Solis Minerals (ASX:SLM) has extended the transaction period relating to the acquisition of the Brazil Lithium Project in Minas Gerais.
The 60-day transaction period has now been extended by a further 14 days.
The existing term sheet remains binding, and the parties will continue to work constructively towards finalising the documentation.
Solis expects to complete the remaining documentation during the extension period and commence drilling operations at the project.
As reported by Mining.com.au, Solis acquired the asset from Rio Tinto (ASX:RIO) subsidiary Desenvolvimentos Minerais for a total purchase price of US$500,000 ($727,538) in April 2026.
Solis Minerals is a mineral explorer focused on copper exploration and mineralisation in South America.
Write to Maddison Elliott at Mining.com.au
Images: Solis Minerals
