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LE Minerals Limited (ASX:LEL)

ALERT: Price-sensitive ASX Announcement for LEL
Current share price for LEL : $0.325 -0.005 (-1.52%)+
Announcement
Release
24 Jun 2026 8:25AM
Price at Release
$0.330
Full Release
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Summary
LE Minerals Limited has secured additional mineral leases totaling approximately 2,340 hectares at the White Plains Lithium Brine Project in Utah, USA. This expansion is contiguous with existing holdings and allows exclusive exploration rights for a period of three years, focusing on brine and mineral salt exploration. The option agreement with the State of Utah’s School and Institutional Trust Lands Administration (SITLA) involves an annual lease fee and exploration commitments totaling US$260,000. Successful completion of these requirements within the option period enables LE Minerals to enter a 10-year mineral lease agreement, with potential extensions based on production commencement. The project aligns with LE Minerals' focus on battery minerals and leverages the strategic location and infrastructure advantages of the region.
Key Points
  • Secured additional ~2,340 hectares of mineral leases in Utah.
  • Exclusive exploration rights for brine and mineral salts for 3 years.
  • Annual lease fee of US$4 per acre, totaling US$23,256 per annum.
  • Exploration commitments of US$260,000 over 3 years.
  • Potential to enter a 10-year mineral lease post-exploration.
  • Strategic location near infrastructure and within a mining-friendly state.
  • Focus on lithium exploration consistent with battery minerals strategy.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.