Vancouver, BC – September 12th, 2022 – Recharge Resources Ltd. (“Recharge” or the “Company”) (RR: CSE) (RECHF: OTC) (SL5: Frankfurt) announces that it has opted to terminate its Kagoot Brook Cobalt Option Agreement with an objective of focusing time and capital on the Company’s more advanced assets including the Company’s two fully funded drill programs at Brussels Creek Project and Pocitos 1 Lithium Brine Project.
Recharge previously announced that it had entered into an agreement with West Mining Corp. whereby the Company may acquire a 75% interest in the Cobalt-Nickel Kagoot Brook project a 4,233-hectare area located in the Bathurst mining camp, New Brunswick, Canada. The option agreement as originally announced on August 17th, 2021 has been terminated effective September 9th, 2022.
Furthermore, the Company wishes to clarify the permit approval announced in yesterdays press release at the Pocitos 1 Lithium Brine Project pertained to a gravel permit issued by the Deptartment of Mines which is required for the commencement of drilling the Company’s planned production diameter well at the Pocitos 1 Lithium Brine Project.
CEO and director, David Greenway states, “With two fully-funded drill programs at the Brussels Creek and Pocitos 1 Lithium Projects, the late summer and early fall are shaping up to be one of the most pivotal and exciting times for Recharge and its stakeholders. With a full agenda, it seemed appropriate to hone the company’s focus in on its most advanced and most promising assets.”
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors,
David Greenway, CEO
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Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.