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][11]. - 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 [11]. Lithium Market Context - Lithium prices have recently reached two-year highs, increasing 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].

Core Viewpoint - Sienna Resources Inc. has entered into a joint venture with Cruz Battery Metals Corp. and Adelayde Exploration Inc. to explore lithium brine potential in Clayton Valley, Nevada, amidst rising lithium prices and increased investor interest in junior mining stocks [1][2]. Group 1: Joint Venture Agreement - The joint venture involves sharing costs, expenses, liabilities, and benefits among the three parties, with each holding a one-third beneficial interest in the mineral claims [3][5]. - Each party will contribute one-third of the costs for exploration and development programs and will receive one-third of the benefits and liabilities [10]. - Parties can exit the joint venture with 30 days' written notice, after which they will no longer be entitled to any benefits or liabilities [10]. Group 2: Market Context and Strategic Importance - Lithium prices have increased over 150% in the past six months, contributing to a favorable environment for junior mining stocks [2]. - The joint venture consolidates mineral claims in the only lithium brine basin currently in production in the U.S., enhancing appeal for larger partners and increasing drilling opportunities [2]. - Sienna's management is optimistic about the potential for significant discoveries, given the current high lithium prices and the company's financial position with over 40 million shares outstanding [2]. Group 3: Company Overview - Sienna Resources focuses on lithium assets in Nevada, including the Elko Lithium Project and the Cave Creek Lithium Project, which are strategically located near other significant lithium projects [7]. - The company also holds the Deep Basin Lithium Brine Project in Clayton Valley, which provides access to some of the deepest parts of the only lithium brine basin in production in the U.S. [7]. - In addition to its lithium projects, Sienna has a 31,718-acre project in Saskatchewan that is prospective for gold, silver, and copper [7].