International Lithium: PEA for the Raleigh Lake Lithium Project Outlines Highly Favourable After-Tax NPV  of CAD$342.9 million and After-Tax IRR of 44.3% P.A.

International Lithium: PEA for the Raleigh Lake Lithium Project Outlines Highly Favourable After-Tax NPV of CAD$342.9 million and After-Tax IRR of 44.3% P.A.

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce a positive Preliminary Economic Assessment(" PEA") for a proposed lithium mining operation to produce spodumene concentrate at Raleigh Lake, 25 kilometres west of Ignace, Ontario. The PEA relies on recent metallurgical test work (Phase 1) which indicates that a spodumene concentrate containing 6% Li2O ("SC6") can be produced using a simple crushing circuit and heavy liquid separation techniques. In the Phase 1 tests lithium recoveries were above 81% while iron oxide content remained within acceptable limits. As originally foreshadowed, the very near proximity of Raleigh Lake to existing service infrastructure along the Trans-Canada Highway corridor affords significant logistical and economic advantages to the project.

This PEA only considers spodumene concentrate, i.e. lithium, as a revenue source. The Company continues to investigate the potential value associated with the extraction of rubidium from the microcline zone within the spodumene deposit.

PEA Highlights

Economics (discounted at 8% p.a., CAD$)

  • Pre-tax Cashflow = CAD$709.4 million, NPV = CAD$385.1 million, IRR = 46.5% p.a.
  • After-tax Cashflow = CAD$634.0 million, NPV = CAD$342.9 million, IRR = 44.3% p.a.
  • Price assumptions: CAD$3,139/tonne for 6% Li2O concentrate (USD$2,325/tonne)

CAPEX/OPEX

  • Total pre-production capital costs: CAD$111.9 million
  • Total sustaining capital: CAD$17.5 million
  • Total life of mine ("LoM") operating costs: CAD$381 million (including concentrate transport)
  • Average operating costs: CAD$94.38/tonne milled, CAD$993/tonne SC6

Mining Method

  • Traditional open pit drilling and blasting followed by load and haul
  • The plant feed production rate is proposed to be 540,000 tonnes per year ("tpy")
  • This LoM mine plan is proposed to mine 57 million tonnes ("Mt") of material over the mine life, which will be comprised of 4Mt of mill feed and 53Mt of waste with an average strip ratio of 13.2:1
  • Life of mine is forecast at nine years; project duration is 11 years

Process Plant

  • The base case process plant is designed to crush 1,500 tonnes per day ("tpd") and process 1,500 tpd in a dense media separation ("DMS") plant to produce a nominal 56,000 tpy of 6% Li2O at 81% recovery
  • Process engineering and design were developed to a scoping level based on the results of the SGS laboratory testing. The SGS lab tests obtained 22.9 weight percentages of 6% Lithium Concentrate and estimated 81% lithium recovery
  • A design factor of 10% is applied on nominal requirements to ensure that the process equipment has enough capacity to take care of the expected feed variation
  • Total production for LoM is 414,904 tonnes of 6% Li2O spodumene concentrate ("SC6")

Raleigh Lake is 100% owned by ILC and there are no overriding royalties. The Company's vision for Raleigh Lake is a low-risk, low-impact, small-scale mining operation that can begin to provide critical minerals necessary to fulfil Canada's Critical Mineral Strategy in a shorter time frame than would be required for a much larger scale, longer duration and more remotely located project. Revenues from the mine production would continue to feed back into exploration work to expand ILC's drive to become a significant Critical Minerals supplier in North America.

Executive Comment

John Wisbey, Chairman and CEO of ILC commented:

"It is very pleasing for ILC to have delivered its first PEA at Raleigh Lake, Ontario with highly respectable numbers of CAD$385.1 million pre-tax NPV and 46.5% IRR (post-tax CAD$342.9 million and 44.3% IRR) despite the significant fall in the lithium price this year. This reflects, to a considerable extent, our good access to infrastructure at Raleigh Lake, which has a very beneficial effect on our projected costs. It should be noted that this PEA only relates to the 600 hectare Zone 1 out of our 48,500 hectares of claims at Raleigh Lake. It is also important to note that at this stage these numbers only relate to the lithium at Raleigh Lake and not to the separately declared rubidium resource. Given the high market price of rubidium, this leaves appreciable upside.

This year's fall in the lithium price has of course depressed these numbers versus what they would have been only a few months ago. For example, a major Canadian lithium company produced a feasibility report in August 2023, using a price assumption of USD$ 4,699 (CAD$6,109) per tonne for 6% spodumene concentrate. Had we applied this same number to the spreadsheet that ERM have used for ILC's PEA, our own NPV would have been CAD$1,137 million pre-tax and CAD$906 million post-tax. These numbers are more than 2.6 times the NPV numbers that we are now reporting. Of course, what this means is that, as for every mining company, there is a high level of operational gearing in our business. It is also very important that, when comparing different companies in the sector, investors and analysts compare like price assumptions with like.

The omission of rubidium from this initial PEA reflects the fact that we and our consultants need to do more work on the real size of the rubidium market. Our measured and indicated contained tonnes of rubidium at Raleigh Lake are 822 tonnes and the inferred 521 tonnes. The market price for >99% rubidium carbonate as at end November 2023 was USD$ 1,159.38 per kg, meaning USD$ 1.16 million per tonne. However, if world annual demand for rubidium is and remains much smaller than our resource there, our ability in future to sell at the rate we can produce would be affected, as could the market price."

PEA Summary

Environmental Resource Management ("ERM") was retained by International Lithium Corp. ("ILC" or the "Company") to prepare a Preliminary Economic Assessment ("PEA") in accordance with National Instrument 43-101 (NI 43-101) for the Raleigh Lake Project (the "Project") located near Ignace, Ontario, Canada.

