Medaro Mining Corp. and Eureka Lithium Corp. Sign Letter of Intent to Option Their Lac La Motte Lithium Properties Near Val D'Or, Quebec
Medaro Mining Corp. and Eureka Lithium Corp. Sign Letter of Intent to Option Their Lac La Motte Lithium Properties Near Val D'Or, Quebec
Vancouver, British Columbia--(Newsfile Corp. - December 11, 2023) - Medaro Mining Corp. (CSE: MEDA) (OTC Pink: MEDAF) ("Medaro" or the "Company") is pleased to announce that it has entered into a letter of intent ("Letter of Intent") with respect to an option ("Option") for Eureka to acquire from Medaro Mining Corp. ("Optionor") a 100% undivided interest in and to the mineral claims comprising the Optionor's Lac La Motte Project in the mining area of Abitibi, Quebec ("Property"), subject to a 1% net smelter returns royalty in favor of the Underlying Owner (as defined below) ("NSR").
不列颠哥伦比亚省温哥华--(Newsfile Corp.,2023 年 12 月 11 日)-Medaro Mining Corp.(CSE:MEDA)(场外交易粉红:MEDAF)(”梅达罗“或者”公司“) 很高兴地宣布已签订意向书 (”意向书“) 关于期权 (”选项“) 让尤里卡从梅达罗矿业公司手中收购(”期权或者“) 魁北克阿比提比矿区包括期权人Lac La MotteProject 在内的矿产索赔的 100% 不可分割权益 (”财产“),前提是冶炼厂返还特许权使用费的净额为1%,以利于相关所有者(定义见下文)(”NSR“)。
Figure 1: Lac La Motte Drill Hole Location Map
图 1:Lac La Motte 钻孔位置图
Medaro's CEO Michael Mulberry stated, "We are excited to welcome a partner of the stature of Eureka Lithium Corp. to further develop the Lac La Motte project. I know they are committed and eager to develop the property further. Brining on a solid partner like Eureka is another way for Medaro to further its commitment of developing highly prospective Lithium properties in Quebec, and advance our stable of projects."
Medaro首席执行官迈克尔·马尔伯里表示:“我们很高兴欢迎像尤里卡锂业公司这样有声望的合作伙伴进一步开发Lac La Motte项目。我知道他们坚定不移地渴望进一步开发这处房产。聘请像尤里卡这样的坚实合作伙伴是Medaro进一步履行其在魁北克开发极具前景的锂资产的承诺并推进我们稳定的项目的另一种方式。”
Under the Letter of Intent, Eureka will have an exclusive dealing period of 30 days during which it may conduct due diligence with a view to negotiating and entering into a definitive agreement ("Definitive Agreement") with the Optionor pursuant to which it would acquire the Option to acquire a 100% undivided interest in and to the Property, subject to the NSR, by satisfying each of the following conditions:
根据意向书,Eureka将有30天的独家交易期,在此期间,它可以进行尽职调查,以期谈判和签订最终协议(”最终协议“) 向期权人收购期权,根据该期权,它将通过满足following 的每一个条件来收购该房产的100%不可分割权益,但须遵守NSR:
Issuing to the Optionor 200,000 common shares of Eureka ("Common Shares") on the effective date of the Definitive Agreement ("Effective Date");
Incurring exploration expenses in respect of the Property totalling $500,000 by the date that is 12 months from the Effective Date;
Paying, on behalf of the Optionor, $45,000 in cash to the underlying owner ("Underlying Owner") of the Property by May 6, 2024;
Issuing to the Optionor 300,000 Common Shares by the date that is 12 months from the Effective Date;
Incurring additional exploration expenses in respect of the Property totalling $500,000 by the date that is 24 months from the Effective Date;
Paying, on behalf of the Optionor, $50,000 in cash to the Underlying Owner by May 6, 2025; and
Issuing to the Optionor 1,000,000 Common Shares by the date that is 24 months from the Effective Date.
