Vior Options its Lake Mirabelli Lithium Project to Stria
Montreal, CANADA, May 2, 2023 – VIOR INC. (« Vior » or the « Corporation »), (TSX-V: VIO, OTCQB: VIORF and FRANKFURT: VL51) – is pleased to announce that it has executed a definitive agreement (the “Agreement”) with Stria Lithium Inc. (“Stria”), for its Lake Mirabelli Lithium property package (the “Property”), located approximately 300 kilometers north of the town of Matagami, in the James Bay region of Quebec. The Property consists of 49 claims, adjacent to claims owned by Brunswick Exploration Inc. and Li-FT Power Ltd.
The Agreement outlines the final terms and conditions between Vior and Stria; providing Stria with the right to acquire a 100% undivided interest in the Property. This Agreement will be subject to receipt of all regulatory approvals, including acceptance and approval by the TSX Venture Exchange.
Stria will have the option to acquire a 100% undivided interest in the Property over a 14-month period by:
- completing before September 21, 2023, a minimum aggregate amount of exploration expenditures of at least $42,000, and file all required reports and assessment work, in order to maintain the Property in good standing under the Mining Act (Quebec); and
- completing cash payments to Vior totalling $175,000 over a 14-month period; and
- completing share payments to Vior totalling 950,000 shares over a 14-month period.
Mark Fedosiewich, President and CEO of Vior, stated: “We are very pleased to announce this Agreement with a quality partner like Stria who will ensure that the Property remains in good standing and that it receives the attention that it deserves to uncover its lithium potential. The Property was a non-strategic asset for Vior that had been dormant for several years, and now Vior shareholders have the opportunity to participate in its upside potential by having Stria advance it.”
The technical content disclosed in this press release was reviewed and approved by Laurent Eustache, Executive Vice-President for VIOR and Qualified Person as per NI 43-101.
Vior is a junior mining exploration corporation based in Quebec whose corporate strategy is to generate, explore, and develop high quality projects in proven and favourable mining jurisdictions in North America. Through the years, Vior’s management and technical team have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects. Vior is rapidly advancing three district-scale projects in Quebec, which include its flagship Belleterre Gold Project, the Belleterre Lithium Project and its Skyfall Nickel project.
For further information, please contact:
Mark Fedosiewich Laurent Eustache
President and CEO Executive Vice-President
Tel.: 613-898-5052 Tel.: 514-442-7707
SEDAR: Vior Inc.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the Belleterre project, the expected positive exploration results, the timing of the exploration results, the ability of the Corporation to continue with the exploration program, the availability of the required funds to continue with the exploration and the approval from the Ministère de l’énergie et des ressources naturelle (“MERN”) of the request for abandonment of the two mining concessions filed by 9293-0122 Québec Inc. are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “to earn”, “to have’, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Corporation’s ability to control or predict, that may cause the actual results of the Corporation to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, the possibility that future exploration results will not be consistent with the Corporation’s expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks, the refusal by the MERN to approve the request for abandonment of the two mining concessions held by 9293-0122 Québec Inc. as well as those risks identified in the Corporation’s annual Management’s Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Corporation has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Corporation does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.