Neometals Acquires 51% Stake in Utah Lithium-Potash Brine Project

Neometals has acquired a controlling 51% interest in the Utah Brine Corporation by funding up to $2 million for a lithium and potash brine project in the Paradox Basin. The project includes rights to 24 wells and extensive mineral claims, with UBC aiming for exploration and evaluation. Omaha Value will contribute $1.9 million for licensors pending approvals.

Published Mar 21, 2026

Neometals is re-entering upstream resource development by acquiring a 51% interest in Utah Brine Corporation (UBC) through a funding commitment of up to $2 million over three years, in partnership with Omaha Value. UBC holds rights to a lithium and potash brine project in the Paradox Basin, Utah, with an exclusive licence for brine sampling and evaluation over 24 existing wells.

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UBC also has over 32,275 ha of mineral claims in the Lisbon Valley area. Omaha Value will additionally fund a $1.9 million payment to licensors, contingent on receiving approvals for commercial production. Currently, no mineral resources or ore reserves have been defined for the project.