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Smaller and simpler bismuth circuit with high metal recoveries align with new market demand
Fortune Minerals Reports Successful NICO Project Bismuth Test Work Results for the Planned Alberta Refinery
Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to report that metallurgical test work validation is essentially complete for the bismuth circuits for the Company's 100% owned NICO cobalt-gold-bismuth-copper critical minerals project in Canada (" NICO Project "). The Process Design Criteria has been compiled and delivered to Worley Canada Services Ltd. (" Worley ") to engineer the facilities and incorporate them into the Company's updated Feasibility Study. With 12% of global bismuth reserves, development of the NICO Project aligns with the increasing demand for bismuth in traditional and new market applications and the historic high prices (~US$ 27 per pound), compounded by China's recent export restrictions on this, and other critical minerals.
The vertically integrated NICO Project consists of a planned mine and concentrator in the Northwest Territories (" NWT ") and a hydrometallurgical process facility in Lamont County, Alberta where concentrates from the mine, and other feed sources, will be processed to value-added products needed in diverse industries, the energy transition, new technologies, and defense. Development of the NICO Project will provide a reliable North American supply of cobalt sulphate, gold doré, bismuth ingots, and copper cement enhancing domestic production of three critical minerals. The 1.1 million ounces of in-situ gold in the NICO Project Mineral Reserves is also a highly liquid and countercyclical co-product to mitigate metal price volatility.
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Bismuth Process Highlights
- Improved bismuth leaching and cementation circuits with an expected reduction in capital and operating costs and higher metal recoveries
- Efficient and cost-effective regeneration of ferric chloride lixiviant used to leach bismuth prior to cementation to reduce reagent costs and safely dispose of excess process water
- Validation of high-quality 4N bismuth ingot production from smelting and refining bismuth cement
- Positive preliminary test results from blending Fortune bismuth concentrate and Rio Tinto bismuth oxychloride with no adverse impacts on product quality or metal recovery
- Historic high bismuth prices from increasing demand and restricted supply
Test Work Results
Fortune has completed the hydrometallurgical phase of its test work program for the NICO Project bismuth circuit at SGS Canada Ltd. (" SGS ") in Lakefield, Ontario. The scope for this program was validation of the leaching, cementation and lixiviant regeneration unit operations, and compilation of the Process Design Criteria for detailed engineering. The results exceeded the Company's expectations, supporting a material reduction in the bismuth circuit size and the expected capital and operating costs at the planned Alberta hydrometallurgical facility.
Bismuth recovery in cement was ~98% after factoring in the ferric chloride leaching, washing and iron cementation efficiencies, compared with lower initial recovery targets. The bismuth cement produced averaged ~95% bismuth, rendering it suitable for smelting and subsequent refining to high-purity metal ingots. Ferric chloride leaching was optimized to a single-stage configuration, resulting in an ~65% volume reduction for the equipment. Cementation using iron powder was also optimized to a single stage configuration, resulting in an ~75% equipment volume reduction. The work also proved that the ferric chloride lixiviant used to leach the bismuth can be regenerated using chlorine with ~95% oxidation efficiency, consistent with well-established industrial processes. Therefore, the process streams can be recycled to save reagent costs while also allowing for safe disposal of the excess process water.
Exploratory testing of Rio Tinto bismuth oxychloride blended with Fortune bismuth concentrate at the estimated production ratio during operations produced a high quality bismuth cement with no adverse impacts on recoveries. Additional work is planned in collaboration with Rio Tinto aiming to maximize the blend-ratio and overall product output. The Rio Tinto feed is produced from waste streams at the Kennecott Smelter in Utah enhancing its goals for total orebody effectiveness and supporting domestic critical minerals production.
Fortune retained XPS Industry Relevant Solutions (" XPS ") to conduct the bismuth smelting and refining test work for the pyrometallurgical circuits for the Alberta facility. Bismuth cement samples produced at SGS were submitted for pyrometallurgical testing to prove the production of 99.99% (" 4N ") bismuth ingots, the desired specification for many metal applications as well as for making bismuth oxide and other chemicals. A crude ingot was initially produced assaying 99.8% bismuth (" 2N "), which was subsequently refined with liquation, sulphuration and chlorination steps to increase the purity and achieve the 99.99% bismuth (" 4N ") target grade. The pyrometallurgical investigation is nearing completion, pending the results of a second series of smelting and refining tests and receipt of the final report with the Process Design Criteria needed for the Feasibility Study.
