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Vancouver, British Columbia TheNewswire – February 26, 2025 VanadiumCorp Resource Inc. (TSX-V: VRB) (FSE: NWNA) (OTC: VRBFF) ("VanadiumCorp" or the "Company"). The Company is pleased to announce a non-brokered private placement financing (the "Financing") of up to $800,000.
The Financing will consist of:
7,272,727 units ("Units") priced at $.11 per unit for gross proceeds of up to $800,000. Each Unit will consist of one non-flow-through common share of the Company and one purchase warrant to acquire an additional common share at $0.15 for a period of three years.
The Company may pay finders' fees in cash and warrants bearing the same terms as the Unit warrants. All shares issued pursuant to the Financing and any shares issued through the exercise of warrants will be subject to a four-month hold from the closing date. The Financing is subject to TSXV Exchange approval.
The financing proceeds will be used for working capital, the production and sale of vanadium electrolyte, the engineering of a second plant, and the company's general corporate purposes.
VanadiumCorp's President Kristien Davenport stated, "This small financing will bring our initial pilot plant back into production. Further, we can continue the engineering work for our second plant, which we estimate will produce up to 4,000,000 litres of electrolyte annually once it is commissioned. This will enable VanadiumCorp to provide Canadian electrolyte to the global Vanadium Flow Battery industry."
About VanadiumCorp Resource Inc.
VanadiumCorp Resource Inc. is engaged in the production of high-quality vanadium electrolytes for the expanding international market for long-duration Vanadium Flow Batteries (VFB). The Company's pilot plant facility is based in Val-des-Sources, Québec. The Company is also advancing technologies for the production of the strategic V-Ti and potentially high-grade Fe located at its vanadiferous titanomagnetite projects, including at its flagship Lac Doré deposit near Chibougamau, Québec. The successful deployment of these technologies would enable stable, long-term access to the Company's deposits of critical metals, including vanadium feedstock for the production of electrolyte by the Company.
On behalf of the Board of VanadiumCorp Resource Inc.
"Kristien Davenport" President and Director
VANADIUMCORP RESOURCES INC.
About VanadiumCorp Resource Inc.
VanadiumCorp Resource Inc. produces a high-quality stream of vanadium electrolyte catering to the expanding international market for long-duration Vanadium Redox Flow Batteries (VRFB). The Company's initial manufacturing facility is located in Val-des-Sources, Québec. The procurement of stable, long-term access to vanadium feedstock for electrolyte production is assured, contingent upon the successful development of the Company's wholly-owned vanadium-titanium-iron mineral deposits, particularly the flagship Lac Doré deposit situated near Chibougamau, Québec. Moreover, the electrolyte plant will serve the dual purpose of evaluating the quality of the outputs from the Lac Doré pilot plant as well as facilitating the reprocessing of electrolytes.
Company contact information: 3 rue de Boisé,
Marieville, Québec J3M 1S7 Canada
Email: info@vanadiumcorp.com
Website: www.vanadiumcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This document may contain forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) regarding, among other things, VanadiumCorp's business. and the environment in which it operates. In general, forward-looking statements can be identified by the use of words such as "anticipates", "expects" or "does not expect", "is expected", "budget", "forecast", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "could" or "will be taken", "occur" or "will be achieved". VanadiumCorp relies on a number of assumptions and estimates to make these forward-looking statements, including, without limitation, the ability to acquire the necessary permits and authorizations to advance the Lac Doré property to the production stage, the ability to add to existing resources at Lac Doré through drilling, the costs associated with the development and operation of its properties. These assumptions and estimates are made in light of forecasts and conditions that are considered relevant and reasonable based on available information and current circumstances. A number of risk factors may cause actual results, level of activity, performance or results of such exploration and/or mine development to differ materially from those expressed or implied by such forward-looking statements, including, without limitation, whether such discoveries will result in commercially viable quantities of such mineralized materials, the ability to modify project parameters as plans continue to be refined, the ability to execute planned future exploration and drilling programs, the need for additional financing to continue exploration and development efforts, changes in general economic, market and business conditions, and other risks outlined in VanadiumCorp's latest Annual Information Form under the heading "Risk Factors" and in its other public documents. Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and that may be beyond VanadiumCorp's control. Although VanadiumCorp has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, undue reliance should not be placed on these forward-looking statements. In addition, all forward-looking statements in this press release are made as of the date of this press release. VanadiumCorp disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The forward-looking statements contained herein are expressly qualified by this disclaimer.
