Resource News

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Cypress Development Corp. is pleased to announce that due to strong investor demand, it has entered into an amending agreement with PI Financial Corp., as the sole underwriter and bookrunner to increase the size of the previously announced bought deal financing to an aggregate of 8,000,000 units of the Company at a price of $2.00 ...

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

Cypress Development Corp. ( TSXV: CYP ) ( OTCQX: CYDVF ) ( Frankfurt: C1Z1 ) ("Cypress" or "the Company") is pleased to announce that due to strong investor demand, it has entered into an amending agreement with PI Financial Corp., as the sole underwriter and bookrunner (the "Underwriter") to increase the size of the previously announced bought deal financing to an aggregate of 8,000,000 units of the Company (the "Units") at a price of $2.00 per Unit (the "Offering Price") for gross proceeds of $16,000,000 (the "Offering"). Each Unit shall consist of one common share of the Company and one common share purchase warrant (each, a "Warrant"). Each Warrant shall be exercisable for one common share of the Company for a period of 24 months from the Closing Date (as herein defined) at an exercise price of $2.65.

In addition, the Company has granted the Underwriter an option (the "Over-Allotment Option"), exercisable in whole or in part, for a period of 30 days following the Closing Date, to purchase up to an additional 15% of the Units sold pursuant to the Offering, on the same terms as the Offering, to cover over-allotments and for market stabilization purposes.

The net proceeds from the Offering are expected to be used by the Company to fund ongoing work, development and permitting activities at its Clayton Valley Lithium Project in Nevada and for working capital and general corporate purposes.

Closing of the Offering is expected to take place on or about February 3, 2022 and is subject to certain conditions including, but not limited to the receipt of all applicable regulatory approvals including approval of the TSX Venture Exchange.

The Units to be issued under the Offering will be offered by way of a short form prospectus to be filed in each of the provinces of Canada, except Québec. The Units may also be offered in the United States to Qualified Institutional Buyers pursuant to exemptions from the registration requirements of the United States Securities Act of 1933 as amended, (the "U.S. Securities Act"), in a manner that does not require the Offering to be registered in the United States, and in certain other jurisdictions in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the U.S. Securities Act, or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium exploration company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only lithium brine operation. Cypress is advancing its Clayton Valley Lithium Project in Nevada towards the production of high-purity lithium hydroxide suitable for tier one battery usage.

ON BEHALF OF Cypress Development Corp.

WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:

Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email scacos@cypressdevelopmentcorp.com
www.cypressdevelopmentcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements that may be deemed to be "forward-looking statements" including, but not limited to, statements related to the expected use of proceeds of the Offering. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.


News Provided by GlobeNewswire via QuoteMedia

CYP:CA
Cypress Development

Cypress Development

Overview

Electric vehicles aren’t just the hottest trend in Silicon Valley anymore. With wider cultural acceptance in green power alternatives, more accessible technologies and increasingly supportive legislative action, analysts expect this market and the demand for metals that supply it to climb to exponential highs.

In the United States, the government has named lithium a vital component in electric vehicle batteries and a strategic metal of importance. In 2021, President Joe Biden announced a US$2.3 trillion Infrastructure Plan, which outlines the intent to bring electric cars fully to the mainstream with investments of US$174 billion to promote this technology and construct necessary charging stations. This significant spending demonstrates exciting early-mover investment opportunities for lithium production companies and electric industries alike.

Cypress Development (TSXV:CYP, OTCQX:CYDVF) is an advanced-stage mineral exploration company focused on developing its 100 percent owned Clayton Valley lithium project in Nevada, USA. The company’s extensive exploration and development have led to discovering a world-class lithium-bearing claystone resource adjacent to the Albemarle (NYSE: ALB) Silver Peak mine, North America’s only lithium brine operation.

The company’s discovery of the massive resource made Clayton Valley a premium American source of lithium that has the potential to impact the supply of lithium for the fast-growing energy storage battery market.

“We’re in Nevada and we’re in a country that badly needs lithium. We would be the most environmentally friendly project, and the lowest acid consumer. We’re able to eliminate sulfuric acid in our process and that would make us an extremely environmentally friendly, large, inexpensive low cost producer in the heart of the United States.” said Cypress Development CEO Dr. Bill Willoughby.

