LithiumBank Resources Corp. ("LithiumBank or the "Company") (TSXV:LBNK) (OTCQX: LBNKF) is pleased to announce that the Company's common shares have commenced trading on the OTCQX® Best Market, an over-the-counter public market in the United States, under the ticker symbol LBNKF. LithiumBank will continue to trade on the TSX Venture Exchange ("TSXV") in Canada, as its primary listing under the symbol "LBNK".
"We are pleased to begin trading on the OTCQX Market, which we believe will increase our visibility and accessibility for current and potential investors in the United States as we continue to advance our exploration and development of our Lithium projects in Western Canada. We also look forward to seeing the results of our Preliminary Economic Assessment currently underway with Hatch Ltd. on our flagship Boardwalk Project at Sturgeon Lake, Alberta in the coming quarter," stated Rob Shewchuk, Director & CEO. "We believe that trading on OTCQX will also improve our market information, transparency, liquidity and ease of trading in the Company's securities, and will be a benefit to all of our shareholders as we present our corporate developments at Boardwalk and other projects in our portfolio of over 3.2 Million acres over the balance of 2022 and into 2023."
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet prescribed financial standards, follow certain corporate governance guidelines, and demonstrate compliance with applicable securities laws. Trading on the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. Investors can find information and trading status on LithiumBank at https://www.otcmarkets.com .
LithiumBank is also pleased to announce that, subject to regulatory approval, the Company has engaged Independent Trading Group Inc. ("ITG") to provide services as a market maker in accordance with the policies of the TSXV. ITG is expected to trade shares of the Company on the TSXV and all other trading venues with the objective of maintaining an orderly market and improving the liquidity of the Company's common shares.
ITG will not receive shares or options as compensation. However, ITG and its clients may have or may acquire a direct interest in the securities of the Company. LithiumBank and ITG are unrelated and unaffiliated entities. ITG is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and can access all Canadian stock exchanges and alternative trading systems. The capital and securities required for any trade undertaken by ITG as principal will be provided by ITG.
Pursuant to the services agreement entered into between LithiumBank and ITG (the "Agreement"), the Company shall pay ITG a fee of C$7,000.00 per month. The Agreement between the Company and ITG is for an initial term of three (3) months and shall be automatically renewed for subsequent one-month periods, unless terminated by either party upon 30 days' written notice. There are no performance factors contained in the Agreement. ITG will be responsible for the costs it incurs in its trades and no third party will be providing funds or securities for the market making activities.
LithiumBank Resources Corp. is an exploration and development company focused on lithium-enriched brine projects in Western Canada where low-carbon-impact, rapid DLE technology can be deployed. LithiumBank currently holds over 3.2 million acres of mineral titles, 2.82M acres in Alberta and 326K acres in Saskatchewan. LithiumBank's mineral titles are strategically positioned over known reservoirs that provide a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct brine lithium production. LithiumBank is advancing and de-risking several projects in parallel to the Boardwalk Lithium Brine Project.
Contact: Robert Shewchuk CEO & Director rob@lithiumbank.ca (778) 987-9767
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, are forward-looking statements and contain forward-looking information, including statements relating to the expected impact and benefits derived from listing the Company's shares on the OTCQX Market, the timing and completion of the Preliminary Economic Assessment on the Boardwalk Project, the agreement with ITG and the impact thereof, and future corporate developments at the Company's projects.
Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by LithiumBank and the opinions and estimates of management as of the date of this press release, including management's expectation that listing on the OTCQX Market will increase visibility and accessibility for investors located in the United States and provide benefits to shareholders of the Company by increasing market information, transparency and liquidity around the Company's securities, that the Preliminary Economic Assessment will be completed in the coming quarter, that the Company will receive regulatory approval to enter into the agreement with ITG and the expected benefits thereof, and that the Company will provide future corporate development updates on the Company's various projects.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of LithiumBank to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the failure of listing on the OTCQX Market to increase potential investor interest in the Company's securities, that listing on the OTCQX Market will not result in increased market information or transparency about the Company, and not result in increased liquidity and ease of trading in the Company's shares, that the Preliminary Economic Assessment will not be completed within management's expected timeframe, that the Company will fail to receive regulatory approval for the agreement with ITG, or that the approval will be on unfavourable terms for the Company. Although management of LithiumBank has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. LithiumBank does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
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One of the chief materials in rechargeable batteries, lithium plays a pivotal role in our transition to a clean, electric future. It is one of the 31 minerals identified by the Government of Canada as critical for the sustainable economic success of both the country and its allies. These minerals, as laid out in the Canadian minerals and Metals Plan (CMMP) are also crucial to establishing the country as a global leader in the energy transition.
Beyond economic security, socially- and environmentally-sustainable development practices are also crucial in the country's transition to a low-carbon economy. As the world grapples with the ongoing climate crisis, electrification presents a compelling solution. Renewable energy stands poised to replace fossil fuels as sales of electric vehicles continue to surge. Meanwhile, battery-powered sensors and smart devices are quickly becoming the backbone of a connected world, offering us convenience, productivity and more.
This evolution could be derailed by a simple problem. In its current state, lithium production cannot keep pace with global demand. One analyst even suggests that the imbalance, if left unaddressed, could act as a hard cap for lithium demand as early as 2027.
The company is led by a qualified and well-recognized management team comprising professionals from across the energy, geological science, commodity, investment, and mining sectors. The team has already cooperated extensively with oil and gas operators and established relationships with leading extraction process technology companies. As it develops its existing claims, it plans to continue acquiring and consolidating high-quality lithium exploration projects.
LithiumBank's current claims are situated in known lithium-bearing hotspots; which, between them, host more than 500 existing oil wells. The oil and gas sector has spent decades establishing infrastructure in these areas. Many of these wells and sites are further positioned in reservoirs which could offer the perfect conditions for the application of DLE technology.
"It's a significant advantage that Alberta has been focused largely on extractive resources since its inception as a province in 1905," explained LithiumBank Chairman & CEO Rob Shewchuk. “We're laying the groundwork for what has the potential to become a large-scale, carbon-neutral, battery-grade lithium production opportunity that could add meaningful lithium supply to the battery supply chain in North America.”
LithiumBank's flagship project, Sturgeon Lake, covers a total area of 761,601 acres and has the potential to hold the most contiguous elemental tonnes of lithium of any lithium brine project in North America.
Situated 270 kilometers northwest of Edmonton, the Sturgeon Lake Project comprises 28 Alberta Metallic and Industrial Mineral Permits that contiguously cover 761,601 acres of land. O&G production in the area began in 1955 and was suspended in 2020 by its operator.
A geologist and geochemist by training, Paul Matysek is also a successful alpha entrepreneur and creator of shareholder value with over 40 years of experience in the mining industry. Since 2004 serving as either CEO or executive chairman, Matysek has sold six publicly-listed exploration and development companies, with an aggregate worth of over $2 billion. Most recently in the lithium space, he served as executive chairman of Lithium X, which was sold to Nextview New Energy Lion Hong Kong for C$265 million. Prior to that, Matysek was CEO of Lithium One, which merged with Galaxy Resources of Australia to create a multibillion-dollar integrated lithium company.
Matysek was president and CEO of Goldrock Mines, sold to Fortuna Silver Mines in July 2016. He served as CEO of Potash One, since acquired by K+S Aktiengesellschaft for C$434 million cash through a friendly takeover in 2011. Matysek was also the co-founder and CEO of Energy Metals, a uranium company that grew from a market capitalization of C$10 million in 2004 to approximately C$1.8 billion when sold in 2007. In June 2021, then CEO Paul Matysek sold Gold X Mining to Gran Colombia Gold in an all share transaction worth C$315 million.
