Battery Metals

Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (FSE: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that it has commenced a follow-up drill program at its Graal nickel-copper-cobalt property in the Lac St-Jean region of Quebec.

The minimum 5,000m drill program aims at testing the geophysical anomalies characterized by high conductance that were highlighted during a recent FL-TDEM geophysical survey (See news release April 19, 2022). The objective is to verify the continuity and the extent of the nickel-copper-cobalt mineralization and search for the zones with increased thickness. Laurentia Exploration Services is conducting the drill program.

Previous diamond drilling along with geophysical surveys at Graal identified several disseminated to massive sulphide zones with varying thickness up to 13.1m containing significant grades of nickel and copper and in addition lesser amounts of cobalt, platinum, and palladium. Drilling was paused earlier this year to allow for the reception of pending assay data and completion of the geophysical survey (See news release April 4, 2022).

"Our geological team is quite excited to resume drilling at Graal. Almost every drill hole so far has encountered disseminated to massive sulphides with strong nickel, copper, and cobalt mineralization. What we have already discovered at the property suggests that it has the potential to become an important part of the North American battery metals supply corridor. The current drill program will give particular attention to the geophysical survey's discovery of a large 1.7km by 850m anomaly characterized by high conductance which we will be testing with the drill bit," stated Matt Halliday, President, COO and VP Exploration.

In addition to the drilling, the Company is pleased to announce that it has engaged Archeo-Mamu under the direction of Jean-Simon Labbé to complete a field investigation on the property after a desktop study identified potential zones which could have the presence of artefacts. The Company will be pleased to provide the results of this independent investigation to the Pessamit Innu Council and other government entities at request.

At Graal, the geophysical survey program identified 9,475m of drilling targets in two levels of priority where an initial 5,070m were identified as a first priority, as indicated in the map and chart below. The initial drilling will focus on near-surface mineralization. The larger target indicated by the geophysical survey will be drilled at a later stage.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2093/127417_39619abc744a58a7_002.jpg

Figure 1: Drill program location with priority table - labelling of zone subject to change

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2093/127417_39619abc744a58a7_002full.jpg

Qualified person

The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.

In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.

The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 10,000-metre drill program on the Graal property and an airborne VTEM geophysical survey is being conducted at it Lowney-Lac Edouard property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario where it will be exploring in 2022.

Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com.

"Frank J. Basa"
Frank J. Basa, P. Eng.
Chief Executive Officer

For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

This news release may contain forward-looking statements which include, but are not limited to, comments regarding future financings, if any, pursuant to the short form base shelf prospectus referred to above, and comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, future financings, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company's Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company's profile on SEDAR at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127417

News Provided by Newsfile via QuoteMedia

CCW:CA
Canada Silver Cobalt Works

Canada Silver Cobalt Works

On Track for Silver and Battery Metals Production Within 2 Years

Canada Silver Cobalt Works Inc. (TSXV:CCW, OTCQB:CCWOF, FWB:4T9B) is a dual-focus silver and battery metals (nickel, copper, cobalt) exploration/development company with operations in Northern Ontario and Quebec.

These metals are all classified as energy metals involved in the electrification trend underway around the world and they will continue to be in demand for many years to come.

The Company has two major projects underway – Castle East and Graal – with exciting announcements in the coming weeks/months.

Upcoming Catalysts:

  • Major update in the silver resource estimate (with cobalt byproduct) planned for end-March or early April, 2022 at the Castle East deposit, which has the highest silver grades in the world. The update will include 7 new high-grade silver-cobalt veins discovered since the last estimate (based on only 1 vein) was published;
  • Numerous high-grade silver drill results (highest so far is 89,853 g/t Ag or 2,621 oz/ton) from continued drilling at Castle East, which is in Northern Ontario;
  • Additional drill results from the Graal project in Northern Quebec where the company has drilled into major sulphides containing nickel, copper and cobalt;
  • Completion of environmental baseline studies and the filing of an application for permits to build a ramp to access the high-grade silver veins at Castle East that will be processed into silver dore bars at the company’s fully permitted TTL ‘mini-mill’ facility in nearby Cobalt, Ontario;
  • Completion of a PEA in the summer on the economics of constructing the ramp down to the high-grade veins at around the 500m level, which will include revenues from the silver processed from large bulk samples that can be extracted and providing the company with the ability to drill from underground to further expand the size of the deposit.

Fast-Tracking Silver Production (with cobalt by product)

Canada Silver Cobalt is following a fast-track development model towards producing silver along with battery metal cobalt as a byproduct – both 'energy' metals needed to advance the world's alternative energy future.

Instead of the traditional route taken by mining companies to stretch out development over many years in a series of steps – exploration drilling, then resource studies, then engineering studies, followed by permitting – Canada Silver Cobalt is doing all of these at the same time in what it describes as “real time" mine development.

As the Company conducts its drill program to increase resource estimates at its spectacular high-grade silver-cobalt deposit at Castle East, it also is doing the environmental studies and preparing the applications for permits to construct a ramp down to the 500-meter level in order to extract the very high-grade silver-cobalt it has discovered there. The Company is also working on the engineering for the ramp and organizing contractors for constructing the ramp when the permits are received. Once the high-grade material is extracted, the Company can use its 100% owned “mini-mill" facility nearby which during past mining in the area produced as much as 2.5 million ounces of silver annually for mining companies when it operated as a government facility in the 1900s.

If all goes well, Canada Silver Cobalt could be producing enough silver within two years to pay for the ramp construction in a very short time frame and also fund additional exploration/development of its properties. The Company is also working on optimizing its proprietary, environmentally-compliant Re-2Ox extraction process technology which has been proven in lab tests to produce cobalt sulphate (and nickel and copper sulphates) in line with the strict specifications manufacturers require for EV batteries.

The Company also has other initiatives underway that will advance its position in the precious and battery metals market including exploration of gold properties in Ontario and nickel-copper-cobalt properties in northern Quebec.

More information below and at the Company's website and in the Company's investor presentation at www.canadasilvercobaltworks.com

Overview

Canada Silver Cobalt Works Inc. (TSXV:CCW,OTCQB:CCWOF,FWB:4T9B) has 100% ownership of the past-producing silver-cobalt Castle mine and the 78 sq. km Castle Property with strong exploration upside in the prolific past producing Gowganda high-grade Silver Camp of Northern Ontario.

The Company's recent acquisition of the Temiskaming Testing Laboratories in Cobalt, Ontario, the only facility in the Northern Ontario Silver-Cobalt District that combines bullion pouring, bulk sampling, commercial assaying and e-waste processing, makes Canada Silver Cobalt a vertically integrated leader in Canada's Silver-Cobalt heartland.

This facility will also become the new home of Canada Silver Cobalt's 100 percent-owned Re-2OX Process, an environmentally friendly solution for producing technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations.

The company recently announced that it has engaged SGS Canada's Lakefield Testing Facility to design a Re-2Ox pilot plant which will eventually be located at the TTL facility. It has also contracted with SGS to test the Re-2Ox process for battery recycling.

A notable highlight of recent drilling on the property is the discovery in the Castle East Robinson Zone of massive native silver grades of up to 89,853 silver (2,621 oz/ton) over 0.3 meters, with intercepts also showing cobalt grades up to 2.2% Co. Further drilling has greatly expanded the potential scale of the discovery.

On May 28, 2020, the company announced a sizeable Maiden Inferred Resource estimate of 7.6 million ounces of high-grade silver grading an extraordinary 8,582 g/t (250.2 oz/ton) silver the highest grade silver resource in the world. The company plans to upwardly revise this resource estimate in Q1 2022 based on the 60,000-meter drill program underway and the discovery of seven new high-grade silver veins since the initial resource estimate (which was based on only one vein).

As of the end of January 2022, 55,000 meters of the drill program had been completed and additional drilling is underway, with results pending. The Robinson Zone is 1.5 km east of the Castle Mine's adit and two of its previous mine shafts when it was a past producer in the 1900s. The company intends to restart the mine and is proceeding with various work including permitting towards that goal.

Agnico Eagle Mines Limited (TSX:AEM) operated the Castle mine in the 1980s when it was considered to be the highest-grade silver mine in the camp with an average mining grade of 26 ounces per ton silver. In its history, the mine produced 9.6 million oz silver and 300,000 lbs of cobalt as a by-product.

CCW is in a good position to take high-grade ore and process it into silver bars at TTL. In its initial years in the Cobalt Camp, Agnico Eagle processed high-grade silver ore at the TTL bulk facility and poured 1.6 million oz of silver annually into bars using TTL's bullion furnace. Other companies also produced another 1 million oz silver per year.

