EEE EXPLORATION CORP. announced that it has entered into a mineral option agreement dated August 3, 2022 with Visible Gold Mines Inc. respecting the MegaLi exploration property in the Province of Quebec. The Optionor is arm's length to the Company.

The Property is comprised of a total of 78 mineral claims covering a total area of 3,996.67 hectares (40 square kilometers) adjacent to Patriot Battery Metals' project and less than 2.7 km south-south-east from Patriot's newly significant Corvette's lithium discovery. The MegaLi project is also adjacent to EEE's newly acquired Lithium Grande 4 project and located sixteen km south to the regional and all-weather Trans-Taiga Road and power line infrastructure and 45 km from the LG4 airport within the James Bay region of Quebec. The Property is situated within the Archean Superior province of the Canadian Shield, which extends from Manitoba to Quebec and covers approximately 750,000 square km of Quebec.

Within the region, the Superior province is divided into four distinct subprovinces based on their lithological, metamorphic, geophysical and structural characteristics: Opatica, Nemiscau, Opinaca and La Grande. The Property is situated within the central portions of the volcano-plutonic La Grande subprovince, proximal to the Opinaca subprovince to the south. The region is considered to have strong exploration potential for a variety of commodities including base and precious metals, and lithium.

The Property is situated in the Langelier Complexe and Guyer Group -- Province du Superieur and is mostly composed of tonalite, granodiorite and granite. The geologic setting is primarily prospective for gold, silver, base metals and lithium over several potential deposit styles including orogenic gold, volcanogenic massive sulphide (VMS) and lithium pegmatite. On successful exercise of the option, EEE will have acquired a 50% interest in the Property and the parties will be deemed to have formed a joint venture for the purposes of the continued exploration of the Property.

Under the joint venture, EEE will be the first operator on the Property and each party will be required to contribute its proportionate share of all Property expenditures or be diluted accordingly. If a party is diluted to a 2% or lower joint venture interest in the Property, then that party's interest in the Property will convert into a 2% net smelter returns royalty.