New Age Metals Inc. announced that it has signed a final farm-in/joint venture agreement with a wholly owned subsidiary of Australian lithium and iron ore producer, Mineral Resources Limited (MRL). Under the terms, MRL can earn up to a 75% interest in NAM's Manitoba lithium division. MRL has the right to acquire an initial 51% interest by completing CAD 4,000,000 of exploration and development activities and C$400,000 in cash payments within 42 months from the Effective Date MRL can earn an additional 14% interest (65%) by completing a NI 43-101 compliant mineral resource estimate and Pre-Feasibility Study on developing a spodumene concentrate operation at one or more of NAM's Projects MRL can earn an additional 10% interest (75%) by funding the Project to the point of a final construction decision made by MRL NAM shall have the option to complete an initial public offering of NAM's joint venture interest or spinning out NAM's minority joint venture interest into a public vehicle holding such minority joint venture interest and The Manitoba Lithium Division's budget for 2022 is $1.8 million which will include a minimum of 2 drill programs, satellite data acquisition and analysis on all claim areas, helicopter-borne tri-axial magnetic surveying, and a summer mapping and prospecting program.