First Energy Metals (CSE: FE) (OTCQB: FEMFF), a publicly traded Canadian mineral exploration company, has signed a purchase agreement to acquire the Electron Lithium Project near its flagship Augustus Lithium Property in Quebec, Canada. First Energy made the agreement, which includes 417 mining claims covering 12,769 hectares of prospective land around the Augustus project, with a group of vendors. The claims include the former Preissac Molybdenite mine and Moly Hill molybdenite deposit, along with two claim blocks located directly adjacent to the east and west of the Authier Lithium deposit of Sayona Mining Ltd. The company is now in the process of gathering key historical exploration and other information on the new claims. In a related release, Globex Mining Enterprises Inc. (TSX: GMX) announced that it has acquired a 0.5% gross metal royalty (“GMR”) on 417 claims in Preissac, La Motte and Fiedmont townships, all located in Quebec. The transaction involved First Energy Metals and a group of “prospectors.” According to the announcement, Globex vended 18 claims to First Energy in exchange for $30,000 and 375,000 First Energy shares payable over a 12-month period. “We are very pleased to strengthen our land position near our Augustus Lithium Property,” said First Energy Metals CEO Gurminder Sangha in the press release. “As the result of our successful 2021 exploration program at the Augustus Lithium property First Energy is pleased to strengthen its land holdings in this key region. The size of the Augustus property is now over 27,000 hectares, which greatly boosts the company’s footprint in this growing Lithium District.”
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About First Energy Metals Limited
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. The company’s goal is to identify, acquire and explore North American mineral prospects in the technology metals, precious metal and base metal sector. Its strategy is to acquire and advance projects through prospecting and early-stage exploration; source joint venture partners to finance future exploration and project development; and create shareholder value through exploration success. First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time. For more information about the company, please visit www.FirstEnergyMetals.com.
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