South Star Battery Metals Corp., is pleased to announce that all parties have agreed to extend the Exclusivity, Due Diligence and Definitive Agreement period to December 10th, 2021. Negotiations are proceeding well, and all parties look forward to making additional announcements in the near term, as appropriate. As previously announced (see November 3, 2021 press release) the Company has entered into binding Earn-in and Option Agreement (Agreement) for the Ceylon Graphite Project (“Project”) in Alabama with Hexagon Energy Materials Limited (“Hexagon”) (ASX: HXG) and U.S. Critical Minerals LLC (“USCM”), a privately held exploration company incorporated in the United States. Under the terms of the Agreement, South Star will have the right to earn-in to up to 75% of the Project. The transaction is subject to the final approval of the TSX Venture Exchange (the “TSXV”).
ABOUT SOUTH STAR BATTERY METALS CORP
South Star Battery Metals Corp. is Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star’s Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95-99% Cg. With excellent infrastructure and logistics, South Star is carrying its development plan towards Phase 1 production projected in Q4 2022, pending financing. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com.
On behalf of the Board,
Mr. Richard Pearce
Chief Executive Officer
For additional information, please contact:
CHF Capital Markets (IR Canada)
Cathy Hume, CEO
Phone: +1 416-868-1079 x251
RBMG – RB Milestone Group LLC (IR US)
Trevor Brucato, Managing Director
Mr. Dave McMillan