21:21:59 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



First Energy Metals Ltd (2)
Symbol FE
Shares Issued 12,551,638
Close 2018-06-20 C$ 0.385
Market Cap C$ 4,832,381
Recent Sedar Documents

First Energy signs option deal to acquire Highway 95

2018-06-20 17:23 ET - News Release

Mr. Gurminder Sangha reports

FIRST ENERGY METALS SIGNS OPTION AGREEMENT TO ACQUIRE LITHIUM PROPERTY IN NEVADA

First Energy Metals Ltd. has signed an option agreement to acquire a 100-per-cent interest in the Highway 95 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 a 100-per-cent interest in the Highway 95 lithium property by making cash payments, issuing shares and carrying out exploration work as follows:

  1. $10,000 in cash and issuance of 100,000 common shares of the company as soon as practical following the signing of this agreement and receipt of TSX Venture Exchange approval;
  2. $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;
  3. $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 Ltd.

First Energy Metals 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 metal projects and develop them. The company currently holds a 100-per-cent interest in the Kootenay lithium property, an option to acquire a 100-per-cent interest in the Phyllis cobalt property in Ontario, Canada, in addition to the recently optioned Russel graphite property in Gatineau area of Quebec. First Energy Metals (formerly Agave Silver) was incorporated on Oct. 12, 1966, in the province of British Columbia.

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