at La Union. The decades of in country exploration experience that John-Mark and his Riverside team diligently bring to focus at the La Union project is very evident as they continue to further de-risk the up-coming 1,500 metre drill program."

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[VIDEO ENHANCED] Prismo Metals Options Two High-Grade Silver-Gold Mines in the Arizona Copper Belt - Immediate Exploration Planned

[VIDEO ENHANCED] Prismo Metals Options Two High-Grade Silver-Gold Mines in the Arizona Copper Belt - Immediate Exploration Planned

 

(TheNewswire)

 
       
  Prismo Metals Inc. 
                
 

Vancouver, British Columbia, July 3rd, 2025 TheNewswire - Prismo Metals Inc. (the " Company ") (CSE: PRIZ) (OTCQB: PMOMF) is pleased to announce that it has signed option agreements to acquire 100% interest in two historic high-grade precious and base metal mines — the Silver King and Ripsey mines — both located in Arizona's prolific Copper Belt near its flagship Hot Breccia project.

 

Additional information on the Silver King and Ripsey mines as well as Prismo's other projects (Hot Breccia and Palos Verdes) is available on Prismo's Youtube channel at:   

  

 

  Exceptional Grades and Untapped Potential  

 

Discovered in 1875, the Silver King mine is one of Arizona's most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t. Remarkably, selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains. Additionally, the presence of freibergite (AgCuSbS) suggests a potential for antimony, a critical mineral with growing strategic demand.

 

The Ripsey mine, located 20 km west of Hot Breccia, is also an historic gold-silver-copper producer with significant upside. Historic sampling has returned up to 15.85 g/t gold and 276 g/t silver, yet no modern exploration has been conducted.

 

  Strategic Location — World-Class Neighbors  

 

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world's largest unmined copper deposits with an estimated copper resource of 1.787 billion metric tonnes at an average grade of 1.5% copper (1) . This unique land position is fully surrounded by Resolution Copper's claim block, offering strategic upside.

 

"The Silver King and Ripsey mine projects are exciting additions to our Arizona portfolio. We see an opportunity to create near term value through immediate exploration on a historic high-grade silver producer with antimony potential that has seen limited modern exploration by drilling both laterally and at depth into a prospective source formation, said Gordon Aldcorn, President of Prismo. "We look forward to getting our exploration team back in the field, advancing our exciting projects and revitalizing investor interest in the Company."

 

The Silver King mine was discovered in 1875 and produced ore with as much as 10,000 ounces per ton silver in near surface workings (2) . Underground production through 1889 is estimated at almost 6 million ounces of silver at grades of between 61 and 21 ounces per ton. During a second period of production from 1918 to 1928, 230,000 ounces were produced at a grade of 18.7 ounces per ton.  No significant production has occurred after 1928.

 

The orebody at Silver King is a steeply west-dipping pipelike stockwork and breccia zone that was mined on eight levels to about 300 meters depth below a glory hole at the surface. The pipe is described as a dense stockwork with local breccia zones and a quartz core (3) .  Records indicate that due to variations in mineralogy, much of the upper portion of the body was evidently not mined. The current owners (the " Optionor ") rehabilitated the main shaft in the late 1990s, opened the upper levels of the mine and produced a small tonnage. Assay certificates from this period show selected samples with 400 to 600 ounces per ton silver with 0.2-0.5 oz/t gold and some base metals. Virtually no modern exploration has been carried out at the mine providing significant exploration upside and multiple drill targets.

 

The Ripsey mine is a historic gold-silver-copper producer located about 20 km west of the Hot Breccia project. Historic mine workings consisting of tunnels and shafts on several levels were developed along a vein over about 400 meters of strike length and 160 meters vertically. A small tonnage of mineral was produced by the Optionor in the late 1990's. Sampling by Dr. Craig Gibson from the mine workings has yielded 15.9 g/t gold and 275 g/t silver over 0.75 meters and 8.7 g/t gold, 181 g/t silver, 3% copper and 9% zinc over 1 meter. No modern exploration has been carried out at the project, providing significant exploration upside and multiple drill targets.

 

The Company plans to conduct a detailed mapping and sampling program at both projects at surface exposures and in accessible workings.  A drill program is planned for Silver King, with about 1,000 meters initially. The Silver King drill program is designed to test the mineralized body at four elevations as well as lateral to the pipelike body. De-watering of the Silver King shaft to gain access to the upper levels may also be undertaken as submersible pumps are in place.

 

"This is a fabulous opportunity for the Company. Both projects are high-grade and are easily accessible and may be associated with porphyry copper mineralization. We also look forward to evaluating the potential for antimony at Silver King. We're excited to begin exploration immediately to test the Silver King's pipelike mineralized body at multiple depths and laterally," said Dr. Craig Gibson , Chief Exploration Officer. "This region is world-class for porphyry systems and base and precious metals, and we believe these mines have significant untapped potential."

 

    
Click Image To View Full Size
 

 

Location of the Company's projects withing the Arizona Copper Belt

 

    
Click Image To View Full Size
 

 

Land map of the Silver King mine.

 

    
Click Image To View Full Size
 

 

Drone view of the Silver King mine.

 

     

 

The Silver King mine in the late 1800's.

 

    
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Click Image To View Full Size
 

 

Small scale mining in the upper levels of the Silver King mine in the late 1990's.