Also in the works at CCW is the design, planning and permitting for a ramp going down to the extremely high-grade silver discovery in the Robinson Zone at Castle East at about the 500 meter level.

The ramp would provide two extremely important benefits: 1) it would provide the company a way to extract the very high-grade silver to process at TTL into silver bars and the revenue generation from that would be considerable and would help pay for the ramp; and 2) the ramp would actually be an important exploration tool since it would likely intercept vein systems as it cut through the rock and drill pods could be established in key locations to permit underground horizonal-fan drilling for exploration at a much lower cost than drilling from the surface.

The Castle mine has fully-permitted access for its underground workings, providing the company with a significant advantage when it comes to putting the mine back into production. CCW has used its adit access for underground drilling and bulk sampling on Level 1 in preparation to resume mining.

Underground drilling on Level 1 at Castle recently discovered an exceptionally high-grade silver-cobalt vein structure. Initial drill results include seven meters grading 2.28 percent cobalt, 261 g/t silver and 1.65 percent nickel, 2.54 meters grading 1.87 percent cobalt, 4,763 g/t silver, 1.29 percent nickel and 1.19 g/t gold and 0.60 meters grading 3.16 percent cobalt and 10,741 g/t silver.

In a surprising development, high-grade gold of up to 22.7 g/t was unexpectedly discovered – along with high-grade cobalt, silver and nickel – in underground drilling on Level 1 in late 2019 (results announced on January 3, 2020).

In addition to the company's exploration efforts, CCW is working on obtaining an amendment to its existing advanced exploration permit so the company can move ahead with its proposed tailings program. Recent testing of material from the Castle mine's historical tailings pond has returned a calculated head assay of 459 g/t silver and produced a high-purity flotation concentrate grading 18,486 g/t silver with an initial recovery of 70 percent.

The company's on-site proprietary gravity separation pilot plant has produced an 8.25 percent cobalt concentrate from a waste pile left by previous operators. Head grades of the material from the waste pile tested graded 0.390 percent cobalt and 1,905 g/t silver.

Canada Silver Cobalt Works is led by Chairman and CEO Frank Basa, who has over 30 years of global experience in mining and development as a professional hydro-metallurgical engineer with expertise in milling, gravity concentration, flotation, leaching and refining of silver, cobalt, gold and other metals. Basa is also responsible for developing the company's proprietary Re-2OX hydrometallurgical process, an environmentally-friendly approach to extracting metals without the need of a smelter.

The battery industry has specific criteria that needs to be met in terms of its materials. For lithium-ion batteries it is necessary for companies to produce a 20 percent cobalt sulfate with limited arsenic. Canada Silver Cobalt Works has been able to demonstrate that its Re-2OX process is capable of producing a battery-grade 22.6 percent cobalt sulfate meeting these industry specifications.

Canada Silver Cobalt Works' portfolio also includes the Beaver and Violet silver-cobalt projects, both past-producers in the Cobalt camp.

Company Highlights

  • 100-percent ownership of three past-producing properties including the Castle mine near Gowganda and the Beaver and Violet silver-cobalt mines near Cobalt. The company's goal is to resume underground mining using modern mining techniques.
  • Silver and cobalt are essential metals in renewable energy technology. Cobalt is used in three of the four main types of lithium-ion electric car batteries, and silver is used in 90 percent of crystalline silicon photovoltaic cells in solar panels.
  • Preliminary metallurgical testing in 2017 returned excellent silver and cobalt recoveries and concentrate grades and subsequent testing confirmed it.
  • Exceptional discoveries at Castle since 2011 from sampling and drilling, intersecting very high grades of silver (mentioned above) and up to 4.68 percent cobalt along with nickel and gold.
  • Channel sampling in 2014 exposed significant gold and copper mineralization and led to the discovery of Castle Golden Corridor zone.
  • Subsequent geophysical and geochemical programs at the property has identified numerous high-potential drill targets.
  • Proprietary Re-2OX process achieves 99 percent cobalt recovery.
  • The lab/bulk sampling facility acquisition provides Canada Silver Cobalt Works with additional revenue opportunities and helps the company realize its goal of becoming a vertically-integrated leader in North America.

Key Projects

Canada Silver Cobalt Works' flagship property: Castle Mine

The 78 square-kilometer Castle cobalt-silver project is located in the historic Gowganda mining camp, 85 kilometers northwest of Cobalt, Ontario. The camp was responsible for more than 50 million ounces of high-grade silver production in the 1900s. Infrastructure on and near the property includes year-round access to roads, water, diesel power, three shafts and an adit.

Two geological trends have been identified on the property including a north-south trending Nipissing diabase intrusive, which is the typical host rock for silver-cobalt-nickel deposits in the area, and a potential gold trend along the Bloom Lake fault.

The project hosts the historical Castle mine, a former silver-cobalt mine that has reportedly produced 300,000 pounds of cobalt and 9.5 million ounces of silver. Historic underground ore grades averaged 25 ounces per tonne silver between 1923 and 1930 and 26 ounces per tonne silver between 1979 and 1989. The Castle mine's previous owner, Agnico Eagle, ceased production in 1989 due to low silver prices (in the range of US$6 per ounce).

The Cobalt camp is primarily comprised of cobalt veins that contain varying amounts of silver. In the past, miners focused on veins that contained high-grade silver and ignored the low-grade silver veins even though they contained high-grade cobalt. Cobalt was not considered important at the time and routine drill core assays only focused on silver content.

Despite the past-production at Castle, the property remains largely underexplored and may host several significant high-grade underground cobalt and silver deposits.

Castle Golden Corridor Zone

The previously discovered 800-meter Castle Golden Corridor zone is located about 1.7 kilometers from the Castle #3 shaft and has a geological setting similar to the past-producing Kirkland Lake deposit (40 million ounces of gold) located 75 kilometers to the northeast. The zone is highly prospective for high-grade hydrothermal-related gold systems with copper. The zone has been drilled to a depth of 300 meters.

Channel sampling work conducted at the Castle Golden Corridor zone in 2014 returned 2.2 meters grading 2.24 g/t gold and copper values as high as 1.03 percent. Canada Silver Cobalt Works has also identified a 725-meter-long, east to west-trending IP anomaly with an associated chargeability halo in this area.

Access to Underground Workings

Canada Silver Cobalt Works is the only company in the Cobalt camp to have fully-permitted underground access via an adit. This allows for easy entry into the mine for extracting bulk samples and exploratory drilling to target new discoveries. Access to the underground workings also speeds up the time to production as CCW won't have to spend time establishing the mine adits. Drilling from underground can also be less costly and provides greater probability of success. CCW has mapped previously discovered veins using its extensive database which contains all of the past drilling and mine workings from the early 1900s.

Throughout 2018 and 2019, Canada Silver Cobalt Works conducted underground drilling at the Castle mine. Twenty-five percent of the assayed holes returned high-grade intercepts of 1.77 meters grading 1.05 percent to 3.7 percent cobalt. Additional drilling highlights include:

  • 28 percent cobalt, 261 g/t silver and 1.65 percent nickel over seven meters in hole CA18-001
  • 70 percent cobalt, 4,763 g/t silver, 1.29 percent nickel and 1.19 g/t gold over 2.54 meters in CA18-002
  • 16 percent cobalt and 10,741 g/t silver over 0.60 meters in CA18-003

Pilot Plant

Management is working towards the eventual construction of a state-of-the-art 600 tonne per day gravity flotation cyanidation mill at Castle or nearby.

An on-site pilot plant has produced an 8.25 percent cobalt concentrate from waste material. Head grades from the waste pile left behind by previous operators tested 0.390 percent cobalt and 1,905 g/t silver.

TTL: Metallurgical Potential for Cobalt Products and Battery Recycling

With the goal of realizing the company's vision of becoming a vertically-integrated leader in North America, Canada Silver Cobalt Works has acquired Temiskaming Testing Labs (formerly PolyMet Labs), an ISO-certified lab facility with mineral and precious metals processing located in Cobalt, Ontario.

The 23,000-square-foot facility provides bullion pouring, bulk sampling, commercial assaying and e-waste processing services to the numerous mining operations in the area. The facility is also capable of processing mixed computer boards through its shredder and ball mill to recover precious and base metals.

The building is located near the company's Castle and Beaver mines and will host Canada Silver Cobalt Works' headquarters and proprietary Re-2OX process.

