Lithium · Nevada · 50% interest
McDermitt East
6,508 acres in the McDermitt Caldera, 19 km from Lithium Americas’ Thacker Pass. LiVE holds a 50% interest. Operator US Critical Metals is drilling the project in 2026.
Where the project stands
Under an amending agreement effective 3 October 2025, US Critical Metals Corp. (CSE: USCM) and its subsidiary US Energy Metals Inc. moved from an earn-in and joint venture structure to a direct two-stage acquisition.
Payment I is complete. USCM paid C$25,000 in cash and issued 1,283,000 USCM common shares to Lithium Valley Holdings Corp., LiVE’s wholly-owned subsidiary, in exchange for a 50% interest in the project.
The remaining 50% is optional for USCM. To vest a 100% interest, USCM must pay a further C$25,000 in cash and C$500,000 payable in USCM shares, cash or a combination at USCM’s election, within 24 months of signing.
If and when USCM completes those payments, LiVE retains a 2% net smelter returns royalty on production from the project. USCM has the right to buy back 1% of that royalty for C$1,000,000.
| LiVE interest | 50%, held through Lithium Valley Holdings Corp. |
|---|---|
| Operator | US Critical Metals Corp. (CSE: USCM) |
| Location | Humboldt County, Nevada, USA |
| Area | 6,508 acres of BLM claims |
| Setting | McDermitt Caldera |
| Nearby | 19 km from Thacker Pass (Lithium Americas) |
| Received to date | C$25,000 cash + 1,283,000 USCM shares |
| Outstanding to LiVE | C$25,000 cash + C$500,000 on final acquisition |
| Royalty on completion | 2% NSR (1% buyable for C$1,000,000) |
| Technical report | NI 43-101, effective 16 December 2022 |
Operator activity
A funded partner drilling in 2026
LiVE carries no exploration cost while retaining half the project.
Maiden drill programme
Approximately 1,000 metres of reverse circulation drilling, with scope to expand depending on results. Holes are anticipated to reach 100 to 150 metres.
Permitting underway
USCM has commenced permitting of surface disturbance areas, including drill pads and access, and is submitting a Plan of Operations to the Bureau of Land Management.
Mobilisation
Envirotech Drilling LLC engaged. Mobilisation targeted for Q3 2026, subject to permitting approvals.
Operator activity as disclosed by US Critical Metals Corp. on 15 January and 9 April 2026. LiVE is not the operator of the project.
Geology
The project lies within the McDermitt Caldera, an extinct 40 × 30 km supervolcano formed approximately 16.3 million years ago as part of a hotspot currently underneath the Yellowstone Plateau. Following an initial eruption and concurrent collapse of the caldera, a large lake formed in the basin. This lake water was extremely enriched in lithium and resulted in the accumulation of lithium-rich clays.
Late volcanic activity uplifted the caldera, draining the lake and bringing the lithium-rich moat sediments to the surface, resulting in near-surface lithium on the project. Preliminary surface sampling by LiVE returned up to 1,907 ppm Li from a historic shallow trench, with three samples averaging 656 ppm lithium.
A technical report prepared in accordance with National Instrument 43-101, entitled “43-101 Technical Report on McDermitt Lithium East Property” by John Michael William Collins, P.Geo., effective 16 December 2022, is filed on SEDAR+.
Cautionary note
The potential quantity and grade referred to above is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. Adrian Smith, P.Geo., is a qualified person as defined in NI 43-101 and has reviewed and approved the technical information on this page.