Government Support
Fortune is working with the Canadian and U.S. governments to expand domestic critical minerals production and enhance North American supply chain resilience and security. The Company has been awarded ~C$17 million of non-dilutive contribution funding from the U.S. Department of Defense through its Defense Production Act Title III program, Natural Resources Canada's Global Partnerships Initiative and Critical Minerals Research Development and Demonstration programs, and Alberta Innovates Clean Resource Intake program. This financial support is helping Fortune advance the NICO Project to a project finance and construction decision (see news releases dated, May 16, 2024, and December 5, 2023). Specifically, the funds are supporting metallurgical test work to validate process improvements, update the Feasibility and Front-End Engineering and Design (" FEED ") studies, and secure the remaining permits and authorizations needed to construct and operate the mine and concentrator in the NWT and hydrometallurgical facility in Alberta.
About Bismuth
The NICO Project contains four payable metals, including the largest known resource of bismuth in the world. Bismuth has unique physical and chemical properties that are essential for important industrial and technological uses, but the supply chains are vulnerable to disruption because China controls over ~90% of refined bismuth supply. Consequently, bismuth is identified on both the Canadian and U.S. government's Critical Minerals Lists. Notably, China recently imposed controls over the export of bismuth and other critical minerals resulting in shortages of supply and a precipitous increase in price.
Bismuth is widely used in the automotive industry for glass and steel coatings, paints and pigments and abrasives used in brake pads. It is also used in low melting temperature and dimensionally stable alloys and compounds, fire depressant sprinkler systems, cosmetics and pharmaceuticals. Bismuth consumption is increasing primarily as an environmentally safe and non-toxic replacement for lead in brass, solder, free machining steel and aluminum, glass, radiation shielding, ceramic glazes and ammunition. Bismuth-tin alloy is used to make environmentally safe plugs to properly seal decommissioned oil and gas wells, preventing greenhouse gas leakage, blowouts and groundwater migration that can contaminate aquifers. Bismuth is also used in high performance semiconductors and manganese-bismuth magnets that are resistant to demagnetization from heat and are a potential replacement for rare earth elements in electric motors, including electric vehicle powertrains. In the nuclear industry, bismuth coolants are used in some reactor designs and to make radiation shielding with unique gamma ray blocking properties. The dimensional stability of bismuth alloys is also used to align jet engine turbine blades and for lens blocking.
About the NICO Project
Fortune has expended approximately C$145 million to advance the NICO Project from an in-house mineral discovery to a near construction-ready development asset with environmental assessment approval and the major mine permits already secured in the NWT. NICO and the Company's nearby Sue-Dianne copper deposit are IOCG-type mineral deposits with multiple payable metals, reducing the Company's vulnerability to price volatility or market manipulation of any single metal. The Open Pit and Underground Mineral Reserves for the NICO deposit contain 33.1 million metric tonnes of ore containing 1.1 million ounces of gold, 82.3 million pounds of cobalt, 102.1 million pounds of bismuth and 27.2 million pounds of copper. Development of the NICO Project would provide a vertically integrated domestic supply of three critical minerals and gold with custody control of the metals from ore through to the production of value-added products to help diversify the supply chains from foreign entities of concern.
For more detailed information about the NICO Mineral Reserves and certain technical information in this news release, please refer to the Technical Report on the NICO Project, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited which has been filed on SEDAR and is available under the Company's profile at www.sedar.com .
The disclosure of scientific and technical information contained in this news release have been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune and Alex Mezei, M.Sc., P.Eng. Fortune's Chief Metallurgist, who are "Qualified Persons" under National Instrument 43-101.
About Fortune Minerals
Fortune is a Canadian mining company focused on developing the NICO cobalt-gold-bismuth-copper project in the NWT and Alberta. Fortune also owns the Sue-Dianne copper-silver-gold satellite deposit located 25 km north of the NICO deposit and a potential future source of incremental mill feed to extend the life of the NICO concentrator.
