BC’s Bluebird to Acquire Ashburton Cobalt Project in Australia

Vancouver, B.C.-headquartered Bluebird Battery Metals Inc. has entered into a binding letter of intent (LOI) to acquire 100 per cent of the rights, title, and interest in the granted exploration licences of the Ashburton cobalt project located 100 km southwest of Paraburdoo, Western Australia, from Peter Gianni, a partner with Western Australian regional real estate agency John Matthew & Sons. Under the terms of the LOI, which will be formalized by a definitive agreement among the parties, Bluebird will purchase 100 per cent of Ashburton for C$25,000 and by issuing Ashburton shares valued at C$1.5 million over a two-year period. The deal is subject to the acceptance of the TSX Venture Exchange. The 189-square-km tenement package increases Bluebird's total portfolio of cobalt-focused projects in Australia to 518 square km.

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