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Electric Metals Announces Mutual Termination of Altair Resources Option and Acquisition Agreement, Strategic Partnership Opportunities on Nevada Silver Assets, and Board DSU Grants
TORONTO, ON / ACCESS Newswire / July 28, 2025 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) announces the mutual termination of the previously announced option and acquisition agreement (the "Agreement") with Altair ...
About this update from Electric Metals Usa Limited
[{"type":"text","content":"TORONTO, ON / ACCESS Newswire / July 28, 2025 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) announces the mutual termination of the previously announced option and acquisition agreement (the "Agreement") with Altair Resources Inc. ("Altair"), the Company's intention to pursue strategic partnership opportunities on its Nevada silver assets, and the grant of 3,939,740 Deferred Share Units ("DSUs") to members of its Board of Directors.","length":525,"tagName":"p"},{"type":"text","content":"Mutual Termination of Altair Agreement","length":38,"tagName":"p"},{"type":"text","content":"The Company and Altair have mutually agreed to terminate the Agreement, originally announced on November 22, 2023, which contemplated Altair earning up to 100% interest in the Corcoran Canyon silver-gold project, the Belmont silver project and the Belmont North gold-silver project through the acquisition of EML subsidiary, North American Silver Corporation ("NAS"), by making payments to EML and its subsidiary of cash and common shares of Altair ("Altair Shares"), and the expenditure of funds on the Project.The termination took effect on July 25, 2025. No termination fees or penalties were incurred by either party.","length":641,"tagName":"p"},{"type":"text","content":"Strategic Partnership Opportunities - Nevada Silver Assets","length":58,"tagName":"p"},{"type":"text","content":"Following the termination of the Agreement, the Company is actively seeking partners to earn-in or acquire its Nevada-based precious metal assets: the Corcoran Canyon Silver - Gold Project, the Belmont Silver Project and the Belmont North Gold-Silver Project. These projects are located north of Tonopah and east of Round Mountain in Nye County, within the Toquima caldera complex-one of the most highly endowed Au-Ag districts in the U.S. This 30 km-wide zone of nested calderas includes five ore deposits hosting 24 Moz gold and 89+ Moz silver.","length":546,"tagName":"p"},{"type":"text","content":"Corcoran Canyon and Belmont Silver Projects Location Map","length":56,"tagName":"p"},{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1425,"height":704,"url":"https://media.zenf...