RESOLVE VENTURES PROVIDES UPDATE REGARDING NEPTUNE PROPERTY OPTION
Resolve Ventures Inc.'s joint venture and option agreement partner, Nevada Sunrise Gold Corp., has granted North South Petroleum Corp. the right to earn a 50-per-cent interest in the Neptune property, should Resolve choose to waive its right to earn a further 25-per-cent interest in the Neptune property.
Neptune property option
Nevada Sunrise has granted North South the right to earn a 50-per-cent interest in the Neptune property, subject to, among other things:
If these conditions are met, a joint venture would be formed between North South (50 per cent), Nevada Sunrise (25 per cent) and Resolve (25 per cent), on substantially the same terms as are set out in the current agreement between Nevada Sunrise and Resolve.
Neptune consists of 316 unpatented 20-acre placer claims, totalling approximately 6,320 acres (2,557 hectares), and is located in an active area of lithium exploration and mining. The Silver Peak lithium mine operation, acquired by Albemarle Corp. in 2015, has extracted lithium minerals from brines continuously since 1966, and is located approximately 10 miles (15 kilometres) to the north of Neptune. Pure Energy Minerals Ltd. and Lithium-X Energy Corp. hold claims near or adjacent to the Neptune property. Nevada Sunrise has an option to earn a 100-per-cent interest in Neptune, subject to a 3-per-cent gross overriding royalty (see Nevada Sunrise's news release dated Sept. 21, 2015, for further details of the Neptune underlying option agreement).Back to Past News