ACME Lithium Inc. announced that it has entered into an option agreement with Eagle Battery Metals Corp. ("EBM"), pursuant to which ACME will grant EBM the sole exclusive option to acquire the 100% undivided interest (subject to a retained royalty) in the mineral claims held by ACME at its Fish Lake Valley lithium project, located in Esmerelda County, Nevada. ACME's Fish Lake Valley lithium project is comprised of 207 lode mining claims totaling approximately 4,139 acres located in Esmereld County, Nevada.

To the east, the property neighbors Ioneer's Rhyolite Ridge world class Lithium-Boron Project. EBM can exercise the option by paying a total of USD 1,475,000, issuing shares of EBM worth an aggregate of USD 3,300,000, and incurring a total of USD 500,000 in exploration and development expenditures over an eighteen-month period. Should EBM begin commercial production on any part of the Property, they will pay ACME a royalty calculated at 1.0% of the Net Smelter Returns (NSR).

In addition, all proceeds from metals or commodities produced prior to EBM exercising the option or before commercial production commences will be paid to ACME. EBM has the right, at any time prior to commencing commercial production from the Fish Lake Valley Project, to purchase one-half of the NSR from ACME in consideration for a one-time cash payment of USD 1,000, or alternatively, to purchase the whole NSR from ACME in considerations for a one-time cash payments of USD 2,000,000.