Rob Shewchuk is an Alberta-based investor with 25 years experience in the capital markets including serving as chairman of Standard Securities Capital and as managing director of Wolverton Securities, acquired by PI Financial in 2016. Shewchuk currently serves on the board of directors of Graphene Manufacturing Group, Spectre Capital, Verses Technologies and is a partner and director at Caerus Capital.
Gianni Kovacevic is the co-founder and director of LithiumBank and is an
investor in the energy and commodity sectors. A graduate of electrical studies from the British Columbia Institute of Technology, he is an expert in the analysis of the global energy matrix and the impact technology and renewable energy have on every aspect of society. Fluent in English, German, Italian and Croatian, Kovacevic makes his home in Vancouver
Taylor MacDonald brings over 15 years of capital markets experience, having worked in Vancouver, London and New York on both the buying and selling sides. He is presently the Founder and Partner of Caerus Capital, founding member of the Silicon Valley
Blockchain Society (SVBS) and SVBS Canada. MacDonald is also a graduate of the Wharton School of Business at the University of Pennsylvania, a CFA charter holder and a director of STAND, a scholarship foundation for youth at risk.
Jon LaMothe holds a Bachelor of Science degree in geology and a master’s degree in geology, both from the University of Alberta. LaMothe's abilities have led to the discovery and capture of several fields with over C$2 billion spent to date on targets he has identified. He helped bring Black Swan Energy from no production to becoming a major private producer of oil and gas in Canada, eventually acquired by Tourmaline Oil for C$1.1 billion.
Kevin Piepgrass is a University of Alberta graduate and professional geologist, registered with the Engineers & Geoscientists of British Columbia. Piepgrass has over 15 years of experience managing the exploration and development of commodities including gold, silver, copper, lithium and rare earth elements. Piepgrass is a qualified person pursuant to National Instrument 43-101 Standards of Disclosure for mineral projects.
Corey Shewchuk is the co-founder of Hammell Road Innovation, a company dedicated to investment and contributions to burgeoning technologies. Shewchuk has a decade of experience in management and marketing across multiple industries.
Fehr & Associates provides consulting services to a number of mineral exploration companies with more than 25 years of business experience with management, complex transactions, corporate finance, financial reporting, governance and regulatory compliance.
Christopher Murray has been a partner at Osler Hoskin & Harcourt for over 25 years. He leads Osler’s Asia-Pacific initiative, having advised a number of Asia-based enterprises, principally on their investments in Canadian energy and mining businesses. Murray's practice focuses on mergers and investments for public corporations, private equity sponsors and pension funds. He has been fortunate to have been involved in a wide range of deal sizes with degrees of complexities. Murray contributed to Lexpert Deals of the Year and smaller, yet still business-critical, transactions for mid-cap and smaller public companies.
Murray also has a wealth of experience in capital markets having advised on over 100 public offerings and dozens of IPOs in his career. He advises a number of public reporting issuers and their boards as well as Canadian pension plans as their principal trusted legal adviser on governance. Murray is widely recognized both in Canada and internationally as a leading corporate lawyer by well regarded ranking organizations including, Lexpert, Best Lawyers and Chambers Global. Murray also practiced in Australia early in his career while on a two-year secondment from Osler. Murray has experience as a trustee of a public REIT that was acquired by another public REIT and as a director of not-for-profit and private entities.
Steven Piepgrass is the vice president of construction and government relations with Green Impact Partners (GIP). He is responsible for the construction of all new energy projects and building and maintaining constructive, respectful and transparent relationships with all levels of government. Piepgrass joined GIP in August 2021 where he is currently leading the construction of two RNG projects in Colorado, supporting the development of other low carbon energy projects in Alberta and British Columbia.
Prior to joining GIP, Piepgrass was with ATCO Canadian Utilities where he worked for 18 years, most recently as the senior vice president & general manager, where he led ATCO’s Storage & Liquids business which included the development and execution of its Salt Caverns and Heartland Water Intake projects. Piepgrass holds a degree in chemical engineering and a Master’s of Business Administration from the University of Calgary. He is a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA) and an alumnus of the Governor General’s Canadian Leadership Conference.
