LITHIUM CORPORATION UPDATE
Elko, NV – June 2nd, 2021 – Lithium Corporation (OTCQB:LTUM) (“LTUM” or “the Company”), a North American corporation focused on energy metals for the growing energy storage sector and high-tech industries, wishes to update shareholders with respect to various activities and the status of the Altura Mining Limited (ASX:AJM) Joint Venture earn-in of a 60% interest in the Company’s Fish Lake Valley lithium-in-brine prospect in Esmeralda County Nevada.
As outlined in our Apr 30, 2021 press release Altura has agreed to earn a 60% interest in the Fish Lake Valley prospect by conducting $2,000,000 worth of exploration work on the property, and paying LTUM $575,000 and issuing $400,000 worth of Altura common shares in staged payments over the next four years. Altura has paid the initial $50,000 following the signing of the Letter of Intent, and currently their geological and engineering staff are getting up-to-speed with respect to the technical aspects of the property, while we work towards a mutually acceptable formal agreement.
