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-VWM) (“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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