VANCOUVER, June 20, 2018 /CNW/ - First Energy Metals Ltd. (TSX V: FE) (the "Company") is pleased to announce that it has signed an option agreement to acquire 100% interest in Highway 95 property ("Highway Property"). The property consists of claim blocks totalling 2,400 hectares land, located in Nye County, Nevada.
Under the terms of the option agreement, the Company can earn 100% interest in the Highway 95 Lithium property by making cash payments, issuing shares and carrying out exploration work as follows;
- $10,000 in cash and issuance of 100,000 common shares of the Company ("Common Shares") as soon as practical following the signing of this agreement and receipt of TSX Venture Exchange approval;
- $20,000 in cash and issuance of 200,000 Common Shares on or before the first anniversary date of this agreement, conditional on exploration expenditures of not less than $50,000 being incurred on or before July 31, 2019; and,
- $40,000 in cash and issuance of 300,000 Common Shares on or before the second anniversary date of this Agreement, conditional on cumulative exploration expenditures of not less than $150,000 being incurred on or before July 31, 2020
About First Energy Metals Limited.
First Energy Metals Limited is a junior resource company engaged in the exploration and development of energy metals such as lithium, cobalt, and graphite within its property portfolio in North America. The Company's goal is to acquire prospective technology metals projects and develop them. The Company currently holds a 100% interest in the Kootenay Lithium Property, an option to acquire 100% interest in Phyllis Cobalt property in Ontario, Canada, in addition to the recently optioned Russel Graphite Property in Gatineau area of Quebec. First Energy Metals Limited (formerly "Agave Silver ") was incorporated on October 12, 1966 in the Province of British Columbia. The Company's common shares trade on the TSX Venture Exchange under the symbol FE and are also listed on the US OTC Markets (Pink) as ASKDF and on the Frankfurt Stock Exchange as A2JC89.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
President & Chief Executive Officer
Neither the Toronto Stock Exchange (TSX) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
This news release may contain forward-looking information (as such term is defined under Canadian securities laws). While such forward-looking information is expressed by the Company in good faith and believed by the Company to have a reasonable basis, they address future events and conditions and are, therefore, subject to inherent risks and uncertainties. The Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities law
SOURCE First Energy Metals Limited
For further information: please contact the Company at: (604) 375-6005