The company has poured three 300-ounce silver bars in a proof-of-concept test at the facility. The test was able to prove that the Castle mine has the potential to produce silver as well as cobalt from the underground and surface waste material and tailings. The pilot plant at the Castle mine separated leaf silver and created a silver gravity concentrate from mineralized waste material. The concentrate and silver leaf were smelted at the lab before forming the bars.

CCW was also able to recover cobalt from the same mineralized waste material using its Re-2OX process. The recovered materials were then sent to SGS Lakefield to produce a cobalt sulfate.

The Re-2OX hydrometallurgical process

The Re-2OX hydrometallurgical process is designed to recover multiple metals and elements from all types of feedstocks with varying chemistries. The process was developed by Canada Silver Cobalt Works CEO Frank Basa in conjunction with the National Research Council of Canada (NRC), Canada's premier scientific research organization.

To date, Canada Silver Cobalt Works has produced a cobalt sulfate in the lab and is working on developing other products for potential customers that utilizes the Re-2OX process. To this aim, the company has been conducting advanced-stage testing on the process with SGS Lakefield to determine the viability of recycling spent lithium-ion batteries. Canada Silver Cobalt Works believes that the Re-2OX process can help fulfill the demand for ethically-sourced cobalt, creating compelling opportunities in the battery and renewable energy sectors.

Re-2Ox Process Flowsheet

In May 2018, Canada Silver Cobalt Works announced that the Re-2OX process had successfully recovered 99 percent cobalt and 81 percent nickel from a composite of gravity concentrates. The process was also successful in removing 99 percent of arsenic, placing the company in a competitive position as battery manufacturers prefer to use cobalt with low arsenic contents.

Canada Silver Cobalt Works' Other Projects

Canada Silver Cobalt Works also owns two other highly-prospective properties in the Cobalt mining camp: the Beaver and Violet mines.

Cobalt Potential at Beaver

The Beaver silver-cobalt project is located in Ontario's historic Cobalt mining camp, adjacent to the former Timiskaming silver mine and approximately 80 kilometers southeast of the past-producing Castle mine. The project itself includes a former producer, the Beaver mine, which produced 7.1 million ounces of silver and 139,472 pounds of cobalt from 1907 to 1940.

High-grade mineralization has been repeatedly confirmed at Beaver. In 2017, selected hand-cobbed sample material at surface averaged 4.68 percent cobalt, 46.9 g/t silver, 3.09 percent nickel, 46.9 g/t silver and 0.08 g/t gold.

This follows sampling of historical waste rock and tailings at Beaver in 2013 that returned 7.98 percent cobalt, 3.98 percent nickel and 1,246 g/t silver.

Canada Silver Cobalt Works also holds the formerly producing Violet silver-cobalt mine located near the Beaver property in the Cobalt mining camp.

Cobalt rosettes in a quartz-carbonate vein at the Beaver Silver Mine

Management Team

Frank J. Basa, P. Eng.- CEO and Chairman

Frank Basa has over 28 years' global experience in mining and development as a professional hydro-metallurgical engineer with expertise in milling, gravity concentration, flotation, leaching and refining of silver, cobalt, gold and other metals. He is a member of the Professional Engineers of Ontario and a graduate of McGill University. Basa has been the Chairman, Chief Executive Officer and President of Granada Gold Mine Inc. since June 18, 2004.

Mr. Matt Halliday, P.Geo. - President, COO, VP Exploration

Mr. Halliday first joined Canada Silver Cobalt late last year from Kirkland Lake Gold where he served as resource geologist. A graduate of Dalhousie University in 2007, Mr. Halliday honed his skills for almost eight years with SGS Geostat, known as global leaders in orebody modelling and reserve evaluation. In 2016 he was part of the SGS team that pushed machine learning into the geological realm and claimed top prize in the $1 million Integra Gold Challenge.

Robert Suttie - CFO

Mr. Suttie currently works with Marrelli Support Services as its President, possessing more than 20 years of experience, ten of which were in public accounting prior to his tenure with the Marrelli organization. Mr. Suttie specializes in management advisory services, accounting and the financial disclosure needs of the Marrelli group's public client base. Mr. Suttie also serves as Chief Financial Officer for a number of other junior mining and technology companies listed on the TSX-V and CSE, leveraging his skills and experience to become integral to the reporting issuers.

Dianne Tookenay, M.P.A. B. Admin - Director

Dianne Tookenay holds a Certificate in Mining Law from the Osgoode Hall Law School, York University, a Joint Masters of Public Administration from the University of Manitoba, a Bachelor of Administration from Lakehead University and Native Band Management and Indian Economic Development Diplomas from Confederation College Applied Arts and Technology. Tookenay's experience, knowledge and deep roots within the First Nation communities will continue to add significant value to Canada Silver Cobalt Works' development efforts over the coming years.

Robert Setter B.A. Econ. - Director

Robert Setter is the former Senior Financial Editor for Report on Mining. He brings an extensive business, marketing and analysis background to the company, is a graduate of UBC and holds a BA in Economics. Setter serves as Corporate Research and Analytics for Granada Gold Mine Inc. since 2012.

Tina Whyte - Corporate Secretary

Tina Whyte brings over 20 years of experience in the corporate and securities industry. Her expertise spans to areas of corporate governance, continuous disclosure, financing transactions, regulatory filings and compliance. Whyte holds corporate secretary positions with other publicly-listed companies.

Canada Silver Cobalt Intersects 0.89 % Nickel EQ over 5.80 Meters in Zone of Massive Sulphides at Graal

Canada Silver Cobalt Intersects 0.89 % Nickel EQ over 5.80 Meters in Zone of Massive Sulphides at Graal

(TheNewswire)

Canada Silver Cobalt Works Inc.

In addition, the remainder of all pending assays from the 2021-2022 winter drill program have been received; this will allow completion of a technical report at the Graal property.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
CANADA SILVER Announces Passing of Director Jacques Monette

CANADA SILVER Announces Passing of Director Jacques Monette

(TheNewswire)

Canada Silver Cobalt Works Inc.

June 6, 2022 TheNewswire - Coquitlam, BC, Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt) announces with great sadness the passing of its long-time director Jacques Monette.  Jacques has been an integral part of Canada Silver Cobalt since 2008.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Canada Silver Cobalt AGM Results

Canada Silver Cobalt AGM Results

(TheNewswire)

Canada Silver Cobalt Works Inc.

Coquitlam, BC TheNewswire - May 25, 2022 -- Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") announces that the Annual General Meeting was held today, Wednesday, May 25, 2022 and is pleased to report that all resolutions were approved.   Resolutions passed are listed below.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Canada Silver Cobalt Begins Exploration at its Eby-Otto Gold Property Near Kirkland Lake

Canada Silver Cobalt Begins Exploration at its Eby-Otto Gold Property Near Kirkland Lake

(TheNewswire)

Canada Silver Cobalt Works Inc.

The Eby-Otto property is located in a prime geological setting with mineralized veins identified at surface, and is proximal to both the Cadillac-Larder Lake Break and an existing high-grade gold mine.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Canada Silver Cobalt Enters into LOI with Power Group Projects to Purchase Cobalt Area Properties

Canada Silver Cobalt Enters into LOI with Power Group Projects to Purchase Cobalt Area Properties

Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (FSE: 4T9B) (the "Company" or "Canada Silver Cobalt") announces that has entered into a non-binding letter of Intent ("LOI") dated April 20, 2022 with Power Group Projects Corp. ("PGP") which contemplates a transaction whereby PGP would sell its interest in specific Cobalt area properties (the "Property), located in Coleman, Bucke and Lorrain Townships in the Larder Lake Mining Division of Ontario to the Company. The LOI is subject to a 90-day exclusivity and due diligence period.

