VANCOUVER, June 20, 2018 /CNW/ - First Energy Metals
Ltd. (TSX V: FE) (the "Company") is pleased to announce
that it has signed an option agreement to acquire 100% interest in
Highway 95 property ("Highway Property"). The property
consists of claim blocks totalling 2,400 hectares land, located in
Nye County, Nevada.
Under the terms of the option agreement, the Company can earn
100% interest in the Highway 95 Lithium property by making
cash payments, issuing shares and carrying out exploration work as
follows;
- $10,000 in cash and issuance of
100,000 common shares of the Company ("Common Shares") as soon as
practical following the signing of this agreement and receipt of
TSX Venture Exchange approval;
- $20,000 in cash and issuance of
200,000 Common Shares on or before the first anniversary date of
this agreement, conditional on exploration expenditures of not less
than $50,000 being incurred on or
before July 31, 2019; and,
- $40,000 in cash and issuance of
300,000 Common Shares on or before the second anniversary date of
this Agreement, conditional on cumulative exploration expenditures
of not less than $150,000 being
incurred on or before July 31,
2020
About First Energy Metals Limited.
First Energy Metals Limited is a junior resource company engaged
in the exploration and development of energy metals such as
lithium, cobalt, and graphite within its property portfolio in
North America. The Company's goal
is to acquire prospective technology metals projects and develop
them. The Company currently holds a 100% interest in the Kootenay
Lithium Property, an option to acquire 100% interest in Phyllis
Cobalt property in Ontario,
Canada, in addition to the recently optioned Russel Graphite
Property in Gatineau area of
Quebec. First Energy Metals
Limited (formerly "Agave Silver ") was incorporated on October 12, 1966 in the Province of British Columbia. The Company's common shares
trade on the TSX Venture Exchange under the symbol FE and are also
listed on the US OTC Markets (Pink) as ASKDF and on the Frankfurt
Stock Exchange as A2JC89.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
"Gurminder Sangha"
Gurminder Sangha
President & Chief Executive Officer
Neither the Toronto Stock Exchange (TSX) nor its
Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this news release and has neither approved
nor disapproved the contents of this news release.
Forward-looking Information
This news release
may contain forward-looking information (as such term is defined
under Canadian securities laws). While such forward-looking
information is expressed by the Company in good faith and believed
by the Company to have a reasonable basis, they address future
events and conditions and are, therefore, subject to inherent risks
and uncertainties. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except in accordance with applicable securities
law
SOURCE First Energy Metals Limited