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Dark Horse to acquire Argentine lithium portfolio

Dark HorseResources Ltd. is looking to secure exclusive rights to explore forlithium and other strategic minerals throughout the San Luis and Córdobaprovinces of Argentina.

The company said July 26 that it has entered into amemorandum of understanding for an option to fully acquire Oronegro SA, whichholds the licenses.

Dark Horse is required to make staged payments totalingUS$900,000 over three years and pay an additional US$4,000 per month togenerate new properties for Oronegro.

The company will have the right to move to 100% ownership atany time by paying a total of US$4 million over four years.

Oronegro holds an exclusivity agreement to acquire 100% ofthe Las Cuevas spodumene mine in San Luis province, as well as 36,700 hectaresof exploration license applications over lithium-bearing pegmatite fields inSan Luis and Córdoba.