Rob Shewchuk Chief Executive Officer, LithiumBank Resources Corp. ("LithiumBank") (TSXV: LBNK) and his team joined Monica Hamm Manager, Client Success, Toronto Stock Exchange, to celebrate the Company's new listing on TSX Venture Exchange and close the market.
LithiumBank Resources Corp. is an exploration and development company focused on direct brine lithium resources in Western Canada . The company plans to take advantage of Alberta's long history of fossil fuel production to create a local source of "green" lithium in North America .
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Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com) is pleased to announce that it will issue 335,235 common shares and has paid $50,000 in cash in satisfaction of its first anniversary option payment pursuant to the Company's option agreement with Mount Morgan Resources Ltd. to acquire a 100% interest in its Jean Lake lithium-gold project. The 1002 hectare Jean Lake Gold- Lithium project is located 570 km north of Winnipeg and 15 km east of the mining centre of Snow Lake Manitoba. The region hosts world-class gold, base-metal and gold-rich base-metal deposits and developing lithium resources.
The five claim, 1002-hectare Jean Lake Lithium and Gold Property is situated in west-central Manitoba, 15 kilometers east of the historic town of Snow Lake. It is hosted by the Early Proterozoic (1.832 Ga) Rex Lake Plutonic Complex which is a circular intrusion 8 km in diameter. The property hosts the historic west-northwest striking Beryl lithium pegmatites rediscovered in August of 2021 in blasted trenches beneath 80 years of organic deadfall and glacial sediment. The 270-degree trending dykes are characterized by coarse grained light green spodumene crystals in a matrix of potassium feldspar, quartz, and muscovite. The host rocks are coarsely porphyritic gabbro. The property also hosts the shear zone-hosted Sparky Gold Occurrence discovered in 1918. The gold mineralization is associated with disseminated and near-solid fracture fillings consisting of fine-grained to blocky arsenopyrite with lesser pyrite and chalcopyrite hosted within sheared and silicified massive basalt and gabbro.
About Foremost Lithium Resource & Technology Ltd.
Foremost Lithium is a resource exploration company committed to having a critical role in the production of high-quality battery-grade lithium hydroxide to fuel the electric vehicle and battery storage market. Given the importance and global focus on increasing decarbonization, the company is hyper-focused on continued exploration and growth on its six lithium projects: Jean Lake, Grass River Claims, Zoro, Jol and the Peg North Claims, in Snow Lake Manitoba, and its Hidden Lake Lithium Project in the Northwest Territories. Foremost Lithium also has the Winston Gold/Silver Property in New Mexico USA.
For further information please contact: John Gravelle President and CEO Foremost Lithium Resource &Technology Ltd. Email: info@foremostlithium.com Phone: +1 (604) 330-8067
Follow us or contact us on social media: Twitter: @foremostlithium Linkedin: https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany Facebook: https://www.facebook.com/ForemostLithium
This news release contains "forward-looking statements" and "forward-looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions, and current expectations. Such statements include but are not limited to, statements with respect to the plans for future exploration and development of the Company's properties and the acquisition of additional exploration projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates" "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur.
These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: risks related to the Company's projects; risks related to general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; increases or decreases in market prices of mining consumables, possible variations in resource estimates, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, changes in applicable laws or stock exchange policies and receipt of any requires regulatory approvals and political and economic developments in areas in which the Company operates. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward- looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business.
UNITED STATES ADVISORY. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), have been offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.
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ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the "Company", or "ACME") announced today that it has commenced geological field work to further develop knowledge of lithium occurrences at ACME Lithium's FLV claim group in Fish Lake Valley, Nevada.
The FLV claim group encompass 144 lode mining claims totalling approximately 2,975 acres, in Esmeralda County, Nevada. Historical sampling had occurrences of up to 600 ppm lithium. Fine sediments the same age as Clayton Valley occur on the property with some beds enriched in lithium.
