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Clean Commodities to option 80% stake in 2 lithium projects to Cameo

Cameo Resources Corp. entered into an option agreement with Clean Commodities Corp. to earn an 80% interest in the Dumont and Spodumene Lake lithium projects, collectively called the Whabouchi project in Quebec.

Under the terms of the deal, Cameo is required to pay C$25,000, issue 500,000 common shares and complete C$5 million of exploration work over a four-year period.

Subject to completion of the earn-in, Cameo and Clean Commodities would form a joint venture over the Whabouchi project, with Cameo to serve as the operator, the companies said in same-day separate releases.

The Dumont project spreads over about 14,548 hectares, with Spodumene covering about 4,484 hectares in the immediate vicinity of Nemaska Lithium Inc.'s Whabouchi lithium mine.