Lithium Lion Enters into Binding Letter of Intent for the Boulder Creek Property
NEWS RELEASE
LITHIUM LION ENTERS INTO BINDING LETTER OF INTENT FOR
THE BOULDER CREEK PROPERTY
Vancouver, British Columbia / February 12, 2024 – Lithium Lion Metals Inc . (“Lithium Lion” or the
“Company”) (CSE: LLM) (OTC: GLIOF) (FWB: 2BC), is pleased to announce the Company has entered
into a binding Letter of Intent (the “LOI ”), dated February 12, 2024, with Tubutulik Mining Company LLC
(“TMC”) for the Boulder Creek Property (the “Property”).
Under the terms of the LOI, the Company shall have the exclusive opti on (the “Option”) for a peri od 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 (the “ Definitive
Agreement”);
- $50,000.00 on the first anniversary of the Definitive Agreement; and
- $100,000.00 on the second to tenth anniversary;
(collectively, the “Option Payments”).
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 Comp any
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 $100,000.00 per year,
for a period of ten years as an advance royalty paym ent pursuant to the 1.00% Buyback. A finders fee is
payable to Robert Weicker in an amount equal to 7.00% per Option Payment will also be applicable.
Lithium Lion is currently conducting technical due diligence on the Property, and upon satisfactory results,
expects to enter into the Definitive Agreement within 60 days. The Company looks forward to updating
shareholders and the public on further developments in due course. All dollar figures disclosed in this press
release are in USD$.
About Lithium Lion Metals Inc.
Lithium Lion Metals Inc. is a mineral exploration company actively involved in exploring the 13N Project
which consists of 59 mining claims covering approximately 3,107 hectares located in Bartouille and Ducros
townships in Quebec. For more information please visit: https://www.lithuimlionmetals.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
David Beck Interim Chief Executive Officer
Head Office 305-1770 Burrard St. Vancouver, British Columbia, V6J3G7
Telephone +1 (604) 416 0569
Website www.LithiumLionMetals.com
Email [email protected]
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the
accuracy or adequacy of this release.
Forward-Looking Statements
This news release contains “forward -looking information” within the meaning of applicable Canadian
securities legislation. Often, but not always, forward-looking information and information can be identified by
the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain
actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Actual
future results may differ materially. In particular, this release contains forward-looking information relating to
the Company's expected benefits of the Transaction and opportunities which will arise from the acquisition of
the Property. The forward-looking information reflects management's current expectations based on
information currently available and are subject to a number of risks and uncertainties that may cause outcomes
to differ materially from those discussed in the forward -looking information. Such risk factors may include,
among others, but are not limited to: general economic conditions in Canada and globally; industry conditions,
including governmental regulation and environmental regulation; the availability of capital on acceptable
terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition
for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions;
geological, technical, processing and transportation problems; changes in tax laws and incentive programs;
failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Although the
Company believes that the assumptions and factors used in preparing the forward -looking information are
reasonable, undue reliance should not be placed on such information and no assurance can be given that such
events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ
materially from current expectations include: (i) adverse market conditions; and (ii) other factors beyond the
control of the Company. New risk factors emerge from time to time, and it is impossible for the Company’s
management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s
business or the extent to which any factor, or combination of factors, may cause actual results to differ from
those contained in any forward-looking information. The forward-looking information included in this news
release are made as of the date of this news release and the Company expressly disclaims any intention or
obligation to update or revise any forward-looking information whether as a result of new information, future
events or otherwise, except as required by applicable law. Additional information identifying risks and
uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities
regulators, which are available at www.sedarplus.ca.