ACME's Fish Lake Valley project is directly west of ioneer Ltd's world class Rhyolite Ridge Lithium-Boron project. On July 31st, ioneer announced a binding battery joint venture with Toyota Motor Corp and Panasonic Corp to buy lithium from ioneer's Rhyolite Ridge mining project and use the metal to build electric vehicle batteries in the United States. Australia-based ioneer aims to produce about 21,000 tonnes of lithium in Nevada annually starting in 2025. It signed a supply deal with Ford Motor Co in mid-July and last year with South Korea's Ecopro Co.
Follow up sub sampling as well as mapping at Fish Lake Valley is intended to better understand the geological model and focuses on traverses along a major drainage area where higher lithium values occurred. Further analysis will assist with drill hole targeting and access routes for potential drill sites.
William Feyerabend, Certified Professional Geologist is a qualified person as defined by NI 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release.
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Cat-Euclid and Shatford Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Stephen Hanson Chief Executive Officer, President and Director Telephone: (604) 564-9045 info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ("Cypress" or "the Company") is pleased to report results from the recently completed drill program at its 100%-owned Clayton Valley Lithium Project ("Project"), in Nevada, USA . A sonic drill program was conducted in May 2022 to obtain sample material for lithium extraction testing at the Company's Lithium Extraction Facility ("Pilot Plant") in Amargosa Valley, Nevada and to supplement the Project's resource model for the Feasibility Study that is currently underway.
"The drill program was highly successful in generating material for our pilot plant and providing distinct data to strengthen the Project's resource model" stated Bill Willoughby , Cypress President, and CEO. "These are significant steps as we continue to work to de-risk the project and provide information for the Feasibility Study."
Cypress has received all assays from its May 2022 drilling program. The program was conducted to collect claystone with large diameter core for use in metallurgical testing at the Company's Pilot Plant. A total of 580 meters were drilled in eight holes. Hole depths were limited to intersect lithium-bearing claystone to a depth of 61 to 76 meters and to obtain approximately 15 tonnes of material for testing.
Representative core samples ranging from 0.1- to 3-meters in length were collected and delivered to ALS Global in Reno, Nevada for analysis. Lithium values shown in the table are weighted averages over the length of claystone intersected in each hole. All eight holes ended in lithium-bearing claystone. Each sample submittal was accompanied with QA/QC samples of blanks, standards, and duplicates.
Measurements from surface, samples analysed with four acid digestion with ICP-MS
Four holes, CSV1 through CVS4, were drilled in the central portion of the Project in the vicinity of the planned starter-pit. CVS2 is located outside of the reserve pit outline from the 2021 Prefeasibility Study, nearest the location of the anticipated plant site for the feasibility study. CVS3 is located adjacent to a reclaimed test pit where 500-tonnes of claystone were collected in April.
Four additional holes, CVS5 through CVS8, were drilled in the northeast portion of the project on and near the parcel of property acquired this year from Enertopia. These holes were arranged southeast to northwest infilling the fence of TOP-01, TOP-02, TOP2M and TOP-04 drilled by Enertopia, and DCH-09 drilled by Cypress.
The assay results are in line with lithium grades predicted at all eight locations by the resource block model developed by GRE. The overall estimated lithium grade for all eight locations from GRE's model is 1,060 ppm. This compares to the compiled average lithium grade from all eight holes drilled of 1,080 ppm, for a variance of +2%.
When viewed in cross-section, the assay results are also consistent with those from previous drilling and support the continuation of a higher-grade northeast trend of lithium-bearing claystone on Cypress's project as interpreted by GRE in developing the resource model. The results are encouraging and have potential to extend the 2021 pit design through Cypress hole DCH-13 (82.3 meters, 1,221 ppm lithium) to CVS6, CVS7 and the northeast corner of the property.
With the drill program completed, GRE will revise and update the resource model with the new data and proceed with work on the mine plan and production schedule for the feasibility study, which is expected to be completed by year end.
