Increase In Ground At The Gorge Lithium Project In Canada

HIGHLIGHTS

• 5 New Claims totalling ~22.2km2 have been secured at the Gorge Lithium Project.
  
• The new claims increase the Gorge Project land size from ~20.8km2 to ~43.0km2.
• The increase in the landholding in the highly prospective area solidifies BMM’s presence in the increasingly competitive lithium province.
• BMM expects to update the market on the ongoing work program at Gorge Lithium Project shortly.

The newly staked claims are positioned directly to the north and east of the existing Gorge Project area. While exploration is limited across the newly staked claims, the Company is well placed to continue a larger and scalable exploration program over the entire area.

The Gorge Lithium Project is located approximately 215km to the northeast of the City of Thunder Bay. The Project comprises of 12 active multi-cell mining claims covering a total area of approximately 43km2 and is located within the larger Georgia Lake pegmatite district which hosts potential for the discovery of lithium bearing pegmatites.

The Project area is accessible by bitumenised highways and dirt roads from Thunder Bay, proximate to railway networks with an international airport located at Thunder Bay. The Port of Thunder Bay is a major facility that ships several commodities and general cargo via the Great Lakes.

The second phase of the work program has neared completion, and the company expects to update the market on these activities shortly.

TANGO LITHIUM PROJECT UPDATE

An airborne magnetic survey has been completed by BMM over the entire Tango Lithium project area. Magnetics are used to assist with identifying lithological contacts and structures. Although a geophysical survey will not identify a pegmatite dyke, it will identify preferential structures and trends that assist in determining targets for the second phase of the ground-work program. The results and analytical study of this survey are expected in approximately six weeks.

Analytical results from the field work program announced on 8 November 2022 are expected in mid November.

Managing Director, Ross Cotton, commented:

“The addition of the new claims adds significant scale to the prospective Gorge Project and demonstrates our capacity to move fast and secure locations in a highly competitive environment.”

“We look forward to updating investors on the progress of our work program at not only Gorge, but also the recently optioned Tango Project.”

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