Clayton Valley Lithium Project, Nevada claims map

The company is using environment-friendly mining alternatives through saltwater and hydrochloric acid instead of the traditional fresh water and sulfuric acid method. This significant proposal could mean Cypress will no longer compete for Nevada’s scarce fresh water supply for Nevada’s freshwater resources for project advancement when it comes time for mining.

In August 2020, Cypress released the results of its pre-feasibility report, which provided a positive snapshot of Clayton Valley’s prospective production scope. Probable reserves stand at 213 million tonnes at 1,129ppm lithium with an average annual production of 27,400 tonnes Lithium Carbonate Equivalent (LCE) and a mine life of over 40 years. After-tax IRR stands at 25.8 percent with a CAPEX of CAD$493 million.

“This PFS is a major milestone for Cypress. These positive results take us closer to our goal of developing a world-class lithium deposit. Cypress’ land position and resources afford us the opportunity for a long-life project with low operating costs and potential to be a significant source of lithium for the United States,” Dr. Willoughby said.

Lithium enriched claystone on surface at Clayton Valley Project, Nevada

The company recently initiated the selection and purchasing of materials to commission a pilot plant and extraction facility for the lithium-bearing claystone from its Clayton Valley Lithium Project in Nevada. The pilot plant is planned to operate at a rate of one tonne/day and will be designed for correct interaction and testing of the major components within the extraction process and assessment of the resulting lithium products.

Cypress Development’s Company Highlights

  • Cypress Development is one of a handful of companies that are post-pre-feasibility, advancing towards production. The company is well advanced to become a long-term, low-cost lithium producer with potential expansive international reach.
  • The Clayton Valley lithium project in Nevada has an extensive surface deposit in a unique setting adjoining Albemarle’s Silver Peak brine operation.
  • Operating out of the prolific Nevada state provides the company with world-class exploration opportunities, mineral-rich geological resources and proximity to the Tesla gigafactory.
  • In 2020, the company released strong economic standing with its pre-feasibility study, including a probable reserve estimate of 213 million tonnes at 1,129ppm lithium, IRR of 25.8 percent and CAPEX of CAD$493 million.
  • Cypress possesses very favorable economic and geographic positioning in leveraging a present strong demand for lithium, world-class mining jurisdiction and an advanced stage operation in their flagship Clayton Valley lithium project.
  • 2021 plans include the commissioning of the Clayton Valley lithium project’s pilot plant, which could see significant tonnage in lithium and clay production. Cypress is also looking to complete its feasibility study based on the data from this pilot plant operation.
  • Cypress has acquired 24 unpatented mining claims in Clayton Valley, Nevada bringing the Company’s land holdings to 6558 acres in total.

Cypress Development’s Key Project

Clayton Valley Lithium Projec

The 100 percent owned Clayton Valley lithium project spans 5,430 acres in southwest Nevada and sits immediately east of the Albemarle’s Silver Peak mine, North America’s only lithium brine operation. The asset hosts tremendous potential with Cypress’ discovery of a world-class resource of lithium-bearing claystone adjacent to the brine field to the east and south of Angel Island.

Lithium enriched drill core from Clayton Valley Project, Nevada

Lithium mineralization occurs on the property within montmorillonite clays throughout the sediments to a depth of at least 150 meters. Metallurgical testing has indicated low-cost processing possibilities through leaching with low acid consumption of 126 kg/t and high lithium recovery over 85 percent lithium. This lithium claystone deposit’s unique large flat-lying nature allows for mining with a low strip ratio due to minimal overburden and no interbedded waste, which is hugely economically advantageous for Cypress.

Future plans for the Clayton Valley lithium project include commissioning of the pilot plant, which Cypress proposes could process one tonne a day continuously in 2021. The company also intends to use the data from the pilot plant towards the completion of the project’s feasibility study. Cypress also has the acquisition of water rights for Clayton Valley in the works, which pushes significant advancement in the 2021 and 2022 seasons.

Cypress Development’s Management Team

William Willoughby, PhD, PE

President, Chief Executive Officer & Director

Dr. Willoughby is a mining engineer with 38 years of experience in all aspects of natural resources development. Since 2014, he has been principal and owner of consulting firm Willoughby & Associates, PLLC. Prior to that, he was President and COO of International Enexco Ltd., which was acquired by Denison Mines in 2014. He previously held various positions with Teck (Cominco). Dr. Willoughby has been a Professional Engineer since 1985 and received his Doctorate in Mining Engineering & Metallurgy from the University of Idaho in 1989.