Under the terms of the LOI, the Company and PGP would enter into a formal agreement whereby the Company would purchase a 100% interest, subject to a 2% NSR in specific PGP Properties and the data related to the Property subject to a payment of $75,000 cash and the issuance of 300,000 shares of Canada Silver to PGP upon closing the transaction. The transaction is subject to TSX Venture Exchange acceptance.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Noram Receives Results for CVZ-81 with High-Grade Long Intercept of 330ft with Weighted Average 1169 ppm Li and Li High of 1810 ppm

Noram Receives Results for CVZ-81 with High-Grade Long Intercept of 330ft with Weighted Average 1169 ppm Li and Li High of 1810 ppm

S andy MacDougall, CEO of Noram Lithium Corp. (" Noram " or the " Company ") (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is pleased to announce the successful completion of CVZ-81 (PH-03) and release of the final assay results. The Company completed core hole CVZ-81 at a depth of 451.5 feet (137.6 m). Sampling for assay began at 55 ft (16.8 m) and continued to the bottom of the hole, an interval thickness of 416.5 ft (126.9 m) was intersected. The hole ended in mineralization and the weighted average lithium values present were as follows

Noram Lithium Corp., Thursday, June 30, 2022, Press release picture

CVZ-81 was the last hole drilled in Noram's Phase VI drilling program and had better than expected results, as did most of the holes in this in-fill drilling program. Now that the final assays are in, efforts are being focused on updating the geological/lithium grade models to be used in the upcoming PFS. The grades and thicknesses of mineralization seen in the Phase VI holes are anticipated to substantially improve the outlook for the Zeus deposit and upgrade approximately 175 million tonnes of the deposit from the inferred resource category to indicated resource." comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Jourdan Announces $2,000,000 Private Placement Financing

Jourdan Announces $2,000,000 Private Placement Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Jourdan Resources Inc. (TSX-V: JOR) (" Jourdan " or the " Company ") announces that it intends to complete a best efforts non-brokered private placement financing of (i) up to 12,500,000 units (each, a " Unit ") at a price of $0.08 per Unit for gross proceeds of up to $1,000,000, and (ii) up to 10,000,000 common shares of the Company issued on a flow-through basis (each, a " Flow-Through Share ") at a price of $0.10 per Flow-Through Share for gross proceeds of up to an additional $1,000,000 (collectively, the " Offering "). Each Unit will consist of one common share of the Company and one common share purchase warrant (each, a " Warrant "). Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.10 for a period of 24 months from issuance.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Fortune Minerals Announces Results of Annual General Meeting of Shareholders

Fortune Minerals Announces Results of Annual General Meeting of Shareholders

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) reports that the nominees listed in the management information circular for the 2022 Annual General Meeting of shareholders held on June 28, 2022 (the "Meeting") were elected as directors of Fortune. Detailed results of the vote based on proxies received are set out below:

Nominee

Shareholders also approved the appointment of Fortune's auditors.

About Fortune Minerals:

Fortune is a Canadian mining company focused on developing the NICO cobalt-gold-bismuth-copper Critical Minerals project in the NWT and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.

Follow Fortune Minerals:

Click here to subscribe to Fortune's email list.

Click here to follow Fortune on LinkedIn.

@FortuneMineral on Twitter.

Fortune Minerals Limited
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
TinOne Reports First Results from Drilling its Great Pyramid Project, Tasmania, Australia

TinOne Reports First Results from Drilling its Great Pyramid Project, Tasmania, Australia

TinOne Resources Inc. (TSX-V: TORC) (" TinOne " or the " Company ") is pleased to provide the first drill results from its Great Pyramid Tin (Sn) project located in the tier one mining jurisdiction of Tasmania, Australia .

Highlights:
  • All holes returned Tin-bearing intersections and provide support for historical drill data
  • Mineralised zones shown to extend beneath historical resource
  • Highly encouraging intersections include:
    • 22GPRC003 returned 0.25% Sn over 39 metres
    • 22GPRC005 returned 0.29% Sn over 23 metres
    • 22GPRC006 returned 0.19% Sn over 30 metres
    • 22GPRC007 returned 0.30% Sn over 21 metres

Results have been received for 764 metres of the Company's ongoing 5,500 metre drilling program at its Great Pyramid project in Tasmania, Australia . These results represent complete results for seven Reverse Circulation (RC) drill holes and partial results for one additional RC hole.  Assays are being fast tracked and average laboratory turnaround to-date has been 23 days.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Foremost Lithium Expands Presence in Snow Lake Region with Option Agreement to Acquire the Peg North Claims

Foremost Lithium Expands Presence in Snow Lake Region with Option Agreement to Acquire the Peg North Claims

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE:F0R0) (WKN: A3DCC8) (www.foremostlithium.com) ("Foremost Lithium", "Foremost" or the "Company") is pleased to announce that it has entered in to an agreement (the "Option Agreement") with Strider Resources Ltd. ("Strider") pursuant to which the Company has the right to acquire a 100% interest in the PEG NORTH CLAIMS located in the historic Snow Lake mining district in Manitoba (the "Peg North Claims"). The Peg North Claims consist of 28 claims hosting five known pegmatite dykes, [Cerny, et. al.1981] [1] and captures the northern extension of the Crowduck Bay Fault and surrounding area, known for its lithium-enriched pegmatite dyke clusters. The acquisition pursuant to the Option Agreement will significantly expand the Company's Snow Lake lithium holdings by 16,697 acres (6,757 hectares) to an amalgamated 43,031 acres (17,414 hectares) in the prospective Snow Lake pegmatite fields. The location of the newly acquired Peg North Claims is illustrated in Figure 1 below. In connection with this important acquisition, the Company wishes to take this opportunity to provide a comprehensive update and overview of the status of each of the properties comprising the Company's impressive package of lithium and precious metals assets.

John Gravelle, President & CEO of Foremost Lithium, states: "We now hold and/or have the right to acquire an aggregate of over 43,000 acres, (17,400+ hectares) of what Foremost considers to be tier-one lithium exploration properties in Snow Lake, Manitoba. This substantial increase in hectares will add to Foremost's previously disclosed inventory of 30 high-quality drill targets to explore and develop. The electrification movement is amongst us and the increased demand for lithium will be here for decades to come. This strategic option of the Peg North Claims continues to demonstrate Foremost's commitment to deliver long-term shareholder value."

Under the terms of the Option Agreement, Foremost has the right to acquire a 100% interest in the Peg North Claims, subject only to a 2% net smelter return royalty granted to Strider (the "NSR") (the "First Option") in consideration for making aggregate cash payments of $750,000, issuing Strider common shares having an aggregate value of $750,000, and incurring an aggregate of $3,000,000 in exploration expenditures on the Peg North Claims on or before the fifth anniversary of the effective date of the Option Agreement. The Common shares will be issued at a deemed price equal to the greater of (a) the average closing price of the Company's shares on the CSE for the last 30 trading days prior to the date such shares are issued; and (b) the minimum price permitted under the policies of the stock exchange.

In connection with signing the Option Agreement, the Company will make the initial option payment to Strider of $100,000 in cash and issue Strider an aggregate of 526,316 common shares at a price of $0.19 per share.

Once the First Option has been fully exercised, the Company may, at any time prior to commencement of commercial production on the Peg North Claims, exercise a second option to acquire one half (1/2) of the NSR (1%) for a cash payment of $1,500,000.

[1] P. Cerny, D.L. Trueman, D.V. Ziehlke, B.E. Goad, and B.J. Paul, "THE CAT LAKE-WINNIPEG RIVER AND THE WESKUSKO LAKE PEGMATITE FIELDS, MANITOBA." Manitoba Department of Energy and Mines, Mineral Resources Division Economic Geology Report ER80-1. 1981

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_001.jpg

Figure 1 - Foremost Lithium Snow Lake District Claim Map showing the Jean Lake, Zoro, GRC and Peg North Claims assets. Foremost now controls an amalgamated 17,414 hectares (43,031 acres) in the highly prospective Snow Lake pegmatite fields, including the entire northern extension of the Crowduck Bay Fault

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_001full.jpg

Foremost's initial exploration plans for these claims include a LiDAR survey (to discover never-before-seen outcrops for prospecting), an airborne high-definition magnetic survey, and follow up Mobile Metal Ions soil geochemistry ground proofing of high priority magnetic anomalies. This work will be carried out to define quality drill targets.

John Gravelle, President & CEO of Foremost Lithium, continues: "Foremost's acquisition of the Peg North Claims was a priority due to its excellent exploration potential based on the northeast extension of the Crowduck Bay and related faults that host the Thompson Brothers lithium mineralized pegmatite dykes. The mapped presence of lithium bearing pegmatites east and southeast of the Peg North Claims make this property prospective for lithium bearing pegmatite dykes." Mr. Gravelle further continues: "I'd like to personally express my most sincere gratitude to Dr. Mark Fedikow, Foremost's Vice President of Exploration, and Dan Ziehlke of Strider Resources for their work to complete this transaction."

Technical information contained in this press release, regarding the Peg North Claims, the Zoro Lithium Project, the Jean Lake Lithium and Gold Property, the Grass River Property and the Hidden Lake Lithium Property has been approved by the Company's VP of Exploration, Dr. Mark Fedikow, P.Eng., P. Geo, who is a "Qualified Person" within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Dr. Fedikow holds Honours B.Sc. and M.Sc. degrees in geology, geophysics and geochemistry from the University of Windsor, Canada, and a Ph.D. in exploration geochemistry from the School of Applied Geology, University of New South Wales in Sydney, Australia.

