USCM Amends McDermitt East Option Agreement to Provide for Acquisition of 100% Interest in the Project

Core Viewpoint - US Critical Metals Corp. (USCM) has amended its agreement to acquire a 100% interest in the McDermitt East Lithium Project, enhancing its position in the North American critical minerals sector and aligning with U.S. government priorities to reduce reliance on foreign supply chains [1][3]. Company Overview - USCM, through its subsidiary US Energy Metals Inc. (USEM), is focused on securing U.S. supply chains for critical metals and rare earth elements, with interests in multiple projects across the U.S. [11]. Project Details - The McDermitt East Lithium Project is located in the McDermitt Caldera, a significant lithium district in North America, which is home to some of the largest lithium deposits, including the Thacker Pass project [1][8]. - Previous sampling results at McDermitt East indicated lithium concentrations of up to 2,129 ppm, highlighting its potential as a vital lithium source [2]. Transaction Terms - Under the amended agreement, USCM will make an initial payment of C$25,000 and issue 1,283,000 common shares valued at $0.30 to acquire the first 50% interest, followed by a final payment to secure the remaining 50% [5][6]. - The agreement includes a 2% Net Smelter Return (NSR) royalty in favor of the original stakeholders, with an option for USCM to repurchase 1% of the NSR for CAD $1,000,000 [6]. Management Commentary - The CEO of USCM emphasized that this transaction marks a significant milestone, reinforcing the company's commitment to building a portfolio that supports U.S. supply chains and critical mineral independence [3].