August 18, 2016 / Vancouver, BC / NRG Metals Inc. (the “Company”) (TSX-V: NGZ) (OTC Pink: GPOFF) (Frankfurt: OGPN) is pleased to announce the signing of a purchase option for the 100% acquisition of an exploration stage lithium project located in Argentina, South America, subject to the approval of the TSX Venture Exchange. The project is located in the Province of Catamarca, in the “Puna Region”, a well-known area of lithium production. The project is permitted for exploration, and evaluative work is now being scheduled. The Company is keeping further details confidential as it is in advanced negotiations for an additional property package in the area. The terms of the acquisition are: (i) US$20,000 on signing (paid), (ii) US$40,000 at the end of a period of due diligence and completion of a National instrument 43-101 Technical Report establishing the project as one of merit, (iii) U$100,000 at the end of year one, (iv) US$200,000 at the end of year two, and (v) a final payment of US$500,000 at the end of year three. A finder’s fee is payable in connection with this transaction
The Company is also negotiating on several other lithium opportunities located elsewhere in Argentina and Chile. In addition, the Company will be announcing management appointments and other news in the very near future. To facilitate business, the Company has incorporated NRG Metals Argentina S.A., and is in process of incorporating in Chile.
In addition, the Company has granted incentive stock options to purchase up to three hundred thousand common shares of the Company at an exercise price of ten cents for a period of five years to its directors, officers and consultants, in accordance with the provisions of its stock option plan.
On Behalf of the Board of Directors
Adrian Hobkirk, President, CEO and Director
The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this news release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this news release. We seek safe harbor.