— The Halo project is strategically located between two lithium majors
VANCOUVER, British Columbia, Aug. 05, 2022 (GLOBE NEWSWIRE) — Clear Sky Lithium Corp. (CSE: POWR) (FRA: K4A / WKN: A3DM2W) (“Clear sky” or the “company“), a mineral exploration and development company focused on American lithium deposits to support domestic demand, announces that it has entered into a property option agreement (the “option agreement“), dated August 05, 2022, with Halo Lithium LLC (the “salesperson‘), after which she was granted the right to acquire the Halo Project. The Halo Project consists of ninety-eight mineral claims located in Esmeralda and Nye counties, Nevada and is considered prospective for claystone-hosted lithium mineralization.
Patrick Morris, CEO comments, “This acquisition in the heart of America’s lithium discovery region will significantly expand our Nevada project base. The Halo project is directly adjacent to two companies that have shown lithium enrichment in the area: American Lithium’s TLC project (MRE: 7.1 Mt LCEI) to the north and American Battery Metals’ Tonopah Flats project to the southwest. We believe Halo is underlain by the same geological formation that hosts the TLC deposit. We believe this game-changing opportunity will allow us to achieve our goal of becoming a major player in the region and ultimately a contributor to the lithium supply chain.”
Under the terms of the Option Agreement, the Company may acquire all rights to the Halo Project from Vendor in exchange for completing a series of cash payments and share issuance (the “Compensation Shares“) according to the following schedule:
| meeting | cash payment | Consideration share issue |
| down payment | $250,000 | 1,865,269 |
| First Anniversary of the Option Agreement | $200,000 | 1,250,000 |
| Second Anniversary of the Option Agreement | $200,000 | 500,000 |
All consideration shares issued to the seller are subject to a twelve-month voluntary deposit…
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