The Raleigh Lake Project is roughly 25 kilometres west of Ignace and 235 kilometres west of Thunder Bay in the northwestern part of Ontario within the Kenora Mining District. It is adjacent to the Trans-Canada Highway (Hwy 17) with CN Rail, TC Energy natural gas pipeline and Hydro One 235kV power lines transcending the Property. It is owned 100% by International Lithium Canada Ltd., a 100% owned subsidiary of ILC. There are no royalties or other encumbrances on the Property.

ILC identified the opportunity at Raleigh Lake in 2016 but did not begin actively pursuing work on the project until 2021 when an initial test drilling campaign was conducted along with regional lithogeochemical sampling. In 2022 the Company completed sufficient drilling to define a maiden Mineral Resource Estimate ("MRE") with resources reported in the measured, indicated, and inferred categories (see below and Company press releases dated March 1 and April 13, 2023). Upon analyzing the MRE the Company embarked upon some initial metallurgical and economic studies that culminated in the results presented here. It is the Company's opinion that the results to date provide a good basis to pursue a mining operation at Raleigh Lake and such an operation can be considered low impact due to the existence of well-developed and utilized infrastructure and the path to environmental permitting and eventual production would be shorter than if the project were to be more remotely located. The entire operation could be significantly more sustainable than remote operations and have direct economic benefits for the nearby and surrounding communities.

The proposed open pit mining operation would extract 57Mt of material over the mine life, which will be comprised of 4Mt of mill feed and 53Mt of waste with an average strip ratio of 13.2:1. The proposed PEA level mine plan is based around work at a proposed plant feed production rate of 540,000 tpy producing a total of 414,904 tonnes of SC6 concentrate over the mine life. The average mill feed grade is 0.70% Li2O (Table 1).

Table 1: Summary of Base Case Cash Flow Modelling and Project Financial Analysis.

ParameterValueUnit
Project Schedule
Overall project life11years
Mine life9years
Mining, Processing and Economic Parameters
Total mill feed4.4Mt
Average mill feed grade0.70% Li2O
Open pit mining rate1,500tpd
Process recovery81.0%
Total concentrate produced - 6% TG Li2O414,904T
Commodity price - 6% TG Li2O$2,325USD/t
Exchange Rate1.35CAD/USD

 

A summary of the base case capital and operating costs calculated and used in the economic analysis exercise is shown in Table 2 below. Total costs are based on unit cost rates per tonne mill feed multiplied by the total tonnes of mill feed (4.37Mt).

Table 2: Summary of Base Case Capital and Operating Costs.

ParameterValueUnit
Unit Operating Costs -Production Phase
Mining CAD$3.55 /t mined
Mining CAD$40.98/t mill feed
Milling CAD$28.53/t mill feed
G & A CAD$17.74/t mill feed
Concentrate transportation CAD$7.13/t mill feed
Total CAD$94.38/t mill feed
Project Operating and Sustaining Capital Costs
Total operating costsCAD$381.0 million
Total sustaining capital costsCAD$17.5 million
All operating and capital costsCAD$398.6 million

 

A summary of the base case revenues used in the economic analysis exercise is shown in Table 3 and a summary of the pre- and post-tax economic analysis results is shown in Table 4.

Table 3: Summary of Base Case Revenues.

ParameterValue
Project Revenue, Profit and Pre/Post Tax Cash Flows
Concentrate sales revenue CAD$1,302.3 million
Concentrate transportation costs CAD$31.1 million
Net operating revenue CAD$1,271.2 million
Operating and sustaining capital costs CAD$398.6 million
EBITDA CAD$872.6 million
Payable taxes CAD$75.5 million
Net profit after taxes (NPAT) CAD$797.1 million
Total pre-production capital costs CAD$163.1 million

 

Table 4: Summary of Pre- and Post-tax Economic Analysis Results.

ParameterValueUnit
Economic Analysis Results
Discount Rate8.0% p.a.
Pre-Tax Cashflow$709.5CAD$ million
Pre-Tax NPV$385.1CAD$ million
Pre-Tax IRR46.5% p.a.
Post-Tax Cashflow$634.0CAD$ million
Post-Tax NPV$342.9CAD$ million
Post-Tax IRR44.3% p.a

 

Resource Estimate

The MRE for the Raleigh Lake project that the current PEA study was based on was produced by Nordmin Engineering Ltd. ("Nordmin"), based in Thunder Bay, Ontario, who prepared an independent lithium (spodumene-hosted) and rubidium (microcline-hosted) MRE for the Project and Technical Report, "NI 43-101 TECHNICAL REPORT AND MINERAL RESOURCE ESTIMATE FOR THE RALEIGH LAKE LITHIUM PROJECT, IGNACE, ONTARIO" (the " MRE Report") consistent with the standards and guidelines set out by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") and in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

In preparation of the MRE and MRE Report, Nordmin applied processes that were appropriate for lithium pegmatite-style deposits. The Report is available on SEDAR. The effective date for the Report was April 13, 2023.

Detailed summaries of the MRE Report can be found in Company news releases dated March 1 and April 13, 2023. A tabulated listing of the MRE for both lithium in spodumene and rubidium in microcline is given in Table 5 and Table 6 respectively.

Table 5: Lithium Open Pit and Underground MRE.

AreaResource CategoryMass (kt)GradeContained
Li (t)
Li (ppm)Li2O (%)
Open Pit

650ppm
Li Cut-off
Measured803,8870.84% 313
Indicated2,0212,9190.63% 5,897
Measured + Indicated2,1012,9560.64% 6,210
Inferred 3,2472,5950.56% 8,427
Underground

2,000ppm
Li Cut-off
Measured32,5600.55% 8
Indicated1893,2030.69% 606
Measured + Indicated1923,1920.69% 614
Inferred6553,1620.68% 2,073
Total

Measured + Indicated2,2932,9760.64% 6,824
Inferred3,9022,6910.58% 10,499

 

Refer to notes on Mineral Resources below.

