Lithium Corporation Granted All Mineral Claims at Las Pilas Rare Earth Element Prospect as Technical Work and Exploration Commence
Rhea-AI Summary
Lithium Corporation (OTCQB: LTUM) reported key milestones at its Las Pilas rare earth element project in southern British Columbia. The company has been unconditionally granted mineral claims covering about 13,092 acres (5,439 hectares) across at least three areas of anomalous REE mineralization.
A NI 43-101 compliant technical report is in progress and field exploration has begun. Upon report completion and regulatory acceptance, an option agreement with Ridgestone Mining will take effect, providing cash, shares, funded exploration, and a retained 2.0% NSR royalty for Lithium Corporation.
Positive
- Las Pilas mineral claims granted over approximately 13,092 acres (5,439 hectares)
- Option terms: $315,000 cash, 500,000 Ridgestone shares, $600,000 exploration spending
- Lithium Corporation retains a 2.0% Net Smelter Return royalty on Las Pilas
- Ridgestone to fund three years of exploration toward earning 100% interest
- Independent NI 43-101 technical report underway with field exploration commenced
- Project generator model delivers cash, equity, funded exploration, and royalty exposure
Negative
- None.
News Market Reaction – LTUM
In the Jun 22 session, LTUM declined 0.43%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Elko, Nevada--(Newsfile Corp. - June 22, 2026) - Lithium Corporation (OTCQB: LTUM) ("Lithium Corporation" or the "Company"), a mineral exploration company focused on strengthening North America's energy independence through the development of domestic critical mineral resources, is pleased to announce several significant milestones at its Las Pilas Rare Earth Element (REE) project in southern British Columbia.
Following the recent unconditional grant of mineral claims, Lithium Corporation has secured a land position covering approximately 13,092 acres (5,439 hectares). The property encompasses at least three distinct areas of anomalous REE mineralization, establishing Las Pilas as a key exploration asset within the Company's growing portfolio of critical mineral prospects.
In another major advancement, an independent NI 43-101 compliant technical report is underway, and field exploration has commenced. Upon completion and regulatory acceptance of the report, the option agreement with Ridgestone Mining Inc. (OTCQB: RIGMF) (TSXV: RMI) will formally come into effect.
Under the terms of the agreement, and subject to regulatory approval, Ridgestone will pay Lithium Corporation
The Las Pilas agreement highlights Lithium Corporation's role as a project generator, partnering with select optionees to deliver cash payments, equity participation, funded exploration, and a retained royalty interest while limiting capital requirements and shareholder dilution. Backed by a strong balance sheet and prudent spending, Lithium Corporation remains well positioned to continue to advance its broader portfolio of lithium and rare earth element assets in a strengthening critical minerals market.
Lithium Corporation will provide technical support for exploration activities at Las Pilas while advancing its wholly owned Yeehaw and Midway Range REE prospects. Recommendations arising from the NI 43-101 study will be incorporated into exploration programs at Las Pilas and may also be applied across the Company's regional REE portfolio, as the projects share similar geological characteristics.
Learn more about Lithium Corporation's complete portfolio of lithium, graphite, titanium/rare earth elements, antimony and fluorspar prospects:
https://lithiumcorporation.com/projects/
About Lithium Corporation
Lithium Corporation is a mineral exploration company dedicated to securing North America's energy independence through domestic critical mineral resources. As one of the few Project Generators in North America's critical minerals sector, the Company leverages its extensive exploration expertise to focus on energy metals with the goal of helping achieve energy independence for North America.
The Company's dual operational focus spans two worldclass mining jurisdictions, with promising lithium prospects in Nevada, USA, and a diverse portfolio of titaniferous rare earth element, and graphite properties in British Columbia, Canada. Lithium Corporation is committed to driving a secure and independent energy future for North America through strategic investments in energy metals exploration and related opportunities, such as renewable energy generation and energy storage solutions.
Contact
Tom Lewis, CEO
775-410-5287
info@lithiumcorporation.com
On behalf of the Board of Directors
"Tom Lewis"
Tom Lewis,
President & CEO
Website: www.lithiumcorporation.com
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices, and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Lithium Corporation (OTCQB: LTUM)
1031 Railroad St. Ste 102B Elko NV 89801
(775) 410-5287
www.lithiumcorporation.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302287