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VANCOUVER, BC TheNewswire - FEBRUARY 26 th 2025 American Salars Lithium INC. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY ) announces it has signed a Mineral Claims Purchase Agreement (the "Agreement") with an arm's length vendor to acquire 100% of the Leduc East Lithium Project (the "Project") consisting of 101 mineral claims spanning approximately 6,100 hectares or 61 square kilometers.
The Project is located approximately 35km north of Gatineau, with surrounding infrastructure and accessibility for exploration. The Project is located approximately 275km southwest of Bécancour's Battery Metal Park and Lithium downstream concentrator and foundry, as well as 300km southeast of Sayona 's NAL Lithium mine, spodumene concentrator and planned foundry.
Click Image To View Full Size
Figure 1. LeDuc East Lithium Properties (Pink)
The Leduc East Lithium Project claims cover part of an extensive belt of granitic and gneissic rocks that host pegmatitic mineralogy, with over 35 mapped pegmatites and covering 15 historical pegmatite-borne felspar showings, 13 of which are former Feldspar and Mica mines operated from the early 1900 to the 1940's.
The geologic summary for these historic mines indicate the presence of mica in the pegmatites, one possible source for Lithium (Natural Resources Quebec, Sigéom website). Moreover, of the 13 past producers, 5 produced Tourmaline, a key indicative mineral for Lithium. With the project located 4.5 km east from the historic Mine Leduc property which covers a small Lithium-bearing body (approximately 230 tonnes of 5.39% Li 2 O) from pegmatitic materials (GM62505, Geotech Exploration, 2006, non-NI 43-101 compliant ), there is strong indication of prospective lithium enrichment within our 60 km sq project area.
American Salars CEO & Director R. Nick Horsley states, "The opportunity to acquire this portfolio of past producing mines with thirty-five mapped pegmatites that were never assayed for Lithium, is an exciting proposition at these valuations. We have never been more optimistic about Lithium's future and American Salars is well positioned to capitalize on its growing demand. With highly prospective projects throughout Quebec, Nevada, Brazil and Argentina we are strategically located in some of the premier jurisdictions throughout North and South America."
The Transaction
American Salars has entered into an agreement with Quartier Minerals Ltd. of Quebec, whereby American Salars is acquiring a 100-per-cent interest in the Leduc East Lithium Project by issuing to the Vendor 50,000 common shares.
Additional projects are still being reviewed and will be subject to further disclosure once due diligence is completed and a deal is completed.
American Salars's management cautions that past results or discoveries on properties in proximity to American Salars may not necessarily be indicative of the presence of mineralization on the Company's properties.
Qualified Person
Mitchell Lavery, P.Geo. (QC), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for The Lac Simard portion of this news release, and has approved the disclosure herein.
American Salars global lithium portfolio consists of two advanced lithium resources in Argentina and our advancing USA lithium asset in Nevada.
The Company's existing portfolio of lithium deposits including two NI 43-101 Compliant Inferred Mineral Resource Estimates ("MRE") consisting of 457,000 tonnes Lithium Carbonate Equivalent ("LCE") at the Candela 2 Lithium Brine Project ("Candela") and a shared MRE at the Pocitos 1 Lithium Brine Project ("Pocitos") consisting of 760,000 tonnes LCE. The Pocitos MRE is shared with neighbouring Pocitos 2 which is not under contract or owned by USLI, however it is important to note that none of the drilling that makes up a partial basis for the MRE took place on the Pocitos 2 block. Both brine projects are located in Salta Province, Argentina.
About Pocitos 1 Lithium Deposit
WSP Australia completed an update of the NI 43-101 report initially written by Phillip Thomas QP in June 2023 and estimated on an inferred basis using a block model with 6% and 14% porosity for the clay and sand lithologies respectively and a Mineral Resource Estimate ("MRE") of 760,000 tonnes of Lithium Carbonate Equivalent ("LCE") on the combined Pocitos 1 (800 Ha) and neighbouring Pocitos 2 block (532 Ha). American Salars does not own the neighboring Pocitos 2 ground which comprises 40% of the gross land package that makes up the resource however it is notable that all drilling to date has been completed on American Salars' Pocitos 1 block.
