Altair International Corp. Completes First Stage of Lithium and Rare Earth Project Earn-In with American Lithium Minerals Inc
January 14, 2021 at 08:00 am EST
Altair International Corp. announced that it has completed its Initial Earn-in Option as defined in the definitive agreement (the “Agreement”) with American Lithium Minerals Inc. In seeking to purposefully position itself into the growing Lithium battery market, the Company signed the Agreement on November 24th 2020 with American Lithium that allows Altair the exclusive right to earn in up to a 60% interest in two projects, the Stonewall Lithium Project in southwestern Nevada and the Kingman Rare Earth Project in northwestern Arizona. The Earn-in agreement is granted to Lithium Now, a Nevada based subsidiary of Altair for a primary term of three (3) years in consideration of cash and stepped annual exploration expenditure commitments. The Stonewall Project covers highly anomalous Lithium found within the Nevada lithium supply hub just 191 miles southeast of Tesla's Gigafactory1 and is a near neighbor to the Clayton Valley, the site of Albemarle’s’ Silver Peak Lithium production. The Kingman Rare Earth Project located in Mohave County, Arizona and encompasses past producing mine sited by the Arizona Bureau of Mines as having high grade Rare Earths Elements (REEs).