Abraham (Braam) Jonker, CPA, CA

Chief Financial Officer

Mr. Jonker is an accomplished financial leader in the mining industry with almost 30 years of experience. Mr. Jonker has played a pivotal role in several business recoveries and restructurings, was a key team member in management and at the board level in the strategic growth of a number of public companies and has participated, raised and overseen the raising of more than $750 million in the form of equity and debt instruments in the mining industry. He is a registered Chartered Accountant in British Columbia, (Canada), England, Wales and South Africa. He is also a member of the Chartered Institute of Management Accountants in the United Kingdom and holds a Master’s degree in South African and International Tax from the Rand Afrikaans University, South Africa.

Spiros Cacos, MA

Vice President, Investor Relations

Mr. Cacos has over 20 years of investor relations experience working with public mining companies, ranging from early-stage exploration and development to production. Most recently, Mr. Cacos served as Vice President, Investor Relations for First Mining Gold, a Canadian gold development company listed on the TSX and OTCQX, focused on the development and permitting of the Springpole Gold Project, one of the largest undeveloped gold projects in Canada. His prior roles include serving as Vice President, Investor Relations for Group Eleven Resources Corp., a mineral exploration company focused on advanced stage zinc exploration in Ireland, and as Director of Investor Relations for Great Panther Mining Limited (formerly Great Panther Silver Limited), a primary silver mining company listed on the TSX and the NYSE with two mining operations in Mexico. Mr. Cacos holds a Master’s degree in International Relations and Diplomacy, from the Schiller International University in Paris, France, and a Bachelor of Arts Degree from Simon Fraser University in British Columbia, Canada.

Corby G. Anderson, PhD, CEng, FIMMM, FIChemE

Technical Advisor, Metallurgy

Dr. Anderson is a registered engineer with nearly 40 years of global experience in industrial operations, corporate level management, consulting, engineering design, research and education and is an expert in the fields of extractive metallurgy, mineral processing, waste minimization and recycling. He holds degrees of BSc in Chemical Engineering from Montana State University, MSc in Metallurgical…

Adam Knight, PE

Project Manager

Mr. Knight is a professional mining engineer, active in the mining industry since 1994. Before joining Cypress, he worked as a consultant and project manager for Practical Mining LLC of Elko, Nevada. He was Vice President Operations for EMC Metals Corp. until 2015. Prior to that, Mr. Knight worked in various operational capacities for Teranga Gold, Premier Magnesia, and AngloGold. He has experience…

Daniel W. Kalmbach, CPG

Manager, Geology

Mr. Kalmbach has practiced geology for over 21 years and has held various positions with private and public companies in the field of geology, including greenfield and generative exploration, development, mining, and environmental science. He has supported and/or authored multiple technical reports on mineral properties. Mr. Kalmbach began his career at Barrick Gold Corp. as a production geologist…

Todd S. Fayram

Technical Advisor, Metallurgy

Mr. Fayram brings over 30 years of metallurgical engineering experience to his role which include extensive diversified experience in the consulting and operating fields of various mining and milling operations across the globe. His industrial experience includes project and construction management; planning, design and engineering of precious and base metal heap leach and milling operations; industrial mineral development and operations, project evaluation for prefeasibility, feasibility and bankable documents; and metallurgical testing and interpretation of numerous mineral deposits. Mr. Fayram has also held positions in mine and process development, construction, expansion, start-up, and operation of numerous mines to include Minefinders-Dolores, American Bonanza Copperstone, Americas Silver-Cosala, Middle Tennessee Zinc-Gordonsville, Getty Copper Getty Project and others. Mr Fayram is a MMSA Qualified Professional in Metallurgy and holds a degree of Bachelor of Science degree in Mineral Processing Engineering and a Master of Science in Metallurgical Engineering from Montana Tech of the University of Montana.