The technical content of this news release regarding The Winston Project has been approved by Dr. Michael Feinstein, CPG, who is a Qualified Person as defined by NI 43-101.

DESCRIPTION AND STATUS OF FOREMOST'S PROPERTIES

Zoro Lithium Project, Manitoba Canada

The Zoro Lithium Project is located at the east end of the 200 km long and 70 km wide Paleoproterozoic Flin Flon-Snow Lake Greenstone Belt approximately 20 km east of the historic mining town of Snow Lake (Figures 1 and 2). The project consists of 16 claims with a total of 3,603 hectares including the 100%-owned Zoro1 claim, that hosts the primary source of lithium on the property in Dyke 1, and the Green Bay and Manitoba option properties. Foremost holds the rights to 100% of the lithium resources on these properties. Nearby infrastructure includes a power line servicing the town of Snow Lake approximately 5 km south of the property, the Snow Lake airport, and an all-weather gravel road 11 km west of the property, as well as a rail link located at Wekusko Siding, 20 km to the south of Herb Lake Landing which is 30 km south of the property.

Geological Setting1

The Zoro Lithium Project is underlain by ocean floor volcanic rocks of the Roberts Lake allochthon and lesser amounts of Missi Group sedimentary rocks. The Ocean Floor rocks comprise mafic volcanic and related intrusions and the Missi Group consists of sandstone, siltstone, mudstone, and quartzo-feldspathic gneiss and migmatite. The Ocean Floor mafic volcanic rocks adjacent to the pegmatite dykes consist of a fine to medium-grained strongly foliated dark green lithology. These andesitic to basaltic lithologies are locally interbedded with volcaniclastic sedimentary rocks and all are intruded by a quartz-phyric granite intrusion (Figure 3).

Pegmatite dykes generally strike northwest to north-northwest with steep dips and crosscut the regional foliation at a low angle. The dykes tend to be concentric in internal structure and the grain size of the constituent minerals (potassium feldspar, quartz, spodumene and black tourmaline) coarsens towards the center of the dykes. This pattern may be locally interrupted by patches of saccharoidal albite, large muscovite aggregates and coarse albite stringers with garnet and beryl. Spodumene is concentrated in the cores of the dykes. Some of the dykes have been split into sub-parallel veins by post-emplacement tectonic activity.

Approach to Exploration

Integrated exploration on the project consists of soil and rock geochemical surveys, a drone magnetic survey, prospecting, and mapping all followed-up with diamond drilling. This has led to the discovery of 16 previously unknown spodumene-bearing pegmatite dykes and the delineation of multiple lithium targets. To date, 70 drill holes for 9,915 m have been completed on the property.

Source of Lithium

The principal source of lithium on the property is spodumene-bearing Dyke 1 with an inferred resource of 1,074,567 tonnes at 0.91% Li2O, 182 ppm Be, 198 ppm Cs, 51 ppm Ga, 1212 Rb, and 43 ppm Ta at a 0.3 percent Li2O cut-off .1 Please refer to the Company's NI 43-101 Technical Report titled "NI 43-101 Technical Report on the Zoro Lithium Project, Snow Lake, Manitoba" dated effective July 6, 2018, prepared by Dr. Mark Fedikow, P. Geo, and Scott Zelligan P. Geo. Tantalum mineralization has also been intersected in Dyke 1 with an assay of 0.113% Ta2O5 (cf. November 1, 2017 news release). Elsewhere on the property assays of 2.42% to 7.28% Li2O have been documented from spodumene-bearing pegmatite Dyke 5 on the property3 (cf. Green Bay Mining and Exploration Ltd. Corporation File).

Metallurgy

Preliminary metallurgical testing by SGS Canada Inc. of a spodumene concentrate from Dyke 1 indicates that a high-grade (6% Li2O) lithium concentrate can be produced from Dyke 1 mineralization using industry standard methods.2

Recent Exploration

Lithium

In 2022, a ten-hole 1,509-meter drill program was undertaken to test Mobile Metal Ion ("MMI") soil geochemical anomalies and assess the deeper levels of high-grade spodumene pegmatite Dyke 8 discovered in 2018.

The sixteenth spodumene-bearing pegmatite dyke on the Zoro property was discovered during this program. It was intersected by two drill holes (c.f. April 26, 2022, news release). DDH FM22-70 drilled at -50 degrees inclination intersected two pegmatite intercepts totaling 4.9 meters with up to 15% light green spodumene crystal aggregates. A second hole, DDHFM22-70B was drilled at a steeper inclination of -65 degrees to undercut the first pegmatite intersection. This hole intersected a five-meter intercept of the same spodumene mineralized pegmatite as hole FM22-70. The host rock to these pegmatites is a fine-grained foliated basalt. The location of Dyke 16 in relation to all other pegmatite dykes intersected on the Zoro property is illustrated in Figure 4.

Dyke 8

High-grade spodumene pegmatite Dyke 8 was discovered on the Zoro property in 2018 by the drill testing of a Mobile Metal Ions soil geochemical anomaly. Drill hole Far18-35 testing the MMI anomaly intersected 36.5 m of spodumene-bearing pegmatite. Assay results from hole FAR18-35 included three separate intercepts of high-grade lithium including 12.3 m of 1.1% Li2O, 4.4 m of 1.2% Li2O, and 2.2 m of 1.5% Li2O (cf. April 26, 2022, news release).

In 2022, DDHFM22-71 was drilled at -65 degrees to undercut the 2018 pegmatite intersections. A 4.5-meter spodumene-bearing pegmatite was intersected between 70.45 and 75.89 meters before being truncated by a fault. This intercept is 37 meters below the previous 2018 drill intercepted Dyke 8 spodumene mineralization. A further pegmatite was intersected below the fault between 84.4 and 86.65 meters.

To date, Dyke 8 has drill indicated dimensions of 120 m in length, 5-15 m in width and has been drilled to a depth of 157 m (cf. April 26, 2022, news release).

Gold

Numerous intersections of core intersected mineralized zones characterized by disseminated and veinlet arsenopyrite with lesser chalcopyrite, sphalerite, and pyrite. Mineralized sections were intersected in silicified and variably altered dacite and basalt volcanic rocks with or without quartz veins.

Assay Samples

A total of 19 core samples of pegmatite have been collected from drill core. Fourteen samples were collected from pegmatite with visible spodumene, and five samples were collected from pegmatite without visible spodumene. Nine samples were collected from lithologies other than pegmatite. Fifty-seven samples were collected from core mineralized with disseminated and stringer arsenopyrite and lesser pyrite, chalcopyrite, and sphalerite for gold assay.

After logging and photographic recording, all core samples were sawn in half and one half of the core has been shipped to Activation Laboratories (Ancaster, Ontario). Remaining drill core is stored in a secure facility in Snow Lake.

Pegmatite samples will be analysed using UT-7 lithium and related element analysis after total dissolution by sodium pyrophosphate with finish by ICP-MS. Samples for gold assay were undertaken on 30-gram samples with fire assay and finish by Instrumental Neutron Activation.

Results for all samples are pending but will be reported in a news release and on the website once available.

Future Exploration

Exploration on the property is ongoing with prospecting, mapping and geochemical surveys following up on a recently completed (June 2022) drone magnetic survey. The drone survey was completed by EarthEx Geophysical Solutions Inc. Interpreted results from the drone magnetic survey will provide the focus for ongoing exploration. A drone-assisted LiDAR survey is planned for the summer of 2022.

1: Fedikow, M.A.F. and Zelligan, S. 2018. NI 43-101 Technical report on the Zoro Lithium Project, Snow Lake, Manitoba; 188p.

2: Grammatikopoulos, T., Aghamirian, M., Fedikow, M.A.F. and Mayo, T. 2020 : Mineralogical characterization and preliminary beneficiation of the Zoro Lithium Project, Manitoba, Canada: HTTPS://DOI.ORG/10.1007/S42461-020-00299-2.

3: Green Bay Mining and Exploration Ltd. Corporation File: 1956: Manitoba Mining Recorder, Corporate and Assessment Files.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_002.jpg

Figure 1. Location map for the Zoro Lithium Project.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_002full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_003.jpg

Figure 2: Regional geology map of the Flin Flon-Snow Lake Greenstone Belt and the location of the Zoro Lithium Project.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_003full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_004.jpg

Figure 3. Geological setting of the Zoro Lithium Project with claim boundaries.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_004full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_005full.jpg

Figure 4. Location of Dyke 16 in relation to previously discovered pegmatite dykes on the Zoro Lithium Project.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_005full.jpg

Jean Lake Lithium and Gold Property, Manitoba Canada

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.