Table 6: Rubidium Open Pit and Underground MRE.

AreaResource CategoryMass (kt)GradeContained
Rb (t)
Rb (ppm)Rb2O (%)
Open Pit

4,000ppm
Rb Cut-off
Measured 5 5,412 0.59% 29
Indicated 90 6,073 0.66% 547
Measured + Indicated 95 6,036 0.66% 576
Inferred 18 3,005 0.33% 53
Underground

4,000ppm
Rb Cut-off
Measured 5 6,547 0.72% 35
Indicated 33 6,474 0.71% 211
Measured + Indicated 38 6,484 0.71% 246
Inferred 106 4,427 0.48% 468
TotalMeasured + Indicated 133 6,163 0.67% 822
Inferred 123 4,224 0.46% 521

 

Refer to notes on Mineral Resources below.

Notes on Mineral Resources

  1. The MRE was prepared by Christian Ballard, P.Geo., of Nordmin, who is the Qualified Person ("QP") as defined by NI 43-101 and is independent of ILC.
  2. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The above Inferred Mineral Resources are subject to potential upgrade to Indicated and Measured Mineral Resources with continued drilling. There is no guarantee that any part of the Mineral Resources discussed herein will be converted to another category or to a Mineral Reserve in the future. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues.
  3. The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum standards on Mineral Resources and reserves, definitions, and guidelines prepared by the CIM standing committee on reserve definitions and adopted by the CIM council (CIM 2014 and 2019).
  4. The MRE is developed with data from diamond drill holes totaling 13,821 m.
  5. The pit constrained mineral resources were defined using a parented block model, within an optimized pit shell with average pit slope angles of 45° in rock and 30° in overburden, a 9.8 strip ratio (waste material: mineralized material) and a revenue factor of 1.0. The pit optimization shells were created using Deswik.AdvOPM software.
  6. The lithium resource pit optimization parameters include: 5.5% Li2O spodumene concentrate; US$1,800 Li2O spodumene concentrate price; exchange rate of CAD$1.30/USD$1; concentrate transportation and offsite charges of CAD$175/t, mining cost of CAD$6/t, processing plus general and administration cost of CAD$41/t; and a process recovery of 75%. Only lithium value was used to generate the resource optimized pit shell.
  7. Underground constrained mineral resources were defined within 5 x 5 x 5 m minable shape optimization wireframes. The mineable shape optimization constraining wireframes were created using Deswik.SO software.
  8. The lithium resource underground minable shape optimization parameters include: 5.5% Li2O spodumene concentrate; US$1,800 Li2O spodumene concentrate price; exchange rate of CAD 1.30/USD 1; concentrate transportation and offsite charges of CAD$175/t, mining cost of CAD$80/t, processing plus general and administration cost of CAD$50/t; and a process recovery of 75%.
  9. The rubidium resource was constrained above market value due to the current limited world market. A 4,000 ppm rubidium cut-off grade was selected. The rubidium resource was excluded from (i.e. neither taken into account nor used as a credit for) the underground and open pit lithium resource.
  10. A default density of 2.668 g/cm3 was used for the mineralized zones.
  11. All figures are rounded to reflect the relative accuracy of the estimates; totals may not add correctly.
  12. The effective date of the MRE was February 16, 2023. The effective date for the MRE Report was April 13, 2023, and is available on SEDAR.

Preliminary Economic Assessment

The Project:

  • Is 100% owned by ILC and is not subject to any off-take agreements, partnerships, or royalties.
  • Consists of 48,500 hectares (485 square kilometres) of adjoining mineral claims.
  • Is located approximately 25 kilometres west of the Township of Ignace, Ontario.
  • Distinguishes itself from other lithium projects in Canada by being very well situated near to major public infrastructure, including:
    • The Trans-Canada Highway, with direct access to Thunder Bay on Lake Superior, is less than six kilometers north of the Project;
    • The Canadian Pacific Railway, natural gas pipelines, and Hydro One power transmission lines (115 and 230 kV) are just a few kilometres from the Project.

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Figure 1: Major public infrastructure relative to the Raleigh Lake project.

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Mining Methods

The mining method selected for this project will use traditional open pit drilling and blasting followed by load and haul. The primary mining production will be executed using hydraulic excavators, front shovels, and/or wheel loaders as appropriate to the terrain and depending on the major production equipment available for the project. The material will be hauled from the bench to the crusher, ROM stockpiles or waste dump depending on the material type. Furthermore, ancillary equipment, such as bulldozers, graders, and a range of vehicles, is employed to perform functions related to maintenance, support, services, and utilities.

The proposed PEA level mine plan is based around work at a proposed plant feed production rate of 540,000 tpy.

This LoM mine plan is proposed to mine 57Mt of material over the mine life, which will be comprised of 4Mt of mill feed and 53Mt of waste with an average strip ratio of 13.2:1 (Table 7).

The open pit created for the Raleigh Lake deposit covers about 800 metres in length and 450 metres in width at the surface (Figure 2). The pit's lowest point extends to a depth of 330 metres above sea level, while the entrance to the pit is positioned at 475 metres above sea level. The pit incorporates two entrance ramps, with the first granting access to the southern section of the pit and the second facilitating entry to the northern part.

The approach selected for the storage of tailings generated at the concentrator and the waste rock from the mine will be co-disposal. This co-disposal method involves containing filtered tailings within designated waste rock cells. This approach offers the benefit of enhancing overall stockpile stability and the efficiency of water drainage. The primary goal is to guarantee long-term physical and geochemical stability.

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Figure 2: General arrangement of the mine site layout for Raleigh Lake showing the final open pit (right) and co-disposal facility (left).

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Table 7: Proposed mine production schedule for Raleigh Lake.

