West Vancouver, BC Canada V73 1C3 T: 604-669-2279 / F: 604-602-1606
Suite 300-1455 Bellevue Ave.
West Vancouver, BC Canada V73 1C3
T: 604-669-2279 / F: 604-602-1606
July 26, 2023
M3 METALS PROVIDES LAKSHMI PROPERTY UPDATE
GRANTS OPTION ON RECENTLY STAKED NEVADA LANDS,
M3 Metals Corp. (TSX-V: MT; FSE: XOVN.F) (“M3 Metals” or the “Company”) is pleased to announce that
the Company has entered into a mineral property option and joint venture agreement (the "Agreement") with Surge
Battery Metals Inc. ("Surge"), a TSX Venture Exchange listed company.
The Agreement grants Surge the option (the "Option") to earn up to an eighty (80%) percent interest in and to the
M3M Lands (as shown in the map below and identified as the M3 Metals Claim Block) by Surge making the following
payments to the Company:
(i) to earn a fifty (50%) percent interest upon Closing in the M3M Lands, Surge must make a cash payment to
the Company of $500,000 and must issue to the Company a total of 2,000,000 of Surge's common shares;
(ii) to earn an additional twenty (20%) percent interest in the M3M Lands, Surge must make a cash payment to
the Company of $250,000, issue to the Company a total of 2,000,000 of Surge's common shares and make $250,000
in exploration expenditures; and
(iii) to earn an additional ten (10%) percent interest in the M3M Lands, Surge must make a cash payment to M3M
of $500,000 and issue to the Company a total of 1,000,000 of Surge's common shares.
Upon earning a fifty (50%) percent interest in the M3M Lands, the Company may either continue to earn the additional
twenty (20%) percent interest and ten (10%) percent interest in the M3M Lands or may require M3M to enter into a
joint venture agreement with Surge for further exploration and development of the M3M Lands. Upon payment of
the Full Option Exercise Price, M3M and Surge must enter into a joint venture agreement with industry customary
terms including that the party with the greater interest in the M3M Lands will act as the Operator of the M3M Lands
unless otherwise agreed between them.
Closing of the M3M Agreement is expected to occur within ten (10) days of TSX Venture Exchange approval of the
M3M Agreement. The M3M Agreement and the Option have a term of five (5) years and require, upon their
termination, that the parties enter into a joint venture provided that Surge has earned at least a fifty (50%) percent
interest in the M3M Lands.
No finder's fees are payable in connection with the M3M Agreement and M3M and Surge are not related parties for
the purposes of MI 61-101 or otherwise subject to it.
The M3M Agreement, and the performance of the Company's obligations thereunder, are conditional upon the
approval of the TSX Venture Exchange.
The properties comprising the M3M Lands were staked by the Company in April of 2023 prior to the Company
entering into the Lakshmi Property Agreement (as described below). The M3M Lands that were staked by the
Company are comprised of 253 claims in Elko County Nevada and are located approximately 40km southeast of
Jackpot, Nevada and 73km north-northeast of Wells, Nevada.
Suite 300-1455 Bellevue Ave.
West Vancouver, BC Canada V73 1C3
T: 604-669-2279 / F: 604-602-1606
M3M Lands (Identified in Map as "M3 Metals Claim Block")
LAKSHMI PROPERTY UPDATE
On May 9, 2023 the Company announced that it had entered into a mineral property option agreement (the "Lakshmi
Property Agreement") to acquire an interest in the Lakshmi Property, a mineral property prospective for lithium. The
Lakshmi Property is expected to be the focus of the Company's exploration and development efforts on a going
forward basis. The Lakshmi Property Agreement is subject to its approval by the Exchange. Approval requires the
Company to submit a technical report on the Laskshmi Property which the Company anticipates will be completed,
and submitted to the Exchange, shortly. More complete information on the Lakshmi Property can be found in the
Company's news release of May 9, 2023 under the Company's Issuer Profile on sedar.com.
Suite 300-1455 Bellevue Ave.
West Vancouver, BC Canada V73 1C3
T: 604-669-2279 / F: 604-602-1606
ABOUT M3 METALS CORP.
M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and
strategic development of mineral properties in North America. For additional information please visit M3 Metals
website at www.m3metalscorp.com. You may also email [email protected] or call investor relations at (604)
669-2279.
M3 METALS CORP.
“Kosta Tsoutsis”
Kosta Tsoutsis, CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS 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.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news
release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule”
and similar words or expressions identify forward-looking statements or information. These forward-looking
statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration
activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party
information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of
US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other
jurisdictions and other factors or information. Such statements represent the Company’s current views with respect
to future events and are necessarily based upon a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social
risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or
achievements to be materially different from the results, performance or achievements that are or may be expressed
or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation,
to update these forward-looking statements or information to reflect changes in assumptions or changes in
circumstances or any other events affections such statements and information other than as required by applicable
laws, rules and regulations.