The location of the Beryl Pegmatites ("B1" and "B2") is illustrated on a Jean Lake claim map in Figure 1. B3 is a pegmatite without visible spodumene.

Recent Exploration

Lithium

Five representative rock chip samples of spodumene-bearing mineralization were collected in August, 2021 from blast material in two trenched locations of the Beryl Pegmatites. Two of the samples were apple green, coarse grained spodumene (Far21-1 and -2)) and three samples were from straw-coloured, finer grained spodumene (Far21-3,4 and 5)).

Samples were shipped to Activation Laboratories in Ancaster (Ontario) for analysis, applying the UT-7 method which uses a total dissolution of the sample by sodium peroxide fusion and ICP-MS finish. This analytical approach is the standard analytical technique employed by the Company on its Zoro and Jean Lake lithium projects for the analysis of pegmatite.

Results indicate all samples returned high-grade lithium contents regardless of the textural characteristics of the spodumene (Table 1).

Table 1. Lithium analyses for two styles of spodumene mineralization at the Beryl Pegmatite,
Jean Lake Property, Snow Lake area, Manitoba.

ElementLi20%Li2C03%



Beryl Pegmatite B1:

FAR 21L-13.899.63
FAR 21L-25.1712.78



Beryl Pegmatite B2:

FAR 21L-34.7411.71
FAR 21L-44.0910.11
FAR 21L-53.819.42

Gold

Fifteen representative rock chip samples from the Sparky Occurrence returned assay results with maximum contents of 20.9 g/t gold (Table 2). All but one sample exceeded 1 g/t gold. Grab samples representative of mineralization exposed in outcrop and in pits were collected from pervasively silicified wall rock containing brecciated and mineralized quartz veins. The deformation observed in the rocks sampled is attributed to faults cutting the eastern portion of the Rex Lake Pluton which is bounded on the east by the crustal scale Crowduck Bay Fault.

Gold assays are determined by fire assay using a 30-gram sample followed by an instrumental neutron activation finish.

Table 2. Summary of gold assay results, Jean Lake Property.

SampleUTM EastUTM NorthGrams Per Ton/ GoldG/T Gold

Datum: NAD83 Zone 14


FAR21G-145164760762011.61.66
FAR21G-24516476076201138 ppb0.138
FAR 21G-3452451607640620.920.9
FAR 21G-445245160764068.68.66
FAR 21G-5a45240960763511.91.93
FAR 21G-5b45240960763511.81.84
FAR 21G-6a452377607624611.211.2
FAR 21G-6b45237760762466.46.42
FAR 21G-745235660761712.02
FAR 21G-8a45241760763777.67.63
FAR 21G-8b45241760763778.68.66
FAR 21G-945236660761054.04.05
FAR 21G-1045239560764071.31.38
FAR 21G-1145235660761711.01
FAR 21G-1245244160763961.21.29

Laboratory contamination was not detected in the analysis of the samples based on the replicate analyses of the method blank. The analysis of both internal standards and International Reference Materials indicates the analyses are accurate and reproducible.

Ongoing exploration consisting of prospecting and geochemical surveys is planned to commence in June, 2022 utilizing the results from recently completed (April, 2022) drone-assisted magnetic surveys. The drone surveys were completed by EarthEx Geophysical Solutions Inc. Drone-assisted LiDAR surveys are planned for the summer of 2022.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_006.jpg

Figure 1. Location of the Beryl Pegmatites (B1 and B2). B3 is a barren, non-spodumene-bearing pegmatite that is on trend (270o) with B1 and B2.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_006full.jpg

Grass River Claims Property (GRC) Manitoba, Canada

The recently acquired Grass River Claims Property consists of 27 claims totaling 14,873 acres located 30 km east of the historic town of Snow Lake and 6.5 kilometers east of the Company's Zoro Lithium Project. The GRC hosts multiple pegmatites exposed in outcrop and 7 drill-indicated spodumene-bearing pegmatite dykes.

The bulk of mineral exploration in the Snow Lake area was undertaken in the late 1950's and was primarily designed to assess the general area for base metal massive sulphide mineralization. Ground geophysical surveys (electromagnetics and magnetics) were the primary tool coupled with boots on the ground prospecting. Many holes were drilled to assess base metal environments. During the drilling of geophysical targets, several spodumene pegmatites were intersected1.

A total of 10 pegmatites are exposed in surface outcrop on the property and together with the 7 drill-indicated spodumene-bearing dykes (Figure 1) will be part of the exploration focus in 2022. Ongoing data interpretation of results from a drone-assisted magnetic survey completed by EarthEx Geophysical Solutions Inc. in June of 2022 will guide follow-up prospecting and geochemical surveys expected to commence in July of 2022. These surveys will be supplemented with a drone-assisted LiDAR survey planned for July 2022. A drill program is planned for later in the year

Results of the magnetic and LIDAR surveys will be released in a news release and on the Company's website when complete.

1: Cancelled Assessment File 90611, Manitoba Mining Recorder, Manitoba Natural Resources and Northern Development.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_007.jpg

Figure 1. Compilation of pegmatites exposed in surface outcrop1 and drill intersected spodumene-bearing pegmatite2 on the Grass River Lithium Property, Snow Lake area, Manitoba.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_007full.jpg

Data Sources

1: Bailes, A.H. 1985: Geology of the Saw Lake area, Geological Report GR83-2, 47 pages and Map GR83-2-1.

2: Cancelled Assessment File 90611, Manitoba Mining Recorder, Manitoba Natural Resources and Northern Development.

The Hidden Lake Lithium Property Northwest Territories, Canada

The Hidden Lake Lithium Property is located 45 km east of Yellowknife, NWT (Figure 1) and consists of 5 contiguous claims, totaling 1,659.29 hectares (Figure 2). The property is just north of Highway 4 (Ingraham Trail) providing excellent access. The exploration target on the property is lithium-bearing spodumene pegmatite dykes which are visible from aerial imagery as elongated white linear features visible through vegetation and soil due to their high reflectance.

Geological Setting

The Hidden Lake Property lies within the southern Archean Slave Craton of the Canadian Shield which is comprised of Mesoarchean gneissic basement covered by the Neoarchean Yellowknife Supergroup supracrustal assemblage. The Yellowknife Supergroup consists of a thick sequence of metavolcanic rock and metasedimentary rock which is dominated by a regionally homogenous sequence of interbedded greywacke-mudstone turbidites of the multiply deformed Burwash Formation east of Yellowknife (Figure 3). This region was subsequently intruded by the Prosperous suite of S-type biotite muscovite leucogranite plutons which are spatially associated with granitic pegmatites.

Granitic Pegmatites

These pegmatites intrude both the surrounding Burwash Formation and the granitic plutons and form the Yellowknife Pegmatite Field. Depending on their proximity to the granite intrusion, the pegmatite complexes commonly show regional zoning in their mineralization and can be rare element bearing. Lithium enrichment occurs in an outer zone typically 2 to 3 kms from the intrusion accompanied by Be, Ta, Nb and Ca enrichment (Sinclair, 1996).

The lithium bearing pegmatites that are targeted for exploration are white to light grey, coarse to very coarse-grained, and comprised of K-feldspar (microcline), plagioclase (albite), quartz, muscovite and spodumene with trace amounts of apatite, biotite, tourmaline, columbite and montebrasite. The dykes consist of long, discontinuous bodies oriented in an NNE-SSW direction (between 010° and 020°) and range from 3 to 11 m wide and 300 to 800 m long. The bodies are zoned and spodumene content typically ranges from 10% to 20% by volume, with up to 35% locally within the center of the bodies. Spodumene crystals were green to light greenish grey, up to 60 cm long and were typically oriented parallel to the dyke boundaries along the edges and perpendicular to the boundaries in the center of the dykes (Sinclair, 1996).

Historic Work

Initial prospecting of the Yellowknife district originated when rare-element pegmatites were first discovered in the 1930's, followed by the discovery of lithium-bearing pegmatites in the 1950's. The most significant historic exploration carried out on the property has been undertaken on the D12 pegmatite that was first discovered by the Geological Survey of Canada in1947. It is described as a 1,000 ft. long and 30 ft. wide, spodumene-bearing pegmatite dyke. It has since been subjected to trenching and detailed mapping1. In 1978, Canadian Superior Exploration Ltd. mapped and sampled several spodumene-bearing dykes on and surrounding the current Property, the largest of which was D122. Chip samples collected from the historic trenches at D12 yielded 1.37% to 3.01% Li2O (NWT Geoscience Detailed Showing Report ID 085INW0042).

