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Enter Symbol
or Name
USA
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Altair Resources Inc
Symbol AVX
Shares Issued 16,896,379
Close 2016-06-17 C$ 0.30
Market Cap C$ 5,068,914
Recent Sedar Documents

ORIGINAL: Altair Resources signs LOI to acquire G. Howe Lithium

2016-06-20 11:05 ET - News Release

Received by email:

File: Altair 2016 06 20 Acquisition of G. Howe Lithium Corp..docx


ALTAIR TO ACQUIRE G. HOWE LITHIUM CORP.
 
VANCOUVER, BRITISH COLUMBIA - JUNE 20, 2016:  ALTAIR RESOURCES INC. ("Altair" or the "Company") (TSX V: AVX; Germany F
--->RA: 90A; ISIN: CA02137W1014; WKN: WKN A2ALMP) Mr. John Huguet, Chairman of the Board,  is pleased to announce the sign
--->ing of a Letter of Intent to acquire 100% of the shares of G. Howe Lithium Corp., whose sole asset is the Tilia Lithiu
--->m Property ("Property") in Quebec.  

The Tilia Lithium Property is in the Abitibi area of the Province of Quebec and comprises 38 claims totaling approxima
--->tely 2,092 hectares.  It is located about 30 kilometres (km) southeast of the Amos municipality and 23 km east of the 
--->La Motte municipality and contains significant infrastructure.  Secondary roads allow access to the peripheral and cen
--->tral portions of the Property year round, and a high tension powerline, running north-south, crosses the western side 
--->of the Property.  The western part of the Property is relatively hilly while the eastern part is almost flat.  

There has been limited recent exploration work carried out on the Property.  Geological mapping of the eastern portion
---> of the Property and was performed in 1983.  Several airborne geophysical surveys have covered all or part of the prop
--->erty with their results now publically available.  Between 2001 and 2003 an airborne MEGATEM II electromagnetic survey
---> was completed over the property.  Subsequent to this survey Geotech has completed airborne electromagnetic surveys wh
--->ich included portions of the property.  These surveys will provide a useful dataset for the Company's future explorati
--->on.  

 Multiple lithium showings are present in the vicinity of the Tilia property. About 3km north of the property are the 
--->Quebec Lithium and the Vallee Lithium showings. Less than 9km north-west of the Property are located the Canadian Lith
--->ium, the Martin-McNeely, the Augustus Exploration and the Valor Lithium showings. 13km north-west is the Lacorne Lithi
--->um showing and 14km west of the property is the Lac La Motte showings. Those showings correspond to spodumene or beryl
---> mineralization inside pegmatite dykes.

The main deposit targets on the Property are lithium-rich pegmatites. Economic minerals are beryl (Be), spodumene (Li)
--->, lepidolite (Li, Rb), colombo-tantalite (Nb, Ta) and cassiterite (Sn).  The presence of beryl showings and lithium mi
--->neralization in the vicinity indicates a good potential for the discovery of complex pegmatites and associated lithium
---> mineralization.

The proposed terms of the acquisition of G. Howe Lithium Corp. are the payment of CAD$20,000 and 500,000 common shares
---> of Altair.  The shares are to be issued upon TSX Venture Exchange (the "Exchange") approval.. The proposed acquisitio
--->n is an arm's length transaction and is subject to a definitive agreement.  A finder's fee is payable on this transact
--->ion at an amount to be determined and will be in compliance with the Exchange Policy.  This acquisition and related fi
--->nder's fee remains subject to acceptance of filings with the Exchange.

Said Mr. Huguet,  "The opportunity for growth through these assets creates a good fit with our strategic holdings in Q
--->uebec and a good fit within our acquisition philosophy, in the context of future value to be realized.  The value to o
--->ur shareholders will be delivered through our soon to be announced work programs.  Think Growth, Think Green."  

Mr. C. Ulansky, P. Geo., a Qualified Person, has reviewed and verified the technical content of this release.

To learn more about Altair, please visit www.altairresources.com.

ON BEHALF OF THE BOARD,

"John Huguet"

John Huguet, FCPA, FCMA
Chairman and Independent Director




Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX 
--->Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.




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