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Grid Metals Corp. Closes Cad $6.3 Million Funding Agreements With Lithium Royalty Corp.

TORONTO, ON / ACCESSWIRE / January 14, 2022 / GRID METALS CORP. (TSXV:GRDM)(OTCQB:MSMGF) ( "Grid " or the "Company") today announced it has closed its…

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TORONTO, ON / ACCESSWIRE / January 14, 2022 / GRID METALS CORP. (TSXV:GRDM)(OTCQB:MSMGF) ( “Grid ” or the “Company”) today announced it has closed its previously announced financing ( the “Transaction”) with Lithium Royalty Corp. (“LRC”) (a leading pure play battery royalty and streaming company). The Transaction consists of a private placement financing, royalty sales on two properties pertaining to lithium minerals and asset sales of 25% interests in lithium rights on the two properties ( Mayville Lithium and Campus Creek) Total funding to Grid in connection to the proposed Transaction is approximately CAD$6.3 million. The working capital of Grid has increased to approximately $ 8.8 million.

The Transaction

  1. Terms of the proposed private placement portion of the Transaction remain unchanged from those announced on November 17, 2021 and the Company press release of January 4, 2022. The Company has issued 13,962,404 shares in the private placement at an issue price of $0.1182 per share for proceeds of $1,650.356. There are no warrants or finders fees issuable as part of the private placement.
  2. The Company has received aggregate proceeds of US$1.5 million from the sale of 25% interests of the two lithium properties to LRC. The Company received US$1,250,000 for a 25% interest in the lithium rights to the Mayville Property and US$250,000 for a 25% interest in the lithium rights to the newly acquired Campus Creek Property which is located northwest of Thunder Bay. A joint venture for each project has been formed commencing as the date hereof with each party funding their respective ( 75/25 ) interest. A party diluting to less than a 5% interest will convert to a 1% NSR.
  3. The Company has also received US$ 2.25 million from the sale of a 2% gross overriding royalty on lithium and related mineral rights for the two properties.
  4. The Company plans to spend proceeds from the sale of the royalties on lithium exploration. It is the intention of Grid to form a dedicated lithium subsidiary and list or sell the subsidiary later in 2022 ( depending on market conditions and exploration results )

The Mayville Lithium Property comprises the Donner Lake pegmatite field and is located immediately south of the Company’s Mayville Cu-Ni-PGE deposit located in the Bird River Greenstone Belt in southeastern Manitoba. There are numerous documented lithium bearing pegmatite dykes on the Grid LRC property including a historical resource of lithium. Part of the Grid/LRC property comprises claims that Grid acquired from Tantalum Mining Corporation of Canada ( the ” Tanco Claims”) who is the current operating of the Tanco Mine, currently Canada’s only lithium concentrate producer. Tanco has a right to purchase lithium products produced from the Grid/LRC Tanco Claims at commercial terms.

The Bird River Greenstone belt hosts multiple lithium bearing pegmatite fields ( including the Donner Lake pegmatite field on the Grid/LRC Mayville claims ) and the belt has attracted recent investment and exploration activity including from Mineral Resource Limited (ASX:MRL) currently the world’s 5th largest lithium producer who together with New Age Metals Inc. recently completed a drill program adjacent to the Grid/LRC Lithium joint venture. (source NAM press release dated December 9, 2021)

Grids Base Metal and PGE Assets

The Company has pending drill results from its Bannockburn Nickel Project with additional results expected to be released shortly. Further details of exploration plans for both the lithium interests in Manitoba and the Company’s nickel assets will be forthcoming as well. The Company holds valid exploration permits for drilling at East Bull Lake ( palladium), Bannockburn ( nickel ) and Makwa Mayville ( lithium, nickel, copper and platinum group metals ).

ABOUT LITHIUM ROYALTY CORP

LRC is a dedicated battery material investor partnering with battery material companies whose assets exhibit high grade, low cost, and key technical attributes that will help drive this once in a hundred year thematic. LRC is predominantly focused on investing in lithium due to extremely low obsolescence risk. LRC brings a wealth of experience and expertise with industry executives, portfolio managers, geologists, chemical engineers, and others as part of its team. LRC is able to originate and execute niche transactions with the aid of its extensive network with the electric vehicle ecosystem.

For more information about LRC please visit https://lithiumroyaltycorp.com/

ABOUT GRID METALS CORP.

Grid Metals Corp. has a portfolio of exploration and development stage properties focused on battery metals which are located in the Provinces of Manitoba and Ontario, Canada. Grid’s lithium assets are the Mayville Lithium property which covers Donner Lake lithium pegmatites located on the north arm of the Bird River Greenstone Belt and in Ontario the Company has an option on the Campus Creek Lithium Property near Ignace Ontario.

