Lithium Corporation and Surge Battery Metals Inc Increase Holdings at San Emidio Lithium-in-Brine Prospect
Elko, Nevada--(Newsfile Corp. - September 21, 2021) - Lithium Corporation (OTCQB: LTUM) ("LTUM" or "the Company"), a North American corporation focused on energy metals for the growing energy storage sector and high-tech industries, wishes to announce it recently entered into an option agreement with Surge Battery Metals Inc. (Surge) (TSXV: NILI) (OTCQB: NILIF), whereby Surge may earn an 80% interest in Lithium Corporation's San Emidio Lithium-in-Brine property in Washoe County, Nevada. In support of this agreement, and in anticipation of increased activity in the project area, the companies recently increased the claim holdings in the prospect area to 5,560 acres.
Under the terms of the agreement, Surge will make staged cash and share payments, and incur $1,000,000 in exploration expenditures in order to earn an undivided 80% working interest in the prospect. The full terms of the agreement are outlined in the September 20th press release, and LTUM's 8-K filing.
Lithium Corporation has maintained the property since 2010 and recovered up to 80 mg/l Li from near surface brine samples. Tom Lewis, Lithium Corporation President and CEO, recently stated, "I'm delighted to be able to enter into an agreement with the Surge team that could conceivably culminate in development of the property, and look forward to working with them as the property is advanced."
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for energy storage related resources throughout North America, and looking to capitalize on opportunities within the ever-expanding next generation energy storage markets. Website: www.lithiumcorporation.com.
Tom Lewis, CEO
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Lithium Corporation (OTCQB: LTUM) 1031 Railroad St. Ste 102B Elko NV 89801 (775) 410-5287 www.lithiumcorporation.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97089