Mr. Reagan Glazier reports
NEOTECH METALS RELEASES VR RESOURSES SHARES FROM ESCROW, RECEIVES FUNDS FROM WARRANT EXERCISE
Neotech Metals Corp. has amended the escrow terms set out in the letter of intent (LOI) dated Feb. 12, 2024, between the company and VR Resources Ltd., with respect to the Hecla-Kilmer (H/K) property, such that all shares issued to VR pursuant to the LOI that were subject to the previous contractual escrow will now be released from escrow and be free trading immediately, replacing the previously stipulated 30-month escrow release period.
The company is also pleased to announce that it has received $133,500 in Canadian funds from the exercise of warrants.
2025 Hecla-Kilmer drill campaign update
Neotech Metals completed approximately 8,000 metres of drilling this year at H/K, as well as relogging and reassaying approximately 1,900 metres of core drilled by the previous owner, VR Resources Ltd., between 2020 to 2023 for the full rare earth suite and is to be included in the maiden resource estimate (MRE), expected to come in 2026.
Assays are currently pending on all samples and will be released upon completion.
About Neotech Metals Corp.
Neotech Metals is a mineral exploration company dedicated to discovering and developing valuable mineral resources within promising jurisdictions 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 has a diversified portfolio of rare-earth element and rare metals projects, including the Hecla-Kilmer, located 20 kilometres from the Otter Rapids 180-megawatt hydroelectric power generation station and active Ontario Northway railway, along with its TREO and Foothills projects located in British Columbia. All three projects are 100 per cent wholly owned.
Qualified person
Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Jared Galenzoski, vice-president of exploration, PGeo, and qualified person, has reviewed and approved all of the data and statements made for this news release.
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