 

  Deal description  

 

Prismo has the option to acquire a 100% interest in both the Silver King and Ripsey mines. Prismo can earn a 100% interest in the Ripsey mine by issuing one million shares to the Optionor, paying the Optionor US $10,000 within six months of the signing of the option agreement (the " Effective Date "), US $10,000 on each anniversary of the Effective Date and US $1 million to the Optionor within five years of the Effective Date. Prismo does not have minimum work commitments as part of the Ripsey option agreement.

 

Regarding the Silver King mine, Prismo can acquire a 100% interest in three stages. Prismo must issue one million shares to the Optionor, pay the Optionor US $10,000 within six months of the Effective Date, and US $10,000 on each anniversary of the Effective Date. To earn a first 50% interest, Prismo must incur no less than US $500,000 in expenditures on or before the first anniversary of the Effective Date, incur no less than an additional US $2.5 million expenditures on or before the third anniversary of the Effective Date and issue to the Optionor two million shares. Prismo can acquire an additional 30% interest by incurring no less than an additional US $3 million in expenditures, paying the Optionor US $1 million and issuing to the Optionor two million shares before the fifth anniversary of the Effective Date. Prismo can elect to form a joint venture at anytime after earning it initial 50% interest. The option agreement and joint venture agreement terms and conditions contain standard buyout and dilution terms regarding the final 20% interest.

 

  Private Placement  

 

Prismo is also pleased to announce a non-brokered private placement (the " Private Placement ") of five million units of the Company (" Units ") at an issue price of $0.05 per Unit for minimum gross proceeds of $250,000. Each Unit will consist of one common share in the capital of the Company (a " Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "). Each Warrant will entitle the holder to purchase one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.10.

 

The Private Placement will also be made available to existing shareholders of the Company who, as of the close of business on July 1st, 2025, held Shares (and who continue to hold such Shares as of the closing date of the Private Placement), pursuant to the existing securityholder exemption set out in BC Instrument 45-534 – Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the " Existing Securityholder Exemption "). The Existing Securityholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Securityholder Exemption exceeding the maximum amount of the Private Placement, the Company intends to adjust the subscriptions received on a pro-rata basis.

 

The Units issued pursuant to the Private Placement and the Existing Securityholder Exemption will be subject to a four-month hold period from the closing date of the Private Placement under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.  

 

  The Company intends to use the net proceeds of the Private Placement for general corporate purposes. The Company may pay finder's fees to eligible finders in connection with the Private   Placement, subject to compliance with applicable securities laws and Canadian Securities Exchange policies.  

 

  The securities being offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.  

 

  Debt Settlements  

 

  Prismo also announces that it has entered into debt settlement agreements (the "   Settlement Agreements   ") with certain creditors of the Company (the "   Creditors   ") pursuant to which the Company agreed to issue to the Creditors, and the Creditors agreed to accept, an aggregate of 160,000  shares of the Company (each, a "   Share   ") in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $11,000 (the "   Debt Settlement   ").   All securities issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable policies of the Canadian Securities Exchange.  

 

  Share and Warrants Issuance  

 

  A private company dealing at arms' length with Prismo, its officers and directors, had certain rights into the Silver King and Ripsey mines ("   PrivateCo   "). In consideration for PrivateCo relinquishing its rights in the Silver King and Ripsey mines in favor of the Company, Prismo has agreed, subject to regulatory approval, to issue PrivateCo five million units (the "   Units   "). Each Unit is comprised of one common share (a "   Share   ") and one share purchase warrant (a "   Warrant   "). The Shares will become free trading as to 25% every six months from the Effective Date. Two million of the Warrants will be exercisable at $0.10 ("   First Tranche   ") and three million Warrants will be exercisable at $0.15 ("   Second Tranche   "), all for a period of three years. The shares from the exercise of the Warrants will become free trading as to 25% every six months from the Effective Date. In addition, the exercise of the First Tranche is conditional on Prismo having raised $1.5 million from parties introduced to Prismo by the principals of PrivateCo and the exercise of the Second Tranche is conditional on Prismo having raised $3.0 million from parties introduced to Prismo by the principals of PrivateCo.  

 

  Qualified Person  

 

   Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release. Other than the sampling conducted by Dr. Craig Gibson as indicated herein, the data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans.   

 

  1)     https://resolutioncopper.com/about-us/    

 

  2)   Galbraith, F, 1935, Geology of the Silver King area, Superior, Arizona, Univ. of Arizona thesis, 153p plus plates.  

 

  3)   Blake, W.P., 1883, Description of the Silver King Mine, Arizona, New Haven, 48p plus plates.  

 

  About Prismo Metals Inc.  

 

  Prismo (CSE: PRIZ) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.  

 

  Please follow @PrismoMetals on   ,   ,   ,    Instagram    , and  

 

  Prismo Metals Inc. ,   1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6  

 

  Contact:  

 

  Alain Lambert, Chief Executive Officer    alain.lambert@prismometals.com   

 

  Gordon Aldcorn, President    gordon.aldcorn@prismometals.com   

 

  Cautionary Note Regarding Forward-Looking Information  

 

  This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.  

 

  These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King and Ripsey. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund exploration and the timing of such exploration.  

 

  Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-   looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.  

 

  NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
 

 

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