Strategic Metals Divests Harvest Project, Gains New Royalty

Strategic Metals Ltd. has announced the sale of its Harvest Project to Fireweed Metals Corp., expanding its royalty interests. The Harvest Project, located near Ross River, Yukon, will yield a net smelter return (NSR) royalty for Strategic. The transaction involves a cash payment of $150,000, complemented by Fireweed shares valued at $210,000, as per the recent closing price before the finalization.

The agreement, pending approval from the TSX Venture Exchange, includes a 2% NSR on gold and 0.5% on silver and base metals. Fireweed retains an option to buy half of these royalties for $1,000,000. Notably, the acquired Fireweed shares are subjected to a resale restriction of four months and one day.

Strategic Metals' expanding royalty portfolio includes several active exploration projects across Yukon, with varied stakes in companies like Fireweed Metals and Snowline Gold, enhancing its strategic value in the mining sector.