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Cypress Development Announces $12 Million Bought Deal Financing

Cypress Development Announces $12 Million Bought Deal Financing

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

Cypress Development Corp. ( TSXV: CYP ) ( OTCQX: CYDVF ) ( Frankfurt: C1Z1 ) ("Cypress" or "the Company") is pleased to announce that it has entered into an agreement with PI Financial Corp. as the underwriter and bookrunner (the "Underwriter") pursuant to which the Underwriter has agreed to purchase, on a bought deal basis pursuant to a short form prospectus, 6,000,000 units (the "Units") of the Company at a price of $2.00 per Unit (the "Offering Price") for gross proceeds of $12,000,000 (the "Offering"). Each Unit shall consist of one common share of the Company and one common share purchase warrant (each, a "Warrant"). Each Warrant shall be exercisable for one common share of the Company for a period of 24 months from the Closing Date (as herein defined) at an exercise price of $2.65.

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CYPRESS DEVELOPMENT COMPLETES 7-DAY CONTINUOUS RUN AT ITS LITHIUM EXTRACTION PILOT PLANT AND EXTENDS LEASE AGREEMENT

CYPRESS DEVELOPMENT COMPLETES 7-DAY CONTINUOUS RUN AT ITS LITHIUM EXTRACTION PILOT PLANT AND EXTENDS LEASE AGREEMENT

TSXV: CYP | OTCQX: CYDVF

Cypress Development Corp. (TSXV: CYP ) (OTCQX: CYDVF ) (Frankfurt: C1Z1 ) ( " Cypress" or " the Company") is pleased to report the successful completion of a 7-day continuous run at the Company's pilot plant. During this period, the pilot plant operated at its designed feed rate of one ton per day of lithium claystone from the Company's Clayton Valley Lithium Project.

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CYPRESS DEVELOPMENT UPGRADED TO OTCQX BEST MARKET

CYPRESS DEVELOPMENT UPGRADED TO OTCQX BEST MARKET

Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ( " Cypress" or " the Company") is pleased to announce that it has qualified to trade on the OTCQX® Best Market.  The Company begins trading today on OTCQX under the symbol "CYDVF."  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .

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CYPRESS DEVELOPMENT PROVIDES CORPORATE UPDATE

CYPRESS DEVELOPMENT PROVIDES CORPORATE UPDATE

TSXV: CYP | OTCQ X : CYDVF

Cypress Development Corp. (TSXV : CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ( " Cypress" or " the Company") reports that since the closing of the purchase of Nevada water Permit 44411 (Certificate 13631) (the "Permit") from Intor Resources Corp., a subsidiary of Nevada Sunrise Gold Corp. ("Nevada Sunrise"), (see news release dated December 8, 2021 news release) the Company has learned that a petition was filed by a junior exploration company in the Nevada District Court for review of the Nevada State Engineer's approval of Intor's Application for Extension of Time to Prevent  Forfeiture of the Permit (the "Application").

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Cypress Development Completes Purchase of Permit for Water Rights in Clayton Valley, Nevada

Cypress Development Completes Purchase of Permit for Water Rights in Clayton Valley, Nevada

TSXV: CYP | OTCQB: CYDVF

Cypress Development Corp. (TSXV: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) ( " Cypress" or " the Company") is pleased to report it has completed the purchase of Permit 44411 and Certificate 13631 (the "Permit") from Intor Resources Corp., a subsidiary of Nevada Sunrise Gold Corp. ("Nevada Sunrise"). The remaining cash purchase consideration of US$2,000,000 and the title deed were released from escrow to the respective parties, along with Cypress shares in the value of US$850,000 issued to Nevada Sunrise, as the final component of the purchase consideration. The Permit is an essential piece of Cypress' strategy to develop its Clayton Valley Lithium Project in Nevada .

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Latin Resources

High‐Grade Results From Cloud Nine Halloysite‐ Kaolin Deposit

Latin Resources Limited (ASX:LRS)(“Latin” or “the Company”) is pleased to provide an update on the commencement of the 2022 site‐based exploration activities at the Cloud Nine Halloysite‐Kaolin deposit (“CloudNine”) in Western Australia.

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Albemarle Corporation Recognized in 2022 Bloomberg Gender-Equality Index

ALBemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today it is one of 418 companies across 11 sectors to be included in the 2022 Bloomberg Gender-Equality Index (GEI), a modified market capitalization-weighted index that aims to track the performance of public companies committed to transparency in gender-data reporting.