Project Year-1123456789Total
Mill Feed (tonnes)54,037324,183539,881540,107539,899539,895540,305539,713540,312208,7214,367,053
Measured (tonnes)005,56606,33827,85408,92723,5842,72574,994
Indicated (tonnes)20,659112,928365,731298,367265,030250,93941,048152,832278,257115,9901,901,781
Inferred (tonnes)33,378211,254168,584241,741268,531261,103499,257377,954238,47190,0052,390,278
Grade Li2O (%)0.670.670.710.940.830.790.490.540.680.650.70
Measured (Li2O%)0.000.000.300.000.631.190.001.130.780.660.92
Indicated (Li2O%)0.470.510.700.930.670.750.470.630.670.580.70
Inferred (Li2O%)0.790.750.750.940.990.790.490.480.680.750.70
Waste (tonnes)7,572,4258,641,7318,930,4229,147,1778,855,0244,651,4762,979,4491,530,607864,285509,62653,682,222
Concentrate (tonnes)034,19451,82868,32160,53257,72635,66838,98849,32318,324414,904

 

Mineral Processing

The Raleigh Lake Orebody contains two metallurgical domains, the lithium spodumene domain and the rubidium microcline domain. These two separate domains represent zones in the Raleigh Lake orebody that require customized process flowsheets to be developed for each zone. For the lithium domain, the objective is the recovery of spodumene to 6% Li2O concentrate grade, while the rubidium bearing microcline domain objective is to develop a flowsheet for extraction of the rubidium from the microcline.

The current focus was to perform mineralogy and mineral processing testing to develop the flowsheet for the lithium zone (Li-Head) and do a literature review to begin to investigate the flowsheet development of the rubidium zone (Rb Head). Samples of the lithium and rubidium domains were sent to SGS Canada in August of 2023, to perform phase one mineralogy tests with follow-up mineral processing testing and literature review. The Li Head and Rb Head were collected from the Raleigh Lake Deposit and were received by the SGS Lakefield Canada Advanced Mineralogy Facility for mineralogy. Mineralogy was conducted to determine liberation, mineral assemblages which would help to support and guide the metallurgical test work.

The lithium Li head sample assayed 1.59% Li2O and 0.56% Fe2O3, while the rubidium head sample graded 6,580 g/t Rb (equivalent to 0.72% Rb2O) with 0.12% Li2O and 0.24% Fe2O3.

The main objective of the phase one scoping level mineral processing test investigation was to provide a preliminary indication of the lithium beneficiation of the Li head by heavy liquid separation (HLS).

The metallurgical target was the preparation of spodumene concentrate grading >6.0% Li2O while maximizing lithium recovery.

The pegmatite Li Head sample was initially stage-crushed to 100% passing 12.7 mm, homogenized, and split into 10 kg test charges. One of the 10 kg charges was sub-sampled 500 g for head assays and the remaining was screened at 16 mesh to remove the -1 mm fraction for mineralogy.

From the 10kg charges, the minus 12.7 mm +1 mm fraction was further screened at 1⁄4" (6.3 mm) to generate two fractions of -12.7 mm +6.3 mm and -6.3 mm +1 mm. The two coarse fractions, -12.7 mm +6.3 mm and -6.3 mm +1 mm, were submitted for Heavy Liquid Separation (HLS) testing.

The HLS testing results at SG 2.85, 6.0% Li2O concentrate grade of 14.9 weight % with global lithium recovery of 53.0% was obtained in the fraction of -12.7 mm/+6.3 mm.

The HLS Testing results interpolated to SG 2.83, a 6.0% Li2O concentrate grade of 8.0 wt% with a global lithium recovery of 28.5 % was obtained in the -6.3 mm/+1 mm fraction.

Combining the 6% Li2O concentrates from the two fractions of -12.7 mm/+6.3 mm and 6.3 mm/+1 mm (highlighted in cyan in Table 8) generated a combined global lithium recovery of 81.5%.

Above a tailings SG-cut point of 2.70, the HLS middling from each sample contained between 1.27 - 1.69% Li2O with 2.3 - 8.2% of the global lithium distribution. Therefore, the HLS middling can potentially be stage crushed then mixed with the minus 1 mm fines fraction to produce a flotation feed (or gravity feed) grading 1.19 % Li2O and 0.59% Fe2O3.

The combined HLS middling and fines fraction contained 16.2% of the lithium distribution graded 1.19% Li2O. This is potential feed for a roll crusher and screening, for flotation feed, or a ultrafines DMS gravity circuit to increase the lithium recovery.

The grade of iron in the spodumene concentrate was ~1% Fe2O3, which is acceptable, however, this would likely be reduced by treating the concentrate by magnetic separation.

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Table 8: Summary of HLS Global Mass Balance (Interpolated @ 6.0% Li2O).

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Recovery Methods

The lithium zone flowsheet development test work showed a viable flowsheet to crush to minus 12.7 mm and screen at 1 mm, followed by screening again at 6.3 mm to make two streams (-12.7 mm plus 6.3 mm and -6.3 mm plus 1mm) for HLS (plant DMS). The minus 1 mm fines and HLS middlings (DMS plant middlings) would be stored for future processing and recovery of additional lithium, and other minerals of interest. HLS floats (DMS floats) may also be considered for road construction projects. The flowsheets developed for Project are shown in Figure 3.

The base case process plant is designed to crush 1,500tpd and process 1,500tpd in a DMS plant to produce a nominal 56,000 tpy of 6% Li2O at 81% recovery.

Engineering and design were developed to a scoping level based on the results of the SGS laboratory testing. The SGS lab tests obtained 22.9 weight percentages of 6% Lithium Concentrate and estimated 81% lithium recovery.

A design factor of 10 % is applied on nominal requirements to ensure that the process equipment has enough capacity to take care of the expected feed variation.

Environmental

The preliminary analysis of the Project indicates it will be subject to multiple Class Environmental Assessments under the Ontario provincial Environmental Assessment Act. The Project is not anticipated to trigger a federal impact assessment under the Impact Assessment Act. Several other permits, approvals or authorizations will be required to continue Project development beyond early exploration, including advanced exploration through closure.