2016 Exploration

Dahrouge Geological Consulting Ltd. (Dahrouge) undertook exploration work in 2016 and 2017 on behalf of 92 Resources Corporation3. This work consisted of prospecting, grab sampling, detailed mapping, and channel sampling. Only the results of the 2016 program are relevant to the Hidden Lake Property.

Prospecting in May of 2016 included outcrop examination and the collection of 5 grab samples from the D12 dyke. The samples were sealed in labelled bags and shipped to Activation Labs Ltd. (ActLabs), in Kamloops, B.C., where they were analyzed using the sodium peroxide fusion ICP-OES + ICP-MS Ultratrace 7 package (UT-7). Those samples with a Li value above the detection limit of 10,000 ppm underwent the sodium peroxide fusion ICP-OES lithium ore analysis package (Code 8 Li Ore).

Subsequently a channel sampling program was completed between August 16th and September 7th, 2016. A total of 308 channel samples were collected from 61 channels cut across dykes D12, HL1, HL3 and HL4 Table 1.

Table 1: 2016 channel sampling details.

Pegmatite Length (m)NumberNumber


of Channelsof Samples
D123501585
HL16901665
HL38001589
HL44001569

Results

In 2016 a total of 5 grab samples and 308 channel samples were collected during the two Hidden Lake field programs carried out in 2016. Five grab samples from dyke D12 assayed 1.63 - 3.06% Li2O. Channel sample results were presented as weighted averages for individual channels for each dyke. The thickest section of D12 was 11.58 m wide and returned a weighted average of 1.53% Li2O and included a 9.02 m section of 1.90% Li2O. A channel from the HL1 dyke assayed 1.26% Li2O over 8.72 m and an 8.78 m channel from the HL3 dyke assayed 1.58% Li2O. A 5.78 m channel from HL4 assayed the highest Li2O of 1.71% over 5.78 m. Significant grades of tantalum were recorded with an average of 54 pm Ta2O5 for the four dykes. The maximum value was 402 ppm.

2018 Exploration

Dahrouge also undertook an exploration program in 2018 on behalf of Foremost Resources4. The purpose of the drilling was to test the vertical continuity of spodumene mineralization in the subsurface. This work took place between May 22nd and June 10th, 2018 and consisted of 1079.37 m of core drilled in ten drill holes on pegmatite dykes HL-001 through HL-003 and D-12 (Figure 4). A total of 197 core samples were collected and submitted for assay at SGS Mineral Services Lakefield facility. Intersected pegmatites were typically composed of quartz, plagioclase, feldspar, muscovite, spodumene and accessory minerals consisting of tourmaline and epidote.

Drill hole specific information including core samples collected for assay is provided in Table 2.

Table 2: Pegmatite intersection and sample collection summary.

Hole IDTargetEastingNorthingOverburden Depth (m)EOH Depth (m)Pegmatite Intersection Sum (m)Number of Samples
HL18-001D-1237493569369710.00109.0015.1034
HL18-002D-1237502369370904.23101.3410.9826
HL18-003D-1237489369368995.16108.9411.1219
HL18-004HL-137374869369785.25106.197.9519
HL18-005HL-137336169373896.45108.823.7916
HL18-006HL-437344069375240.30108.947.7216
HL18-007HL-437340769374650.10109.005.9813
HL18-008HL-437336169373890.00108.945.6212
HL18-009HL-337336469370970.70109.208.6820
HL18-010HL-337330669370111.05109.008.9722




Total:10793.37 m171.82 m197

Results

Pegmatites intersected in this drill program were marked by fine to very coarse grained spodumene crystals varying from 7-10 modal percent in dyke HL3 to 15-25% modal percent spodumene crystals in dyke D12.

All spodumene-bearing dykes tested during the 2018 drill program intersected high-grade 1.0-2.0% Li2O over individual widths that varied from 2.0 to 9.2 m or total widths of between 3.79 m and 15.10 m (Table 3; cf. September 10, 2018, news release). The assay results for 2018 drill core confirm the presence of high grade spodumene-bearing pegmatite dykes on the property and reflect the historic assay results from 2016 surface channel samples.

Table 3. Summary of assay results, 2018 Hidden Lake drill program.

BHIDLi2O (%) Ta (ppm)Cs (ppm)Nb (ppm)Length (m)
Dyke D-12: HL18-0011.533.440.648.79.0
Dyke D-12: HL18-0021.734.033.245.35.0
Dyke D-12: HL18-0031.632.447.244.49.2
Dyke HL-1: HL18-0041.624.429.029.07.0
Dyke HL-1: HL18-0051.241.833.145.82.0
Dyke HL-3: HL18-0061.421.546.225.67.0
Dyke HL-3: HL18-0072.043.632.952.85.2
Dyke HL-3: HL18-0081.342.540.954.63.8
Dyke HL-2: HL18-0091.57.828.612.02.0
Dyke HL-2: HL18-0101.015.131.417.27.0

Assay

Pegmatite intersections in the drill core were sawn in half with one half of the sample collected for assay. The samples were shipped to Activation Laboratories (Ancaster, Ontario) digested with a sodium peroxide fusion followed by ICP-OES/MS analysis. Assay results are summarized in Table 3.

Future Exploration

Future exploration is planned to expand the lithium resource at Hidden Lake with additional diamond drilling based on an integrated exploration plan using state-of-the-art drone assisted geophysical surveys and rock and soil geochemical techniques.

1: Mulligan, R. 1975. Geology of Canadian Lithium Deposits. Geological Survey of Canada, Economic Geology Report No. 21

2: Morrison, M. 1978. Report on a trenching programme and geological survey of the LU3, 5, 8, 9 and 10 mineral claims, Yellowknife area. NWT assessment report 080847.

3: Goreham, J. 2018: 2016 and 2017 geological and geochemical exploration on the Hidden Lake property, Yellowknife, N.W.T. report for property owner 92 Resources Corp., 29p.

4: Wood, A. 2018: Summary memo for the 2018 Hidden Lake P1 drill program, Yellowknife area, N.W.T., 12p.

Sinclair, W.D., 1996. Granitic Pegmatites; in Geology of Canadian Mineral Deposit Types, (ed.) O.R. Eckstrand, W.D. Sinclair and R.I Thorpe. Geological Survey of Canada, Geology of Canada. No. 8 p. 503-512.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_008.jpg

Figure 1. Location of the Hidden Lake Lithium Property, Yellowknife area, N.W.T.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_008full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_009.jpg

Figure 2. Current claim map, Hidden Lake Property, N.W.T.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_009full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_011.jpg

Figure 3. Geological setting of the Hidden Lake Lithium Property.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_011full.jpg


Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_012.jpg

Figure 4. Summary of drill hole locations and targets, Hidden Lake Lithium Property, N.W.T.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4689/129383_a5af844a94b7f9f3_012full.jpg

WINSTON PROPERTY NEW MEXICO, UNITED STATES

Dr. Michael Feinstein, CPG, QP, has visited the Winston Project area on ten separate occasions since October 2020. He conducted confirmatory sampling of the known historic mines, as well sampling the prominent structural trends along strike.

All samples were collected under the direct supervision of Dr. Michael Feinstein, and securely transported to the Tucson facility of ALS Laboratories for analysis. Ore characterization samples from these three mines returned peak values of: 66.5 g/t gold with 2,940 g/t silver from Little Granite, 26.8 g/t gold and 940 g/t silver from Ivanhoe, and 44.9 g/t gold and 517 g/t silver from Emporia.

This sampling confirmed the occurrence of high-grade material at all three of the historic mines, but also in several locations away from these areas. Foremost expanded its footprint, increasing the property from 415 acres to 2,980 acres, and increased its mineral rights from 14 to 150 BLM Lode Mining Claims. Previously, no modern exploration efforts have systemically assessed the northern portion of the Chloride District.

Winston Project

*Highest Grade Sample From Each Mine

MineAu_ppmAg_ppm
Little Granite66.52,940
Ivanhoe26.8940
Emporio44.9517
Prospecting Best41.54,610

Project Highlights

The project has contiguous landholdings totaling approximately 150 claims covering almost 3,000 acres. Claims are targeted along footprint of mineralization extending for more than 8 km of strike.