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Iconic Announces 2022 Work Program at Bonnie Claire Lithium Project

Iconic Announces 2022 Work Program at Bonnie Claire Lithium Project

Iconic Minerals Ltd. (TSXV: ICM) (OTC PINK: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") is pleased to provide an update on the 2022 mineral exploration and development plans for the Bonnie Claire Lithium Project (the 'Project' or 'Property'), located in Nye County, Nevada. The work plan is the culmination of discussions between the Company and its 50% partner in Bonnie Claire, Nevada Lithium Resources Inc. (CSE: NVLH; FSE: 87K) ("Nevada Lithium"). The approximately $5M USD work program has been fully funded by Nevada Lithium through its Property earn-in payments to Iconic, as part of the Option Agreement whereby Nevada Lithium obtained its 50% interest.

Iconic Minerals Ltd. CEO, Richard Kern, comments: "With funding in place and our Plan of Operation (PoO) filed with the BLM, the Company will complete a major expansion of its exploration and development program in 2022. The transition from resource to reserve and moving toward completion of a Pre-Feasibility Study (PFS) is a major step forward in defining this major Lithium deposit."

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Livent Announces Date for Fourth Quarter 2021 Earnings Release and Webcast Conference Call

Livent Corporation (NYSE: LTHM) today announced it will release its fourth quarter 2021 earnings on Thursday, February 17, 2022, after stock market close via PR Newswire and the company's website at: http:www.livent.com .

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Lake Resources NL Chairmans Address - Annual General Meeting

Sydney, Australia (ABN Newswire) - Ladies and Gentlemen, my name is Stuart Crow, I am a fellow shareholder and Non-Executive Chairman of Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF). I'm excited to report to you on the recent activity of your company, it's been a great year for Lake Resources!

The year has been one of significant achievement and growth for Lake as the transition to electrification of transport gathers pace globally, but not without the challenges arising from continued disruption due to the impacts of the global pandemic. Your company has performed well.

As we start 2022 the final numbers on EV sales are still being gathered but it has been reported sales of EV's globally has surpassed estimates and looks to be in the order of 6.5million vehicles, more than double 2020 numbers, with many new models due for release this in the next 12 months. Volume growth and demand looks to be rising although challenged by battery raw material shortages. Deficits are forecast to last well into the next decade as demand growth goes exponential and the supply response is muted and linear at best, providing an exceptional opportunity for your company as we look to advance our Kachi project toward production in 2024 and bring our three other lithium brine projects rapidly into development.

Activity in 2021 has set a very strong foundation for us in 2022, a year that will surpass any in the company's history in terms of growth and achievement to date.

In this year we intend to deliver the following outcomes for shareholders:

1) On-site demonstration plant, production of samples for potential off-takers (March)
2) Off-take (ongoing)
3) DFS, ESIA and permitting (Mid 2022)
4) Completion of project financing (Mid 2022)
5) Construction activities (H2/22)
6) DFS expanded to 50,000tpa (complete)
7) Production of High Purity Lithium Carbonate at Kachi (H2/24)
8) Expanded exploration activity & test work across three other projects (2022)

We finished 2021 in a very strong financial position having secured expressions of interest from UKEF and EDC for the project debt whilst having significant cash reserves at bank, deep in the money options to be exercised in June 2022 and a commitment from our technology partner to fund their share of project finance as we commence construction at Kachi.

We continue to advance offtake discussions with a growing number of potential partners and customers. The rising prices of lithium across global markets is delivering an exceptional opportunity for your company. Lake is now one of only a few remaining companies with near term production ambitions that remain independent, and we intend to remain so as supply chain issues come to the fore. With increased efforts underway to build out new home-grown supply chains across Europe and North America we see a significant opportunity to be a part of that growth. Lake's high purity product is highly sought after as audited sustainable supply chains become required to access significant government assistance in Europe and no doubt other parts of the world in time.

The ever-expanding gap between demand and supply has motivated your board to expand our DFS to 50,000tpa in recent times as part of an aspirational corporate target to deliver 100,000tpa or more of high purity sustainably produced lithium product to market by 2030. Your board is increasingly confident in delivering this target as Lake has the benefit of using Direct Lithium Extraction to extract the lithium from the brines that delivers much higher recoveries than traditional methods and it's also an extremely scalable process delivering a sustainable high purity product that is keenly sought by the market.

I would like to take this opportunity to thank shareholders for their continued support of their company with our fundraising efforts, the high participation of shareholders in the bonus options programs has set the company up for a very exciting future and its pleasing to see shareholders prosper as the company continues to grow. This year we have also welcomed a growing number of large institutional investors onto our register for the first time as well as a number of ESG funds and impact investors from international markets, we are pleased to have their continued support and interest in our projects.

