Brunswick Exploration Intercepts 26.5 Meters Grading 1.51% Li2o in Initial Drill Results From Anatacau West

Brunswick Exploration Intercepts 26.5 Meters Grading 1.51% Li2o in Initial Drill Results From Anatacau West

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; " BRW " or the " Company ") is pleased to announce that it has received a first set of results from its recently completed drilling campaign at the Anatacau West project, located in the Eeyou Istchee-James Bay region of Quebec. The initial results presented today are from twelve holes with another six pending. Final assays for the remaining holes are expected in the coming weeks.

Drill result highlights

  • 26.5 metres at 1.51% Li2O in drill hole AW-23-01;
  • 9.9 metres at 1.03%   Li2O in drill hole AW-23-10;
  • 10.1 metres at 1.06%   Li2O , including 4.9 m at 1.63% Li2O and 12.6 metres at 1.12% Li2O in drill hole AW-23-14.

Mr. Killian Charles, President and CEO of BRW, commented: "With the start of our pan-Canadian grassroot lithium exploration campaign, one of the largest lithium exploration initiatives in North America, we are excited to receive assays confirming the presence of high-grade, near-surface and thick lithium-bearing pegmatites from our inaugural drilling campaign at Anatacau West. Our drilling tested the pegmatites to a shallow depth and their remains substantial opportunities for more growth. With minimal regional prospecting for lithium, we look forward to continue expanding the lithium potential both at the Anatacau West and the Anatacau Main project over the coming weeks and months."

Anatacau West Drilling Campaign Overview

Following drilling completed to date, BRW believes it has intercepted at least two continuous, distinct spodumene-bearing pegmatites. All of the pegmatites are oriented north-northeast, are closely spaced in an on-echelon pattern and dip steeply towards the west. The pegmatites are hosted in metasedimentary rocks in an east-west deformation corridor similar to Allkem's neighboring James Bay Lithium Deposit.

Drilling has initially focused on near surface mineralization with the pegmatites only being drill tested to a maximum vertical depth of 137 meters. They remain open at depth. Furthermore, potential exists for repetition of new pegmatites further to the south and to the east.

Lithium mineralization consists predominantly of spodumene with minor lepidolite. Spodumene crystals are generally well-formed, decimetric in scale (up to 10cm) and have a white to pale grey color. Importantly, grade is strongly correlated with visually identified spodumene percentage in core allowing BRW to rapidly ascertain the lithium potential of mineralized intercepts in exploration drilling.

Next Steps

Starting next week, our exploration campaign in Quebec will begin with regional, helicopter-supported prospecting at the Anatacau West and Anatacau Main projects from the nearby Wabamisk camp. Already, BRW has identified more spodumene-bearing pegmatites at Anatacau Main, located 22 km east from Anatacau West. These pegmatites have been minimally prospected and will be a priority target. BRW expects to conduct follow-up on stripping and/or drilling on several targets across both projects once it has completed an initial wave of prospecting.

Concurrent to work at Anatacau West and Anatacau Main, BRW will also be operating a camp at the PLEX project to the north and a smaller fly-camp at the Mirage project located further east from PLEX. The Company's portfolio in the entire Eeyou Istchee-James Bay region includes over 250 untested S-type pegmatites measuring a minimum strike length of 500 meters (for more information on the BRW's regional prospecting plan for the Eeyou Istchee-James Bay region, see NR dated May 11 2023).

Table 1 : Mineralized Intercepts from the Winter 2023 Anatacau West Drilling Campaign

Hole ID From (m) To (m) Interval (m) Li 2 O (%)
AW-23-01 8.6 12.8 4.2 0.21
30.6 57.1 26.5 1.51
AW-23-02 29.6 37.2 7.6 0.69
AW-23-03 No Significant Interval
AW-23-04 31.2 34 2.8 Assays Pending
AW-23-05 59.7 64.3 4.6 Assays Pending
93.3 100.9 7.6 Assays Pending
178.9 197.1 18.2 Assays Pending
AW-23-06 154.5 164.9 10.4 0.57
Incl. 156.5 157.5 1.0 1.29
and 161.5 164.1 2.6 1.55
AW-23-07 No Significant Interval
AW-23-08 31.1 32.1 1.0 0.52
AW-23-09 No Significant Interval
AW-23-10 44.7 47 2.3 1.09
54.2 57.1 2.9 0.45
63 72.9 9.9 1.03
Incl. 66 70 4.0 1.30
AW-23-11 170.2 172.5 2.3 0.13
AW-23-12 No Significant Interval - Assays Pending
AW-23-13 No Significant Interval - Assays Pending

Note: All drill holes are NQ core size and all intervals are core length. True width of intervals is not confirmed but estimated to be approximately 70% of true width. Significant intervals are assay values above 0.1% Li2O. Further analysis revealed that mineralization in AW-23-03 was composed of cookeite, a phyllosilicate lithium mineral and not spodumene.