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This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the construction of the proposed mine and concentrator in the NWT and the hydrometallurgical process facility in Alberta, the potential for expansion of the NICO Deposit and the Company's plans to develop the NICO Project. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: the successful completion of the Company's updated feasibility study, the Company's ability to secure the necessary financing to fund the working capital required for the government funded work, the Company's ability to complete construction of a NICO Project hydrometallurgical process facility; the Company's ability to arrange the necessary financing to continue operations and develop the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project and the related hydrometallurgical process facility and the timing thereof; growth in the demand for bismuth; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt, bismuth and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project. However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that the Company may not be able to complete the metallurgical test work to validate process improvements, update the Feasibility and FEED studies and secure the remaining permits and authorizations needed to construct and operate the mine, concentrator in the NWT and hydrometallurgical facility in Alberta, the Company may not achieve the anticipated reductions in capital and operating costs for the bismuth circuit, the Company may not be able to finance and develop NICO on favourable terms or at all, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical process facility, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company's production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250509583965/en/
For further information:
Fortune Minerals Limited Â
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com
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Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
 OR FOR DISSEMINATION IN THE UNITED STATES
Brunswick Exploration Inc. (" Brunswick " or the " Corporation ") (TSX-V: BRW, OTCQB: BRWXF) is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc., to act as co-lead agent and sole bookrunner along with Canaccord Genuity Corp. as co-lead agent (collectively, the " Agents "), in connection with a "best efforts" private placement (the " Marketed Offering ") for aggregate gross proceeds of up to C$2,500,000 from the sale of (i) units of the Corporation (the " LIFE Units ") at a price of C$0.13 per LIFE Unit (the " Offering Price ") and (ii) units of the Corporation (the " Non-LIFE Units ", and collectively with the LIFE Units, the " Offered Securities ") at a price of C$0.15 per Non-LIFE Unit. A strategic investor has made a lead order to subscribe for Non-LIFE Units under the Offering.
Each LIFE Unit will consist of one common share of the Corporation (each, a " Unit Share ") and one half of one common share purchase warrant (each whole warrant, a " LIFE Warrant "). Each whole LIFE Warrant will entitle the holder thereof to purchase one common share of the Corporation (each, a " Warrant Share ") at a price of C$0.20 at any time for a period of 36 months following the Closing Date (as defined herein).
Each Non-LIFE Unit will consist of one Unit Share and one common share purchase warrant (each, a " Non-LIFE Warrant "). Each Non-LIFE Warrant will entitle the holder thereof to purchase one Warrant Share at a price of C$0.25 at any time for a period of 36 months following the Closing Date.
The Agents will have an option, exercisable in full or in part, up to 48 hours prior to the Closing Date, to raise up to C$1,000,000 in additional gross proceeds from the sale of LIFE Units at the Offering Price (the " Agents' Option ", and together with the Marketed Offering, the " Offering ").
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the LIFE Units will be offered for sale to purchasers in all the provinces of Canada (the " Canadian Selling Jurisdictions ") pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities to be issued pursuant to the sale of LIFE Units are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada.
The Non-LIFE Units will be offered by way of the "accredited investor" and "minimum amount investment" exemptions under NI 45-106 in the Canadian Selling Jurisdictions. The securities to be issued pursuant to the sale of Non-LIFE Units will be subject to a four-month hold period in Canada pursuant to applicable Canadian securities laws.
The Offered Securities may also be issued to purchasers outside of Canada, including to purchasers resident in the United States pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933 (the " U.S. Securities Act "), as amended.
The Corporation intends to use the net proceeds of the Offering for exploration activities at the Company's Québec and Greenland projects, as well as for general corporate purposes and working capital.
The Offering is scheduled to close on May 28, 2025 (the " Closing Date "), or such other date as the Corporation and the Agents may agree. Completion of the Offering is subject to certain conditions including, but not limited to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
There is an offering document related to the Offering that can be accessed under the Corporation's profile at www.sedarplus.ca and on the Corporation's website at www.brwexplo.ca. Prospective investors should read this offering document before making an investment decision.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Brunswick Exploration
Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Corporation is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The Corporation is rapidly advancing the most extensive grassroots lithium property portfolio in Canada and Greenland.
