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First Energy nixes option to acquire Highway 95 lithium property in Nevada

First Energy Metals Ltd. terminated an option agreement to acquire the Highway 95 lithium property in Nevada, it said Oct. 14.

In June, the junior explorer agreed to acquire Highway 95 in a cash-and-stock deal.

The company intends to focus its efforts and resources on the Phyllis cobalt property in Ontario and Russel graphite property in Quebec.

Additionally, the company appointed Lyle McLennan to its board, while it accepted the resignation of director Laurie Stephenson with immediate effect.