Strategic Resources Revises Terms of Silasselkä Earn-in

Strategic Resources Revises Terms of Silasselkä Earn-in

PR Newswire

VANCOUVER, BC, June 17, 2020

VANCOUVER, BC, June 17, 2020 /PRNewswire/ - Strategic Resources Inc. (TSXV: SR) (the "Company" or "Strategic") announces that it has revised the terms of the Silasselkä project earn-in with Aurion Resources ("Aurion"). Aurion has agreed to waive the required expenditures on the project totalling C$3.0 million over the three-year period following the closing of the transaction, which was announced on June 10, 2019. The share-based payment schedule and amounts to exercise the option will remain unchanged. Post the issuance of the June 2020 share-based payment, 1,916,667 shares, Aurion will hold 14.9% of Strategic. In addition, Strategic and Aurion have simplified the agreement by changing it from two separate earn-in options to just one option to earn 100%. Strategic will now own 100% of the project after the last scheduled share payment in June 2022.

About Strategic Resources

Strategic Resources Inc. (TSXV:SR) is a Vancouver, Canada based mineral exploration and development company that is focused on vanadium projects in Finland and Peru. The Company continues to evaluate new opportunities that are related to the electrification of the economy.

Further details are available on the Company's website at https://strategic-res.com/.

To follow future news releases, please sign up at https://strategic-res.com/contact/.

STRATEGIC RESOURCES INC.

Signed: "Scott Hicks"

Scott Hicks, CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

View original content:http://www.prnewswire.com/news-releases/strategic-resources-revises-terms-of-silasselka-earn-in-301078369.html

SOURCE Strategic Resources Inc.

Copyright CNW Group 2020

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