InvestmentPitch Media Video Discusses Victory Battery Metals’ Acquisition of Significant Additional Property in a Prime Location in James Bay Lithium District Adjacent to Patriot Battery Metals’ Corvette Property

Rhea-AI Summary

Victory Battery Metals Corp. (CSE:VR) (FWB:VR6) (OTCPink:VRCFF) has announced the acquisition of 280 new claims totaling 14,375 hectares in the James Bay lithium district, adjacent to Patriot Battery Metals’ Corvette Property. This expansion enhances their existing land position of 67 claims covering 3,417 hectares. The new claims were acquired for $100,000 and 3 million shares, significantly increasing Victory's presence in a promising lithium area known for lithium-bearing pegmatites with high Li₂O values. Management emphasizes the importance of this acquisition for strategic growth and exploration efforts.

Positive

• Acquisition of 280 claims expands total land position to 17,792 hectares.
• New claims located adjacent to high-potential lithium properties.
• Potential for significant lithium resources as indicated by nearby exploration results.

Negative

• Management cautions that lithium mineralization on Patriot's property may not reflect mineralization on Victory's new claims.

VANCOUVER, British Columbia, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Victory Battery Metals Corp. (CSE:VR) (FWB:VR6) (OTCPink:VRCFF), a diversified investment corporation with mineral interests in North America, has acquired additional property in the James Bay lithium district adjacent to Patriot Battery Metals’ Corvette Property. The new acquisition of 280 claims totalling 14,375 hectares is a significant addition to the original 67 claims, which totalled 3,417 hectares, giving the company a large ground position in an underexplored area within an emerging lithium district.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information about this news along with comments from Francois Perron, President and CEO of Lucky Minerals, please view the InvestmentPitch Media video. The video is available for viewing on “InvestmentPitch” or on “YouTube”. If the link is not available, please visit www.InvestmentPitch.com and enter “Victory” in the search box.

The Stingray claim blocks range from adjacent to Patriot Battery Metals’ Corvette lithium property, to several kilometers away, spanning more than 65 km of east to west strike length. The new claims were acquired for a cash payment of $100,000 and 3 million shares.

Mark Ireton, President, stated: “Expanding Victory’s presence in this prime location is a priority, allowing us to consolidate the Company’s Stingray property array, streamline exploration efforts and establish a significant presence for further strategic acquisitions and or partnerships.”

For more information on the new properties please refer to the video.

The majority of the new Stingray claims lie along the same rock unit that has been previously mapped by Patriot Battery Metals, which contains lithium-bearing pegmatites up to 20 km in length with Li₂O values as high as 1280 ppm. Patriot Battery Metals recently reported significant lithium potential highlighted by the 2.6 km long CV5 spodumene pegmatite with drill intercepts of 156.9 m at 2.12% Li₂O, including 25.0 m at 5.04% Li₂O or 5.0 m at 6.36% Li₂O, 159.7 m at 1.65% Li₂O, 131.2 m at 1.96% Li₂O, and 52.2 m at 3.34% Li₂O, including 15.0 m at 5.10% Li₂O.

Management cautions that mineralization found on the Corvette property may not be indicative of mineralization on its Stingray properties.

The company is currently raising up to $2 million from a combination of regular and flow-through units. As its acquisition constitutes a material change, the company has amended its offering document and has also filed a French version allowing Quebec residents to participate under the new listed issuer financing exemption.

The shares are trading at $0.115. For more information on the company and its other properties, please visit the company’s website www.VictoryBatteryMetals.com, contact Mark Ireton, President and CEO, at 236-317-2822 or by email at info@VictoryBatteryMetals.com.

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Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Victory Battery Metals has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What is the significance of Victory Battery Metals' acquisition in February 2023?

The acquisition expands Victory's lithium claims in a promising area, increasing its land position significantly.

How much did Victory Battery Metals pay for the new claims?

Victory paid $100,000 and 3 million shares for the 280 new claims.

What is the total area of Victory Battery Metals' claims after the acquisition?

The total area after the acquisition is 17,792 hectares.

What potential does the new acquisition have for lithium resources?

The area is known for high Li₂O values, indicating potential for significant lithium resources.

How does the acquisition affect Victory Battery Metals' market position?

It strengthens their market position in the lithium sector, allowing for strategic acquisitions and exploration.