Neotech Metals to Acquire a 100% Interest in the Hecla-Kilmer Project from VR Resources Ltd.
Vancouver, March 11, 2024 - Neotech Metals Corp. (CSE: NTMC) (OTC Pink: NTMFF) (FSE: V690) ("Neotech" or the "Company"), a mineral exploration company, is pleased to announce the signing of a non-binding LOI on February 12, 2024 with VR Resources Ltd. (TSXV: VRR), a TSX-V listed company pursuant to which Neotech will have the right to acquire a 100% interest in the Rare-Earth Element ("REE"), niobium and phosphate project in northeastern Ontario , with such right being exercisable through the issuance by Neotech of four million common shares over 30 months, to be priced at the Company's then market price, and the payment of $1 million.
Reagan Glazier, CEO of Neotech Metals, commented: "The acquisition of Hecla-Kilmer is highly strategic to Neotech, as it solidifies the Company's position in the REE and Critical Metals sector, adding both a significant, high-quality REE discovery with demonstrated potential, and a large, prospective land package with significant upside potential. Neotech is advancing a multitrack agenda of aggressive exploration and strategic REE district consolidation, and this transaction represents an important step in our path forward."
Project Highlights
Hecla-Kilmer is an early-stage exploration project supported by world-class infrastructure. Situated in Northern Ontario, just 23 kilometers from the Otter Rapids hydroelectric power generating station, along with active rail and highways making for cost-effective field programs, the project is poised for additional drilling and discovery.
Hecla-Kilmer Property Location
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https://vrr.ca/projects/hecla-kilmer
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Mr. Ike Osmani, P.Geo., a consultant of the Company, who is a "Qualified Person" as defined in NI 43-101.
For more Information please contact:
Reagan Glazier, Chief Executive Officer
E-mail: info@neotechmetals.com
Telephone:+1 403-815-6663
About Neotech Metals Corp.
Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing valuable mineral resources in promising regions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties.
The Company is a mineral exploration company based in Vancouver, B.C., and owns 100% of its TREO Rare Earth Element Property, located 90km northeast of Prince George, British Columbia, and 100% of its Foothills Rare Earth Element Property located in Central British Columbia. The Company also holds options on the EBB nickel-cobalt property in British Columbia, Canada.
Forward-Looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward looking information in this news release includes statements relating to its properties, including in relation to future exploration plans in respect thereof. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including, but not limited to, having obtained all necessary regulatory approvals and access to key consultants and personnel in order to conduct the planned work initiatives. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
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