向期权持有人发行20万股尤里卡普通股(”普通股“) 关于最终协议的生效date (”生效日期“);
date 自生效之日起 12 个月为该物业承担的勘探费用总额为 50 万美元;
代表期权人向标的持有人支付45,000美元的现金(”底层所有者“) of the Propertyby May6,2024 年;
在date 之前,即自生效之日起 12 个月内,向期权持有人发行30万股普通股;
截至生效之日起24个月之日,该物业的额外勘探费用总额为50万美元;
在2025年5月之前,代表期权人向标的拥有者支付5万美元的现金6; 和
自生效之日起24个月内,通过date 向期权持有人发行100万股普通股。
The issuance of any Common Shares will be made pursuant to applicable exemptions from the registration and prospectus requirements under Canadian securities and corporate laws, and such Common Shares will be subject to a hold period of four (4) months and one (1) day from the date of issuance.
根据Canadian 的注册和prospectus 要求,任何普通股的发行都将按适用的exemptions 进行pursuant证券和公司法,此类普通股的持有期为自发行之日起四(4)个月零一(1)天。
The Letter of Intent is non-binding, except for provisions relating to the exclusive period of dealing and the right of Eureka to conduct a due diligence review, as well as certain other customary provisions.
意向书不具约束力,与专属交易期和尤里卡进行尽职调查审查的权利有关的条款以及某些其他惯例条款除外。
About Lac La Motte
关于 Lac La Motte
The Lac La Motte Property is located in the prolific mining area of Abitibi, Quebec, 40 kilometers Northwest of the city of Val-d'Or. There are several active lithium prospects/mines at various stages of exploration and development located approximately 5 km to 20 km from the Property.
Lac La Motte Property 位于魁北克省阿比提比的多产矿区,位于瓦勒多尔市西北 40 公里处。有几个活跃的锂勘探/矿山处于不同的勘探和开发阶段,位于距离该物业约5公里至20公里的地方。
Recent Highlights from 2022 Drill Program:
2022 年钻探计划的最新亮点:
- Drill Hole MD22-02 Intersected a 0.7 m wide pegmatite with 0.89% lithium oxide (Li2O) at 72.7 m drilled depth.
- Drill Hole MD22-05 Intersected three pegmatites: top 0.79 m wide with 1.34% Li2O at 13.18 m depth; middle 0.7 m wide with 0.5% Li2O at 20 m depth; lower 0.81 m wide at 0.78% Li2O at 22.92 m depth.
- Drill Hole MD22-06 Intersected three pegmatites: top 0.11 m wide with 1.10% Li2O at 31.95 m depth; middle 0.87 m wide with 1.01% Li2O at 34.53 m depth; lower 0.80 m wide at 0.55% Li2O at 37.58 m depth.
- Drill Hole MD22-07 Intersected 1.76 m wide pegmatite with average 4,375 ppm Li / 0.94% Li2O.
- Drill Hole MD22-08 Intersected two pegmatites: Upper 1.33 m wide with 1.49% Li2O at 36 m depth; and lower 0.93 m wide at 0.88% Li2O at 41.2 m depth.
- Drill Hole MD22-17 Intersected a 3 m wide pegmatite with 1,080 ppm Li at 46.9 m depth.
