VANCOUVER, September 25, 2018 /PRNewswire/ --
NRG Metals Inc. ("NRG" or the "Company") (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt: OGPN) The Company is pleased to announce that
it has completed the third installment of it's purchase option for the Hombre Muerto North Lithium Project (" HMN Project "),
located in Salta Province, Argentina. A payment of $ US 250,000
and one million common shares have been made to the vendor as per the contract terms. The vendor has also become an insider of
the Company as defined by Canadian securities regulations. The Company has now completed an extensive evaluation of the HMN
Project, and intends to announce a maiden resource estimate in the immediate future through the release of an independent
NI43-101 technical report.
The HMN Project is strategically located in the Hombre Muerto Salar, an area of lithium production by FMC at the Fenix Lithium
Mine, some 12 kilometers south of the project area. The project is surrounded by ground now owned by POSCO, a Korean based
conglomerate, as a result of their $ US 280 million purchase of the area from Galaxy Resources Ltd, an Australian based producer.
Galaxy is also moving their portion of the Hombre Muerto Salar, the Sal de Vida Project, to lithium production.
Salar Escondido Update
The Company has completed a technical review of exploration results to date at the Salar Escondido Project, located in
Catamarca Province, Argentina. Two holes have been attempted at this large project area, and
drilling has proven to be very challenging. The presence of lithium in highly permeable host rocks was confirmed in both holes,
but there was considerable variation in lithium grades and Mg/Li ratios. No representative sample to target depth has been
obtained to date, and only a small portion of the project area has been drill tested.
The project is comprised of five underlying agreements. One has been terminated, relinquishing approximately 3,000 hectares of
the 29,000 hectare total. As a completion of an option commitment on part of the Luz Maria claim group, the Company is issuing
420,000 shares to the underlying owner. Management are in discussions regarding the project, and anticipate further developments
in the near future.
Consulting Agreements
The Company has entered into two consulting agreements with Market IQ Media Group Incorporated ("Market IQ") and VibraSlim
Sales Inc. ("Vibraslim'). Each of the consultants were retained to provide digital marketing primarily using Google ads, digital
media, corporate advisory, branding and strategic business services to the Company over a four-month period for consideration of
$400,000 to Market IQ and $100,000 to VibraSlim. The Company prepaid
the total amount of $500,000 to these two entities using cash on hand. Market IQ is located in
Vancouver B.C. and owned by Brady Middleditch. VibraSlim is
located in Vancouver B.C. and owned by Chris Jackson.
Subsequent to the entry into the consulting agreements, MarketIQ and VibraSlim subscribed for 2,000,000 units of the Company
in the above-mentioned private placement for total subscription amount of $500,000. The Company has
received full payment for the private placement units from these two entities by cheque.
The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or
liability for the adequacy or accuracy of the contents of this news release.
This news release contains certain "forward- looking statements" within the meaning of Section 21E of the United States
Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain
information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and
estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other
factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader
is cautioned not to place undue reliance on forward- looking statements. The transaction described in this news release is
subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval,
market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations
and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described
in this news release. We seek safe harbor.
Contact:
Adrian F.C.Hobkirk
President and Chief Executive Officer
Investors / Shareholders Call 855-415-8100 or direct to Adrian Hobkirk 714-316-3272 ahobkirk@nrgmetalsinc.com
SOURCE NRG Metals Inc.