VANCOUVER, BC, Dec. 2, 2021 /CNW/ - South Star Battery Metals
Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB:
STSBF), 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.
This news release has been reviewed and approved by Richard
Pearce, P.E., a "Qualified Person" under National Instrument 43-101
and President and CEO of South Star Battery Metals.
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
Email: Cathy@chfir.com
RBMG – RB Milestone Group LLC (IR US)
Trevor Brucato, Managing Director
Email: southstar@rbmilestone.com
Mr. Dave McMillan
Chairman
Email: davemc@telus.net
Twitter: https://twitter.com/southstarbm
Facebook:
https://www.facebook.com/southstarbatterymetals
LinkedIn:
https://www.linkedin.com/company/southstarbatterymetals/
YouTube: South Star Battery Metals - YouTube
CAUTIONARY STATEMENT
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this press release.
This news release and the Updated Technical Report contain
references to inferred resources. The Report is preliminary in
nature and includes inferred mineral resources that are considered
too speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral
reserves.
FORWARD-LOOKING INFORMATION
The information contained herein contains "forward-looking
statements" within the meaning of applicable securities
legislation. Forward-looking statements relate to information that
is based on assumptions of management, forecasts of future results,
and estimates of amounts not yet determinable. Any statements that
express predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance are not
statements of historical fact and may be "forward-looking
statements".
Forward-looking statements are subject to a variety of risks
and uncertainties which could cause actual events or results to
differ from those reflected in the forward-looking statements,
including, without limitation: risks related to failure to obtain
adequate financing on a timely basis and on acceptable terms; risks
related to the outcome of legal proceedings; political and
regulatory risks associated with mining and exploration; risks
related to the maintenance of stock exchange listings; risks
related to environmental regulation and liability; the potential
for delays in exploration or development activities or the
completion of feasibility studies; the uncertainty of
profitability; risks and uncertainties relating to the
interpretation of drill results, the geology, grade and continuity
of mineral deposits; risks related to the inherent uncertainty of
production and cost estimates and the potential for unexpected
costs and expenses; results of prefeasibility and feasibility
studies, and the possibility that future exploration, development
or mining results will not be consistent with the Company's
expectations; risks related to commodity price fluctuations; and
other risks and uncertainties related to the Company's prospects,
properties and business detailed elsewhere in the Company's
disclosure record. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described
in forward-looking statements. Investors are cautioned against
attributing undue certainty to forward-looking statements. These
forward-looking statements are made as of the date hereof and the
Company does not assume any obligation to update or revise them to
reflect new events or circumstances. Actual events or results could
differ materially from the Company's expectations or
projections.
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SOURCE South Star Battery Metals Corp.