TNT Mines Ltd. entered a four-month exclusive, binding agreement to acquire 100% of Metals of Americas LLC, which has mineral leases over the surface and mineral rights to the Pelley Ridge zinc project in Montana.

On securing mineral rights over the project, the company will reimburse US$100,000 of direct project related costs incurred to date by the vendor group on securing the rights.

The Pelley Ridge zinc project encompasses two contiguous leases, Pelly Ridge and Bromley, which cover about 2,000 hectares, according to the Dec. 21 release.

The company has an exclusive period until April 30, 2019, to complete due diligence and finalize a binding deal.