Foremost Lithium Resource & Technology Ltd. has announced that it has entered into a binding agreement for the acquisition of 100% right, title and interest in and to those certain undersurface mineral rights comprising Manitoba Mineral Disposition No. MB3530, subject to a 2% net smelter return royalty payable to the Vendor.
MB3530 encompasses 25 hectares (62 acres) situated due North from the Company’s Jean Lake project and due West of the Company’s Zoro project. The Company shall pay to the Vendor on the closing date C$8,000, and issue to the Vendor 18,181 common shares at a deemed price of C$0.33 per common shares.
Technical information contained in this press release has been approved by the Company’s Vice President of Exploration Mark Fedikow P. Geo, who is a “Qualified Person” within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Foremost Lithium is a resource exploration company driven to become one of the first North American Companies to produce high quality battery-grade lithium hydroxide domestically to fuel the electric vehicle and battery storage market. Given the importance and global focus on increasing energy decarbonization, especially when it comes to vehicles. The company is hyper-focused in continued exploration and growth on its four lithium properties, Jean Lake, Grass River, and Zoro located in Snow Lake, Manitoba, and Hidden Lake in the Northwest Territories. Foremost also holds its Winston Gold/Silver Project in New Mexico, USA