Far Resources has entered into a non-binding Memorandum of Understanding with exploration company Quantum Resources Limited. Quantum has the right to earn an interest in the Thompson Brothers lithium project in Manitoba which is contiguous with Far Resource’s extensive holdings in the Snow Lake Region of Manitoba.
Under the Memorandum the two companies have agreed to exchange information and to work together to assess the viability and potential synergies of developing their lithium assets in Manitoba over the course of a one year period. The Memorandum may be extended or terminated by either party on written notice. During the period of the Memorandum the parties will explore the most efficient way to work together to move their projects forward through a mutually beneficial agreement to both parties.