2022-08-04-cvs-nrm.jpg (1500×1941) (cypressdevelopmentcorp.com)
Daniel Kalmbach , CPG, is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.
Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA . Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a feasibility study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.
WILLIAM WILLOUGHBY , PhD., PE President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as " expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
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On July 29, 2022, Stan Bharti acquired an aggregate of 5,000,000 flow-through common shares at a price of $0.10 per share and 6,250,000 units (each, a " Unit ") at a price of $0.10 per Unit of Jourdan Resources Inc. (the " Company ") ( TSX-V: JOR) pursuant to a flow-through and unit private placement financing for an aggregate cost of $1,000,000. Each Unit consists of one common share of the Company (each, a " Common Share ") and one Common Share purchase warrant (each, a " Warrant "). Each Warrant entitles Mr. Bharti to acquire one additional Common Share at an exercise price of $0.10 for a period of 24 months from issuance. Prior to the acquisition of the aforesaid securities, Mr. Bharti owned 20,000,000 Common Shares and 10,000,000 Warrants. As a result of this transaction, Mr. Bharti now owns 31,2500,000 Common Shares and 16,250,000 Warrants, which represent approximately 15.33% of the outstanding Common Shares on a non-diluted basis and 21.58% on a partially-diluted basis.
Mr. Bharti acquired the Common Shares for investment purposes. Mr. Bharti may acquire additional securities of the Company in the future, may dispose of some or all of the securities or may continue to hold his current position.
A copy of the early warning report filed in respect of the transaction described above is available under the Company's profile on SEDAR at www.sedar.com.
For further information or to request a copy of the early warning report please contact:
Stan Bharti 198 Davenport Road Toronto, Ontario M5R 1J2 (416) 861-1685
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE.
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EmergingGrowth.com a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth Companies and Markets announces the Schedule of the 36 th Emerging Growth Conference.
The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.
Register for the conference here.
Submit your Questions for any of the presenting companies in advance to: Questions@EmergingGrowth.com Be sure to reference the Company the question is directed to.
The schedule for August 3, 2022, is as follows:
(All times are Eastern Time Zone)
We may see some schedule changes on Wednesday. To stay current on the schedule, please follow us on Twitter: https://twitter.com/EmergingGrowthC
10:30 – 11:00 ACME Lithium, Inc. (OTCQB: ACLHF) (CSE: ACME) Keynote speaker: Stephen Hanson, CEO
11:15 – 11:45 International Battery Metals, Ltd. (OTC Pink: IBATF), (CSE: IBAT) Keynote speaker: John Leslie Burba, CEO
12:00 – 12:30 Sanwire Corp. (OTC Pink: SNWR) Keynote speaker: Tod Turner, CEO
1:30 – 2:00 Stellar AfricaGold, Inc. (OTC Pink: STLXF), (TSXV: SPX) Keynote speaker: Jean Francois Lalonde, President / CEO
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Founded in 2009, Emerging Growth.com quickly became a leading independent small cap media portal. Over the years, it has developed an extensive history of providing unparalleled content, in identifying emerging growth companies and markets that can be overlooked by the investment community.
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The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in an effective and time efficient manner.
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All sessions will be conducted through video webcasts and will take place in the Eastern time zone. Our conference serves as a vehicle for Emerging Growth to build relationships with our existing and potential clients. Accordingly, a certain number of the presenting companies are our current clients, and some may become our clients in the future. In exchange for services we provide, our clients pay us fees in the form of cash and securities, and we may currently have, or in the future may have investments in the securities of certain of the presenting companies. Finally, certain of the presenting companies have paid us a fee to secure a presentation time slot or to present generally. The presentations to be delivered by the presenting companies (including any handouts of written materials) have not been approved, endorsed by or otherwise reviewed by EmergingGrowth.com nor should they in any way be construed to have been made in connection with an offer to sell or a solicitation of an offer to buy securities. Please consult an investment professional before investing in anything viewed on the Emerging Growth Conference or on EmergingGrowth.com.