At the time of filing, environmental and socio-economic studies have not been initiated for the Project though will be necessary to support and inform environmental assessment(s) and permitting applications. These studies are required to characterize the existing environmental setting of the Project and to inform design and/or process considerations.

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Figure 3: Crushing area flowsheet (A) and DMS area flowsheet (B) for the Raleigh Lake project.

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Once Project approvals are secured, ILC will be required to comply with any terms and conditions associated with Project-specific authorizations issued by provincial or federal authorities, as well as relevant environmental law and regulation.

First Nation's and Metis communities are situated near the Raleigh Lake property and consider the area part of their traditional territory. ILC has identified Indigenous groups that may have an interest in the Project and has initiated engagement. The lands and community of the Wabigoon Lake Ojibway Nation (WLON) are the closest to the Project, WLON has been the foremost community for communication and involvement by Company representatives.

Capital Costs

The Raleigh Lake Preliminary Economic Analysis Study (PEA) involves the development of an open pit mine, the construction of on-site processing facilities and all infrastructure required to support those activities.

The capital cost estimate for the Raleigh Lake has been prepared to an accuracy of + 30% / - 20% based on a 10% to 40% engineering completion ratio to conform with the requirements for an American Association of Cost Engineers (AACE) Class 3 Estimate.

All capital cost estimates are based on Q4 2023 Canadian Dollars (CAD$) and an assumed US to Canadian Dollar ratio of $1 USD = $1.35 CAD.

Total pre-production capital costs will be CAD $111.9 million as shown in Table 9, which include capitalized operating costs incurred before the open pit mine moves into the production phase.

Table 9: Pre-production Capital Costs.

Cost CentreDescriptionCost
(CAD$ million)
Direct CAPEX Costs
1000Open Pit Mining18.2
3000Mineral Processing38.5
4000Power, Electrical and Instrumentation3.8
5000Site Infrastructure and Support Services11.5
6000Water Management Systems2.0
7000Tailings and Mine Waste Management Facilities1.8
Total Direct CAPEX Costs75.8
Owner and Indirect CAPEX Cost Summary
8000Reclamation and Closure10.0
9000Indirect and Owner Costs18.6
Total Indirect CAPEX Costs28.6
9600Contingency7.6
Total Pre-Production CAPEX Costs 111.9

 

Total sustaining capital costs over the mine production phase will be CAD$17.5 million (Table 10).

Table 10: Total Sustaining Capital Costs (SUSEX).

Cost CentreDescriptionCost
(CAD$ million)
Direct SUSEX Costs
1000Open Pit Mining9.1
6000Water Management Systems0.2
7000Tailings and Mine Waste Management Facilities3.8
Total Direct SUSEX Costs13.0
Owner and Indirect SUSEX Cost Summary
9000Indirect and Owner Costs3.2
Total Indirect Costs3.2
9600Contingency1.3
Total SUSEX17.5

 

Operating Costs

The operating cost estimate (Table 11) is based on the total amount of labour, materials and consumables that will be required to fully execute the mining and processing plans as described above.

The total operating costs incurred over the life of the project are based on sufficient mill feed material being available to begin processing plant operations in Year 1 of the overall project schedule, which will include the processing of 54,037 tonnes of mill feed stockpiled in Year -1 of the pre-production schedule.

Total operating costs for the operation will primarily be those for mining and processing.

The total LoM operating cost is estimated to be CAD $412.1 million.

The total LoM operating cost of mining is estimated to be CAD $179 million.

The total LoM operating cost of processing is estimated to be CAD $124.6 million.

The total LoM operating cost of G&A is estimated to be CAD $77.5 million.

The total LoM operating cost of concentrate transport is estimated to be CAD $31 million.

Road Transportation Costs

Road transportation costs incurred over the production life of the project assume that the final technical grade concentrate would be transported by truck to a conversion plant located in Winnipeg or Thunder Bay.

A total cost of CAD$75 per tonne of concentrate was assumed based on a conservative truck haulage cost of CAD$60 per tonne and total loading/unloading costs of CAD$15 per tonne of concentrate produced, or CAD$7.13 per tonne of mill feed for a total LoM cost of CAD$31.1 million.

Table 11: Unit Operating and Overall Project Costs.

ParameterValueUnit
Unit Operating Costs - Production Phase
Mining CAD$3.55 /t mined
Mining including Waste (Strip Ratio = 13.2:1) CAD$40.98/t mill feed
Milling CAD$28.53/t mill feed
G & A CAD$17.74/t mill feed
Concentrate transportation CAD$7.13/t mill feed
Total CAD$94.38/t mill feed
Overall Project Costs
Total Mining Cost* CAD$179 million
Total Milling Costs CAD$124.6 million
Total G&A Costs CAD$77.5 million
Total Concentrate Transport Costs CAD$31 million
Total Operating Costs CAD$412.1 million

 

* Does not include capitalized waste mining pre-production

Project Economics

The economic analysis of the Raleigh Lake project is based on cost models prepared for each major component of the overall project, which includes an open pit mine, crushing and processing plants, supporting surface infrastructure and a waste rock / tailings co-disposal facility.

The assumed technical grade 6% spodumene concentrate product and cost calculations are all expressed in Canadian dollars unless otherwise noted, with an exchange rate of 1.35 CAD/USD being used for currency conversions.

The calculated internal rate of return (IRR) of the project does not include potential external financing costs and assumes that all required funding will be equity based. The net present value (NPV) calculations assumed a discounting rate of 8% p.a.

The discounted cash flow model includes revenues, costs, taxes, and other known factors directly related to the project but excludes indirect factors such as financing costs, sunk costs, and corporate obligations.

The results of the economic analysis yielded a post-tax NPV of CAD$342.9 million, an IRR of 44.3% p.a. and a payback period of 4 years after construction begins or 2 years after the start of the production phase of the project.

About International Lithium Corp.

