Zimtu Capital Corp. Announces Closing of its Acquisition of the Eagle Lake, Grove Lake, and Whitefish Lake Mining Claims in the Province of Ontario - Seite 3

The Eagle Lake Claims were staked over several anomalous populations in lake sediment samples in Li and Cs. (Each claim block contains >99th percentile samples for Li). NW-SE and ENE magnetic trending lineaments crosscut the properties.

Properties are underlain by mafic, intermediate, and felsic volcanic rocks, gneissic and foliated tonalite, massive granodiorite to granite, with minor ultramafic rocks. On one of these properties, over 50 pegmatite occurrences have been mapped. No historical mapping data is available for most of these properties.

21 of 165 of Lake sediment samples in the properties are >99th percentile for Li (>28.1ppm, max 35.92)

66 of 165 of Lake sediment samples in the properties are >99th percentile for Cs (>2.4ppm, max 6.48)

4 of 165 of Lake sediment samples in the properties are >99th percentile for Cs (>37.1ppm, max 43.6)

Foto: Accesswire

Figure 6: Eagle Lake Group Claim Blocks, Bedrock Geology, Lithium in Lake sediment analyses, mapped pegmatites, land tenure

Terms of the Acquisition

Pursuant to the sale agreement dated June 15, 2023, among the Company and six arm's length vendors, including prospector Shawn Ryan (the "Vendors"), the Company acquired a 100% interest in the Claims for the following consideration:

• an aggregate cash payment of $315,000 that will be paid to the Sellers within five days of closing of the Acquisition ("Closing");
• an aggregate of 9,000,000 common shares in the capital of Zimtu ("Zimtu Shares") that will be issued to the Sellers within five days of Closing; and
• an aggregate cash payment of $315,000 that will be paid to the Sellers within four months of Closing.

As additional consideration for the Acquisition, the Company also granted to one of the Sellers a 1% net smelter returns royalty interest in the future minerals produced from the Claims upon achieving commercial production.

About Zimtu Capital Corp.

Zimtu Capital Corp. is a public investment issuer that aspires to achieve long-term capital appreciation for its shareholders. Zimtu Capital companies may operate in the fields of mineral exploration, mining, technology, life sciences or investment. The Company trades on the TSX Venture Exchange under the symbol "ZC" and Frankfurt under symbol "ZCT1". For more information, please visit https://www.zimtu.com.