Vancouver, British Columbia--(Newsfile Corp. - September 21, 2023) - M3 Metals Corp. (TSXV: MT) (FSE: XOV) ("M3 Metals" or the "Company") is pleased to announce that the Company and Surge Battery Metals Inc. ("Surge") have entered into an amendment (the "Amendment") of their option and joint venture agreement (the "Option Agreement") which was disclosed in the Company's news release dated July 26, 2023 and whereby the Company optioned certain claims (the "M3M Property") to Surge. Material terms and conditions of the Option Agreement are disclosed in the July 26, 2023, news release.
The Amendment concerns a number of claims (the "Disputed Claims") totaling approximately 800 acres in the northeastern part of the M3M Property. The Company has become aware of a dispute regarding ownership of the Disputed Claims.
The Amendment provides that the Option Agreement continues to be of full force and effect with the Company being obligated to defend title to the Disputed Claims and pay costs associated with the defense.
The Company has been advised that Surge does not view the Disputed Claims as material to the M3M Property.
Surge has advised the Company that it does not view the Disputed Claims as material to the M3M Property as they are in the northeastern part and cover unfavourable Paleozoic sediments on the east and a rhyolite flow-dome complex on the west. Neither of these rock units, it is believed, are likely to host the lithium rich claystone that is the target in the main part of Surge's existing claims.
The Option Agreement and the Amendment are subject to the approval of the TSX Venture Exchange.
Adrian Smith, P.Geo., is a Qualified Person as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and the Professional Engineers & Geoscientists Newfoundland & Labrador (PEGNL) as a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
ABOUT M3 METALS CORP.
M3 METALS CORP.
Kosta Tsoutsis, CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
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