The Pocitos 1 project is located approximately 10 kilometers from the township of Pocitos where there is gas, electricity, and accommodation. Pocitos 1 is approximately 800 hectares (1,977 acres) and is accessible by road. Collective exploration since 2017 totals over US$2.0 million in project development, including surface sampling, trenching, TEM and MT geophysics and the drilling of three wells that returned outstanding brine flow results. Locations for immediate follow up drilling have already been identified for upcoming exploration based on the most recent MT survey.
Lithium values of 169 ppm from drill hole PCT22-03 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project's December 2022 drill campaigns. A packer sampling system was used in HQ Diamond drill holes that were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours with all holes exhibiting exceptional brine flow rates. An NI 43-101 updated report completed by WSP Australia has been released on the Pocitos 1 project.
Ekosolve Ltd. a DLE technology company was able to produce 99.8% purity lithium carbonate and extraction was above 94% of the contained lithium in the brine i.e. 158.86ppm of lithium would have been recovered from 169ppm.
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Figure 2. Drilling at Pocitos 1 Lithium Brine Project (Salta, Argentina)
Qualified Person
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release regarding Argentina properties, and has approved the disclosure herein. Mr Thomas is a shareholder of American Salars lithium shares.
Shares For Debt Amendment
The Company previously announced it has settled with certain creditors of the Company (the " Creditors ") to settle a debt of $410,622.58 owing to the Creditors through the issuance to the Creditors of an aggregate of 2,933,018 common shares (each, a " Share ") at a price of $0.14 per Share (see press release dated February 20, 2025). The Company intends to reduce its debt settlement arrangements issuing 1,004,447 Shares at a price of $0.14 per share to settle outstanding indebtedness of $ 140,622.58
(the "Revised Debt Settlements").
One Creditor included in the Revised Debt Settlements intends to settle an aggregate of $23,625 of debt owing to a corporation owned by Daryn Gordon, the Company's Chief Financial Officer is considered a "related party transaction". The shares for debt transaction represents a complete settlement of the debt owing in respect to the CFO services provided to the Company by Mr. Gordon. The issuance of these shares will be completed in reliance on exemptions available under MI 61-101 from the formal valuation and minority approval requirements of MI 61-101. Specifically, the Revised Debt Settlements will be exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(b) of MI 61-101 as the Company, is not listed on a specified market within the meaning of MI 61-101. Additionally, the issuance is exempt from the minority approval requirement in Section 5.6 of MI 61-101 in reliance on Section 5.7(1)(a) of MI 61-101 insofar as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the shares exceeds 25% of the Company's market capitalization.
About American Salars Lithium Inc.
American Salars Lithium is an exploration company focused on acquiring and developing high-value battery metals projects to meet the growing global demand for a green energy transition. The Company has a diversified portfolio of Lithium Brine and Hardrock Lithium Projects throughout North and South America.
All Stakeholders are encouraged to follow the Company on its social media profiles on , , TikTok , and Instagram .
On Behalf of the Board of Directors,
" R. Nick Horsley "
R. Nick Horsley, CEO and Director
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.740.7492
E-Mail: info@americansalars.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
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The presentation will focus on the Graal Project’s near-term plans including areas to be drilled and its longer-term potential as a possible nickel-copper mine with cobalt, platinum, and palladium byproducts. The Company has engaged the services of Laurentia Exploration to design and manage ongoing exploration activities at the Graal property, strategically located near an ocean port at Saguenay-Lac St. Jean, Quebec. (See Feb. 3, 2025 news release .)
Mr. Basa stated, "The prospect of expanding upon known zones and finding new zones containing nickel, copper, cobalt and PGM at Graal is encouraging from the results of the completed drill programs. Numerous drill hole intercepts confirm the potential of Graal property for hosting significant and thick massive sulfides mineralization. We will continue to add to these results within known mineralized zones to increase our understanding while stepping out to expand those zones along the defined trends while exploring for new zones.” (See maps below for NiEq and CuEq calculations and planned areas for drilling, and the Feb. 3, 2025 news release for details and supporting data.)
Currently, the interpreted geological models indicate a potential for a low-grade, large-volume orebody with local and smaller but richer and thicker lenses along a lengthy mineralized trend. This scenario suggests the possibility of having a large, low-grade starter pit that can evolve to underground mining of the rich higher-grade pockets .
