Business
Neotech Metals to Acquire a 100% Interest in the Hecla-Kilmer Project from VR Resources Ltd.
Vancouver, British Columbia--(Newsfile Corp. - March 11, 2024) - Neotech Metals Corp. (CSE: NT...
About this update from Vr Resources Ltd.
[{"type":"text","content":"Neotech Metals to Acquire a 100% Interest in the Hecla-Kilmer Project from VR Resources Ltd.Vancouver, British Columbia--(Newsfile Corp. - March 11, 2024) - Neotech Metals Corp. (CSE: NTMC) (OTC Pink: NTMFF) (FSE: V690) (\"Neotech\" or the \"Company\"), a mineral exploration company, is pleased to announce the signing of a non-binding LOI on February 12, 2024 with VR Resources Ltd. (TSXV: VRR), a TSX-V listed company pursuant to which Neotech will have the right to acquire a 100% interest in the Rare-Earth Element (\"REE\"), niobium and phosphate project in northeastern Ontario , with such right being exercisable through the issuance by Neotech of four million common shares over 30 months, to be priced at the Company's then market price, and the payment of $1 million. Reagan Glazier, CEO of Neotech Metals, commented: \"The acquisition of Hecla-Kilmer is highly strategic to Neotech, as it solidifies the Company's position in the REE and Critical Metals sector, adding both a significant, high-quality REE discovery with demonstrated potential, and a large, prospective land package with significant upside potential. Neotech is advancing a multitrack agenda of aggressive exploration and strategic REE district consolidation, and this transaction represents an important step in our path forward.\"Project HighlightsHecla-Kilmer is an early-stage exploration project supported by world-class infrastructure. Situated in Northern Ontario, just 23 kilometers from the Otter Rapids hydroelectric power generating station, along with active rail and highways making for cost-effective field programs, the project is poised for additional drilling and discovery. Hecla-Kilmer Property LocationTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9768/200729_74d7c0498408c87b_001full.jpghttps://vrr.ca/projects/hecla-kilmerQualified PersonThe scientific and technical information contained in this news release has been reviewed and approved by Mr. Ike Osmani, P.Geo., a consultant of the Company, who is a \"Qualified Person\" as defined in NI 43-101. For more Information please contact:Reagan Glazier, Chief Executive OfficerE-mail: [email protected]:+1 403-815-6663About Neotech Metals Corp.Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing valuabl...