VANCOUVER, BC / ACCESSWIRE / June 6, 2024 / Apex Critical Metals Corp. (CSE:APXC)(OTCQB:APXCF) ("Apex" or the "Company"), is pleased to announce that the Company has entered into an Earn-In Option Agreement ("the Agreement") with Discovery Lithium inc. ("Discovery Lithium") and DG Resource Management LTD. ("DG Resource") on the West James Bay property portfolio. The portfolio includes the Mantle, Cirrus East, Cirrus West, Neptune, Alto, Opus and Bruce Lake projects located within the James Bay Region.
Key Terms of the Transaction
Upon and subject to the terms of this Agreement, Apex and DG Resource will grant Discovery Lithium the sole and exclusive right and option to acquire, as to 40% from DGRM and as to 40% from Apex, an undivided 80% Earned Interest in the Mantle, Cirrus East, Cirrus West, Neptune, Alto, Opus and Bruce Lake projects, free and clear of any Encumbrance, subject only to the Royalty. To maintain the Option in good standing, Discovery Lithium will make a share issuance within 5 days of signing the agreement of 5,000,000 shares, and a incur a minimum expenditure of $1,000,000 on or before the date that is six (6) months from the effective date.
Project Portfolio
Mantle and Bruce Lake Project(s): Situated within the Yasinski Lake Greenstone Belt, the Mantle Project aligns with several significant lithium discoveries. Spanning 5049 hectares (~12476 acres) across 89 claims in the James Bay area, Quebec, the project is adjacent to recent LCT Pegmatite discoveries of Q2 Metals Corp and Ophir Gold Corp. This under-explored region has seen a surge in LCT Pegmatite exploration, with several active exploration projects within the area.
Bruce Lake, lies immediately north of Q2 Metals Corp. Mia Project, where recent drilling identified several spodumene bearing pegmatites.
Cirrus East Project: The Cirrus East Project, less than 3 km from newly discovered Spodumene-bearing pegmatites, comprises 44 claims across 2252 hectares (~5565 acres) within the James Bay area. The easternmost claims are in close proximity to the Cancet West lithium pegmatite discovery of Fin Resources Ltd. (ASX) and approximately 15 km from the Warhawk Pegmatite of James Bay Minerals (ASX).
Cirrus West Project: Comprising 333 claims across 16953 hectares (~41892 acres) within the James Bay area, the Cirrus West Project is proximal to several known lithium occurrences, including the Warhawk Pegmatite. The project is underlain by favourable host lithology, including metasediments and metavolcanics of the Lac Guyer greenstone belt.
Neptune Project: Known for its anomalous lithium in stream/sediment samples, the Neptune Project consists of 78 claims across 4009 hectares (~9906 acres) within the James Bay area. The region hosts several tourmaline-bearing pegmatites and is home to notable lithium explorers such as Azimut Exploration Inc. and Brunswick Exploration Inc.
Alto Project: Situated less than 10 km from recent pegmatite discoveries, the Alto Project comprises 79 claims across 4136 hectares (~10221 acres) within the James Bay area. The project is west of Ophir Gold Corps Pilipas Project and Quebec Precious Metals newly discovered Ninaaskumuwin spodumene pegmatite, which is described as a 175-meter long by 42-meter wide outcrop.
Opus Project: Located just north of Lebel-sur Quevillon village, the Opus Project consists of 61 claims across 3413 hectares (~8434 acres) within the James Bay area. The project is within a short distance of the 1055 road and is crossed by a forest path. Historical geochemical data show 18 lithium anomalies up to 963 ppm within and near the property.
The Company is also pleased to announce it has signed an agreement with Zimtu Capital Corp. (TSXV:ZC);(FSE:ZCT1) ("Zimtu") whereas Zimtu shall provide the Company services under the ZimtuADVANTAGE program.
ZimtuADVANTAGE is a program designed to provide opportunities, guidance, cost savings and assistance to clients covering multiple aspects of being a public company. The services of this program include the following: Zoom with Zimtu; Zimtu Connect - all major news/events/important updates sent to email distribution list, Lead Generation campaigns; Blog Posts; Digital Awareness campaigns; Influencer Marketing; Social Media Distribution of company news/important updates through Zimtu accounts including Twitter, Facebook, LinkedIn, YouTube & Instagram; Rockstone Reports & Distribution; Video News Releases - major news releases will be translated to video format, which will be distributed on all social media platforms and to Zimtu Connect subscribers; and Zimtu Question Period. The agreement is considered to include investor relations services under TSX Venture Exchange policy 3.4.
Under the terms of the agreement, the Company will pay Zimtu $12,500 (plus GST) per month for a period of twelve months amounting to an aggregate of $150,000 (plus GST) for the duration of the one-year term. The agreement is being filed with the TSX Venture Exchange.
Qualified Person; Historical Estimates
The technical content of this news release has been reviewed and approved by Jody Dahrouge, P. Geo., who is an independent Qualified Person (QP) as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Project Portfolio, particularly regarding historical exploration, neighbouring companies, and government geological work.
This news release includes market and industry data obtained from publicly available sources and other sources believed by the Company to be true. Although the Company believes it to be reliable, the Company has not independently verified any of the data from third-party sources referred to in this news release or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying assumptions relied upon by such sources. The Company does not make any representation as to the accuracy of such information.
About Apex Critical Metals Corp.
Apex Critical Metals Corp.is a Canadian exploration company specializing in the acquisition and development of high potential rare earth elements (REE's) and niobium properties. Apex Critical Metals is publicly listed on the CSE, and its common shares currently trade under the symbol "APXC".
On Behalf of the Board of Directors APEX CRITICAL METALS CORP.,
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include statements with respect to the anticipated timing for the Company‘s shares to begin trading under the new name and trading symbol. Forward-looking statements are subject to various known and unknown risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company, including, but not limited to, the receipt of regulatory approval for the change of name and trading symbol. 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. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
