Business
Amendment to Option Agreement Between M3M and Surge
Vancouver, British Columbia--(Newsfile Corp. - September 21, 2023) - M3 Metals Corp. (TSXV: MT) ...
About this update from M3 Metals Corp.
[{"type":"text","content":"Amendment to Option Agreement Between M3M and SurgeVancouver, British Columbia--(Newsfile Corp. - September 21, 2023) - M3 Metals Corp. (TSXV: MT) (FSE: XOV) (\"M3 Metals\" or the \"Company\") is pleased to announce that the Company and Surge Battery Metals Inc. (\"Surge\") have entered into an amendment (the \"Amendment\") of their option and joint venture agreement (the \"Option Agreement\") which was disclosed in the Company's news release dated July 26, 2023 and whereby the Company optioned certain claims (the \"M3M Property\") to Surge. Material terms and conditions of the Option Agreement are disclosed in the July 26, 2023, news release.The Amendment concerns a number of claims (the \"Disputed Claims\") totaling approximately 800 acres in the northeastern part of the M3M Property. The Company has become aware of a dispute regarding ownership of the Disputed Claims. The Amendment provides that the Option Agreement continues to be of full force and effect with the Company being obligated to defend title to the Disputed Claims and pay costs associated with the defense. The Company has been advised that Surge does not view the Disputed Claims as material to the M3M Property. Surge has advised the Company that it does not view the Disputed Claims as material to the M3M Property as they are in the northeastern part and cover unfavourable Paleozoic sediments on the east and a rhyolite flow-dome complex on the west. Neither of these rock units, it is believed, are likely to host the lithium rich claystone that is the target in the main part of Surge's existing claims. The Option Agreement and the Amendment are subject to the approval of the TSX Venture Exchange. Adrian Smith, P.Geo., is a Qualified Person as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and the Professional Engineers & Geoscientists Newfoundland & Labrador (PEGNL) as a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.ABOUT M3 METALS CORP.M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information ...