MONUMENTAL MINERALS CORP. AMENDS OPTION AGREEMENT WITH LITHIUM CHILE INC. FOR THE SALAR DE TURI PROJECT IN THE LITHIUM TRIANGLE, CHILE

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[{"type":"text","content":"\n \n \n \n MONUMENTAL MINERALS CORP. AMENDS OPTION AGREEMENT WITH LITHIUM CHILE INC. FOR THE SALAR DE TURI PROJECT IN THE LITHIUM TRIANGLE, CHILE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prnml80{\nMARGIN-LEFT:6.67em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 25, 2023\n \n \n /CNW/ - Monumental Minerals Corp. (\"\n \n Monumental\n \n \" or the \"\n \n Company\n \n \") (TSXV: MNRL) (FSE: BE5) (OTCQB: MNMRF) has amended the option agreement (the \"\n \n Option\n \n \n Agreemen\n \n t\") with Lithium Chile Inc. (\"\n \n Lithium\n \n Chile\n \n \n \") (TSXV: LITH) for the Turi property (the \"\n \n Property\n \n \") located within the Lithium triangle about 120 km northwest from the Salar de Laguna Blanca and 60 km northeast from the city of Calama,\n \n Chile\n \n .\n \n \n \n \n \n \n \n \n \n \n Amended Terms of the Option Agreement\n \n \n \n Under the amended terms of the Option Agreement (see the Company's news release dated\n \n October 6, 2022\n \n ), in order to exercise the option to acquire a 50.01% interest in the Turi Project, Monumental must make certain staged cash payments to Lithium Chile and incur exploration expenditures on the Turi Project as follows:\n \n \n (a)  In the event of Monumental entering into a joint-venture agreement with a third party on the Property (the \"\n \n JV Agreement\n \n \"):\n \n \n make cash payments to Lithium Chile of an aggregate of\n \n $700,000\n \n according to the following schedule:\n \n \n (i)\n \n $200,000\n \n within five (5) days of the date on which the Option Agreement and the transaction contemplated herein is accepted for final approval by the TSX Venture Exchange (the \"\n \n Exchange\n \n \") (the \"\n \n Acceptance Date\n \n \") (Exchange approval previously obtained and cash has been paid to Lithium Chile);\n \n \n (ii)\n \n $250,000\n \n within five (5) days of the effective date of the JV Agreement; and\n \n \n (iii)\n \n $250,000\n \n on or before\n \n October 5, 2025\n \n .\n \n \n Incur minim...

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