Pinnacle Minerals Receives Offtake Payment and Finalizes Project Acquisition

Pinnacle Minerals Limited (PIM:ASX) has received a US $500,000 offtake payment from Electrification and Decarbonization AIE LP (the E&D Fund) for the rights to 25% of any minerals extracted from the Adina East Lithium Project in James Bay, Quebec. The acquisition of 75% of the Adina East Project has been finalized, meeting all conditions precedent.

Executive Commentary on Project Acquisition and Future Plans

Pinnacle Minerals Managing Director, Nic Matich, stated, 'Having now closed the Adina East Lithium Project acquisition, Pinnacle has moved to develop an extensive exploration program for 2024 to unlock the full potential of the Project. We have the advantage of a fresh capital injection with the US $500,000 offtake payment, supportive project partners in Waratah, and an expert exploration team both in-house and from IOS in Quebec.'

Summary of Pinnacle Minerals' Recent Developments

Pinnacle Minerals (ASX:$PIM) has successfully received a US $500,000 offtake payment from the E&D Fund, marking a significant milestone in the development of the Adina East Lithium Project. The acquisition of 75% of the Project has been finalized, paving the way for the company to proceed with its 2024 exploration program in James Bay, Quebec. With the support of project partners like Waratah Capital Advisors Ltd and an experienced exploration team, Pinnacle Minerals is poised to unlock the full potential of the Project. The company's focus on delivering shareholder value through systematic exploration and development of its technology metals projects reflects its commitment to exploration success and delivering shareholder value.