Winsome Resources signs binding agreement to purchase Hong Kong
based Sinomine’s interests in Power Metals Corp’s Case Lake Project.
• Case Lake hosts high-grade lithium, caesium and tantalum deposits1 in which Winsome has gained the rights to all offtake.
• Located across the provincial border but in proximity to Winsome’s Quebec assets.
Winsome Resource Limited (ASX:WR1; “Winsome” or “the Company”is pleased to announce it has agreed to acquire shares in TSX-V listed Power Metals Corp (TSX-V
WM) (“Power Metals”
that are currently owned by Hong Kong-based Sinomine Rare Metals Resources Co Ltd (“Sinomine”
. Under this agreement, Winsome has also agreed to acquire Sinomine’s offtake rights for the lithium, caesium and tantalum from the highly prospective Case Lake Project (“the Project”
, located in Ontario, Canada. The Project is owned by Power Metals and hosts high-grade deposits of caesium, lithium and tantalum. All three minerals are included on the latest US and Canadian critical minerals lists. Located in north-eastern Ontario region approximately 100km north of Kirkland Lake, the Project is accessible year-round via the Translimit Road which connects Ontario and Quebec. As a Chinese-owned entity, Sinomine is required by recent changes to Canadian law to divest its interests in the Project
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