Poseidon Nickel's Farm-In Agreement with Mantis Resources

Poseidon Nickel Limited (ASX: $POS) has announced a strategic farm-in agreement with Mantis Resources Pty Ltd to earn up to a 100% interest in exploration licences 63/2244 and 63/2256, known as the 'Mantis tenements.' These tenements are located in close proximity to Poseidon's Lake Johnston Project. The agreement aims to enhance Poseidon's lithium portfolio and leverage the heightened exploration activity in the region.

Executive Commentary on Farm-In Agreement

CEO, Craig Jones, expressed the strategic significance of the farm-in agreement with Mantis Resources, highlighting the potential of the lithium bearing pegmatites within the Mantis tenements. He emphasized the value of the minerals processing infrastructure at Lake Johnston in light of the increased exploration for lithium in the vicinity. Jones outlined the initial phase of work, which includes validating historical lithium results and continuing the lithium work programs over Poseidon's 100% owned tenements at Lake Johnston.

Summary of Farm-In Agreement and Outlook

Poseidon Nickel's farm-in agreement with Mantis Resources marks a strategic move to capitalize on the lithium potential near Lake Johnston. The company's focus on expanding and validating historical lithium results demonstrates its commitment to leveraging the region's heightened exploration activity. With the commencement of a review of the lithium potential at Lake Johnston, Poseidon aims to strengthen its position in the lithium market. The farm-in agreement aligns with Poseidon's strategy to become a profitable and sustainable nickel producer, leveraging existing infrastructure and significant resources.