07:26 AM EDT, 07/07/2025 (MT Newswires) -- US Critical Metals ( USCMF ) on Monday said it completed its acquisition of a 100% interest in the Clayton Ridge Lithium project, located in Esmeralda County, Nevada.

The acquisition follows the successful fulfillment of all terms outlined in an existing option agreement with the vendor. The company said the project is subject to a 3% gross overriding royalty (GORR) with an option to buy 1% of the GORR for US$1 million.

"Although lithium markets have faced near-term price pressures, we continue to see long-term structural demand for domestic lithium supply," said USCM Chief Executive Darren Collins. "With advanced projects like Thacker Pass and American Lithium's TLC Project helping de-risk claystone lithium assets in the United States, we believe Clayton Ridge is well-positioned as part of a broader national strategy to establish secure and scalable lithium supply from clay-based deposits."

Shares of the company closed up 9.4% to $0.29 on Friday on the Canadian Securities Exchange.