Cameo Resources Corp.: Softbank Group Makes Strategic Investment In Nemaska Lithium’s Proposed Whabouchi Mine
(firmenpresse) - Softbank Group Makes Strategic Investment In Nemaska Lithiums Proposed Whabouchi Mine
Vancouver, British Columbia - April 17, 2018 - Cameo Resources Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7D) (the Company or Cameo Resources) is pleased to note Softbank Group Corps intentions to invest up to
$99,075,000 to acquire up to 9.9% of Nemaska Lithium Inc.s outstanding common shares. Nemaska Lithium Inc.
holds the Whabouchi Lithium deposit claims, which extend to within 1 km of Cameos Montagne Lake Property in central Québec. Nemaska Lithiums Whabouchi lithium deposit is one of the most important spodumene lithium deposits in the world, both in volume and grade, and Nemaska Lithium is currently raising funds for the construction and commissioning of its proposed Whabouchi Mine and Shawinigan Plant project.
Cameos WRL Project in Quebec covers more than 19,000 ha in two blocks on either side of Nemaskas proposed Whabouchi lithium mine including Cameos 4,484ha Montagne Lake Property immediately to the west of Nemaskas proposed Whabouchi lithium mine, and the Dumont Property 6 km to the east.
Fieldwork from the summer of 2016 on the WRL Project identified up to 344 ppm Li2O (equivalent to 160 ppm Li), as reported by independent Actlabs in Ancaster, Ontario from 182 chip grab samples. Cameo plans to start evaluating quotes for airborne magnetic surveys to run concurrently with a spring campaign on the WRL Project in the coming days.
This investment in Nemaska is of monumental importance to the SoftBank Groups strategy, said Masayoshi Son, Chairman & CEO of SoftBank Group Corp. We are extremely pleased to be further accelerating the Mobile Revolution, an era of IoT (Internet of Things) and electric vehicles enabled by the fusion of technology and energy storage. (see Nemaska Lithium Incs news release dated April 5, 2018).
Cameos CEO, Akash Patel states, Cameos WRL Project is strategically positioned next to Nemaskas proposed Whabouchi lithium mine. We look forward to closely following this considerable investment into our next door neighbour.
Harrison Cookenboo, Ph.D., P.Geo., is a qualified person as defined in National Instrument 43-101. He has reviewed and is responsible for the technical information presented in this news release.
CAMEO RESOURCES CORP.
Akash P atel -
Akash Patel
President
For further information, please contact
Akash Patel
President
604-446-6440
Email: akashp006(at)gmail.com www.cameoresources.com
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.
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Datum: 17.04.2018 - 15:07 Uhr
Sprache: Deutsch
News-ID 574517
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