Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) also referred to as “Hertz,” is excited to announce the acquisition of the Harriman Antimony Property in Quebec. This property, spanning 2,500 hectares and comprising 49 mineral claims, was obtained through an option agreement with prospector Glenn Griesbach and Canuck Lithium Corp., a subsidiary of Hertz.

The Harriman Property, an exploration stage antimony project, is situated 17 km northeast of New Richmond in the Gaspé Region of Quebec. Known for its significant mineral deposits, the Gaspé Region provides a favorable environment for exploration. The property benefits from road access, hydroelectric power, port access, and adequate manpower in the vicinity.

Historical data sourced from the SIGÉOM database revealed promising antimony and gold showings in the area, with notable findings including 2.32% Sb, 3.36 g/t Au at Harriman-2, 43.75 Sb, 3.4 g/t Au at New Richmond, and 15.35% Sb at Harriman-4 Sud. The Harriman Property showcases potential with the Harriman-Sud showing reporting 15.35% Sb from a previous grab sample, indicating significant mineralization.

With Glenn Griesbach, a reputable prospector behind the development of the Property, Hertz Energy’s current focus is on leveraging its $750,000 in crucial minerals Flow Thru capital to advance exploration activities at the Harriman Antimony Project. An upcoming ground surface exploration program in mid-September marks the beginning of the project’s aggressive development strategy, aiming to progress towards a winter drill program.

Option Agreement Terms:

The completion of the option will grant Hertz Energy a 100% interest in the Property upon making a cash payment of $20,000 within seven business days of executing the Agreement and issuing a total of 4,000,000 common shares to Griesbach. The distribution of the 4,000,000 common shares of Hertz Energy (parent company of Canuck Lithium) will occur as follows:

• 1,000,000 common shares upon Agreement signature and TSXV approval;
• 1,500,000 common shares on the 1st anniversary of the Agreement’s effective date;
• 1,500,000 common shares on the 2nd anniversary of the Agreement’s effective date.

Upon the commencement of commercial production on the Property, a 2.5% Net Smelter Returns (NSR) Royalty will be payable to Griesbach. This NSR Royalty can be reduced to 1% by the Company or its assignee at any time by paying C$1,500,000 to Griesbach.

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Antimony, a vital mineral in short supply, has seen its prices soar due to China’s recent announcement of export restrictions. With multiple applications including flame retardants, solar panels, batteries, and military equipment, the global demand for antimony continues to rise. Hertz Energy’s proactive acquisition positions the Company to capitalize on the growing need for antimony in various industries.

Stay informed about the latest developments in the mining and energy sectors related to antimony:

• Forbes Article
• Impact on US National Security
• Potential Flashpoint with the West
• China’s Export Restriction Press Release

Hertz Energy’s CEO, Kal Malhi, expresses enthusiasm about the Harriman Antimony Project, highlighting the strategic significance of the acquisition amidst global market dynamics. The Company’s partnership with INN, Outside The Box Capital Inc., and CanaCom underscores its commitment to investor relations and marketing initiatives, enhancing visibility and engagement with potential investors.

For more information on Hertz Energy’s portfolio of energy metals mineral properties, including its lithium exploration projects in Quebec and the Harriman Antimony Project, visit their official website here.

Contact:

For inquiries, please reach out to:
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca

Disclaimer: This press release contains forward-looking information that may differ from actual results due to various factors. Investors are advised to conduct their own research and due diligence before making investment decisions based on this information.

Cautionary Statement Regarding “Forward-Looking” Information:

This news release may include forward-looking statements that are subject to risks and uncertainties. While the Company believes these statements are based on reasonable assumptions, actual results may vary. Factors such as market conditions, availability of capital, and economic trends can impact the Company’s performance. Investors are advised to assess these forward-looking statements with caution.

Source:Newsfile Corp