Slam Exploration Secures Option on Notre-Dame Niobium Critical Minerals Project

In a strategic move, St-Georges Eco-Mining Corp. has officially entered into a binding term sheet agreement with Slam Exploration Ltd. (TSX-V:SXL), granting Slam Exploration the option to develop the Notre-Dame Niobium Critical Minerals Project. This venture represents a significant milestone for both companies in the world of mineral exploration.

The Notre-Dame Niobium Critical Minerals Project is an extensive resource, spanning 116 claims over approximately 64 square kilometers. Initially recognized in late 2021, the project garnered considerable attention in the Spring of 2022 when St-Georges Eco-Mining Corp.'s geological team meticulously gathered over 210 samples from the area. The results of this initial survey were undeniably promising, revealing substantial reserves of niobium, rare earths, titanium, and iron that now demand further exploration.

Herb Duerr, CEO of St-Georges Eco-Mining Corp., expressed optimism about the partnership, highlighting the project's potential for a substantial niobium discovery. He also emphasized their focus on the Manicouagan Project in Québec while gearing up for near-term production and revenues through battery recycling operations.

The binding term sheet agreement details the conditions under which Slam Exploration will earn a 51% interest in the Notre-Dame Project. These conditions include issuing common shares and cash payments to St-Georges, as well as an investment of $300,000 in qualified exploration work over two years. Following the successful completion of these terms, the two parties have the option to operate the project as a 51/49 Joint Venture or allow Slam Exploration to earn an additional 49% ownership through additional shares.

Should the Joint Venture be established, both parties will jointly fund the project. If either party opts out of planned work programs, they will revert to a 2% Net Smelter Return royalty. In such a scenario, the other party will have the right to buy back half of the NSR for $1,000,000. Additionally, Slam Exploration may purchase a 100% interest in the project by making the fourth payment, with St-Georges retaining a 2% NSR, subject to a similar buyback option.

This momentous agreement paves the way for further exploration, ensuring a promising future for the Notre-Dame Niobium Critical Minerals Project and the companies involved. It remains subject to approval by the TSX Venture Exchange, and all security issuances will comply with Canadian securities laws, including a statutory hold period of four months and one day.

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