Vancouver, B.C., June 25, 2019: New Tech Minerals Corp., NTM-CSE, (“New Tech” or the “Company”) is pleased to announce that, further to its news release of March 4th, 2019, it has entered into an agreement with Explorex Resources Inc. (“Explorex”) (EX-CSE) assigning a 100% interest in its right to acquire the Buena Vista cobalt project, Pershing County , Nevada (the “Assignment Agreement”).
Under the Assignment Agreement, Explorex will pay the Company $10,000 USD, issue 400,000 shares and assume all the underlying obligations of a mineral lease and purchase agreement entered into on May 15th, 2018 (and subsequent amendments), with Zephyr Minerals, Inc. a Nevada Corporation.
After completion of a feasibility study, New Tech may elect to purchase a 20% interest in the property by paying to Explorex an amount equal to 40% of the expenditures incurred by Explorex on the project.
A finder’s fee will be payable in conjunction with the transaction.
About New Tech Minerals Corp.
New Tech is engaged in the exploration and development of promising potash/brine, cobalt and vanadium projects in America, including the Paradox Basin Potash and the Brine project in Utah, the Buena Vista and Tule cobalt projects in Nevada and the Fredericktown cobalt project in Missouri.
On behalf of the Board of Directors
Jonathan George, President & CEO
Neither the OTCQX nor the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, are "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and Canadian securities laws. Forward Looking Statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the Forward Looking Statements.
Key assumptions upon which the Company’s forward-looking statements and information are based include: the price of potash will rise and not fall significantly; the Company’s ability to secure new financing to continue its exploration and development activities; there being no significant changes in the ability of the Company to comply with environmental, safety and other regulatory requirements; the Company’s ability to obtain regulatory approvals in a timely manner; and the Company’s ability to achieve its growth strategy. These assumptions should be considered carefully by readers. Readers are further cautioned that the foregoing list of assumptions is not exhaustive. Although the Company believes that the assumptions on which the forward-looking statements or information are made are reasonable, based on the information available to the Company on the date such statements were made, no assurances can be given as to whether these assumptions will prove to be correct.