American Salars to Acquire up to 100% of the Petawaga Lithium-Niobium-Uranium Project, Quebec

Core Viewpoint - American Salars Lithium Inc. has entered into a Mineral Claims Option Agreement to acquire up to a 100% interest in seven mineral claims for the Petawaga Lithium–Niobium–Uranium Project located in Québec [1][6]. Project Overview - The seven claims cover approximately 411 hectares and include the historical Petawawa River showing, which had a bulk sample of 45 kg returning 3.4% Nb2O5 and 0.65% U3O8 [2][3]. - The project is situated in the Grenville Geological Province, known for its pegmatites and the presence of minerals such as samarskite, euxenite, thorianite, columbite, and lepidolite [3]. - The area around Mont-Laurier is recognized for hosting uranium pegmatites and recently identified niobium and REE-bearing dykes, indicating a favorable geological context for mineral emplacement [3]. Transaction Terms - The Option Agreement allows the company to earn a 100% interest in the claims through total cash payments of C$120,000 over three years [6][8]. - Payment structure includes an initial C$5,000 upon signing, followed by additional payments at specified intervals until the total is reached [8]. Qualified Person - Technical data disclosed in the news release has been reviewed and approved by Isabelle Robillard, a qualified person as defined by National Instrument 43-101 [9]. Company Background - American Salars Lithium focuses on exploring and developing high-value battery metals projects to cater to the growing electric vehicle market [10].