Grid’s base metal PGM properties include the East Bull Palladium Property, the Bannockburn Nickel Property near Timmins ON and the Makwa-Mayville Ni-Cu-PGM-Cobalt project in Manitoba which has a NI 43-101 compliant nickel copper PGM cobalt resource included in a 2014 PEA.

Dave Peck P.Geo is the qualified person for Grid Metals for purposes of National Instrument 43-101 and has reviewed the contents of this press release.

To find out more about Grid Metals Corp., please visit www.gridmetalscorp.com.

On Behalf of the Board of Grid Metals Corp.
Robin Dunbar – President, CEO & Director
Telephone: 416-955-4773 Email: [email protected]
David Black – Investor Relations Email: [email protected]

We seek safe harbour.
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, “forward-looking statements”). Such forward-looking statements include the Company’s closing of the proposed financial transactions, sale of royalty and property interests. the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward- looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company’s Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

SOURCE: Grid Metals Corp.

View source version on accesswire.com:
https://www.accesswire.com/683474/Grid-Metals-Corp-Closes-Cad-63-Million-Funding-Agreements-With-Lithium-Royalty-Corp


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RETRANSMISSION: Sienna Receives Drill Permit for the Blue Clay Lithium Project in the Clayton Valley of Nevada

Vancouver, British Columbia–(Newsfile Corp. – January 24, 2022) – Sienna Resources Inc. (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) ("Sienna" or the…

Vancouver, British Columbia–(Newsfile Corp. – January 24, 2022) – Sienna Resources Inc. (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) (“Sienna” or the “Company”) is pleased to announce that it has received the drill permit for the planned upcoming drill program on the Blue Clay Lithium Project in Clayton Valley, Nevada. This project consists of 94 contiguous claims totaling approximately 1950 acres prospective for lithium.

Jason Gigliotti, President of Sienna Resources, states: “This was the final step needed to start our much anticipated maiden drill program on the Blue Clay Lithium Project right in the heart of the Clayton Valley, the preeminent address for lithium in North America. We anticipate the commencement of drilling shortly, coming at a time when lithium demand and prices are at all-time highs. Nevada has become one of the most sought after lithium addresses in the world, and Sienna is located in multiple locations in this prolific region. Management is very optimistic about the prospects for this project and expects to have a steady flow of news moving forward.”

Figure 1: Clayton Valley, Nevada Lithium Map

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/854/111294_7a089ed0845cb95a_002full.jpg

About Sienna Resources Inc.

Sienna Resources is focused on exploring for and developing high-grade deposits in politically stable, environmentally responsible and ethical mining jurisdictions. Sienna is partnered with a New York Stock Exchange-listed mining company on two separate projects in Scandinavia including the past-producing Bleka and Vekselmyr orogenic gold projects in southern Norway which are both greenstone-hosted gold systems, and the Kuusamo platinum group elements (PGE) project in Finland directly bordering the LK Project being advanced by Palladium One Mining Inc. In North America, Sienna’s projects include the Marathon North platinum-palladium property in Northern Ontario directly bordering Generation Mining Ltd.’s 7.1-million-ounce palladium-equivalent Marathon deposit. Sienna also has the Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nev., home to the only lithium brine basin in production in North America, in the direct vicinity of Albemarle Corp.’s Silver Peak deposit and Tesla Motors Inc.’s Gigafactory and the recently acquired Blue Clay Lithium Project in Clayton Valley Nevada. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the company’s properties.

All matters were voted in favor at the recently held Annual General Meeting, including the re-approval of the Company’s Stock Option Plan with a minor change (the “Amendment”) motioned from the floor to automatically extend the expiry date if the expiry date falls within a blackout period during which the Company prohibits Optionees from exercising their Options. As amended by the Amendment, the expiry date of the affected Options is extended to no later than ten (10) business days after the expiry of the blackout period.

If you would like to be added to Sienna’s email list please email [email protected] for information or join our twitter account at @SiennaResources.

Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
[email protected]

“Jason Gigliotti”
President, Director
Sienna Resources Inc.

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 press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111294









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Core Assets Announces Changes to Management and Advisory Board

VANCOUVER, BC / ACCESSWIRE / January 24, 2022 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(FSE:5RJ)(WKN:A2QCCU)(OTCQB:CCOOF) is pleased…

VANCOUVER, BC / ACCESSWIRE / January 24, 2022 / Core Assets Corp., (“Core Assets” or the “Company“) (CSE:CC)(FSE:5RJ)(WKN:A2QCCU)(OTCQB:CCOOF) is pleased to announce that it has appointed Ms. Monica Barrington as Vice President of Exploration, Mr. Joel Faltinsky as Director, and Mr. David Gower as a Technical Advisor to the Company. The Company also announces the resignation of Mr. Scott Rose as a Director of the Company.

