Lithium Lion Metals Inc. announced that the Company has entered into a binding Letter of Intent (LOI), dated February 12, 2024, with Tubutulik Mining Company LLC (TMC) for the Boulder Creek Property. Under the terms of the LOI, the Company shall have the exclusive option for a period of 10 years to acquire an undivided 100% ownership interest in the Property by paying to TMC: $5,000.00 upon signing of the LOI; $25,000.00 upon entering into a definitive agreement relating to the LOI (Definitive Agreement); $50,000.00 on the first anniversary of the Definitive Agreement; and $100,000.00 on the second to tenth anniversary. The Company shall have the option to accelerate any of the Option Payments, in their sole-discretion at any time during the term of the Definitive Agreement.

The Company will grant TMC a 2.0% net smelter royalty on the Property and any area of interest, as further provided for in the Definitive Agreement. The Company may purchase 1.00% of the NSR from TMC for $1,000,000.00 (the ?1.00% Buyback?). Upon the tenth anniversary of entering into the Definitive Agreement, the Company will pay to TMC $100,000.00 per year, for a period of ten years as an advance royalty payment pursuant to the 1.00% Buyback.

A finders fee is payable to Robert Weicker in an amount equal to 7.00% per Option Payment will also be applicable.