Our company could not have achieved the growth and success it has over the last 18 months without a great team on the ground both in Argentina and here in Australia and my thanks to all employees, partners, consultants and bankers globally and of course my fellow board members for their commitment through very trying and disruptive times, I am truly grateful for your continued support and for the great work you do, thank you.

The year ahead, whilst challenging, I suspect will be the company's best year yet as we move into construction phase of the Kachi project and continued development of other projects.

I look forward with great anticipation, excitement, and pride as a founding shareholder as your company strives to become one of the world's leading suppliers of high purity lithium products.

Thank you.
Stuart Crow
Chairman
Lake Resources NL

To view the AGM Presentation, please visit:
https://www.abnnewswire.net/lnk/0NW381B3



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.

This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.



Source:
Lake Resources NL

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Green Technology Metals Logo

Green Technology Metals


Overview

Lithium prices have surged in the new year as an earlier than expected supply shortage, combined with the well-established battery and electrification thematic, fuels robust global demand. With only one operating lithium mine in North America, the United States has recognised its looming domestic lithium supply problem. In response, the National Blueprint for Lithium Batteries was developed to supply the rapidly growing EV market, support long-term U.S. economic competitiveness and meet national security requirements.

Already home to Electrovaya’s 200MWh facility in Ontario, Canada is considered a cornerstone of the battery supply chain and an important partner to the US. In recognition of this, UK-based Britishvolt and locally based Stromvolt are planning new gigawatt-hour scale cell manufacturing facilities in Canada. Naturally, companies with lithium projects proximate to growing downstream infrastructure present an interesting opportunity for investors.

Green Technology Metals Limited (ASX:GT1) is a mineral exploration company that recently listed on the ASX and is focused on the sustainable development of a portfolio of high-grade lithium projects in Ontario, Canada. The company’s current exploration program is targeting rapid and substantial expansion of what is already a significant resource base. Targeted future development of its lithium projects is focused on utilisation of regional low-carbon power sources, most particularly significant hydro power options. Green Technology Metals is led by a premier Board and senior management team with a track record of successfully delivering sustainable hard-rock lithium projects around the world.

Green Technology Metals

“We are perfectly located right in the beating heart of a growing North American battery ecosphere. You've got all of the downstream players nearby –– lithium converters and battery makers are popping up everywhere, said Green Technology Metals CEO Luke Cox.

Company Highlights

  • Portfolio of three highly prospective lithium projects located in Canada including an existing JORC Mineral Resource estimate at the Seymour Project of 4.8 Mt at 1.25% Li2O (2.1 Mt Indicated and 2.7 Mt Inferred).
  • Phase 1 11-hole 3,500m drilling program at Seymour underway and due for completion in March 2022. Assay results for the first completed step-out hole have returned a thick and continuous intercept of 40m @ 1.54% Li2O (from 244m downhole), confirming the company’s geological modelling and drill targeting.
  • A sustainability focused business with strong ESG credentials. Green Technology Metals is actively evaluating low-carbon energy solutions and is targeting access to the Hydro One hydro power interconnector, delivering responsibly sourced power to future development of its lithium assets.
  • The company is led by a proven hard-rock lithium team with a successful track record of project delivery, including John Young (founder of Pilbara Minerals Limited, ASX:PLS, Mkt Cap A$6.2bn), Cameron Henry (founder of Primero Group Limited, EPC and Operations contractor to Piedmont’s North American Lithium Hydroxide Plant) and Patrick Murphy (Managing Director AMCI Group, a specialist natural resources group).

Green Technology Metals Portfolio

The company’s portfolio consists of the Seymour, Root and Wisa Projects located in Ontario, Canada. The projects are ideally placed to supply spodumene concentrate to a range of future converters, both locally and within the United States. Existing resource and exploration targets are just the beginning of the lithium deposition potential across the company’s landholding. Management believes that limited historical exploration combined with high prospectivity represents very strong discovery and exploration upside potential.

Green technology metals

Seymour

The Seymour Project is located in Northwest Ontario, Canada. It is situated approximately 60 kilometers from the town of Armstrong and approximately 230 kilometers from the major town and port of Thunder Bay.

