Western Troy Pivots to Lithium via Investment IN Lithium Focused LI3 Resources Inc.
WESTERN TROY PIVOTS TO LITHIUM VIA INVESTMENT IN LITHIUM FOCUSED LI3
RESOURCES INC.
Investment to Acquire 50% Interest in Li3 Resources Represents a Major Milestone and
Pivot of the Company’s Exploration Strategy to Lithium
Toronto, Canada April 26, 2022 - Western Troy Ca pital Resources Inc. (TSXV WRY)
(the “ Company”) is pleased to announce it has entered into an equity subscri ption agreement (the
“Investment Agreement”) with Li3 Resources Inc. (“ Li3”) dated April 25, 2022 whereby the Company
will acquire 500 common shares (the “Li3 Shares”) in the capital of Li3 at a price of US$600 per Li3 Share
for a subscription price of US$300,000. Upon issuance of the Li 3 Shares, the Company will hold fifty
percent (50%) of the outstanding Li3 Shares.
About Li3
Li3 is a private, lithium focused exploration company founded a nd backed by senior mining executives
who have had prior success in the lithium sector. Li3 recently entered into an agreement to acquire up to a
50% interest in the Zimbabwe Mutare Lithium Project (the “ Mutare Lithium Project ”) from London
AIM-listed Premier African Minerals Limited (“ Premier”). The Mutare Lithium Project is the first of a
number of targeted lithium acquisitions by Li3. Li3’s corporate plan is to acquire an attractive portfolio of
highly prospective lithium exploration projects worldwide. Li3 ’s senior management have successfully
executed similar transactions during their past 30+ year history in the mining sector.
Zimbabwe – Mutare Lithium Project
Li3 Resources has agreed to invest US$250,000 into the Mutare L ithium Project for ongoing exploration
works, environmental and technical studies and any administrative expenses (the “Spend”). Li3 will have
until the December 31, 2022 to invest the Spend to exercise the option to acquire the 50% interest in the
Mutare Lithium Project. Premier originally acquired the Mutare Lithium Project from Lithium
Consolidated Ltd on July 28, 2020. The 1,500 hectares of licen ces are retained within the Mutare
Greenstone Belt, located close to the eastern border with Mozam bique. The area was deemed prospective
for LCT-type pegmatites based on prior target generation work.
Stephen Dunn, CEO commented, “The investment in Li3 represents a first lithium investment for the
Company and a key milestone in the Company’s strategy to diversify into lithium and other battery metals.
Li3’s Mutare Lithium Project is located in a region in Zimbabwe that is receiving significant interest in
both Lithium and potential gold deposits. The claim blocks are well located, and in several instances, have
already attracted interest from international lithium producers . We are also currently evaluating other
lithium investments worldwide.”
About Western Troy
Western Troy has been engaged in mineral exploration and mine d evelopment, as well as reviewing
potential alternatives to enhance shareholder value. This is the Company’s first lithium exploration focused
investment. It hopes to invest in additional lithium projects in the future.
Contact Information:
Western Troy Capital Resources
Stephen Dunn, CEO
Tel: 416-361-2827
Email: [email protected]
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