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USCM Enters Into Exploration and Option Agreement on McDermitt Lithium East Project
Positions USCM with exposure to two leading lithium basins in Nevada (Clayton Valley and McDermit...
About this update from Us Critical Metals Corp.
[{"type":"text","content":"USCM Enters Into Exploration and Option Agreement on McDermitt Lithium East ProjectPositions USCM with exposure to two leading lithium basins in Nevada (Clayton Valley and McDermitt Basin). Nevada is the only lithium producing state in the US.1McDermitt Caldera includes Thacker Pass, a construction stage project that is positioned to be the first lithium clay producing asset in the US2. McDermitt Caldera is potentially the largest source of lithium clays in the world.McDermitt Lithium East Project spans 6,508 acres of Bureau of Land Management claims with a preliminary surface sample of 1,907ppm lithium.Occupies a geologically strategic position on the margin of the McDermitt caldera similar to that occupied by the Thacker Pass project1, which is 19 kilometers to west. Provides USCM additional project optionality with minimal initial cash outlay and earn-in expenditures over time to advance the project. Team positioned to fast-track field studies required to refine and permit targets.Vancouver, British Columbia--(Newsfile Corp. - September 18, 2023) - US Critical Metals Corp. (CSE: USCM) (OTCQB: USCMF) (FSE: 0IU0) (\"USCM\" or the \"Company\") is pleased to announce that it has, along with its wholly-owned subsidiary, US Energy Metals Corp. (\"USEM\"), entered into an Exploration and Option to Enter Joint Venture Agreement dated September 15, 2023 (the \"Option Agreement\") with respect to the McDermitt Lithium Project in Nevada (the \"Project\" or \"MLEP\") with Live Energy Minerals Corp. (\"LIVE\"), a public British Columbia company listed on the Canadian Securities Exchange (the \"CSE\") and its wholly-owned Nevada subsidiary, Lithium Valley Holdings Corp. (\"LVH\"), providing the Company with the option to acquire up to a 50% interest in the Project and a further option to acquire an additional 25% interest for an aggregate total of 75% interest in the Project (the \"Transaction\").Transaction HighlightsUpon the Earn-In Right (as defined herein) being obtained by USEM, this Transaction further advances USCM's business model to explore a portfolio of unique assets within the US. Subject to the completion of this Transaction, USCM will have exposure to two of the most advanced lithium basins in the US. This includes the Clayton Valley, the only lithium producing basin in the US and the McDermitt Basin, the first potential basi...