International Lithium Corp. believes that the world faces a significant turning point in the energy market's dependence on oil and gas and in the governmental and public view of climate change. In addition, we have seen the clear and increasingly urgent wish by the USA and Canada to safeguard their supplies of critical battery metals and to become more self-sufficient. Our Canadian projects are strategic in that respect.

Our key mission in the next decade is to make money for our shareholders from lithium and rare metals while at the same time helping to create a greener, cleaner planet and less polluted cities. This includes optimizing the value of our existing projects in Canada and Ireland as well as finding, exploring and developing projects that have the potential to become world class lithium and rare metal deposits. We have announced separately that we regard Zimbabwe as an important strategic target market for ILC, and we hope to be able to make announcements over the next few weeks and months.

A key goal has been to become a well-funded company to turn our aspirations into reality, and following the disposal of the Mariana project in Argentina in 2021 and the Mavis Lake project in Canada in January 2022, the Board of the Company considers that ILC is now well placed in that respect with a strong net cash position.

The Company's interests in various projects now consists of the following, and in addition the Company continues to seek other opportunities:

NameLocationArea (Hectares)Current Ownership PercentageFuture Ownership percentage if options exercised or work carried outOperator or JV Partner
Raleigh LakeOntario48,500100%100%ILC
Wolf RidgeOntario 5,7000%100%ILC
AvaloniaIreland29,20045%21%Ganfeng Lithium
Mavis LakeOntario 2,6000%0%
(carries an extra earn-in payment of CAD $0.7 million if resource targets met)
Critical Resources Ltd (ASX:CRR)
Forgan Lake & Lucky LakeOntario0%1.5% Net Smelter RoyaltyUltra Lithium Inc. (TSX.V:ULT)

 

The Company's primary strategic focus at this point is on the Raleigh Lake Project's lithium and rubidium project in Canada and on identifying additional properties in Canada and Zimbabwe.

The Raleigh Lake Project consists of 48,500 hectares (485 square kilometres) of mineral claims in Ontario and is ILC's most significant project in Canada. Drilling has so far been on less than 1,000 hectares of our claims. The exploration results there so far, which are on only about 8% of ILC's current claims, have shown significant quantities of rubidium and caesium in the pegmatite as well as lithium. Raleigh Lake is 100% owned by ILC, is not subject to any encumbrances, and is royalty free.

With the increasing demand for high tech rechargeable batteries used in electric vehicles and electrical storage as well as portable electronics, lithium has been designated "the new oil", and is a key part of a green energy sustainable economy. By positioning itself with projects with significant resource potential and with solid strategic partners, ILC aims to be one of the lithium and rare metals resource developers of choice for investors and to continue to build value for its shareholders in the '20s, the decade of battery metals.

Patrick McLaughlin, P. Geo., and Garth Liukko P.Eng., are Qualified Persons as defined by NI 43-101 and have verified the disclosed technical information and have reviewed and approved the contents of this news release.

On behalf of the Company,

John Wisbey
Chairman and CEO

www.internationallithium.ca

For further information concerning this news release please contact +1 604-449-6520.

Neither 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.

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release or other releases contain certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the effect of results of anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or Wolf Ridge or Avalonia projects, the expectation of resource estimates, preliminary economic assessments, feasibility studies, lithium or rubidium or caesium recoveries, modeling of capital and operating costs, results of studies utilizing various technologies at the company's projects, budgeted expenditures and planned exploration work on the Company's projects, increased value of shareholder investments, and assumptions about ethical behaviour by our joint venture partners or third party operators of projects. Such forward-looking information is based on assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Risks" and "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic, legislative, and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189765

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Visit International Lithium Corp. at PDAC 2024, Booth #2350

Visit International Lithium Corp. at PDAC 2024, Booth #2350

Come visit International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") at Booth #2350 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 3 to Wednesday, March 6, 2024.

John Wisbey, Chairman and CEO, will be on hand with Anthony Kovacs, Director and COO, to discuss the recently announced positive PEA* for the Raleigh Lake Lithium project (located along Highway 17 just outside of Ignace, Ontario) and the recently acquired highly prospective Firesteel Copper project** (just down the road near Upsala) - all in Northwestern Ontario.

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Expansion of Critical Minerals Portfolio with the Highly Prospective Firesteel Copper-Cobalt Project near Upsala, Ontario

Expansion of Critical Minerals Portfolio with the Highly Prospective Firesteel Copper-Cobalt Project near Upsala, Ontario

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce it has entered into a Purchase and Sale Agreement (the "Agreement") to acquire a 90% interest in a highly prospective grass roots copper and cobalt property in Northwestern Ontario.

The Firesteel project ("Firesteel" or the "Project" or "Property"), previously referred to as the Honeyjack project, is located less than 10 km directly west of Upsala along Highway 17 and stretches for 16 km to the Firesteel River (Figure 1 and 2).

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International Lithium Announces Warrants Extension

International Lithium Announces Warrants Extension

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") announces that it intends, subject to TSX Venture Exchange approval, to extend the term of 25,121,583 warrants expiring on February 29, 2024 for a period of two years. The share purchase warrants were issued pursuant to a private placement of 54,545,455 units accepted for filing by the TSXV on April 5, 2021. Following the extension, 12,571,073 warrants will expire on February 3, 2026, and 12,550,510 warrants will expire on February 19, 2026. The exercise price remains unchanged at $0.08.

About International Lithium Corp.

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International Lithium Files PEA Technical Report for Raleigh Lake Lithium Project - Outlines Highly Favourable After-Tax NPV  of CAD$342.9 million and After-Tax IRR of 44.3% p.a.

International Lithium Files PEA Technical Report for Raleigh Lake Lithium Project - Outlines Highly Favourable After-Tax NPV of CAD$342.9 million and After-Tax IRR of 44.3% p.a.