Graal Map with nickel equivalent (NiEq) calculations shown
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Alternative Graal Map with copper equivalent (CuE) calculations shown
Click Image To View Full Size
* For equivalents the prices were taken 2025-01-24 in USD: Cu $9,445.192/tonne, Ni $15,660.10/ tonne, Co $24,299.35/ tonne, Pt $950.00/oz, Pd $1,002.00/oz. Note that the equivilant calculation are for total metal content without consideration for recovery and/or metallurgical losses .
Q ualified Person
This news release has been reviewed and approved by Frank Basa, P.Eng. Ontario, CEO of Coniagas Battery Metals Inc., a qualified person in accordance with National Instrument 43- 101 standards.
The technical information reported in this news release and in the Feb. 3, 2025 news release was reviewed and approved by Maxime Bouchard, Geo, M.Sc. (OGQ #1752), an independent Qualified Person as defined by Canadian NI 43-101 standards. The Qualified Person has not completed sufficient work to verify the historical information on the Property, particularly regarding historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper and cobalt and platinum group metals in Québec. Coniagas’ strategy is to create value for shareholders through the development of its mineral properties, with the intention to develop Coniagas into a critical metals supplier to the electric vehicle (EV) market.
At its 100% owned Graal project near Saguenay, Quebec, Coniagas has conducted successful exploration involving geophysics as well as shallow drilling that hit mineralization in almost every hole. It has confirmed an open-pit deposit model at Graal along a 6 km strike length of high-grade nickel and copper with cobalt, platinum and palladium byproducts. The Company plans in the near-term to conduct additional drilling leading to the production of a Ni 43-101 resource report, metallurgical testing and consultations with First Nations. The Graal project and immediate work plan are outlined in detail in the “NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada” dated January 17, 2024. The report is available along with other information at the Company’s website https://coniagas.com/
Frank J. Basa, P. Eng. Member of Professional Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: waynecheveldayoff@gmail.com
You can follow Coniagas on Social Media:
LinkedIn:
X (Twitte r ):
Facebook:
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 regarding Coniagas Battery Metals Inc. (“Coniagas” or the “Company”) which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address the Coniagas trading on the TSX Venture Exchange, resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. 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. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
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Legacy Lithium Project
The Legacy Lithium Project spans 34,243 hectares located in Quebec's renowned Eeyou Istchee James Bay region and is subject to the Option to Joint Venture Agreement with RTEC. See announcement of the agreement here .
Figure 1.0 A map of the “Lithium Neighborhood” at the Legacy Lithium Project in Quebec
Option to Joint Venture Agreement with RTEC
Rio Tinto Partnership: Under the Option Agreement, RTEC has the option to acquire a 51% interest in SAGA’s Legacy Lithium Project over four years if it meets the following conditions:
If RTEC earns the initial 51% interest, it will then have the option to increase its stake to 75% over five more years by spending an additional C$34.18 million on exploration. RTEC will oversee the project as operator during both the first and second option periods, and a joint technical committee will plan the exploration programs.
The Legacy Lithium project covers 100km of striking paragneiss situated in a region known for lithium discoveries, including Winsome Resources Adina Project, Loyal Lithium’s Trieste Project, Rio Tinto and Midland Exploration’s Galinee Project, and Azimut Exploration and Soquem’s Galinee Project as shown in the map above.
2024 Field Program Conducted by RTEC
Commencing exploration activities in 2024, RTEC conducted geological mapping campaigns, a satellite imagery survey, and an airborne magnetics survey on the optioned Legacy Lithium project. On the property, a total of 173 pegmatite and country rock grab samples were collected and submitted for geochemical analysis. The airborne magnetic survey of the northwestern portion of the property was completed. A digital terrain model of the property was generated from Skywatch Pleiades Tri-Stereo satellite imagery which covers all but some of the far northern-western claims.
The work completed in 2024 was focused on prospecting for lithium mineralization hosted in pegmatites, assessing the potential for the discovery of new mineralized occurrences within the proliferous James Bay Pegmatite District.
