VANCOUVER, BC, Nov. 26, 2020 /PRNewswire/ - Strategic Resources Inc. (TSXV: SR) (the "Company" or "Strategic") announces that it has terminated its agreement with Magnus Minerals OY to acquire the Akanvaara project in Finland. Strategic is relinquishing its option to acquire Akanvaara in order to focus on the Mustavaara and Silasselkä projects. Strategic was required to spend C$750,000 by June 2021 and, to acquire a 100% interest of the Akanvaara project, another C$1,000,000 before June 2022. In addition, Strategic was required to issue an additional 0.7 million common shares of the Company by June 2022.
The Company is continuing its ongoing work on its Mustavaara Preliminary Economic Assessment and evaluation of other projects related to the continued electrification of the global economy.
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 is primarily focused on its flagship Mustavaara vanadium-iron-titanium project in Finland. 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/.
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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.
SOURCE Strategic Resources Inc.