Table 1 (con't) : Mineralized Intercepts from the Winter 2023 Anatacau West Drilling Campaign

Hole ID From (m) To (m) Interval (m) Li 2 O (%)
AW-23-14 16.9 17.9 1.0 1.04
117.2 127.3 10.1 1.06
Incl. 121.1 126 4.9 1.63
161.6 174.2 12.6 1.12
AW-23-15 No Significant Interval
AW-23-16 43.7 47.2 3.5 1.07
Incl. 43.7 45.7 2.0 1.34
148 150 2.0 0.63
Incl. 149 149.4 0.4 1.19
AW-23-17 26 31 5.0 Assays Pending
35.7 68.1 32.9 Assays Pending
216.6 221.6 5.0 Assays Pending
224 226.5 2.6 Assays Pending
AW-23-18 9 28.4 19.6 Assays Pending
163.3 166.8 3.5 Assays Pending

Note: All drill holes are NQ core size and all intervals are core length. True width of intervals is not confirmed but estimated to be approximately 70% of true width. Significant intervals are assay values above 0.1% Li2O.

Figure 1 : Plan Map of Drill Holes Completed at Anatacau West

Figure 1: Plan Map of Drill Holes Completed at Anatacau West

Table 2 : 2023 Winter Drill Hole Location

Table 2: 2023 Winter Drill Hole Location

Quality Assurance / Quality Control

BRW adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses. Drill core samples from the Company's projects are securely transported to a core facility on site, where they are logged and sampled over 0.5 to 1.0 meter intervals. Samples selected for assay include insertion of quartz blanks and certified reference materials into sample batches at a rate of approximately 10 per cent. Samples are shipped to ALS Canada Ltd.'s preparation facility in Val-d'Or. Pulps are analyzed at the ALS Canada Ltd. facility in Vancouver. All samples are analyzed by sodium peroxide fusion with ICP-AES/MS finish. Reported drill intersections use a lower analytical cut off value of 0.1% Li2O.

Qualified Person

The scientific and technical information contained in this press release in regards to Quebec has been reviewed and approved by Mr. Francois Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing the most extensive grassroots lithium property portfolio in Canada with holdings in Quebec, Ontario, Saskatchewan, Manitoba, New Brunswick and Nova Scotia.

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. 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 news release.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0095c1ef-c37b-4c36-b380-600e4855e3ee  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/640e966c-4b58-4c8e-97d4-6372d8ac4d76


Investor Relations/information Mr. Killian Charles, President and CEO (info@brwexplo.ca)

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Brunswick Exploration Announces Non-Brokered Private Placement of $3M

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Brunswick Exploration Inc. (" BRW " or the " Corporation ") is pleased to announce a non-brokered private placement (the " Offering ") to raise gross proceeds of up to $3,000,000 from the sale of the following:

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Mr. Killian Charles, President and CEO of BRW, commented: "With the lithium potential of Greenland newly confirmed, we have rapidly consolidated all high priority targets in western Greenland. BRW now controls one of the most significant grassroot exploration portfolios in Greenland and is the only company actively exploring for lithium in the country. Our new holdings all benefit from proximity to communities and tidal water to ensure that logistical and infrastructure needs are in place for potential future development. Between our new Ivisaartoq discovery and our expanded portfolio, we look forward to launching a major lithium exploration initiative in 2025 across Greenland as soon as possible. We are very keen to work with the Greenlandic communities, government and European Commission as we launch this exciting endeavor."

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Brunswick Exploration Discovers Greenland's First Spodumene Pegmatite in Major Evolved Pegmatite Field

Brunswick Exploration Discovers Greenland's First Spodumene Pegmatite in Major Evolved Pegmatite Field

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; " BRW " or the " Company ") is extremely pleased to announce that it has discovered a lithium-bearing pegmatite containing spodumene within the company's Nuuk License, located roughly 90 kilometers north-east of Nuuk, the capital of Greenland (Figure 1). The newly discovered pegmatite outcrop is open in all directions and is part of a significant evolved pegmatite field measuring over 20 kilometers long known as the Ivisaartoq Field, marking the first confirmed lithium discovery in the country.

Mr. Killian Charles, President and CEO of BRW, commented: "We are delighted to announce the first hard rock lithium discovery in Greenland. This discovery was made near the end of our field season after spending limited time in the country and leveraged Brunswick's strong exploration expertise. Prior to our discovery at Ivisaartoq, there were no confirmed showings in Greenland and it demonstrates the strong potential for additional discoveries across the entire country which has never been previously explored for lithium. Importantly, it represents a significant opportunity for the Company as we remain first movers for lithium exploration in Greenland."

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Brunswick Exploration Outlines Significant New Lithium Potential in Tills at Anatacau West

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Figure 1 : Spodumene Grain Count at Anatacau West

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This campaign focused on the Central Zone, including the MR-6 and MR-3 dykes (see June 4, 2024 press release), and has continued to intersect wide and well mineralized intervals on their extension and at depth.