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce the National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI43-101") technical report ("The Report") for the Preliminary Economic Assessment(" PEA") for a proposed lithium mining operation to produce spodumene concentrate at Raleigh Lake, is now filed on SEDAR+.

Further to the Company's news release dated December 4, 2023, the Raleigh Lake Project, located 25 kilometres west of Ignace, Ontario has demonstrated a highly favourable economic scenario based on the production of a spodumene concentrate containing 6% Li2O ("SC6").

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International Lithium Announces Extension of Private Placement

International Lithium Announces Extension of Private Placement

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce that the Company has been granted an extension from the TSX Venture Exchange (the "TSXV") to extend the closing of its non-brokered private placement (the "Offering") of up to 40,000,000 units (each, a "Unit") at CAD $0.05 per Unit to raise gross proceeds of up to $2,000,000, as previously announced on October 24, 2023. Pursuant to the extension, the Company has until January 25, 2024, to complete the Offering. The extension is designed to provide sufficient time for certain subscribers to complete all necessary documentation and requirements for the Company to accept their subscriptions.

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QX Resources Ltd  Stardust Power Inc Signs LOI for Liberty Lithium Brine - USA

QX Resources Ltd Stardust Power Inc Signs LOI for Liberty Lithium Brine - USA

Perth, Australia (ABN Newswire) - QX Resources Limited (ASX:QXR) has entered into a Letter of Intent ("LOI") with Stardust Power Inc. ("Stardust Power"), a development stage American manufacturer of battery-grade lithium products, to negotiate a formal agreement to assess the lithium brines from QXR's large scale Liberty Lithium Brine Project located in California, USA ("Project"), dependent on results, and evaluate options to potentially supply Stardust Power with lithium brine products on a non-exclusive basis for processing into battery-grade lithium materials for electric vehicles*.


- QXR has entered into a Letter of Intent with Stardust Power Inc., a development stage American manufacturer of battery-grade lithium products, to assess the lithium brines from QXR's large scale Liberty Lithium Brine Project located in the USA.

- The parties intend to evaluate options to potentially supply Stardust Power with lithium brine products on a non-exclusive basis for processing into battery-grade lithium materials for electric vehicles.

- QXR is awaiting results and interpretations in the coming weeks from two drillholes, located 4km apart, which intersected numerous brine bearing aquifers at the Liberty Lithium Brine Project.

*Cautionary Statement: QXR is awaiting results from drilling that has intersected brines but does not imply that the brines are lithium bearing. Chemical analysis from an independent laboratory will determine lithium concentrations in a brine.

Stardust Power is developing a strategically and centrally located lithium refinery in Muskogee, Oklahoma with plans for producing up to 50,000 metric tons per annum of battery-grade lithium and is securing sources of lithium brine feedstock to turn into battery grade lithium products ready for use across the lithium supply chain, with a focus on electric vehicles (EV). With over 25 battery giga-factories currently under development across the United States, there is an acute need for a national battery-grade lithium refinery to supply lithium to battery manufacturers. In November 2023, Stardust Power announced that it intends to go public on the NYSE through a merger with a publicly traded special purpose acquisition company in a deal valued at US$490 million.

The LOI between Stardust Power and QXR outlines the intention to work together collaboratively in good faith to assess the potential of lithium brines from the Project, and evaluate options to determine if there is an economically feasible process to produce lithium products from the Project to potentially supply Stardust Power with a limited volume of lithium brine products.

QXR has the ability to earn a 75% interest of the 102km2 Liberty Lithium Brine Project, located in SaltFire Flat, in California, USA (refer ASX announcement dated 5 October 2023). The Project is one of the largest single lithium brine projects in the USA (for scale, equivalent to 2x area of Sydney Harbour). The Project's geological setting mirrors Albemarle's nearby Silver Peak lithium brine producer in Clayton Valley USA and major Argentina brine projects.

QXR is awaiting results and interpretations in the coming weeks from two drillholes, located 4km apart, which intersected numerous brine bearing aquifers (refer ASX announcement dated 8 February 2024).

QXR Managing Director, Stephen Promnitz, said: "QXR has been in discussions with Direct Lithium Extraction technology providers, lithium product processors and end users to advance the liberty Lithium Project dependant on results. Stardust is an emerging new processor of lithium for batteries and we are keen to advance discussions with them."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/K47IZKL7



About QX Resources Ltd:

QX Resources Limited (ASX:QXR) is focused on exploration and development of battery minerals, with hard rock lithium assets in a prime location of Western Australia (WA), and gold assets in Queensland. The aim is to connect end users (battery, cathode and car makers) with QXR, an experienced explorer/developer of battery minerals, with an expanding mineral exploration project portfolio and solid financial support.

Lithium portfolio: QXR's lithium strategy is centred around WA's prolific Pilbara province, where it has acquired a controlling interest in four projects through targeted M&A - all of which sit in strategic proximity to some of Australia's largest lithium deposits and mines. Across the Pilbara, QXR's regional lithium tenement package (both granted or under application) now spans more than 350 km2.

Gold portfolio: QXR is also developing two Central Queensland gold projects - Lucky Break and Belyando - through an earn-in agreement with Zamia Resources Pty Ltd. Both gold projects are strategically located within the Drummond Basin, a region that has a >6.5moz gold endowment.

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NORTH ARROW ANNOUNCES APPOINTMENT OF EIRA THOMAS AS CHAIR OF THE BOARD OF DIRECTORS

NORTH ARROW ANNOUNCES APPOINTMENT OF EIRA THOMAS AS CHAIR OF THE BOARD OF DIRECTORS

North Arrow Minerals Inc. (TSXV: NAR) (" North Arrow") is pleased to announce that Eira Thomas has been appointed as Chair of the Board of Directors, effective February 28, 2024 . Ms. Thomas succeeds D. Grenville (Gren) Thomas who will remain as a director after 17 years as the Company's Chair.

