VANCOUVER, BC / ACCESSWIRE / November 25, 2024 / FE Battery Metals Corp. (CSE:FE) WKN: A3D08G)(OTCQB:FEMFF) (“FE Battery Metals” or the “Company”) is happy to announce the graduation of its 2024 winter diamond drilling program at its 100% owned Augustus Lithium Property, positioned within the Val-d’Or space of Quebec, Canada. The preliminary part of the drill program, contracted to Forage Pelletier Ltd. of Chapais, Quebec, will include 1,000 to 1,500 meters of NQ measurement diamond drilling, with plans to increase meterage primarily based on receiving further drill permits.
The 2024 drilling program will concentrate on step-out drilling on the foremost Augustus zone to additional develop its footprint and discover newly recognized targets close to the North American Lithium Mine (NAL) owned by Sayona . These new targets have been recognized via high-resolution magnetic airborne surveys and on-the-ground prospecting.
As well as, the Firm is happy to announce it has entered into an choice settlement on the Lac Coulombe property to amass 89 mineral claims, masking roughly 5,336 hectares of land positioned roughly 100km south of Quebec Metropolis, Quebec.
Transaction (JO:) particulars:
Pursuant to the Lac Coulombe choice settlement between the Optionor and the Firm, dated November 5, 2024 (“Effective date”), the Firm holds an choice to amass a 100% curiosity within the mining claims by finishing the next widespread share issuances and exploration expenditures as follows:
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Issuing the next widespread shares in its capital inventory to the Optionor, topic to the approval of the regulatory our bodies as follows:
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250,000 shares, issued upon the execution of the choice settlement;
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An extra 750,000 shares issued on or earlier than the primary anniversary of the Efficient Date.
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The Firm incurring the next exploration expenditures on the property as follows:
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$250,000 on or earlier than the primary anniversary of the Efficient Date;
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An extra $1,250,000 on or earlier than the second anniversary of the Efficient Date.
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The Optionor will retain a 1.0 % GMR from any future manufacturing.
The issuance of the widespread shares is topic to acquiring all required regulatory approvals, together with that of the Canadian Securities Trade. The widespread shares might be topic to a maintain interval of 4 months and someday from their date of issuance.
Afzaal Pirzada, P.Geo., Geological Marketing consultant of the Firm and a “Qualified Person” underneath Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks, has reviewed and accredited the scientific and technical data contained on this information launch.
In regards to the Augustus Lithium Property
The Firm holds a 100% curiosity within the Augustus Lithium Property, positioned in Landrienne & Lacorne-Townships, Quebec, Canada. The property spans over 15,000 hectares, consisting of greater than 750 mining claims located roughly 40 kilometers northwest of the city of Val d’Or. The Firm has accomplished intensive exploration actions, together with diamond drilling, metallurgical take a look at work, airborne and floor geophysical surveys, and geochemical sampling on the property.
ON BEHALF OF THE BOARD OF
FE BATTERY METALS CORP.
“Gurminder Sangha”
Gurminder Sangha
CEO & Director
For additional data, please contact the Firm at: information@febatterymetals.com or (604) 375-6005
Neither the Canadian Securities Trade (CSE) nor its Regulation Providers Supplier accepts duty for the adequacy or accuracy of this information launch and has neither accredited nor disapproved the contents of this information launch.
Ahead-looking Data
Aside from the statements of historic truth, this information launch accommodates “forward-looking information” inside the which means of the relevant Canadian securities laws that’s primarily based on expectations, estimates and projections as on the date of this information launch. “Forward-looking information” on this information launch contains the Firm’s data regarding the intentions, plans and future actions of the events to the transactions described herein and the phrases thereon.
The forward-looking data on this information launch displays the present expectations, assumptions and/or beliefs of the Firm primarily based on data at present accessible to the Firm. In reference to the forward-looking data contained on this information launch, the Firm has made assumptions concerning the Firm’s means to acquire required approvals. The Firm has additionally assumed that no vital occasions happen outdoors of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking data are cheap, forward-looking data shouldn’t be a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such data as a result of inherent uncertainty therein.
SOURCE: FE Battery Metals Corp.
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