Investor Relations/information
Mr. Killian Charles, President and CEO (info@brwexplo.ca)
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Such forward-looking information includes, but is not limited to, statements concerning the Corporation's expectations with respect to the use of proceeds and the use of the available funds following completion of the Offering; the completion of the Offering and the date of such completion, approval of the TSX Venture Exchange and the filing of the offering document. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR+ at www.sedarplus.ca. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
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SAGA Metals Extends Claims at the Radar Ti-V-Fe Project --Securing the Entire Titanomagnetite-Bearing Intrusion
Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company specializing in the discovery of critical minerals, is pleased to announce the addition of 97 new claims covering 2,425 hectares, increasing the total area of the Radar Ti-V-Fe Project to 24,175 hectares.
The Company's 100%-owned Radar Property is strategically located just 10 kilometres from the coastal city of Cartwright, Labrador. The location offers excellent infrastructure advantages, including:
- Road access
- Deep-water port on the Atlantic Ocean
- Cartwright Airport
- Proximity to hydroelectric power
With the recent expansion, the Radar Property now fully encompasses the Dykes River intrusive complex, a recently identified Mesoproterozoic layered mafic intrusion (Gower, 2017). The complex has garnered significant interest due to its geological resemblance to large AMCG-type intrusions and the presence of an extensive titanium-vanadium-iron (Ti-V-Fe) enriched layer containing vanadiferous titanomagnetite ("VTM").
Regional airborne magnetic surveys highlighted the mafic oxide layer, revealing an arcuate exploration target extending over 20 kilometers in length.
Michael Garagan, CGO & Director of SAGA commented: "To lay claim to the entire Dykes River Intrusion is an important milestone for SAGA and its shareholders. Throughout history, many of these mineralized geological settings have been shared amongst multiple companies vying to advance their projects. It's a unique and significant opportunity to hold the entire 160 square km intrusion mapped at the surface and benefits from tremendous infrastructure. The claim acquisition consolidates the entire intrusion and allows the company to delegate zones for both additional infrastructure and further exploration. We've only just begun uncovering the true potential and extent of the oxide layering hosted within the intrusion."
Figure 1: Map of the Radar project highlighting the oxide layering, road access, and proximity to the town of Cartwright, Labrador. SAGA's 2024 field programs now confirm compilation of historical airborne geophysics.
Saga Metals Confirms Geological Success with Drilling:
The Company recently reported assays from the first two of seven holes drilled on the Hawkeye zone of the Radar Ti-V-Fe property. Please click here to review the full press release on drill holes #1 and #4. Highlights are listed below.
Highlights:
- Drilled 2,200m confidently testing targets down to a depth of 200 meters, covering a 500-meter by 350-meter target panel.
- Winter program analytical results have been obtained for the first two diamond drill holes.
- Petrographic analysis and the new assays confirm that the main economic mineral is a vanadiferous titanomagnetite ("VTM"), which is prospective for simplified metallurgical processing.
- Exceptional intercepts of VTM included 31.5m @ 25.95% Fe + 5.34% TiO 2 + 0.28% V 2 O 5 in HEZ-01 and 50m @ 24.49% Fe + 4.74% TiO 2 + 0.305 % V 2 O 5 in HEZ-04.
- Massive high-grade VTM samples including HEZ-01 with 0.3m @ 39.5% Fe + 9.4% TiO 2 + 0.339% V 2 O 5 and HEZ-01 with 0.5m @ 43.0% Fe + 9% TiO 2 + 0.512% V 2 O 5 .
- Drilling intercepts average 20-40% VTM, and particular massive layers exceed 60% VTM.
- Drilling to vertical depths of 200 meters confirms magnetic anomalies identified by geophysics.
- Initial drilling covers just 1/40th of the identified 20 km strike extent of the oxide layering zone in the Dykes River intrusion.
Drilling also confirmed massive to semi-massive oxide layering, hosting VTM mineralization, with significant widths up to 210 meters within the drill core. The geological context identified by Dr. Al Miller's petrographic studies substantially advanced the understanding of Radar Property mineralization. These findings indicate that the VTM mineralization system is advantageous for simplified metallurgical processing and potentially improves economic outcomes.
Figure 2: The prospective oxide layering zone on the Radar property extends for an inferred 20km strike length, as shown on a compilation of historical airborne geophysics, which SAGA confirmed in the 2024 field programs.
Figure 3: Hawkeye Zone displays a  500m strike by 350m width magnetic anomaly drilled in the winter 2025 program. (2024 Saga Metals. TMI Magnetic Survey).
