Primary Energy Metals to acquire 199 lode claims in Utah's Polar Mesa area

() announced Wednesday it has signed an arm's-length acquisition agreement with its US subsidiary, Primary Nirvana Inc. and Green Energy Minerals Ltd. to acquire a 100% interest in 199 unpatented lode claims in the Polar Mesa area of Utah (the Nirvana I project).

The company said it will pay US$180,000 to cover staking fees and county and Bureau of Land Management payments, and it will issue 10 million common shares.

The Polar Mesa claims (the Nirvana I project) form a single contiguous claim block covered by 199 unpatented federal lode claims in Uravan belt, with historical mining going back to the 1880s.

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"We are pleased with this major step forward for the group to advance next step in accelerating both our short- and long-term goals to expand our search for worldwide battery mineral assets," said Patrick Morris, chief executive officer of Primary.

"With our recent agreement to acquire up to an 85-per-cent interest in energy minerals in Spain, we see strong growth potential for Primary that will provide a major upside for our investors."

Shares or Primary Energy Metals were flat at C$0.05 on Wednesday.