Summit Explore Corporation has executed a non-binding term sheet with Power Minerals Limited (ASX: PNN) (“Power Minerals”) for the proposed development of Power Minerals’ Salta Lithium Project in Salta Province, Argentina.

The Salta Project comprises five lithium brine salars — Incahuasi, Rincón, Pocitos, Pular, and Arizaro — located within Argentina’s Lithium Triangle.

Summit Explore, a newly formed lithium brine development company backed by Summit Nanotech, today announced the launch of its US$8 million seed financing round to accelerate the acquisition and development of high‑value brine assets across Chile, Argentina, and the United States. The company begins operations with three secured projects and two additional assets under negotiation.