Cornish Lithium


Cornish Lithium Ltd.

In January 2017, Strongbow entered into an agreement with Cornish Lithium Limited (“CL”), a privately funded UK-based company, whereby CL has the right to explore for and potentially develop lithium in hot spring brines and associated geothermal energy on all Mineral Rights held by Strongbow through its subsidiary, Cornish Minerals Limited (Bermuda), in Cornwall, UK.

In return, Strongbow will have a 25% free carried interest in the first project to have a Bankable Feasibility Study completed on it, after which Strongbow will be required to contribute its share of development costs or its interest will be diluted. Strongbow will have a 10% free carried interest in each subsequent project that has a Bankable Feasibility Study completed on it, after which Strongbow will be required to contribute its share of development costs or its interest will be diluted.

In addition, Strongbow will have a 2% Gross Revenue Royalty payable from any production of metals from brines and a 2% Gross Revenue Royalty payable from any geothermal energy produced.

More detailed information on Cornish Lithium Ltd. can be found here.

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