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Imagine Lithium INC. (TSXV: ILI,OTC:ARXRF) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce a strategic land acquisition in the prolific Georgia Lake Pegmatite Field (GLPF), increasing its overall prolific exploration area by 45% at its 100%-owned Jackpot Lithium Project, located near Thunder Bay, Ontario, Canada. The addition of the 'SPOD Lithium Option' of 8,449 ha brings the total land package held by Imagine to a total of 27,597 ha of prospective geology in the GLPF.
The addition of the 'SPOD Option Claims' creates a continuous land position between the NI 43-101 compliant Jackpot deposit and Rock Tech Lithium's Nama Creek deposit to the north, representing a strategic land acquisition that strengthens Imagine's exploration footprint moving forward (Figure 1).
Simone Suen, President of Imagine, stated: "We are pleased to announce the acquisition of a substantial land package for our Jackpot Project, consolidating significantly more prospective ground and positioning Imagine Lithium as the largest land holder in the Georgia Lake region. This expansion enhances synergies with Rock Tech Lithium's Nama Creek Project and strengthens Imagine's ability to advance our Mineral Resource inventory, currently at 3.1 Mt indicated and 5.3 Mt inferred (with grades of 0.85% and 0.91% Li2O, respectively). The outcome of the 2025 field season continue to refine our exploration model for the belt, underscoring the value of methodical exploration in identifying new deposits. Access to nearby infrastructure, ports, and a skilled workforce further supports the potential to bring Ontario's first lithium deposit into production."
Under the terms of the agreement, effective December 5, 2025, Imagine Lithium agrees to purchase 100% undivided right, title and interest in the North Nipigon Lithium Property from Spod Lithium Corp, hereby called the 'Spod Lithium Option' (Figure 1). Upon execution of the agreement, the 18 multi-cell mineral claims will be purchased for an aggregate cash payment of CAD$30,000. The claims are subject to a 2% net smelter royalty (NSR) which will be held by Jadeite Capital Ltd.
Figure 1. Jackpot Lithium Project map showing the Jackpot deposit, Nama Creek deposit and 'SPOD Lithium Option' boundary.
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The addition of this strategic land package compliments future exploration plans and highlights the discovery potential for multiple open-pit, hard-rock lithium deposits in the Georgia Lake Pegmatite Field. The previously announced mineral resource estimate (see September 3, 2024 News Release) on the Jackpot Project outlines two conceptual pit shells – Jackpot and Casino Royale – both exhibiting good grade continuity and strong potential for resource expansion. The resources remain open along strike and to depth.
RESOURCE HIGHLIGHTS – NI 43-101 MINERAL RESOURCE ESTIMATE
- Indicated Resource: 3.1 Mt grading 0.85% Li₂O (26,200 t contained Li₂O)
- Inferred Resource: 5.3 Mt grading 0.91% Li₂O (49,500 t contained Li₂O)
- Cut-off Grade: 0.30% Li₂O (pit-constrained)
- Recovery: 81.5% Li₂O, based on SGS metallurgical testing
- Bulk Density: 2.69 t/m³
- Estimation Method: Inverse distance squared (ID²) on 2 × 2 × 2 m blocks
- Effective Date: September 3, 2024; prepared by P&E Mining Consultants Inc.; technical report filed October 18, 2024.
METALLURGICAL TEST WORK
The early metallurgical results demonstrate that Jackpot mineralization can yield a high-grade spodumene concentrate suitable for the lithium battery supply chain.
- Metallurgical testing was conducted by SGS Lakefield (2022–2023) on a 200 kg composite sample grading 1.72% Li₂O and 0.29% Fe₂O₃.
- Heavy Liquid Separation (HLS) produced a 6.0% Li₂O spodumene concentrate with 81.5% Li₂O recovery, and a concentrate iron content of 0.76% Fe₂O₃, without magnetic separation.
- Additional optimization through dense media separation (DMS) and flotation is expected to further enhance recovery and concentrate grade.
- The Company adopted the 81.5% recovery figure within the MRE cut-off assumptions.
Grant of Options
Imagine further announces that it has granted 7,200,000 options to an officer and director of the company exercisable at $0.05 for a period of 5 years from the date of grant. The options have been granted in accordance with the Company's stock option plan.
Qualified Person
The technical content of this news release was reviewed and approved by Jason Arnold, P.Geo., an Independent Qualified Person as defined by the National Instrument 43-101.
About Imagine Lithium Inc.
Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The Jackpot Property consists of 297 mineral claims covering 18,800 hectares. The Property contains NI 43-101 compliant Mineral Resources of 3.1 Mt grading 0.85% Li2O in the Indicated category and 5.3 Mt grading 0.91% Li2O in the Inferred category, as well as a number of other known pegmatite showings.
ON BEHALF OF THE BOARD
"Simone Sze Man Suen"
Simone Sze Man Suen, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: +1-807-355-5405
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca).
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