The Vieux Comptoir Property is located in the
The Property is located along the La
The project area was targeted by the Company and the claims were acquired to obtain a strategic land position within the lithium prospective
- Approximately 45 km east of
Patriot Battery Metals Corvette Project where numerous Spodumene bearing pegmatites have been discovered, and recent drilling includes intersections up to 1.25% Li2O and 194 ppm Ta2O5 over 58.1 m.
(https://patriotbatterymetals.com/portfolio/corvette/)
- Approximately 45km west of Winsome Resources,
Adina Project where early-stage explorations have identified outcropping pegmatites across the property returned results up to 4.89% Li2O.
(https://www.listcorp.com/asx/wr1/winsome-resources-limited/news/exceptional-high-grade-lithium-assays-from-adina-2771971.html)
Pursuant to the terms of the Option Agreement, upon execution of the Option Agreement, Superior shall pay QPC a cash payment of
Under the terms of the Option Agreement, Superior may exercise the option to acquire 100% interest in the Property upon the issuance to QPC of the following share issuances:
- 7,000,000 common shares of Superior (the "Superior Shares") upon receipt of approval of the
TSX Venture Exchange ; - 3,500,000 Superior Shares payable on the one year anniversary of the Option Agreement; and
- 3,500,000 Superior Shares payable on the eighteen month anniversary of the Option Agreement.
The Option Agreement remains subject to the approval of the
Pursuant to the terms of the Option Agreement, in the event Superior exercises its option in full and acquires the Property, Superior shall grant QPC a 3.0% net smelter return royalty (the "NSR Royalty") and the NSR Royalty may be reduced to 1.5% upon Superior making a cash payment of
Dr.
Qualified Person:
ON BEHALF OF THE BOARD
"
Chief Executive Officer and Director
Neither the
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Superior assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
SOURCE
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