April 7, 2020 / Vancouver, BC / NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt OGPN), the Company is pleased to announce it has fulfilled the 2020 property obligations under the purchase option for the Hombre Muerto North Lithium Project, located in Salta Province, Argentina. The Company has paid $ U.S. 1 million and issued 2,250,000 common shares to the underlying owner as per the terms of the option agreement.
The HMN Project is strategically located in the Hombre Muerto Salar, an area of active lithium production by FMC at the Fenix lithium mine, some 12 kilometers south of the project area. The project is surrounded by ground now under development by POSCO, a Korean based lithium producer. The Company has completed significant exploration at the project including a resource calculation announced December 14th, 2018, and the completion of a Preliminary Economic Assessment published August 12th, 2019. Two pumping wells are installed at the project on the Tramo Claim.
On behalf of the board of directors of NRG Metals Inc.:
Adrian F. C. Hobkirk
President and Chief Executive Officer
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The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
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