Ms. Barrington is an Atlin-based exploration geologist. She graduated with a Bachelor of Science (Honors) Degree in Earth Sciences from Memorial University of Newfoundland and holds a combined 9 years of experience in research and mineral exploration in Eastern Canada, as well as the Golden Triangle and Atlin Mining Camp of northwest British Columbia. Prior to joining the Core Assets team, Ms. Barrington was employed as Senior Project Geologist with Brixton Metals Corporation where her work focused on the advancement of their porphyry-epithermal and orogenic gold targets in British Columbia. During this time, she was responsible for the planning and management of regional exploration programs, logistics, permitting, and mine compliance for their “Thorn” and “Atlin Goldfields” projects.

Mr. Faltinsky holds a Bachelor of Engineering, Electrical & Electronics from James Cook University in Australia and has over 8 years experience working in the mining and resources sector. He has experience in operations, engineering, project management, and investor relations in Australia and Canada, with companies including BHP Billiton, BHP Mitsubishi Alliance (BMA), Anglo American, Glencore and Peabody. Notably, Mr. Faltinsky worked on-site at South32’s Cannington Mine (then BHP Billiton) which is a leading producer of lead, zinc and silver. Recently, he has served as the Investor Relations Manager for Voltaic Minerals Corporation, a publicly traded company on the TSX Venture Exchange, and is currently Vice President of First Phase Media, a private digital media agency servicing public companies across Canada including mining & exploration, cannabis, tech and healthcare.

Mr. Gower holds a Bachelor of Science degree in Geology from St. Francis Xavier University in Nova Scotia and a Master of Science degree in Earth Sciences from Memorial University of Newfoundland. He has been active in the mineral industry for over 30 years, including positions with Noranda Inc. (now Glencore Canada Corporation) as Manager of Atlantic Canada Exploration, and at Falconbridge Ltd. At Falconbridge Ltd., Mr. Gower served as General Manager of Global Nickel and Platinum Group Metal (PGM) Exploration and as a member of the senior operating team that approved capital budgets for new mining projects. Mr. Gower has been involved in numerous discoveries and mine development projects including at Raglan, Mattagami and Sudbury, Canada, as well as greenfield discoveries in Brazil and Tanzania. He currently serves as the Chief Executive Officer of Emerita Resources Corporation and as a director of Alamos Gold and Exploits Discovery Corporation.

Core Assets’ President and CEO Nick Rodway comments, “Core Assets’ discovery story has been growing rapidly and as a result of this we are continuing to grow our team with young, energetic management backed by an experienced advisory board. We are excited to continue the advancement of the Blue Property in 2022, and to present the remaining results from the 2021 exploration program. We thank Mr. Scott Rose for his help in the initial listing of the Company and his continued support of Core Assets Corp. moving forward.”

Promotional activity

Core Assets has engaged CEO Views to author and publish an overview of the Company and its business and properties. The article is expected to be published in mid-2022 and will be available solely on CEO Views’ website. CEO Views will be paid a cash fee of $9,105.27 for its services. CEO Views is independent to Core Assets.

CEO Views
39304, Geneva Drive, Farmington Hills, MI, 48331.
Phone: +1 (248) 579-8058
E-mail: [email protected]

About Core Assets Corp.

Core Assets is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia, Canada. The company currently holds 100% title ownership in the Blue Property, which covers a land area of ~108,337 Ha (~1,083 km²). The project lies within the Atlin Mining District, a well-known gold mining camp locate in the unceded territory of the Taku River Tlingit First Nation. The Blue Property hosts a structural feature known as The Llewellyn Fault Zone (“LFZ“). This structure is approximately 140km in length and runs from the Tally-Ho Shear Zone in the Yukon, south through the property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980’s. The LFZ plays an important role in mineralization of near surface metal occurrences across the property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits both globally and in BC’s Golden Triangle. The Company has leveraged this information at the Blue Property to tailor an already proven exploration model and believes this could facilitate a discovery. Core Assets is excited to become one of the Atlin Mining District’s premier explorers, where its team believes there are substantial opportunities for new discoveries and development in the area.

On Behalf of the Board of Directors
CORE ASSETS CORP.

“Nicholas Rodway”

President & CEO
Tel: 604.681.1568

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

FORWARD LOOKING STATEMENTS

Statements in this news release which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward looking statements in this news release include that CEO Views will author and publish an overview about the Company, its business and properties as well as its future exploration goals; that the LFZ structural feature on the Blue Property plays an important role in mineralization of near surface metal occurrences across the property; and that the Blue Property has substantial opportunities for a discovery and development. It is important to note that the Company’s actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company’s operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out our plans. The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: Core Assets Corp.