Given the success of the maiden drill program within the Hawkeye zone over a 500 m strike and the strong correlation between drill core, rock samples and geophysics (Figure 3), SAGA plans to repeat this model over the five priority targets along the 20 km strike length of the oxide layer. The geophysical anomaly drilled in the Hawkeye zone is potentially one of the lesser anomalies. Early indications from geophysics being conducted over the Trapper zone report an even stronger magnetic response.
Qualified Person
Paul J. McGuigan, P. Geo. is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Radar Ti-V-Fe Project disclosed in this news release.
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 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).
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 additional 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.
On Behalf of the Board of Directors
Mike Stier, Chief Executive Officer
For more information, contact:
Saga Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@SAGAmetals.com
www.SAGAmetals.com
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 the Company's Radar Ti-V-Fe 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.
Photos accompanying this announcement are available at:
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American Salars Starts Sampling at 100% Owned Brazilian LCT Pegmatite Project, with Past Samples Hitting 3.72% Li2o and Significant Ree Values
(TheNewswire)
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VANCOUVER, BC TheNewswire - MAY 7 th 2025 American Salars Lithium Inc. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY ) announces that it has commenced a Phase 2 sampling program on its 100% owned, highly prospective 18,083 Hectares (180 sq km) Hardrock LCT ("Lithium-Cesium-Tantalum") Pegmatite Project including Rare Earth Elements ("REEs") and Critical Minerals (the "Jaguaribe Project ").
The Jaguaribe Project is located in the Jaguaribe/Solonópole region in the State of Ceará, in Northern Brazil and hosts multiple extensive Lithium and REE bearing pegmatite dykes that have returned initial Phase 1 sample discoveries of up to 3.72% Li 2 O, 2.15% Li 2 O and 1.58% Li 2 O as well as 554.5 ppm of Cesium,
135 ppm of Tantalum, 177 ppm of Niobium. One sample showed high values for Rubidium (>10,000ppm); Tin (675 ppm) and Zinc (387ppm).
American Salars CEO & Director R. Nick Horsley states, " We are thrilled to launch the second phase of exploration at our Jaguaribe Project, building on the promising lithium and rare earth element (REE) discoveries from phase one. Brazil is a global hub for hard rock lithium production, and our Jaguaribe Project, located in a well-known pegmatite district, has already yielded high-grade lithium samples and significant REE values. This next phase will focus on identifying and sampling additional pegmatites to further delineate the scale and quality of this critical mineral-rich region."
The initial phase 1 exploration program revealed multiple long and wide pegmatite dykes that measure up to 30 meters in width and up to 300 meters in length that are largely unexplored. American Salars has secured field crews, a Brazil focussed senior geologist, and lithium specialist QP to oversee a more extensive Phase 2 work program to map new pegmatite outcrops as well as sampling new and known areas of mineralization. The Company has secured sampling and exploration crews and is working with local Brazil based geological consultants to help plan a follow up drilling program to test priority targets.
About the Jaguaribe Property
The Jaguaribe Property covers historic artisanal mining sites previously mined for lithium, coltan (tantalum and niobium) and tin.
Initial sampling of the Jaguaribe Pegmatites returned Spodumene bearing pegmatite samples that graded up to 3.72% Li2O as well as Rare Earth Elements.
Phase 2 sampling will test multiple additional LCT Pegmatite targets.
Ideal project location - Historical Pegmatite Province Brazil.
4-hour drive on paved roads to port and international airport (Fortaleza).
The topography, land use and vegetation at Jaguaribe Property is well suited for exploration activities.
Arid, sparsely populated farmland, no rain forest.
Northern Brazil provides shipping routes and deep-water ports to North American and European battery chemical markets.
Click Image To View Full Size
Figure 1. Geological Map of the Solonópole/Jaguaribe Region, with location of the Jaguaribe claim blocks shown in YELLOW color .
Multi elements ICP analysis (55 elements) of 13 pegmatites sampled across the Jaguaribe Project, returned: Lithium, Rubidium, Tantalum and Niobium. Of the 13 samples, one (VM-EJ-R-01) is mineralized with Lithium at (3.72% Li2O), a normal occurrence, because it was the first geological reconnaissance work carried out on the Project. The presence of Li bearing Lepidolite and Spodumene minerals were observed in the pegmatites during the initial fieldwork.
