Liontown Resources (ASX:LTR) has signed an agreement with Olympio Metals (ASX:OLY) to farm into the latter's Mulline and Mulwarrie lithium projects in the eastern Goldfields of Western Australia.

Liontown Resources will initially complete 1,100 soil samples across the projects before progressing to Stage 1 earn-in, which will take its interest to 51% within a year.

Olympio Metals can then choose to form a joint venture (Liontown 51%, Olympio 49%) or allow Liontown to earn a further 39% within three years in Stage 2.

Shares of Olympio Metals were up 75% at 2:57pm AEST.