- MD22-02 钻孔在 72.7 米的钻孔深度处与一块 0.7 米宽的伟晶岩相交,含有 0.89% 的氧化锂 (Li2O)。
- MD22-05 钻孔与三块伟晶岩相交:顶部宽 0.79 米,深度为 13.18 m,Li2O 为 1.34%;中部 0.7 m 宽,20 m 深度为 0.5% Li2O;下部宽 0.81 米,深度为 22.92 m,Li2O 为 0.78%。
- MD22-06 钻孔与三块伟晶岩相交:顶部宽 0.11 米,深度为 31.95 m,Li2O 为 1.10%;中部 0.87 m 宽,34.53 m 深度为 1.01% Li2O;下部宽 0.80 m,深度为 0.55% Li2O。
- MD22-07 钻孔与 1.76 m 宽的伟晶岩相交,平均含有 4,375 ppm Li/0.94% Li2O。
- MD22-08 钻孔与两块伟晶岩相交:上部宽 1.33 米,36 m 深度为 1.49% Li2O;下部 0.93 m 宽,41.2 m 深度为 0.88% Li2O。
- MD22-17 钻孔在 46.9 米深度处与一块 3 米宽的伟晶岩相交,锂含量为 1,080 ppm。
Qualified person
合格人员
Afzaal Pirzada, PGeo, a qualified person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
PGeo的Afzaal Pirzada是符合国家仪器43-101——矿业项目披露标准的合格人士,已经审查并批准了本新闻稿中包含的科学和技术信息。
About Medaro Mining Corp.
关于梅达罗矿业公司
The company is a lithium exploration company based in Vancouver, B.C., and holds options over the Superb Lake lithium property located in Thunder Bay, Ont.; Darlin, Rapide, Pontax and the CYR South lithium properties in Quebec; and the Yurichson uranium property in the Athabasca basin, Saskatchewan. The company is a party to a joint venture agreement that engages the company in the development and commercialization of a new process to extract lithium from spodumene concentrate.
该公司是一家总部位于不列颠哥伦比亚省温哥华的锂勘探公司,持有位于安大略省桑德贝的Superb Lake锂矿产、魁北克的达林、拉皮德、庞塔克斯和CYR South锂地产以及位于萨斯喀彻温省阿萨巴斯卡盆地的尤里希森铀矿产的期权。该公司是合资协议的当事方,该协议要求公司开发和商业化一种从锂辉石浓缩物中提取锂的新工艺。
For more information please contact:
Michael R. Mulberry
Chief Executive Officer
Email: michael@medaromining.com
778 855 5001
欲了解更多信息,请联系:
迈克尔·R·马尔伯里
首席执行官
电子邮件:michael@medaromining.com
778 855 5001
Cautionary Statement
警示声明
Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, such as statements regarding the Option, including whether the parties will enter into the Definitive Agreement, and if so, on what terms, the payments and expenditures required to exercise the Option and the timing thereof, and statements contained within the Corporate Video and Corporate Presentation. Such forward-looking statements reflect management's expectations and are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release are reasonable, but no assurance can be given that these expectations will prove to be correct, nor that the Definitive Agreement will be entered into or that the Option will be acquired or exercised as contemplated, or at all. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.
本新闻稿中包含的某些声明,包括可能包含 “期望”、“预期”、“打算”、“计划”、“相信”、“估计” 或类似表述等词语的声明,以及与非历史事实有关的事项的陈述,例如有关期权的陈述,包括双方是否会签订最终协议,如果是,行使期权所需的付款和支出以及行使期权的时间安排,以及企业视频和公司演示文稿中包含的声明。此类前瞻性陈述反映了管理层的预期,基于某些因素和假设,涉及已知和未知的风险和不确定性,可能导致实际业绩、业绩或成就与此类前瞻性陈述所表达或暗示的未来业绩、业绩或成就存在重大差异。应仔细考虑这些因素,读者不应过分依赖公司的前瞻性陈述。公司认为,本新闻稿中包含的前瞻性陈述中反映的预期是合理的,但无法保证这些预期会被证明是正确的,也无法保证最终协议将签订,也无法保证期权将按预期收购或行使,或者根本无法保证。除非法律明确要求,否则公司没有义务公开发布未来对前瞻性陈述的任何修订,以反映本新闻发布之日之后的事件或情况或反映意外事件的发生。
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
加拿大证券交易所(CSE)尚未审查、批准或不批准本新闻稿的内容。
To view the source version of this press release, please visit
要查看本新闻稿的源版本,请访问