In the 1950s, regional exploration began on the property conducted by government geologists, which eventually delineated an Archean Greenstone Belt.

Seymour now holds a JORC Mineral Resource estimate of 4.8 Mt at 1.25% Li2O (2.1 Mt Indicated and 2.7 Mt Inferred). The resource is open both along strike and down dip.

The project also possesses a defined Exploration Target of 22 to 26 Mt at 0.8% to 1.5% Li2O, with 7 kilometers of strike identified. There are also numerous discrete pegmatite occurrences exposed at surface with rock chip samples returned lithium grades up to 4.54 Li2O.

Seymour

Through the second half of 2021 Green Technology Metals completed a significant initial work program including review of historical exploration, drilling and mining information to build a geological database and model of Seymour. In addition, new LIDAR, aerial photography, composite 3D mapping and geophysical surveying of the property was completed.

An 11-hole 3,500m drilling program at Seymour is now underway and due for completion in March 2022. Assay results from the first completed step-out drill hole have returned a thick and continuous intercept of 40m @ 1.54% Li2O (from 244m downhole), confirming the Company’s geological modelling and drill targeting. This result represents an excellent start to the program and delivers immediate potential for growth in the existing Seymour Mineral Resource estimate.

Green Technology Metals plans to provide an updated Mineral Resource estimate during Q2 2022, post completion of the current drilling program.

Seymour Project

Root

The Root Project is located in Northwest Ontario, Canada. It is situated near the town of Slate Falls and approximately 300 kilometers from Thunder Bay.

Green Technology Metals has the rights to patented claims and a mining lease over the McCombe area, which hosts a dense pegmatite swarm. The pegmatite swarm was identified with implicit modelling and features significant grades and widths of up to 20 meters thick

The Root Project has a defined 4.8 kilometer Exploration Target of 20 to 24 Mt at 0.8% to 1.5% Li2O. Historical drilling confirmed depths greater than 100 meters. It also hosts four prospects with outcropping pegmatites offering walk-up drill targets.

Root Project

Wisa

The Wisa Project is located in Northwest Ontario, Canada. It is situated 8 kilometers from the US border and approximately 100 kilometers from the town of Fort Francis in the US. The project spans 18.9 square kilometers and is accessible by an established all seasons road that is 40 kilometers from the Trans-Canada Highway.

The Wisa Project is historically underexplored and has a defined Exploration Target of 8 to 10 Mt at 0.8% to 1.5% Li2O, which is supported by exploration results. The project hosts a primary pegmatite with widths exceeding 20 meters and a 1.5 kilometer corridor of mapped surface exposed pegmatite occurrences.

Wisa Project

Board and Management Team

John Young - Chairman

John Young is a highly experienced geologist. Young was a co-founder and executive director of Pilbara Minerals Limited (ASX: PLS) which is a successful ASX200 lithium producer. Young played a critical role in growing Pilbara from a junior ASX-listed company to a globally significant $2 billion lithium producer in the Pilbara region of Western Australia. Young currently serves as a non-executive director of ASX-listed Bardoc Gold Limited, Trek Metals Limited and RareX Limited.

Cameron Henry - Non-Executive Director

Cameron Henry is the founding managing director of Primero Group Limited, an engineering and construction contractor which holds globally recognised expertise in lithium processing and operations. At Primero Group, he led the company’s strategic and operational direction resulting in its successful listing on the ASX in 2018 and rapid growth globally.

He has been instrumental in positioning Primero Group to grow within the resources sector as a leader in sub-$300 million CAPEX EPC projects. His contribution includes ensuring Primero Group can differentiate its services offering across design, construction and operation. Primero Group now operates in several regions globally with annual revenues of approximately A$400 million.

Henry has over 20 years of industry experience in the development and delivery of minerals processing, energy and infrastructure projects across Australia, Indonesia and North and South America.

He has been a member of the Australian Institute of Company Directors since 2013. He has also previously held non-executive roles with ASX-listed resource company Titan Minerals Limited.

Patrick Murphy - Non-Executive Director

Patrick Murphy is a managing director at AMCI which is a specialist natural resources group. AMCI is a highly successful and fully integrated global business with exploration, development, production, processing, logistics and marketing expertise, inclusive of substantial bulk materials interests.

