NOA Lithium and CDN Maverick Amends Nevasca Property Agreement And Payment Terms
NOA Lithium and CDN Maverick Amends Nevasca Property
Agreement And Payment Terms
June 21, 2024, Buenos Aires, Argentina – NOA Lithium Brines Inc. (TSX-V: NOAL) (“NOA”
or the “Company”) is pleased to announce that further to its press release dated August 28, 2023
regarding the property agreement (“ Property Agreement”) with CDN Maverick Capital Corp.
(“CDN”) for the acquisition of the Nevasca property (“Chascha Norte Claim”), the Company and
CDN have agreed to amend a property payment of US $250,000 in cash and US $250,000 in
common shares to US $50,000 in cash and US $450,000 in common shares at a price of $0.30
per common share, allowing CDN to increase its shareholdings in NOA. NOA has now made
payment of this US $50,000 in cash and has issued 2,064,750 common shares at a deemed price
of $0.30 per common share to CDN, as part of this third property payment of the Chascha Norte
Claim, which is a fully permitted claim within NOA’s 78,000 hectares Arizaro Project, located in
the Salta Province. All other commercial terms of the Property Agreement remain unchanged.
Gabriel Rubacha, Chief Executive Officer and Director of NOA, stated, “The amendment to our
agreement with CDN demonstrates the upside potential of NOA, allowing CDN to increase its
participation in NOA, considering that we have recently expanded our estimated resource to 3.8M
tonnes LCE @ 535 mg/l average concentration in our Rio Grande Project , making it one of the
largest undeveloped and unencumbered projects in the Lithium Triangle. Additionally, and as
previously disclosed , we are continuing to evaluate options for possible partnerships for o ur
Arizaro project, that will allow NOA to unlock additional value to our shareholders”.
About NOA Lithium Brines Inc.
NOA is a lithium exploration and development company formed to acquire assets with significant
resource potential. All NOA’s projects are located in the heart of the prolific Lithium Triangle, in
the mining -friendly province of Salta, Argentina, near a multitude of projects and operations
owned by some of the largest players in the lithium industry. NOA has rapidly consolidated one
of the largest lithium brine claim portfolios in this region that is not owned by a producing company,
with key positions on three prospective salars, being Rio Grande, Arizaro, Salinas Grandes, and
totalling over 140,000 hectares.
On Behalf of the Board of Directors,
Gabriel Rubacha
Chief Executive Officer and Director
NEWS RELEASE
For Further Information On The Company
Website: www.noalithium.com
Email: [email protected]
Telephone: +54-9-11-5060-4709
Alternative Telephone: +1-403-571-8013
Cautionary Note Regarding Forward-Looking Statements
This news release may include forward-looking statements that are subject to inherent risks and
uncertainties. All statements within this news release, other than statements of historical fact, are
to be considered forward looking statements. Forward -looking statements including, but not
limited to NOA’s future plans and objectives regarding its projects, which constitute forward
looking information that involve various risks and uncertainties. Although NOA believes the
expectations expressed in such forwar d-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those described in forward-looking statements. Factors
that could cause actual results to differ materially from those described in forward -looking
statements include fluctuations in market prices, including metal prices, continued availability of
capital and financing, and general economic, market or business conditions. There can be no
assurances that such statements will prove accurate and, therefore, readers are advised to rely
on their own evaluation of such uncertainties. NOA does not assume any obligation to update any
forward-looking statements except as required under applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.