VANCOUVER, BC / ACCESS Newswire / January 16, 2025 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic") is pleased to announce another addition to its shares and royalty portfolios by selling Fireweed Metals Corp. ("Fireweed") a 100% interest in the Harvest Project subject to an NSR Royalty. Harvest is located approximately 200 km northeast of Ross River, Yukon and is surrounded by Fireweed's Macpass Project.
Under the terms of the agreement, which is subject to TSX Venture Exchange acceptance, Fireweed has agreed to acquire 100% interest in the Harvest Project, subject to a 2% NSR Royalty on gold and a 0.5% NSR Royalty on silver and base metals, for consideration of $150,000 cash and $210,000 in Fireweed shares based on the closing price of Fireweed shares on the last day of trading prior to closing the transaction. Fireweed has the option to purchase half of the NSR Royalty (1% on gold and 0.25% on silver and base metals) for $1,000,000 at any time following the closing of the transaction. The Fireweed shares will be subject to customary resale restrictions of four-months and one day.
Strategic Metals' growing royalty portfolio covers portions of many active exploration projects being advanced by leading Yukon mining and exploration companies including Fireweed Metals, Snowline Gold, Seabridge Gold, Banyan Gold, Metallic Minerals and Onyx Gold.
About Strategic Metals Ltd.
Strategic is a project generator with 13 royalty interests, 12 projects under option to others, and a portfolio of 85 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.
Strategic has a current cash position of approximately $1 million and large shareholdings in several active mineral exploration companies including 32.8% of Broden Mining Ltd., 33.4% of GGL Resources Corp., 28.0% of Rockhaven Resources Ltd., 16.2% of Silver Range Resources Ltd, and 15.6% of Precipitate Gold Corp. All these companies are engaged in promising exploration projects. Strategic also owns 15 million shares of Terra CO2 Technologies Holdings Inc. ("Terra"), a private Delaware corporation developing a cost-effective alternative to Portland cement, which was recently selected as a recipient of US$52.6 million in non-dilutive funding from the Department of Energy Manufacturing & Energy Supply Chains Office to establish a new manufacturing facility to produce an innovative high-performing Supplementary Cementitious Material in Magna, Utah, USA.
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
http://www.strategicmetalsltd.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Strategic Metals Ltd.
View the original press release on ACCESS Newswire
