The Blanche and Charles lithium pegmatite projects in the Eeyou Istchee James Bay region of Quebec have now satisfied all remaining post-purchase and sale agreement conditions specified by Idaho Champion Gold Mines Canada Inc. (CSE: ITKO). On September 19, 2022, Idaho Champion announced that it had signed a binding memorandum of understanding for acquiring the Projects and the terms. The deal, which replaces the MOU, includes the same terms outlined in the August MOU, including the provision that Idaho Champion will purchase 100% of the Projects from QPM for $100,000 in cash and 12 million common shares of the company, half of which will be held in escrow for 18 months. The 1% NSR royalty will be available from QPM for $1 million. QPM will retain a 2% net smelter return on the claims comprising the Projects. The company has issued 700,000 shares in consideration of Finder’s fees.
About Idaho Champion Gold Mines Inc.
Idaho Champion is an exploration-focused discovery company dedicated to developing its promising cobalt resources in Idaho, United States, and lithium resources in Quebec, Canada. Furthermore, the firm owns the Baner gold mine in Idaho County and the Champagne polymetallic mine in Butte County near Arco. Idaho Champion strives to be an environmentally conscious, responsible stakeholder and contributing resident of the cities where it operates, taking its social license seriously and employing local workers and service providers whenever possible. The company’s shares trade on the CSE under the symbol “ITKO,” the OTCQB under the symbol “GLDRF,” and the Frankfurt Stock Exchange under the symbol “1QB1.”