Core Insights - ExGen Resources Inc. has signed a binding letter of intent to acquire three lithium properties in Nevada, significantly expanding its lithium interests in the region [1][3][7] - The acquisition includes the Spark South property, adjacent to Surge Battery Metals Inc.'s Nevada North Lithium Project, which is known for its high-grade lithium resources [1][4][7] - The deal also encompasses the Libra and Augusta lithium projects, providing exposure to additional lithium districts in Nevada [3][11] Company Overview - ExGen Resources Inc. is focused on accelerating project development through joint ventures and partnerships, aiming to reduce technical and financial risks while maintaining upside potential [9] - The company currently holds seven projects across Canada and the U.S., with a strategic emphasis on lithium resources in Nevada [9] Acquisition Details - The Binding LOI involves acquiring the Spark South property (409 claims), Libra lithium project (107 claims), and Augusta lithium project (32 claims), along with a 1.5% NSR on mineral production from 111 claims [3][11] - ExGen will issue 21 million shares to the vendors, with 18 million shares distributed to the vendor's shareholders post-closing, and a cash payment of CAD $125,000 [11][12] Market Context - The lithium sector in Nevada has gained significant investor interest, particularly due to developments like Lithium Americas Corp.'s Thacker Pass project [2][7] - ExGen's CEO believes that the Elko County lithium district represents one of the highest-grade lithium opportunities in North America, with potential for significant industry development [6][7]