Exploration: Prospecting Geological Data Collection, and Geochemistry
The results of the 2024 reconnaissance campaign, based on observation points and geochemical analysis, indicate that numerous pegmatites are widely distributed across the property, displaying variability in grain size, mineralogy, and texture. They are localized and primarily hosted within biotite-rich paragneiss. Although pegmatites are also present within orthogneiss, they tend to be less common, smaller in size, and undifferentiated. The pegmatites in zones of dilation and strain have a more evolved mineralogy, with garnets, apatite and tourmaline. Pegmatite emplacement appears structurally controlled by a WNW-ESE shear zone with occurrences preferentially along dilatational zones in this trend.
The highest Li₂O value found in pegmatite was 85 ppm in a boulder located on the western side and the highest value in an outcrop sample was 83 ppm. Notably, higher Li₂O concentrations were found in paragneiss, with a maximum Li₂O value of 201 ppm. Assay results from a pegmatite sample in the central-northeastern sector reveal an anomalous tantalum value (53ppm). This sample also yielded the highest beryllium value (83.4 ppm) and exhibited slightly elevated Rb/K ratios, a characteristic shared with nearby samples.
Strongly peraluminous compositions were identified throughout the property, particularly within the tantalum-enriched sample zone. These findings suggest the presence of localized areas with enhanced peraluminous character. Peraluminous compositions are strongly associated with S-type granites, which are known precursors of LCT pegmatites. Although the average Alumina Saturation Index across the property is generally low, a trend of increasing peraluminous character is observed in the southern region. A higher volume of sampling in this area would be necessary to confirm this trend.
Figure 2.0 Location of 2024 Field Samples. RTEC Spatial Distribution of Alumina Saturation Index Grab Samples 2024. Elevated alumina saturation can suggest a favorable melt source for Lithium mineralization and is used in combination with other analytical methodologies.
Figure 3.0 Samples (173) and tracks. Background: regional Quebec Government lithology map. Red and dark pink, granitoids. Shades of blue, paragneiss. Light pink, orthogneiss.
Geophysics & Remote Sensing
Skywatch was contracted to provide 50 cm high-resolution satellite imagery and tri-stereo digital terrain models (DTM) for the Legacy property. All but the northwesternmost claims on Legacy were covered during this survey.
A helicopter-borne magnetic survey was conducted over the Legacy property completing a total of 3,096 line-km of data during the survey. Due to weather and technical issues, only 40% of the planned survey area was completed before the survey was terminated. As a result, coverage was limited to the highest-priority northwesternmost section of the Legacy property. The remaining survey area is under consideration for completion in 2025.
Pegmatites were mapped on surface and noted to correlate with zones of magnetic lows. Skywatch was also used as an exploration tool where RTEC was able to survey the project with 50cm Ortho Imagery across the entirety of the property. Both tools coupled with geochemistry will allow for a more focussed exploration effort in 2025.
Figure 4.0 Detailed geophysics over the western border on the Legacy property. On strike with Adina’s Tilley project. Pegmatites are commonly identified within extreme magnetic lows and marked by rock samples taken in areas with exposed pegmatite outcrops. (RTEC 2024)
2025 Exploration Initiatives
In 2025, RTEC plans to continue its mapping, sampling, and prospecting survey based on past results and the airborne magnetics.
New zones in the far west of the property on strike with Winsome Resources’ Tilley project as well to the south of the Legacy property on strike with SAGA’s contiguous Amirault property yielded interesting observational points noted for further follow up by RTEC during the 2025 field season.
Quality Control
RTEC sampling protocols include the insertion of OREAS standards at regular intervals within each batch of sample submitted to the laboratory. CRM materials used included OREAS 520, OREAS 750, OREAS 751 and OREAS 753.
All samples were prepared by ALS Laboratories in Thunder Bay using a preparation package whereby the entire sample is crushed to 70% less than 2mm mesh size using a Boyd crusher and splitter combination. A 1kg split of crushed material is pulverized to better than 85% passing 75 microns mesh size. ALS internally sends all pulps to ALS Geochemistry in Vancouver for analysis.
Pegmatite materials were analyzed by a multi-method analytical package: Super Trace ME-MS61L (Multi-Element Suite with added Au, Pt, and Pd from the ICP-MS analysis. Au >35ppb overlimit via Au-ICP21, Ag, As, Co, Cu, Mo, Ni, Pb, S, Zn overlimits via OG62, all others via X-ICPDIL), ME-ICP06 (lithium borate whole rock analytes, LOI and Total Calculation), and ME-MS81 (full suite including REE's). Country rock samples were analyzed by: Super trace ME-MS61L and pXRF-30RT (RTX custom pXRF suite for resistate analytes (Cr, Nb, Si, Ta, Ti, Y, Zr). Add-on to multi-element methods).