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Critical Elements Lithium Corporation (TSX-V:CRE) (OTCQX:CRECF) (FSE:F12) ("Critical Elements" or the "Corporation") is pleased to announce the appointment of Mr. Yves Perron as Vice-President Engineering, Construction and Reliability
Mr. Yves Perron, Eng., MBA brings extensive experience in mining sector, engineering and construction in Québec to the Corporation. He was appointed Vice-President, Engineering and Construction by Stornoway Diamond in June 2012 and Vice-President, Engineering and Construction for Mason Graphite in August 2018. Mr. Perron served as Vice-President Engineering and Construction for Loop Industries since January 2021. Mr. Perron has over 25 years of experience in project management in the industrial sector within major international firms. Prior to joining Stornoway, Mr. Perron was Vice-President, Business Development and Project Manager at Delsaer and Seneca. He also held several management positions in areas of production, operation start-ups, maintenance, engineering and project management with ArcelorMittal and Xstrata. Mr. Perron holds a Bachelor Degree in Mechanical Engineering from Université du Québec - École de Technologie Supérieure in Montréal and a DEC in Civil Engineering Technology. In addition, he holds an MBA from Université du Québec in Montréal as well as an Executive MBA from Université Paris Dauphine.
In connection with this appointment, Mr. Perron has been awarded 300,000 stock options of the Corporation at an exercise price of $1.53 per share for a term of five years. These options will vest over a 12-month period at a rate of 25% per quarter, subject to terms and conditions of the Company's Stock Option Plan.
Jean-Sébastien Lavallée, CEO of Critical Elements commented: "We are very pleased to welcome Yves to our team. Yves was central to the success of the construction of Renard, a diamond project of nearly $1 billion of construction capital. He and his team were able to execute on the construction of this large mine project in Eeyou Istchee territory, Québec ahead of schedule and under budget. We are sure to benefit from his background and experience in delivering one of the most recent major operations successfully built in the Province."
About Critical Elements Lithium Corporation
Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Québec. Rose is the Corporation's first lithium project to be advanced within a land portfolio of over 700 square kilometers. On June 13th, 2022, the Corporation announced results of a feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at 82.4%, with an estimated after-tax net present value of US$1.9 B at an 8% discount rate. In the Corporation's view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 93% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government; The Corporation is working to obtain similar approval under the Québec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.
Patrick Laperrière Director of Investor Relations and Corporate Development 514-817-1119 plaperriere@cecorp.ca www.cecorp.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement concerning forward-looking statements
This news release contains "forward-looking information" within the meaning of Canadian Securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "scheduled", "anticipates", "expects" or "does not expect", "is expected", "scheduled", "targeted", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information contained herein include, without limitation, statements relating to mineral reserve estimates, mineral resource estimates, realization of mineral reserve and resource estimates, capital and operating costs estimates, the timing and amount of future production, costs of production, success of mining operations, the ranking of the project in terms of cash cost and production, permitting, economic return estimates, power and storage facilities, life of mine, social, community and environmental impacts, lithium and tantalum markets and sales prices, off-take agreements and purchasers for the Corporation's products, environmental assessment and permitting, securing sufficient financing on acceptable terms, opportunities for short and long term optimization of the Project, and continued positive discussions and relationships with local communities and stakeholders. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Although Critical Elements has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking information include, but are not limited to: Critical Elements' ability to secure sufficient financing to advance and complete the Project, uncertainties associated with the Corporation's resource and reserve estimates, uncertainties regarding global supply and demand for lithium and tantalum and market and sales prices, uncertainties associated with securing off-take agreements and customer contracts, uncertainties with respect to social, community and environmental impacts, uncertainties with respect to optimization opportunities for the Project, as well as those risk factors set out in the Corporation's year-end Management Discussion and Analysis dated August 31, 2021 and other disclosure documents available under the Corporation's SEDAR profile. Forward-looking information contained herein is made as of the date of this news release and Critical Elements disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE:Critical Elements Lithium Corporation
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