Inomin Mines Inc. (TSXV: MINE) has announced the signing of a definitive agreement with Sumitomo Metal Mining Canada Ltd. for an option to earn a 70% interest in Inomin’s Beaver and Lynx critical minerals projects in British Columbia.
Under the agreement, Sumitomo can earn its stake over four years by funding C$9M in exploration expenditures and making staged cash payments totaling C$490,000. The agreement follows an initial Letter of Intent signed in March and signifies Sumitomo’s confidence in the potential of the district-scale magnesium-nickel properties.
Inomin president John Gomez commented, “We are pleased to formalize our partnership with Sumitomo, a world-class mining company with deep technical expertise and a strong commitment to critical minerals development. Their involvement highlights the strategic importance of Beaver-Lynx and supports our goal of unlocking the full potential of these district-scale assets.”
Beaver and Lynx together span over 20,000 hectares in south-central British Columbia and have demonstrated strong potential for large-scale critical mineral discoveries. Sumitomo’s involvement marks a major step forward in advancing exploration and underscores growing strategic interest in Canadian sources of key metals.
For more information, visit www.inominmines.com
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