Sorrento Resources Ltd. Announces Purchase Agreement for Lord Baron Project with Naughty Ventures Corp.

Core Viewpoint - Sorrento Resources Ltd. has entered into a purchase agreement with Naughty Ventures Corp. for the acquisition of the Lord Baron property, allowing Sorrento to focus on its other projects [1][2]. Group 1: Purchase Agreement Details - Naughty Ventures will acquire a 100% undivided interest in the Lord Baron Property in exchange for issuing 1,000,000 common shares at a deemed price of $0.18 per share, subject to a 2% net smelter returns royalty [3]. - The acquisition is expected to close in the coming weeks, pending necessary consents and approvals, including from the Canadian Securities Exchange [4]. Group 2: Company Focus and Strategy - Sorrento Resources aims to concentrate on the Bottom Brook Rare Earth Element Project and the Rodgers Cove Gold Project, leading to the decision to monetize the Lord Baron Project [2]. - Naughty Ventures is focused on acquiring and developing mineral assets with strong value potential, and it has a significant equity position in Mammoth Minerals Limited and interests in other mineral projects [6][7].