About SAGA Metals Corp.
SAGA Metals Corp. is a North American mining company focused on the exploration and discovery of critical minerals that support the global transition to green energy. The company's flagship asset, the Double Mer Uranium Project, is located in Labrador, Canada, covering 25,600 hectares. This project features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.4281% U 3 O 8 and spectrometer readings of 22,000cps.
In addition to its uranium focus, SAGA owns the Legacy Lithium Property in Quebec's Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium.
SAGA also holds secondary exploration assets in Labrador, where the company is focused on the discovery of titanium, vanadium, and iron ore. With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.
For more information, contact:
SAGA Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@sagametals.com
www.sagametals.com
Qualified Person
Kamil Khobzi, P. Eng., MBA, of Kamil Khobzi & Associates Inc. is a “qualified person” as defined under NI 43-101 and has reviewed and approved the scientific and technical content of this news release regarding the Legacy Lithium Property
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. 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.
Cautionary Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects”, “believes”, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to exploration of the Legacy Lithium project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, risks and uncertainties involved in the mineral exploration and development industry, and the risks detailed in the Company’s final prospectus in Manitoba and amended and restated final prospectus for British Columbia, Alberta and Ontario dated August 30, 2024, filed under its SEDAR+ profile at www.sedarplus.ca, and in the continuous disclosure filings made by the Company with securities regulations from time to time. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.
Jindalee will be attending the PDAC Convention in Toronto, Canada over 2-5 March 2025
Jindalee will present to a North American investor audience at Redcloud's 13th annual Pre-PDAC Mining Showcase in Toronto over 27-28 February 2025
Redcloud is a Canadian-based investor relations group specialising in the junior resources sector
Jindalee Lithium Limited (ASX: JLL) (OTCQX: JNDAF) (Jindalee, the Company) is pleased to announce that the Company will participate in both the Prospectors and Developers Association of Canada (PDAC) Convention and the Pre-PDAC Mining Showcase, hosted by Redcloud Financial Services Inc. (Redcloud), a globally oriented resource focused financial services platform.
Jindalee can be found at booth 2606 in the Investors Exchange Exhibition Room at the PDAC Convention which will be attended by Jindalee's Chief Executive Officer, Ian Rodger. PDAC, regarded as one of the world's premier resources conferences, will run from Sunday, 2 March 2025 until Wednesday, 5 March 2025 at the Metro Toronto Convention Centre in Ontario, Canada.
Jindalee is also participating in Redcloud's Pre-PDAC Mining Showcase at the Omni King Edward Hotel in Toronto over Thursday 27 and Friday, 28 February 2025. Ian will be presenting at the Pre-PDAC Mining Showcase at 4.00pm local time on Friday, 28 February 2025. Jindalee will also be available to engage with investors in one-on-one meetings at the Pre-PDAC Mining Showcase and encourages interested investors to register for the event.
Jindalee looks forward to updating the North American mining and investment communities on progress at its 100% owned McDermitt Lithium Project which hosts one of the largest lithium resources in the U.S. The Pre-Feasibility Study at McDermitt, released in November 2024, outlines a highly robust multi-generational battery chemicals project1.
To register for the PDAC Convention visit here: https://pdac.ca/convention-2025/attending-2025/registration-2025
For more information and to register for the Pre-PDAC Conference please visit: https://redcloudfs.com/prepdac2025/
Authorised for release by the Jindalee Board of Directors. For further information please contact:
| LINDSAY DUDFIELD | IAN RODGER |
| Executive Director | Chief Executive Officer |
| T: + 61 8 9321 7550 | T: + 61 8 9321 7550 |
| E: enquiry@jindaleelithium.com | E: enquiry@jindaleelithium.com |
About Jindalee
Jindalee Lithium is an Australian company focused on developing the McDermitt Lithium Project, one of the largest lithium resources in the U.S. With 100% ownership and unencumbered offtake rights, Jindalee is strategically positioned to support America's energy security and domestic supply of critical minerals. The Company recently completed a Pre-Feasibility Study (PFS) confirming McDermitt's scale, long-life, and low-cost production potential, with strong engagement from U.S. government agencies, including the Department of Energy and Department of Defense. As a deeply undervalued lithium developer, Jindalee presents a compelling investment opportunity ahead of the next lithium market upcycle.
