VANCOUVER, Nov. 28, 2019 /CNW/ - First Energy Metals Ltd. (CSE: FE) (the "Company) would like to announce it has terminated its option agreement on the Russel Graphite property located in Gatineau area of Quebec and will be returning the property back to the vendor.
Management decision to discontinue the option was based on its desire to focus its efforts on 100% optioned Phyllis Cobalt property in Ontario and with that being said, will continue to work towards furthering its exploration efforts on the Phyllis property. In addition, the Company will not continue to pursue its letter of intent originally signed on September 23, 2019 to acquire Muzhu Mining Ltd.
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 cobalt within its exploration property portfolio in North America. The Company's goal is to acquire prospective technology metals properties and develop them. The Company currently holds an option to acquire 100% interest in Phyllis Cobalt property in Ontario, Canada. 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 Canadian Securities Exchange (CSE) 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 Canadian Securities Exchange (CSE) 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: [email protected]