Cruz Battery Metals Enters into Joint Venture Agreement for Deep Basin Lithium Brine Exploration in Clayton Valley, Nevada

Core Viewpoint - Cruz Battery Metals Corp. has entered into a joint venture agreement with Sienna Resources Inc. and Adelayde Exploration Inc. to explore lithium brine potential in Clayton Valley, Nevada, which is significant due to its established lithium production history [1][3]. Joint Venture Agreement - The joint venture involves a total of 115 mineral claims covering 2,300 acres, located within the vicinity of existing lithium deposits [1]. - Each party in the joint venture will share costs, expenses, liabilities, and benefits equally, with a one-third beneficial interest in each mineral claim [7][12]. - The agreement allows any party to exit the joint venture with a 30-day written notice, after which they will no longer be entitled to any benefits or liabilities [12]. Lithium Market Context - Lithium prices are currently at two-year highs, having increased over 150% since June 2025, indicating a favorable market environment for lithium exploration and production [3]. - The Clayton Valley is home to the only long-established lithium brine basin in the U.S., with Albemarle's Silver Peak lithium brine mine being the sole producer since the 1960s [1][3]. Exploration and Resource Estimation - Cruz Battery Metals is also working on a maiden resource estimate for its Solar Lithium Project in Big Smoky Valley, Nevada, with Stantec Consulting Ltd. engaged for this purpose [3]. - The company has discovered lithium in all 14 drill holes during its previous drilling phases at the Solar Lithium Project, which spans 4,938 acres [4].