Victory Acquires Smokey Lithium Project in Nevada
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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For Immediate Release
VICTORY ACQUIRES SMOKEY LITHIUM PROJECT IN NEVADA
PROJECT IN PRIME REGION FOR LITHIUM CLAY DEPOSITS - SURROUNDING DEPOSITS
INCLUDE NORAM, CYPRESS, AMERICAN LITHIUM
VANCOUVER, BC, CANADA ( March 18th, 2021) – Victory Resources Corporation (CSE:
VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce that
the Company’s has acquired, in an arms -length transaction, the Smokey Lithium Project,
located in Esmeralda County, Nevada, within Big Smokey Valley.
The Smokey clay lithium project lies approximately 20 miles north of Clayton Valley, and 20
miles west of American Lithium’s flagship lithium project. The property can be accessed just off
a main highway and 2-track dirt road. Esmeralda County Nevada is a prolific region for lithium
clay deposits, (Noram, Cypress, American Lithium, Spearmint, Enertopia, Jindalee).
Lithium is in high demand for its applications in rechargeable lithium-ion batteries for smart
phones and electric vehicles amongst others. Smokey Lithium adds a project to Victory’s
portfolio in a prolific lithium region with respect to clay and brines, adjacent and contiguous to
Jindalee Resources Limited (ASX: JRL). Outcropping clay on Jindalee’s property demonstrates
lithium grades as high as 930 ppm and perhaps trending northwest onto to this property.
Smokey Lithium Project Highlights:
• 350 claims covering 7000 acres with excellent access and relatively flat ground.
• Proven regulatory feasibility with many ongoing exploration projects nearby , including,
(Noram 166 MT @ 900ppm), (Cypress 593 MT @ 1032 ppm), (American Li 495 MT @
1000 ppm)
• Adjacent and contiguous to Jindalee Resources Limited
• Similar geologic setting as Clayton Valley
• Intermittent clay outcroppings demonstrate the clay beds extend far and wide.
• Resource potential in a proven region
Agreement Terms:
The purchase price for the 350 claims:
• Cash of $178,500
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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• Subject to exchange approval, Victory will issue 1,500,000 common shares
• Subsequent to the Closing and transfer of title, annual BLM fees of $57,750
• The property is subject to a net sm elter royalty equal to a 2.0% royalty on revenues
derived from the sale of lithium and other ores extracted from the property
• Victory shall have the right to buy one half ( 1.0%) of the royalty at any time for
$1,000,000 in cash, at Victory’s election
• Victory agrees to pay the vendor $1,000,000 in cash or common shares in 4 staged
payments (90-day intervals), upon completion of a positive feasibility study prepared by
Victory
• Subsequent to available acreage, Victory holds an exclusive option to acquire an
additional 350 claims in the project area surrounding the claims in Esmeralda County for
a total of 7000 additional acres. Upon exercise of this option, Victory will issue an
additional 1,500,000 common shares of its capital and pay $200 per claim and cover
BLM and county filing fees.
Scientific and technical information contained in this press release was reviewed and approved
by Mr. Helgi Sigurgeirson, Victory Geologist, and a "qualified person" under NI 43-101.
For further information, please contact:
David Lane, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: [email protected]
About Victory Resources Corporation
VICTORY RESOURCES CORPORATION (CSE: VR) is a publicly traded diversified investment
corporation with mineral interests in North America. The company is also actively seeking other
exploration opportunities.
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.
Forward Looking Statements
Certain information set forth in this news release may contain forward -looking statements that involve
substantial known and unknown risks and uncertainties. All statements other than statements of historical
fact are forward -looking statements, including, without limitation, statements regarding future financial
position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint -
ventures and strategic alliances and co -operations, budgets, cost and plans and objectives of or involving
the Company. Such forward -looking information reflects management's current beliefs and is based on
information currently available to management. Often, but not always, forward -looking statements can be
identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled",
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number of known and unknown risks, uncertainties and other factors may cause the actual results or
performance to materially differ from any future results or performance expressed or implied by the
forward-looking information. These forward -looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of the Company including, but not limited to, the
impact of general economic conditions, industry conditions and dependence upon regulatory approvals.
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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Readers are cautioned that the assumptions used in the preparation of such information, although
considered reasonable at the time of p reparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward -looking statements. The Company does not assume any
obligation to update or revise its forward -looking statements, whether as a result of new information,
future events, or otherwise, except as required by securities laws.