Nex Trading Symbol – Tgi.h True Grit Enters into an Option Agreement to Purchase the Az Lithium Project
True Grit Resources Ltd.
Suite 404 – 999 Canada Place
Vancouver, British Columbia V6C 3E2
Telephone: (604) 662-3230
Fax: (604) 682-4309
NEX TRADING SYMBOL – TGI.H
TRUE GRIT ENTERS INTO AN OPTION AGREEMENT TO PURCHASE
THE AZ LITHIUM PROJECT
Vancouver, B.C. – October 26, 2018, True Grit Resources Ltd. (“True Grit”) is pleased to announce that on
October 11, 2018, the Company entered into an earn-in option agreement (the “Agreement”) on a high quality
lithium project with Barrel Energy Inc. (OTCQB: BRLL) (“Barrel”).
Under the terms of the agreement, Barrel has the option to acquire up to 100% of True Grit’s option on the L.G.
lithium brine project in Safford, Arizona.
The option is exercisable in tranches upon meeting certain exploration project related expenditure thresholds as
follows: (1) an initial 49% interest will be earned upon Barrel contributing US$400,000; (2) a 70% interest will
be earned upon Barrel expending US $1,000,000 on project related expenses; and (3) the balance of the interest
will be earned upon Barrel expending an aggregate of US$2,400,000 on project related expenses.
The first payment of US$400,000 is due within 30 days of signing the Agreement. True Grit will be the operator
of the exploration program and will hold a 5% royalty on any production from the project. The Agreement is
subject to the approval of the TSX Venture Exchange.
“True Grit is very excited to work with Barrel and proceed with the drilling of our project. We have identified 4
drill ready targets based on MMI and historical information to help us best define the LI Brine targets” states
Byron Coulthard.
About True Grit
True Grit is engaged in the business of acquiring, exploring and developing hi ghly prospective mineral
properties in North America. True Grit’s portfolio includes lithium, cobalt and gold.
TRUE GRIT RESOURCES LTD.
Byron Coulthard
President
This release includes certain statements that may be deemed to be "forward-looki ng statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statem ents in this release, other than
statements of historical facts, that address future production, reserve po tential, exploration and development
activities and events or developmen ts that the Company expects, are forward-looking statements. Although
management believes the expectatio ns expressed in such forward-looki ng statements are based on reasonable
assumptions, such statements are not guarantees of future performance, and actual results or developments may
differ materially from those in the forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market prices, ex ploration and development
successes, continued availability of capital and financing, and general economic, market or business conditions.
Please see our public filings at www.sedar.com.
Neither the TSX Venture Exchange nor it s Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.