Historic drilling in early 1980s suggests potential for high-grade ore shoots within larger mineralized envelopes. The Chloride District saw a rush of miners and prospectors in the 1860s-1890s, a period of renewed mining activity in the 1980s, and has been largely unexplored by modern methods.

Potential for District-Scale discovery in a Precious Metal Endowed Low-Sulphidation Epithermal Vein System.

Ground geological mapping and surveying has utilized high resolution satellite imagery and LiDAR (laser-generated infrared light beams) to construct a detailed digital model of the area. This 3D GIS will be used for all drill targeting and project planning. Special attention will be given to maintaining a high level of vertical accuracy due to the local topography.

Exceptional results from property-wide confirmatory sampling completed in 2021 include:
-Measured width Highlights:
3.35 g/t Au with 245 g/t Ag from a 0.3m channel sample inside the Little Granite Decline.
1.97 g/t Au with 232 g/t Ag from a 0.3m channel sample across JAP vein at LG mine.
29.2 g/t Au with 462 g/t Ag from a 0.6m continuous chip sample in north zone.
3.2 g/t Au with 34 g/t Ag from a 1.0m continuous chip sample in north zone.
0.75 g/t Au with 489 g/t Ag from a 0.3m continuous chip sample in north zone.

-Prospecting Highlights:
Sample 1671079 collected at a prospect pit in recently staked ground returned 41.5 g/t Au with 4,610.0 g/t Ag.
Samples 1671021, 1671024, 1671027 were collected from the same vein trend over 300m of strike
#1671021 returned 20.6 g/t Au with 21.0 g/t Ag.
#1671024 returned 12.3 g/t Au with 381.0 g/t Ag.
#1671027 returned 5.7 g/t Au with 254.0 g/t Ag.

For the 155 samples across the project, gold values range from Below Detection (BD;

Geological Setting of the Winston Project

The Winston Project, situated in the historic Black Range Mining District of southwestern New Mexico, covers 36 square kilometers of the northern portion of the Chloride District. High-grade deposits of silver and gold were discovered in 1880 and the area was a major producer until the 1893 silver price crash. Little production or modern exploration has occurred since.

The mineralization is of the well-documented Low-Sulphidation Epithermal type. Deposits of this style are emplaced throughout the Cordillera of North and South America and elsewhere in similar tectonic settings. This style of mineralization is known world-wide and hosts some of the highest-grade gold/silver mines, such as: Hishikari in Japan, Fruta del Norte in Ecuador and Round Mountain in Nevada.

On the Winston Property, the primary structure is the Paymaster Fault which is readily traced both on the ground and by satellite imagery. Locally, the mineralized veins are generally associated with north-south trending structures. The overall controlling geological feature is known as the Rio Grande Rift, which extends into northern Mexico hosting several past and present silver mines.

Foremost's Winston Project enjoys a close association with volcanic host rocks which formed at a similar time as the mineralization. Individual mines and prospects generally show strong controlling geological structures, typically north-south high angle faulting associated with the Rio Grande Rift (RGR). The RGR is a crustal-scale feature which extends over 1,200 kilometers, from northern Mexico to central Colorado.

Precious metal deposits of note along the RGR include the historic Creede Mining District in southwestern Colorado. The timing of mineralization is within several million years of that on the Winston Project, where alteration minerals have been dated at approximately 26.5 Ma. The Creede District has recorded production of over 84 million ounces of silver. Hecla Mining Corp., a premier US silver producer, is undertaking a major effort in the Creede District to bring a new mining complex online.

Located 100km to the east, The Mogollon District in western New Mexico has produced more than 13 million ounces silver and 270k ounces old. Mineralization is of the same Low-Sulphidation Epithermal Vein Type. Summa Silver is currently exploring the Mogollon Camp.

Little Granite Mine

The Little Granite Mine is a past-producing high-grade silver-gold mine hosted in Tertiary volcanics. The main vein has been traced for over 200 meters by past drilling and underground workings and remains open along strike to both the north and south, and at depth. Historically reported high-grade values were confirmed in limited re-sampling by Foremost in late 2020. Historic drill reports suggest the primary vein widens to more than 4m (12ft) true width, at depth.

Ivanhoe - Emporia Mines

The Ivanhoe - Emporia is a past producing gold-silver mine. Its main shaft was sunk to 384 feet depth with a 370 ft. decline and multiple working levels. There is potential for large tonnage of lower grade, stockwork veins surrounding high grade veins mined in the past. The strike continuation needs to be explored as favorable structural conditions persist along the bends and jobs of the Paymaster Fault.

Conclusion

Foremost is committed to commence a drill program in 2022 on multiple targets on the property. Past preparatory work for drilling has included data compilation both of historic and recent work, along with acquisition of high-resolution LiDAR data to allow construction of an accurate terrane model. This property had little to no modern exploration since the early 1980s and with such high-grade samples returned, the Company is keen to see the full potential from the Winston Gold/Silver Project.

There has been insufficient exploration to define a mineral resource. The potential quantities and associated grades have not been defined by drilling, but historic production in the district reflects the potential scope of orebodies which may be encountered. It is uncertain if further exploration will result in the delineation of a mineral resource.

QA/QC Statement-

166 samples have been processed by ALS Laboratories' ("ALS") for Precious Metals and Multi-Elements. All Foremost's (previously FAR Resources) rock sample assay results have been independently monitored through a quality assurance/quality control ("QA/QC") protocol which includes the insertion of blind standard reference materials at regular intervals. Samples were maintained by Dr. Feinstein and securely transported to ALS sample preparation facilities in Tucson, Arizona and Reno, Nevada. Sample pulps were sent to ALS's labs in Vancouver, Canada, for analysis.

All samples were of hard rock and prepared by fine crushing to 70% passing

ALS Laboratories is independent of Foremost and its Vancouver facility is ISO-17025 accredited. ALS also performed its own internal QA/QC procedures to assure the accuracy and integrity of results. Parameters for ALS' internal and Foremost's external blind quality control samples were acceptable for the samples analyzed. Foremost is not aware of any sampling, or other factors that could materially affect the accuracy or reliability of the data referred to herein.

QP Statement-

Michael Feinstein, PhD, CPG, is the Qualified Person (Q.P.) responsible for the technical material contained in this document. All samples are collected and maintained in accordance with established QA/QC protocols. Samples were analyzed by Fire Assay and ICP-MS. Internal laboratory QA/QC protocols were followed and 5% external standards are submitted with all sample batches. The technical content of this news release has been reviewed by Dr. Michael Feinstein, CPG, who is a Qualified Person as defined by NI 43-101.

About Foremost Lithium

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 energy decarbonization, especially when it comes to vehicles, the Company is hyper-focused in continued exploration and growth on its five lithium projects in Manitoba being Jean Lake, Grass River, Zoro, Jol and the Peg North Claims, and its Hidden Lake lithium project in the Northwest Territories. Foremost Lithium also has an interest in the Winston Gold/Silver Project in New Mexico, USA.

For Further Information Please Contact:
John Gravelle, President and CEO
info@foremostlithium.com
Foremost Lithium Resource &Technology
1 604 330-8067

Follow us and contact us on social media:

Twitter: @foremostlithium
Linkedin: https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany
Facebook: https://www.facebook.com/ForemostLithium

Forward-Looking Statements

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 changes to management of the Company, for closing of the proposed acquisition, future acquisition and dispositions of mining and exploration interests, furure financing needs and activities, the plans for future exploration and development of the Company's properties 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 receipt of all necessary approvals for the proposed acquisition, completion of the Company's recently announced financing, risks related to the Company's exploration properties; risks related to international operations; 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 commodities including lithium and gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in reserves; 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, and political and economic developments in jurisdictions 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 of the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129383

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Alpha Lithium Completes Drilling in Tolillar and Initiates Exploration at Hombre Muerto

Alpha Lithium Completes Drilling in Tolillar and Initiates Exploration at Hombre Muerto

Alpha Lithium Corporation (TSX.V: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1) (" Alpha " or the " Company ") is very pleased to provide an operational update on its Salar del Hombre Muerto and Tolillar Salar projects in Argentina's Lithium Triangle. Alpha is commencing a Vertical Electrical Sounding ("VES") survey on its 100% owned, 5,000-hectare property in Hombre Muerto with the intention to complement and direct the Company's upcoming drilling program. At Tolillar, the Company is pleased to provide an update on VES, drilling and the scheduled completion of an inaugural NI 43-101 Resource Report.

The Company currently has $44 million in cash; and accordingly, is extremely well-funded to continue its drilling and exploration activities.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×