Bitterroot Resources' Option Agreement on the LM Nickel-Copper-PGM Propery

Feb 19, 2020

VANCOUVER, BC / ACCESSWIRE / February 19, 2020 / Bitterroot Resources Ltd.'s (TSXV:BTT) ("Bitterroot") Michigan subsidiary has entered into an option/joint venture agreement whereby Below Exploration, Inc., ("Below") a private Michigan corporation, can earn a 49% joint venture interest in Bitterroot's 100%-leased LM nickel-copper-platinum-palladium property in Baraga County, Michigan. Below is required to fund US$285,000 of exploration expenditures prior to the first anniversary of the agreement to earn a 49% joint venture interest. Bitterroot will be the project operator, regardless of its ownership level, and retains a right of first refusal over Below's property interest. Following vesting of its 49% interest, Below will have a 90-day option to convert its interest in the project into Bitterroot shares. The value of the project will be determined at that time by an independent Qualified Person acceptable to both parties. If it were to occur, the conversion into Bitterroot shares will be subject to the approval of the TSX Venture Exchange and is subject to applicable securities laws. If Below does not exercise the share conversion option, the joint venture will continue.

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