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Altech Batteries Ltd  CERENERGY Battery Project Funding Update

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Highlights

- Financing plan and target structure in place

- Funding investment teaser documents and data room established

- Reach out to 10 commercial banks and 2 venture debt funds - all positive interests

- Shortlisting potential lead bank

- Equity Funding - potential sale of minority interest of the project to realise capital and strategic value

- Discussions and draft term sheets shared with investors

- Offtake agreement LOI signed with ZISP

On 14 June 2024, the Company, through its Germany subsidiary Altech Batteries GmbH ("ABG"), announced the appointment of global big four professional services firm ("funding adviser") to assist in securing finance for the construction of Altech's 120MWh CERENERGY(R) battery manufacturing plant in Germany. The project's financing strategy is structured across three key areas: debt, equity, and grants.

These sources will cover not only the capital expenditures but also financing costs, working capital, debt service coverage, and an additional contingency for potential business interruptions, See Figure 1*.

DEBT PROCESS

A funding invitation document (investment teaser) has been finalised and distributed to various financial institutions for debt funding in the project. The Group has engaged ten commercial banks and two venture debt funds in a first market round, receiving predominantly positive initial feedback. Several of these institutions have expressed strong interest in participating in the financing. The Group is now in the process of shortlisting potential lenders to identify the most suitable financial partners for the project. To support a thorough due diligence process, a secure data room has been set up, providing detailed project information to interested financiers and ensuring full transparency. The DFS financial model has been adjusted to stress-test various funding scenarios tailored to the lending institutions ABG has engaged with. Further steps involve determining the most suitable banks to form a syndicate and appointing a lead bank to guide the lending process. This syndicate will play a crucial role in structuring the financing arrangement to meet the project's requirements.

EQUITY FUNDING

In addition to ongoing debt financing efforts, the Group has engaged several equity advisers to support the equity component of the project's funding package. As part of this strategy, the Altech Group plans to divest a minority interest in the project to one or two strategic investors. This partial divestment aims to attract investors who can bring not only capital, but also strategic value to the project, aligning with the CERENERGY(R) project's long-term growth and sustainability objectives.

The Group is specifically targeting large utility groups, data centre operators, investment funds and corporations that are heavily involved in the green energy transition. These entities are seen as ideal partners due to their strong alignment with the project's focus on sustainable energy solutions, as well as their capacity to provide substantial financial backing.

To date, significant progress has been made in these equity discussions. Several Non-Disclosure Agreements (NDAs) have been signed, allowing for deeper engagement with prospective investors. Altech has also circulated draft term sheets to a number of interested parties, outlining the proposed terms and conditions for investment. These documents serve as a starting point for negotiations, paving the way for more detailed discussions regarding the potential equity stake and partnership structure.

The strategic decision to divest a portion of the project is aimed at reducing the overall financial burden on the Company while bringing in experienced partners who can contribute to the project's success. By securing both the equity and debt components, the Company aims to finalise the full financing package, ensuring the timely construction and commissioning of the CERENERGY(R) battery plant. The next steps will focus on advancing these discussions and converting interest into formal commitments, which are crucial for moving forward with the project.

OFFTAKE ARRANGEMENTS

On 13 September 24, Altech announced the execution of an Offtake Letter of Intent between Zweckverband Industriepark Schwarze Pumpe (ZISP) and Altech Batteries GmbH. Under this Offtake Letter of Intent (LOI), ZISP will purchase 30 MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The price of these batteries has been agreed and aligns with the sales price contained within Altech's Definitive Feasibility Study. The purchase of these batteries is subject to performance tests, battery specifications and the batteries meeting customer requirements. This offtake LOI constitutes an important aspect of the financing process. This lays the foundation for additional offtake arrangements, which are currently in progress. These agreements are vital for advancing our financing and construction timelines for the CERENERGY(R) project.

CEO and MD Mr Iggy Tan stated "The funding stage of any project is the most complex and challenging process of any project. Securing a big four funding adviser with expertise and a global network is a major step in our financing efforts. Altech is advancing both debt and equity discussions, along with offtake agreements, to fully fund the CERENERGY(R) project. We are seeing strong interest, especially from European banks and potential equity partners".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/PO741A78

To view MD Iggy Tan explain the Funding, please visit:
https://www.abnnewswire.net/lnk/23705649



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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An aggregate of 3,150,000 units (the " Units") of the Company were issued in the third and final tranche at a price of $0.05 per Unit for gross proceeds of $157,500, each Unit being comprised of one common share in the capital of the Company (each a "Common Share") and one-half common share purchase warrant (each a "Warrant"), each Warrant entitling its holder thereof to acquire one additional common share (each a "Warrant Share") at a price of $0.10 per Warrant Share for a period of 60 months from the closing date. (the "Offering").

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