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Far Resources enters option over lithium claim in Manitoba

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Far Resources enters option over lithium claim in Manitoba

Far ResourcesLtd. said April 28 that it entered into an option agreement toacquire the Zoro I lithium-prospective claim located in the Snow Lake area ofManitoba.

The company has entered into an agreement with Top NotchMarketing Ltd., R Ross Blusson and Double-U-Em Investments Ltd. to acquire theinterest by paying each of the optionors C$16,666.66 in cash and issuing333,333 common shares.

Far Resources is required to provide a further C$300,000 tothe optionors on the first anniversary of the agreement, and an additionalC$600,000 on the second anniversary.

The company will also finance up to 10 million units at aprice of 5 cents per unit to raise an aggregate total of up to C$500,000.

In addition, Derek Huston resigned as a director of thecompany.