Competent Persons Statement
The Company confirms that it is not aware of any further new information or data that materially affects the information included in the original market announcements by Jindalee Lithium Limited referenced in this report and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. To the extent disclosed above, the Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
Forward-Looking Statements
This document may contain certain forward-looking statements. Forward-looking statements include but are not limited to statements concerning Jindalee Lithium Limited's (Jindalee's) current expectations, estimates and projections about the industry in which Jindalee operates, and beliefs and assumptions regarding Jindalee's future performance. When used in this document, the words such as "anticipate", "could", "plan", "estimate", "expects", "seeks", "intends", "may", "potential", "should", and similar expressions are forward-looking statements. Although Jindalee believes that its expectations reflected in these forward-looking statements are reasonable, such statements are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Jindalee and no assurance can be given that actual results will be consistent with these forward-looking statements.
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1Jindalee Lithium ASX announcement 19/11/2024: "McDermitt Lithium Project Pre-Feasibility Study"
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241723
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VANCOUVER, BC TheNewswire - FEBRUARY 20 th 2025 American Salars Lithium INC. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY ) announces its attendance at the upcoming Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025. The Company encourages attendees to meet the American Salars team at Booth #3210 in the Investor's Exchange.
About PDAC
The World's Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies, and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 26,000 attendees in person in 2024, participants could also attend programming, courses and networking events. The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world's mineral industry. For more information and/or to register for the conference please visit: https://www.pdac.ca/convention .
American Salars CEO & Director R. Nick Horsley states, "We are looking forward to showcasing our portfolio of Lithium assets and connecting with the investment community."
Stock Options
The Company announces that it has granted a total of 1,670,000 stock options ("Options") to purchase common shares of the Company to certain consultants pursuant to the Company's Stock Option Plan. Such Options are exercisable into common shares of the Company at an exercise price of $0.14 per common share for a period of twelve months from the date of grant.
Shares For Debt
The Company announces it has settled with certain creditors of the Company (the " Creditors ") to settle a debt of $410,622.58 owing to the Creditors through the issuance to the Creditors of an aggregate of 2,933,018 common shares (each, a " Share ") at a price of $0.14 per Share (the " Shares for Debt Transaction "). One Creditor included in the debt transaction to settle an aggregate of $23,625 of debt owing to a corporation owned by Daryn Gordon, the Company's Chief Financial Officer is considered a "related party transaction" . The shares for debt transaction represents a complete settlement of the debt owing in respect to the CFO services provided to the Company by Mr. Gordon.
MI 61-101 Disclosure – Shares for Debt
The proposed issuance of shares referenced herein will be considered to be a "related party transaction" for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The issuance of shares will be completed in reliance on exemptions available under MI 61-101 from the formal valuation and minority approval requirements of MI 61-101. Specifically, the Shares for Debt Transaction will be exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(b) of MI 61-101 as the Company, is not listed on a specified market within the meaning of MI 61-101. Additionally, the issuance is exempt from the minority approval requirement in Section 5.6 of MI 61-101 in reliance on Section 5.7(1)(a) of MI 61-101 insofar as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the shares exceeds 25% of the Company's market capitalization.
The debt settlement will not create a new control person in the settlement. The Company wishes to complete the Shares for Debt Transaction to improve its financial position by reducing its existing liabilities. The debt settlement transaction is subject to the approval of the Canadian Securities Exchange (the " CSE ") and pursuant to the policies of the CSE, the Shares are subject to a hold period of four months from the date of issuance.
Additionally, the Company has terminated its Isla property option.
ABOUT AMERICAN SALARS
American Salars Lithium is an exploration company focused on acquiring and developing high-value battery metals projects to meet the growing global demand for a green energy transition. The Company has a diversified portfolio of Lithium Brine and Hardrock Lithium Projects throughout North and South America.
All Stakeholders are encouraged to follow the Company on its social media profiles on , , TikTok , and Instagram .
On Behalf of the Board of Directors,
" R. Nick Horsley "
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.740.7492
E-Mail: info@americansalars.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
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