View source version on accesswire.com:
https://www.accesswire.com/685011/Core-Assets-Announces-Changes-to-Management-and-Advisory-Board

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RETRANSMISSION: Spearmint Drills Longest Continuous Clay Intercept to Date on the McGee Lithium Clay Project in Clayton Valley, Nevada

Vancouver, British Columbia–(Newsfile Corp. – January 24, 2022) – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company"…

Vancouver, British Columbia–(Newsfile Corp. – January 24, 2022) – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company” or “Spearmint”) is pleased to announce that the first drill hole (hole #15) of the phase III drill program on Spearmint’s 100-percent owned ‘McGee Lithium Clay Project’ in Clayton Valley, Nevada has encountered 562 feet of continuous potential lithium-bearing claystone, directly bordering Cypress Development Corp. (CYP – TSX.v, CYDVF – USA) and Pure Energy Minerals Limited (PE – TSX.v, PEMIF – USA). To date, this is the longest clay intercept discovered on the ‘McGee Lithium Clay Project’ and the farthest step-out hole to the West, approximately 2,500 feet from any previous drill hole.

On June 11, 2021, Spearmint received the Technical Report on its ‘McGee Lithium Clay Project’ which included a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,006,000 tonnes of lithium carbonate equivalent (LCE). The Technical Report was prepared in accordance with the requirements of National Instrument 43-101 by Stantec Consultant Ltd.’s qualified persons (Allan Turner, PGeol, and Derek Loveday, PGeo). The goal of this drill program will be to increase the maiden resource estimate by following the drilling recommendations provided by Stantec in the Technical Report. Spearmint’s two other lithium projects in Clayton Valley, Nevada include the recently acquired ‘Green Clay Lithium Project’ comprised of 97 contiguous claims totaling approximately 2,000 acres, and the ‘Elon Lithium Brine Project’ which has access to some of the deepest parts of the only lithium brine basin in production in North America. Lithium prices continue to make new all-time highs and have increased by over 500-percent since the start of 2021.

James Nelson, President of Spearmint Resources stated, “We are extremely pleased to have discovered our longest continuous intercept of potential lithium-bearing claystone to date on our flagship project, the McGee Lithium Clay Project in Clayton Valley, Nevada. Not only has hole #15 been our longest clay intercept, but hole #15 is also located the farthest away from any previous drill hole at an approximate distance of 2,500 feet to the West. If this hole runs at economic grades of lithium, similar to what we’ve already drilled, it could potentially increase our resource estimate significantly. This is one of the longest continuous intercepts of claystone reported to date in the Clayton Valley of Nevada. We are off to a fantastic start on this phase of drilling, especially when you consider lithium prices are at all-time highs.”

Figure 1: McGee Lithium Clay Project – Hole #15

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4360/111293_370ec6c6e42aaaa5_002full.jpg

As seen on the map below, Cypress Development Corp. and Spearmint share this blanket-like, lithium-bearing claystone formation that Spearmint’s drill program is targeting. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties.

Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2022/01/09d88aa4775ff84d985e1c6918fe112e.jpg

Figure 2: Clayton Valley Ownership Map

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4360/111293_370ec6c6e42aaaa5_003full.jpg

Qualified Person

Mr. Frank Bain, P.Geo., a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.

About Spearmint Resources

Spearmint’s primary projects include three lithium projects in Clayton Valley, Nevada; the ‘McGee Lithium Clay Project’ which has a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,006,000 tonnes of lithium carbonate equivalent (LCE), directly bordering Pure Energy Minerals & Cypress Development Corp.; the ‘Elon Lithium Brine Project’ which has access to some of the deepest parts of the only lithium brine basin in production in North America; and the recently acquired ‘Green Clay Lithium Project’ comprised of 97 contiguous claims totaling approximately 2,000 acres.

Spearmint’s other primary projects include the ‘Goose’ Gold project directly bordering New Found Gold Corp. where Spearmint has sampled up to 973 ppb gold, and the Perron-East Gold Project consisting of 5 mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of northwestern Quebec in the direct vicinity of Amex Exploration Inc.‘s  Perron property and past-producing Normetal mine. For a complete list of Spearmint’s projects please visit spearmintresources.ca. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties.

If you would like to be added to Spearmint’s news distribution list, please send your email address to [email protected]

Contact Information
Tel: 1604646-6903
www.spearmintresources.ca

“James Nelson”
President
Spearmint Resources Inc.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111293

















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