St. Anthony Gold Corp. Completes Acquisition of Key Brazilian Lithium and Rare Earth Exploration Licenses
Early Exploration Identifies Pegmatite Outcropping and Historical
Mine Workings Throughout the Licenses in Minas Gerais
VANCOUVER, BC / ACCESSWIRE / December 22, 2022 / St. Anthony Gold Corp. (“St. Anthony”
or the “Company”) (CSE: STAG) (Frankfurt: M1N) (OTC: MTEHF) announces that it has closed its
previously announced (October 21, 2022) transaction with Foxfire Metals Pty Ltd ("Foxfire"), an
arms-length Australian Company, pursuant to which the Company acquired a 75% interest in
eight Brazilian exploration licenses ("the Brazilian Portfolio"); six for lithium and two for rare
earth elements (REE) (the “Brazilian Portfolio”).
The Brazilian Portfolio totals 12,315 hectares of highly prospective lithium and REE exploration
licenses, in the states of Minas Gerais and Bahia for lithium and Goas for REEs. Brazil is now
recognized as one of the world's major high grade lithium producers confirmed by Tesla
(TSLA:NASDAQ) supplier recently securing off take agreements with Sigma Lithium Corporation's
(SGML: NASDAQ) subsidiary Brazilian Sigma Mineração SA (Sigma).
Three of these lithium licences lie within the highly prospective northern portion of the state of
Minas Gerais in the municipality of Padre Paraiso, approximately ~38 Km’s east of Sigma
Lithium’s Grota Cirilo property in Minas Gerais, Brazil. Sigma Lithium recently announced it is on
schedule to make its first shipment of spodumene concentrate in April of 2023 and stands to
become one of the largest and greenest lithium operations in the world.
Minas Gerais state owned Companhia Brasileira de Litio's mining operation, Lithium Ionic (TSX-
V: LTH) and Australian-based Latin Resources Limited (ASX: LRS) have also recently made
significant discoveries in the same, well known lithium district in Minas Gerais.
The initial exploration program commenced December 2022 on the Foxfire licences in Minas
Gerais and has confirmed pegmatite outcropping and historic mine workings where pegmatites
have been mined. The Company has not acquired any historical data on the previous mining
operations, however rock chip and soil samples are being collected and will be forwarded to SGS
laboratories in Brazil to test for LCT pegmatites (lithium, cesium, and tantalum) in line with the
historic production within the district. Results are expected in the 1st quarter of 2022.
The Company will provide further details on the remaining lithium and REE licences in Q1 2023.
Commenting on the transaction, Peter Wilson, CEO of St. Anthony stated, "We are excited about
the acquisition of these highly prospective lithium and rare earth element projects across three
states in Brazil.”
St. Anthony Gold Corp. Completes Acquisition of Key
Brazilian Lithium and Rare Earth Exploration Licenses
2
"Brazil has benefited from several major lithium discoveries, the realization of production and
the fulfilment of multiple off-take agreements. The Foxfire licenses provide an exciting
opportunity for early-stage, green field exploration in a known lithium province, particularly
given their proximity to multiple high-grade lithium discoveries and producers”
Commercial Terms of the transaction allows St. Anthony to acquire an immediate 75% interest
in the Brazilian Portfolio:
• Grant a free carried interest for Foxfire's 25% equity in the Brazilian Portfolio to the end of
a bankable feasibility study.
• A cash payment to Foxfire of $250,000
• Issuing 21,165,000 shares of St. Anthony to Foxfire under agreed escrow terms.
• Maintenance of the existing net smelter and gross sales royalties totalling 2% held by the
original vendors remains, with a buy back provision of 50% for CAD $1,000,000.
• Maintenance of management rights of the project by Foxfire for two years with both
parties to formulate an agreed upon expenditure budget for the period.
• St. Anthony being granted the "first right of refusal" to acquire Foxfire's 25% equity intrest
in the Brazilian Portfolio
3
The technical information contained in this news release has been reviewed and approved by
Dr. Paul Woolrich (BSc Geology, MSc Geochemistry, PhD Metallurgy) who is a Member of the
MAusIMM, Technical Director of Foxfire Metals and a Qualified Person as defined under
National Instrument 43-101.
FOR ADDITIONAL INFORMATION SEE THE COMPANY'S WEB SITE AT
https://stanthonygoldcorp.com
Email to [email protected]
Contact: Peter Wilson CEO - 604-649-0945
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Further information about the Company is available on www.SEDAR.com under the Company’s
profile.
Old workings at
Minas Gerais and
surface explosure
of pegmatities have
been confirmed.
4
Certain statements contained in this release may constitute "forward-looking statements" or
"forward-looking information" (collectively "forward-looking information") as those terms are
used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These
statements relate to future events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar
expressions and statements relating to matters that are not historical facts are intended to
identify forward-looking information and are based on the Company's current belief or
assumptions as to the outcome and timing of such future events. Actual future results may differ
materially. In particular, this release contains forward-looking information relating to the
business of the Company, the Property, financing and certain corporate changes. The forward-
looking information contained in this release is made as of the date hereof and the Company is
not obligated to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by applicable securities.