USCM Closes Transaction to Consolidate 100% of the McDermitt East Lithium Project

Executive Summary

• US Critical Metals Corp. (USCM) and its subsidiary US Energy Metals Inc. have completed the acquisition of an initial 50% interest in the McDermitt East Lithium Project in Nevada.
• The company secured an exclusive option to acquire the remaining 50%, enabling it to own 100% of the project subject to a 2.0% NSR royalty (with a possible 1.0% repurchase for CAD $1,000,000).
• USCM plans to advance exploration, including surface work and a maiden drill program, leveraging historic lithium sampling results up to 2,129 ppm Li.

Key Details

• Transaction Structure – Closed acquisition of 50% interest under an amended option agreement with Live Energy Minerals Corp. (LIVE) and Lithium Valley Holdings Corp.
• Option Terms – Cash payment of CAD $25,000 within 6 months of amendment execution; final payment of CAD $500,000 (cash, shares, or combination) due ≤ 24 months thereafter.
• Royalty – 2.0% Net Smelter Return royalty on the project; 1.0% may be repurchased for CAD $1,000,000.
• Exploration Plan –
• Compile and interpret all historical datasets.
• Conduct additional surface sampling and targeted mapping.
• Prioritize drill‑ready zones.
• Initiate a maiden drill program to test lithium‑bearing horizons.
• Historical Sampling – Previously reported up to 2,129 ppm lithium in surface samples from McDermitt East.
• Geological Context – Project situated in the McDermitt Caldera, an extinct super‑volcano with lithium‑rich clays formed from ancient lake sediments; considered one of the world’s largest potential lithium‑clay resources.
• Technical Report – LIVE filed a NI 43‑101 Technical Report (effective 16 Dec 2022) indicating high potential for large lithium deposits.
• Qualified Person – Scientific and technical information reviewed by Robert J. Johansing, B.Sc., M.Sc., qualified under NI 43‑101.

Notable Quotes

“McDermitt East provides USCM with a major foothold in one of the strategically significant lithium basins in North America… Consolidating the pathway to 100% interest in the Project, USCM is now in an ideal position to advance exploration toward a maiden drill program.” – Darren Collins, CEO & Director, US Critical Metals Corp.