Murphy is an experienced mining investment professional. He has spent 13 years at AMCI and the global investment group Macquarie. He has specialized in deploying capital in the raw materials and mining industries for his entire career and is head of AMCI's iron ore business.

Murphy has global experience and a proven pedigree in identifying and successfully executing value-enhancing initiatives in the industry. He holds board positions for several AMCI companies.

Robin Longley – Non-Executive Director

Robin Longley is a geologist with extensive experience in global resources across the gold, nickel, cobalt, lithium and iron ore sectors. His experience includes the role of Managing Director at Helios Gold Limited. Before that, Longley was the general manager of geology for Sundance Resources in Africa from 2007 to 2015.

Longley has an impressive track record of successfully managing and executing exploration programs in a range of different locations. Longley has also delivered progressive results and mineral resources to bring shareholder value and underpin the development of mineral projects.

Longley is well-respected in the industry for his professional integrity, resource growth achievements and commercial leadership.

Longley is the managing director and CEO of Ardiden Limited.

Luke Cox - Chief Executive Officer

Luke Cox is a Professional Geologist and mine manager who has worked in the mining industry for over 25 years. His experience has encompassed exploration, mining and mining finance. Cox’s experience ranges across an extensive range of commodities, including nickel, cobalt, lithium, gold, iron ore and diamonds.

Cox has been involved in developing a considerable number of mineral deposits, including Murrin Murrin, Mlibizi, Mali Green, Binduli, Davyhurst, Francis Creek, Edna May, Greenfinch, Carina, Wodgina and Sunrise. Cox has also been involved in all stages of development from exploration to project feasibility, financing, mine development and operations.

Cox has worked in Europe, Africa, North and South America, the United Kingdom and Australia. He has been an integral part of the owners’ teams of numerous LSE, ASX, TSX-listed exploration and mining companies. Cox has worked extensively with these companies at both the board and executive levels. He also has significant experience in technical and commercial diligence with off-take customers, mining companies and investment groups.

Matt Herbert - General Manager North America

Matt Herbert is a multi-commodity geologist with more than 20 years of experience in mining, processing and rail that spans Australia and PNG. This experience includes start-ups, expansions and end-of-life mining environments.

He has a proven track record in high-intensity and large-scale operations with companies such as Rio Tinto and Fortescue Metals where he has undertaken management roles across the integrated supply chain.

Herbert is a well-respected member of the West Australian mining community.

Joel Ives - Chief Financial Officer and Company Secretary

Joel Ives is a finance and business advisory executive that specialises in CFO, accounting, and company secretarial services. Ives also specialises in mergers and acquisitions for private companies and ASX-listed and public small-cap companies across various industries.

Ives currently acts as the company secretary to Harvest Technology Ltd. (ASX:HTG), DigitalX Limited (ASX:DCC), Kuniko Limited (ASX:KNI) and OliveX Holdings Limited (NSX:OLX).

John Winterbottom - General Manager Technical Services

John Winterbottom is a professional geologist with over 25 years of experience in mining and exploration. His experience spans a large range of hard rock commodities, including gold, base metals, laterite nickel/cobalt and iron ore in both open-pit and underground settings. He has managed mining and exploration teams from junior to mid-tier companies. Winterbottom has experience transitioning projects from greenfield concept targets through advanced exploration, PEA, PFS, DFS, project development and operation.

Winterbottom has experience in Africa, Canada and Australia in a wide range of geological settings and deposits, including Fosterville (Kirkland Lake Gold), Rosebery (MMG), Dikilushi (Mawson West), Mt Rawdon (Evolution), Cracow (Evolution), Edna May (Evolution), Frances Creek (Territory Resources), Murrin (Minara Resources), the Superpit (KCGM) and Golden Grove (Newmont).

Winterbottom has extensive experience in ASX and TSX-listed companies. He has worked closely with executive teams and boards to maximize shareholder returns.

Andrea Johnstone - ESG and FN Manager

Andrea Johnstone has more than 10 years of experience in environment and governance compliance across large-scale mining operations that span Australasia and the Americas.

She has a deep knowledge of regulatory protocols required for start-up, steady-state and closure mining requirements. She brings with her a diverse range of experience, including approvals, setting up governance frameworks and managing operational compliance. During her career, she has continued to nurture strong stakeholder relationships in local indigenous communities. Johnstone has also fostered harmonious outcomes for mining companies and First Nations groups.

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