ACME Lithium Inc. Enters Agreement with Eagle Battery Metals Corp.
ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) has announced a strategic option agreement with Eagle Battery Metals Corp. (EBM). This exclusive agreement grants EBM the option to acquire a 100% undivided interest in the Fish Lake Valley lithium project claims, owned by ACME, located in Esmerelda County, Nevada.
Fish Lake Valley Lithium Project Overview
With 207 lode mining claims over approximately 4,139 acres, ACME’s Fish Lake Valley project lies in close proximity to Ioneer’s Rhyolite Ridge Lithium-Boron Project. The option agreement outlines that EBM can secure the acquisition by making payments totaling USD$1,475,000, issuing EBM shares valued at USD$3,300,000, and undertaking USD$500,000 worth of exploration and development over eighteen months.
Initial Payment: $50,000
Second Payment (four months from signing): $100,000
Exploration and Development Expenditures within the first 12 months: $500,000
Upon US Listing: $450,000 and 675,000 in EBM shares
Third and Fourth Payments, along with corresponding EBM share values, and potential bonuses contingent upon resource estimates.
EBM has additionally secured the rights to purchase a portion of the Net Smelter Returns (NSR) from ACME, ahead of initiating commercial production at Fish Lake Valley.
About Eagle Battery Metals and ACME Lithium
Eagle Battery Metals is a leading private company in lithium exploration and development based in Reno, Nevada. ACME Lithium, steered by an expert team, dedicates itself to battery metal projects, boasting a portfolio that includes interests in Nevada and southeastern Manitoba.
Steve Hanson, CEO of ACME, leads the Board of Directors, advancing the company’s strategic initiatives and stakeholder communications. For investor relations, Anthony Simone of Simone Capital is available for contact.
ACME continues to make strides in mineral exploration, with a focus on sustainable and profitable developments in the battery metal sector.
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