Cohiba Minerals to Acquire Lithium and REE Assets in Canada Through Maple Minerals Purchase

Canada: Cohiba Minerals, is involved in the exploration of Australia's natural resources. The company's focus is on discovering metals, precious metals, Lithium, Gypsum, Gold, Copper, Cobalt, and mineral deposits. It owns a stake in the Pyramid Lake project, which spans an area of 11,266 hectares situated in Esperance, Western Australia. Cohiba Minerals Limited's primary objective is to invest in the resource sector by acquiring tenements directly, entering joint ventures, establishing farm-in arrangements, and generating new projects. It has finalized a binding agreement to acquire Maple Minerals. The latter owns four properties in Ontario, Canada, which consist of Lithium and rare earth elements. However, the deal's completion hinges on Cohiba's shareholders' clearance, which is required to issue approximately 1.5 billion ordinary shares and 750 million performance rights to Maple Mineral sellers.

In addition, Cohiba secured a commitment from investors to raise $1.75m (A$2.68m) in capital, which will be delivered in two tranches. Maple Minerals' portfolio includes four projects: Big Rock, Rogers Creek, Ottertail, and Gathering Lake, covering a total area of 148km². The Big Rock project consists of nine claims that span over 3,611 hectares (ha) and contain an estimated 9.9 metric tonnes of significant Lithium deposits, at 1.04% of Lithium Carbonate (Li2O3).

Spread over 4,642ha, Rogers Creek is composed of ten claims and is situated 45km east of the Georgia Lake pegmatite field. The property is comprised of mafic metasedimentary rocks near peraluminous, S-type, fertile granite pluton. Known for housing the largest concentration of rare earth elements in Quebec, the site also consists of muscovite-bearing Granite, which was identified as peraluminous fertile parental Granite.

Ottertail consists of seven claims, covering 2,690ha. It is located in the same geological setting as the Superb Lake pegmatite field, which is well-known for its spodumene mineralization containing Lithium and niobium/tantalum. On the other hand, Gathering Lake is situated 68km north-east of Nipigon, and the pegmatites at this site are said to be of the Lithium-Caesium-Tantalum type, containing spodumene-bearing minerals.

In addition, there is a high likelihood of discovering other rare earth elements such as Niobium, Tantalum, Rubidium, Beryllium, and Caesium. The company has scheduled a thorough field investigation later this year, which will be assisted by local geological consultants familiar with Canadian Lithium terranes.

The CEO of Cohiba Minerals, Andrew Graham, declared that Canada is projected to become a significant provider of critical minerals, such as Lithium. This assertion is validated by the recent deal between Green Technology Metals (GT1) and LG Energy Solutions (LGES), in which LGES invested A$20m in GT1 to become an important shareholder and a principal offtake partner.

After conducting an extensive due diligence process, we are highly optimistic about obtaining an outstanding portfolio of projects. Eagerly anticipate performing detailed reconnaissance work during the upcoming summer season.