Balkan Secures Tango Lithium Project In Ontario

Balkan Mining and Minerals Ltd (“BMM” or “the Company”) (ASX: BMM) is pleased to announce it has secured an exclusive option to acquire up to 100% of the Tango Lithium exploration project located in the Georgia Lake Area, Thunder Bay North Mining District of Ontario, Canada (the “Tango Lithium Project” or “Project”). This agreement now provides the Company with two lithium projects in the Georgia Lake Area in Ontario.

• BMM secures exclusive option to acquire 100% of the Tango Lithium Project located in the Georgia Lake Area, Thunder Bay North Mining District of Ontario, Canada.
• The Project is located ~2.3 km east of Imagine Lithium’s Jackpot project and ~10km southeast of Rock Tech’s Georgia Lake Lithium Project.
• The Project consists of 41 contiguous claims covering 864 hectares (8.64 km2). It is situated in the Quetico Subprovince, consisting of multiple albite-spodumene type pegmatites.
• The Project is largely under explored with only 5 drill holes from 1955 to 1957 and a trench sample, referred to as a bulk sample in the historic documents, from the same time period weighing 213.2 kg that returned 1.4% Li2O.
• The acquisition further cements BMM’s growth strategy into highly prospective, Tier 1 Lithium mining jurisdictions.
• In conjunction with the transaction, BMM is to raise up to $400,000. Sixty Two Capital has been appointed as lead manager to the capital raising.

The Tango Lithium Project

The Tango Lithium Project comprises of 41 claim units (864ha) covering known pegmatite occurrences within the highly prospective Georgia Lake pegmatite field. The Georgia Lake pegmatite field includes Alix Resources’ Jackpot pegmatite located ~1km to the southwest and Rock Tech Lithium’s Newkirk pegmatite, which lies 3 km to the west of the Project. The Project is located along the southern shore of Georgia Lake, approximately 31km southwest of the Company’s Gorge Project, 143km northeast of Thunder Bay, 33km south of Beardmore, and 20km southeast of Macdiarmid. The property is accessible by following Highway #11 north of Nipigon, turning east onto Gorge Creek Road and then following dirt roads to the property.

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