Fairmont Announces Rome Lithium Property Option and Online Marketing and...
posted on May 26, 2016 01:00PM
Signed a quartzite testing agreement with PCC SE ("PCC") to validate the chemical and thermal stability of Fairmont's Baie Comeau and Forestville Quartzite Projects
Fairmont Announces Rome Lithium Property Option and Online Marketing and Awareness Program
VANCOUVER, BRITISH COLUMBIA--(May 26, 2016) - Fairmont Resources Inc. (TSX VENTURE:FMR) ("Fairmont") announces that, subject to TSX Venture Exchange approval, it has negotiated an option agreement with a Quebec prospector (the "Optionor") to acquire a 100% interest in the Rome Lithium property, near Val d'Or, Quebec (the "Property"). Accordingly, Fairmont (the "Optionee") will issue to the Optionor 500,000 shares upon TSX approval and paid the Optionor $25,000 upon a future successful financing.
In order to exercise the balance of the option, Fairmont will be required to (i) issue 500,000 shares on or before the 6 month anniversary of the TSX Venture approval date; (ii) issue 500,000 shares on or before the 12 month anniversary of the TSX Venture approval date; and (iii) incur $150,000 of exploration expenditures within 36 months, $50,000 within the first 12 months after the TSX approval date. The Property will be subject to a 2% Production Royalty per tonne. The Optionee may purchase one half of the Production Royalty (1%) for one million dollars (Canadian) at any time.
The Rome Lithium property is located approximately 60 km north of Val d'Or Quebec.
The property is contiguous to the north and south of RB Energy's Quebec Lithium Mine with a published measured and indicated resources (at a 0.60% Li2O cutoff) of 41,556,000 tonnes at 1.09% Li2O, and an inferred resource of (at a 0.60% Li20 cutoff) of 17,766,000 million tonnes at 1.10% Li2O (RB Energy Press Release of October 11, 2012).
The property is also contiguous to Jourdan Resources Vallee Lithium property that drilled more than 4000m of core in 2011 and intersected more 100 pegmatite and aplite dikes. Jourdan Resources intersected values of up to 1.187% Li2O over 5.50m (Jourdan Resources Press Release of October 24, 2012).
This option is subject to TSX Venture Exchange approval.
Fairmont Launches AGORACOM Online Marketing and Awareness Program
Fairmont is also pleased to announce that it is implementing an online marketing and awareness program through AGORACOM.
The Company will receive significant exposure through millions of content brand insertions on the AGORACOM network and extensive search engine marketing over the next 12 months. In addition, exclusive sponsorships of invaluable digital properties such as AGORACOM TV, the AGORACOM home page and the AGORACOM Twitter account will serve to significantly raise the brand awareness of the Company among small cap investors.
Fairmont's President and CEO Michael Dehn stated, "AGORACOM Has proven to be a leader in the online marketing space. We are delighted to have retained their services to expand our online presence."
Shares for Services Program
Fairmont intends to issue shares for services to AGORACOM in exchange for the online advertising, marketing and branding services ("Advertising Services"). Pursuant to the terms of the agreement, the company will be issuing:
The number of shares to be issued at the end of each period will be determined by using the closing price of the Shares of Fairmont on the TSX Venture Exchange on the first trading day following each period for which the Advertising Services were provided by AGORACOM.
The agreement/arrangement is subject to TSX Venture Exchange approval.
The term of the Agreement is for 12 months effective immediately. Fairmont will issue a press release after the issuance of shares under the terms of the agreement.
AGORACOM is the pioneer of online investor relations, online conferences and online branding services to North American small and mid-cap public companies, with more than 250 companies served. More than just lip service, AGORACOM is the home of more than 808K investors that visited 5.6 million times and read 52.4 million pages of information every year (Average 2008 - 2015).
AGORACOM traffic ranks within the top 0.5% of all websites around the world. These traffic results are independently tracked and verified by Google analytics. AGORACOM traffic can be attributed to its strategy of maintaining the cleanest, moderated small-cap discussion as a result of implementing the first ever Investor Controlled Stock Discussion Forums.
AGORACOM Founder, George Tsiolis, publishes the leading blog on small to mid-cap investor relations. His 50 Small-Cap CEO Lessons are a must read for CEO's looking to increase their education and knowledge about online investor relations.
Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.
Fairmont's Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont's control. Such factors include, among other things: risks and uncertainties relating to Fairmont's exploration program of its mineral properties and Fairmont's limited operating history. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.
NEITHER 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.
Michael A. Dehn
President and CEO
Fairmont Resources Inc.