Vital Metals Limited and Quebec Precious Metals Corporation announced that they have signed a binding term sheet (the "Term Sheet") for the acquisition by VML of QPM's 68% interest in the Kipawa exploration project and 100% interest in the Zeus exploration project (the "Projects"). Joint Venture partner Investissement Québec ("IQ") holds the remaining 32% of the Kipawa project. Kipawa is a heavy rare earths project, located 50km from Temiscaming in Quebec, with a Mineral Resource Estimate of 15.5Mt of eudyalite at 0.434% TREO and 0.873 ZrO 2, 6.3Mt of mosandrite at 0.391% TREO, 1.018% ZrO 2, 5.1Mt of britholite at 0.286% TREO, 0.944% ZrO 2, and with a Proven and Probable Reserve Estimate of 19.8Mt at 0.411% TREO.