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Supreme Metals to acquire 2 lithium-prospective properties in Nevada

Supreme Metals Corp. said Feb. 1 that it inked two separate agreements to acquire two lithium-prospective properties, Silver Shadow and Columbus, in Nevada.

The company secured an exclusive option from Anstag Mining Inc. to acquire a 100% undivided interest in and to the 1,600-acre Silver Shadow property, located in the northwest part of the Clayton Valley.

Pursuant to the option deal, Supreme Metals will issue 1 million shares to Anstag within five days of signing, and complete no less than C$1 million of qualified exploration expenditures on the property within three years.

Additionally, Supreme Metals agreed to acquire a 100% undivided interest in the 1,920-acre Columbus property in Esmerelda County, from Doctors Investment Group Inc.

The company will issue 9 million shares to Doctors Investment within five days of signing. The property is subject to a 1% gross overriding royalty, 0.5% of which can be repurchased by Supreme Metals for C$1 million.