Pegmatite VM-EJ-01 is an LCT (Lithium-Cesium-Tantalum) pegmatite, in addition to samples of 3.72 Li2O, anomalous values of 554.5 ppm of Cesium and 135 ppm of Tantalum were recorded, accompanied by 177 ppm of Niobium and high values for Rubidium (>10,000ppm); Tin (675 ppm) and Zinc (387ppm). Initial fieldwork also detected two additional pegmatites with 2.15% and 1.58% Li2O, respectively, which led to the exploration and acquisition of the 10 claim blocks that make up the Jaguribe Property.
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Figure 2. LCT pegmatite Outcrops and Surface Samples from vein in a North -Northeast direction and embedded in gneiss.
Figure 3. Location of the Pegmatite Districts of Ceará, Brazil.
Geochemical Characteristics of Pegmatites, Jaguaribe Project, Ceará, Brazil
A multi-element analyse was conducted at the SGS laboratory for 58 elements including REE, from 12 samples from the Jaguaribe Project. These samples were analyzed by the ICM90A method: determination with fusion in sodium peroxide-ICP OES/ICP MS.
Geochemistry of the Pegmatites samples from the Jaguaribe Project area, was compared with the standard sample or standard analysis provided by the SGS laboratory, with the common elements and their contents in an LCT-type Pegmatite (Lithium, Cesium and Tantalum).
The pegmatite from the VM-R-01 Pegmatite sample, which contained Lepidolite and a content of 1.54% Li 2 O, shows a strong geochemical correlation with the standard sample, in terms of the contents of Li, Cs, and Ta, the latter being much higher (135 ppm Ta) than the Ta content of the SGS standard sample (18 ppm Ta). The VM-R-1 sample also shows a correlation with the SGS standard, in terms of Rb, Nb, Sn and P. Other pegmatite samples from the Jaguaribe Project, namely VM-R-6 and VM-R-7, are iron enriched and present less marked correlations, in relation to the contents of the standard sample only in the elements Li, Rb and Ba, although they show anomalous geochemical values of Cs.
The results of the VM-R-8 and VM-R-10 analyses show a good correlation with the results of the SGS standard sample, regarding the contents of Rb, Ba, Cs, Ta, Nb and P, but the Li levels fell, respectively, to 110 ppm and less than 10 ppm. This sharp drop in the Li levels of these samples is mainly due to the leaching of Li minerals by surface waters, notably Spodumene, a phenomenon observed in most of the pegmatites in the region, whose Li levels increase substantially in the subsurface in mining pits, in the companies' research excavations and mainly in drill holes.
QUALIFIED PERSON
The technical content regarding the Jaguaribe Project, in this release has been reviewed and approved by Mitchell E. Lavery, P. Geo, who is an Independent Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
ABOUT AMERICAN SALARS
American Salars Lithium is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market.
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" R. Nick Horsley "
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.740.7492
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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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Albemarle Announces 126th Consecutive Quarterly Common Stock Dividend
The Board of Directors of Albemarle Corp. (NYSE: ALB) announced today that it declared a quarterly common stock dividend of $0.405 per share. This marks Albemarle's 126 th consecutive quarterly cash dividend.
The dividend, which has an annualized rate of $1.62 , is payable July 1, 2025 , to shareholders of record at the close of business as of June 13, 2025 .
About Albemarle Â
Albemarle Corp. (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at Albemarle.com , LinkedIn and on X (formerly known as Twitter) @AlbemarleCorp .
Albemarle regularly posts information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, U.S. Securities and Exchange Commission filings and other information regarding the company, its businesses and the markets it serves.
Forward-Looking Statements
This press release contains statements concerning our expectations, anticipations and beliefs regarding the future, including, without limitation, statements related to future dividends and results, which may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed. Factors that could cause actual results to differ materially from the statements expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; expected market pricing of lithium and spodumene and other underlying assumptions and our 2025 outlook considerations; adverse changes in liquidity or financial or operating performance; changes in the demand for our products or the end-user markets in which our products are sold and the other factors detailed from time to time in the reports we file with the U.S. Securities and Exchange Commission, including those described under "Risk Factors" in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
Media Contact: Peter Smolowitz, +1 (980) 308-6310, media@albemarle.com Â
Investor Relations Contact: +1 (980) 299-5700, invest@albemarle.com
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