Lithium Corporation Signs Option Agreement on Rare Earth Prospect in British Columbia
Rhea-AI Summary
Lithium Corporation (OTCQB: LTUM) executed an option agreement on its Las Pilas REE prospect in southern British Columbia.
Under the deal, Ridgestone Mining will pay $315,000, issue 500,000 common shares, and complete $600,000 in exploration over three years to earn a 100% interest, subject to regulatory approval. Lithium Corporation retains a 2.0% Net Smelter Return (NSR) royalty, preserving long‑term production exposure while allowing Lithium Corporation to prioritize other REE and critical mineral targets and summer 2026 generative work.
Positive
- Upfront cash payment of $315,000
- Receipt of 500,000 common shares
- Committed $600,000 exploration over three years
- Retained 2.0% NSR royalty preserves future production upside
Negative
- Ridgestone can earn a 100% interest upon completing option terms
- Agreement is subject to regulatory approval
News Market Reaction
On the day this news was published, LTUM gained 3.83%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Elko, Nevada--(Newsfile Corp. - January 6, 2026) - Lithium Corporation (OTCQB: LTUM) ("Lithium Corporation" or "the Company"), a mineral exploration company dedicated to strengthening North America's energy independence through domestic development of critical mineral resources, is pleased to announce the execution of an option agreement on the Company's Las Pilas prospect in southern British Columbia, where enriched Rare Earth Element ("REE") mineralization has been identified.
Under the terms of the agreement, and subject to regulatory approval, Ridgestone Mining Inc. (OTCQB: RIGMF) (TSXV: RMI) will pay Lithium Corporation
Lithium Corporation President Tom Lewis commented, "This agreement establishes a clear pathway for advancing Las Pilas under a committed exploration program, while enabling the Company to concentrate technical and financial resources on our Yeehaw REE property, the newly staked Midway Range REE prospect in the general area, and ongoing generative work planned for the summer 2026 field season. Ridgestone's involvement will accelerate the evaluation of Las Pilas and deepen our understanding of REE-enriched Eocene intrusive systems in southern British Columbia."
The Company looks forward to supporting technical advancement at Las Pilas through its retained royalty position while progressing priority exploration initiatives across its growing critical minerals portfolio.
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 titanium, rare earth elements, graphite, fluorspar, and antimony 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/279568
FAQ
What are the financial terms of the Las Pilas option for LTUM?
How does the Las Pilas option affect Lithium Corporation's ownership of the property (LTUM)?
What ongoing economic interest does LTUM retain after the option deal?
What is the timeline for exploration expenditures under the LTUM–Ridgestone option?
How will the Las Pilas option change LTUM's near‑term exploration focus?