Eira and Gren Thomas prospecting for a new source of hard rock lithium at the LDG Project, NWT, October 2023. The windfarm at the Diavik Diamond Mine (a mine they discovered in the 1990s) can be seen from this location. Eira Thomas (left) has been appointed Chair of the Board for North Arrow Minerals, taking over for her father Gren Thomas (right) who will stay on as a director. (CNW Group/North Arrow Minerals Inc.)

Ken Armstrong , President and Chief Executive Officer of North Arrow, stated, "We are very pleased to welcome Eira Thomas to North Arrow as Chair of the Board of Directors. Eira has a long and successful track record in the resource sector, in particular with identifying and building out opportunities in the junior mining space." Mr. Armstrong continued: "I'd like to extend my thanks and appreciation to Gren for his past guidance as Chair and look forward to his continued involvement as a director of the company."

Ms. Thomas, Chair of North Arrow's Board, stated: "As a long-time advisor and supporter of North Arrow, I am delighted to join the Company as Chair and help guide management through their ongoing strategy of evaluating lithium occurrences identified on three properties in 2023, extracting value from the Company's portfolio of legacy diamond properties, and identifying new, compelling exploration and development opportunities in Canada ."

Ms. Thomas brings more than 30 years of experience in the mining industry, particularly in the diamond, gold and energy spaces. She has held executive and board positions with a number of companies over that period, including Aber Diamond Corp., Stornoway Diamond Corp., Kaminak Gold Corp., and Lucara Diamond Corp., as well as 17 years as a director of Suncor Energy.

Pursuant to North Arrow's stock option plan, North Arrow has granted 500,000 incentive stock options to a director. Each incentive stock option is exercisable into one common share of the Company, has an exercise price of 8 cents per share, and can be exercised until February 28, 2029 .

North Arrow is a Canadian based exploration company focused on the identification and evaluation of lithium and other exploration opportunities in Canada . North Arrow's management, board of directors and advisors have significant successful experience in the global exploration and mining industry. North Arrow is evaluating spodumene pegmatites at its 100% owned LDG, MacKay, and DeStaffany Lithium Projects (NWT), is exploring for lithium in Nunavut at the Bathurst Inlet pegmatite field and continues work to identify additional lithium exploration opportunities in northern Canada . North Arrow also owns interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Diamond Projects and maintains a 100% interest in the Hope Bay Oro Gold Project, located approximately 3 km north of Agnico Eagle's Doris Gold Mine , Nunavut . North Arrow's exploration programs are conducted under the direction of Kenneth Armstrong , P.Geo. (NWT/NU, ON), President and CEO of North Arrow and a Qualified Person under NI 43-101.

North Arrow Minerals Inc.

/s/ "Kenneth A. Armstrong"
Kenneth Armstrong
President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility
for the adequacy or accuracy of this release.

This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.

North Arrow Minerals Inc. Logo (CNW Group/North Arrow Minerals Inc.)

SOURCE North Arrow Minerals Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/28/c3951.html

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ALX Resources Corp. Announces Option Earn-In Transaction and 2024 Winter Drilling Program for the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

ALX Resources Corp. Announces Option Earn-In Transaction and 2024 Winter Drilling Program for the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

alx resources corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce an option earn-in transaction (the "Transaction") for its 100%-owned Gibbons Creek Uranium Project ("Gibbons Creek", or the "Project") located in the northern Athabasca Basin near the community of Stony Rapids, Saskatchewan. ALX has executed a binding letter agreement (the "Letter Agreement") with Trinex Lithium Ltd., a wholly-owned subsidiary of Trinex Minerals Limited ("Trinex"), which is a publicly-traded mineral exploration company listed on the Australian Securities Exchange. Under the terms of the Letter Agreement, Trinex can earn an initial 51% interest and up to a 75% participating interest in the Project in two stages over a period of five years by making cash payments and common shares payments to ALX, and by incurring exploration expenditures as shown in the table below.

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Lancaster Resources Acquires High-Impact Uranium Claims in Athabasca Basin

Lancaster Resources Acquires High-Impact Uranium Claims in Athabasca Basin

Lancaster Resources Inc. (CSE:LCR) (OTCQB:LANRF) (FRA:6UF) (" Lancaster "), Lancaster Resources, a North American critical minerals exploration company, is excited to announce the acquisition of two high impact mineral claims in the world-class Athabasca Basin. The two claims are targeting high grade uranium in basement and unconformity type deposits. The two properties, called Catley Lake and Centennial East, at 3,036 hectares and 5,081 hectares respectively, provide significant exploration opportunities. These strategic acquisitions bolster Lancaster's commitment to discovering critical minerals in support of the energy transition.

The Catley Lake & Centennial East mineral claims are located immediately adjacent to Cameco's Centennial deposit claim block in the south-central area of the Athabasca basin. The Centennial deposit, which is approximately 11km west of Lancaster's Centennial East claim, was the first significant high-concentration uranium deposit located along the Snowbird tectonic boundary. The Centennial deposit has shown assays up to 8.78% U 3 0 8 over 33.9m below the Athabasca sandstone and Virgin River unconformity from a Cameco drill. Concentrations of U 3 0 8 up to 25.6% were seen over 0.5m in a drillhole assay (SMDI-2758).

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Nord Precious Metals to Participate and Present at PDAC 2024

Nord Precious Metals to Participate and Present at PDAC 2024

(TheNewswire)

Nord Precious Metals

Coquitlam, BC TheNewswire - February 26, 2024 Nord Precious Metals Mining Inc. (TSXV:NTH) (OTC:CCWOF) (Frankfurt: 4T9B) (the "Company" or "Nord Precious Metals") is pleased to announce it will participate and present at the PDAC 2024 Conference in Toronto from March 3 to March 6, 2024 and welcomes the opportunity to meet with investors to discuss recent developments and plans for the Company.

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Beyond Lithium Announces Shares for Debt Transactions

Beyond Lithium Announces Shares for Debt Transactions

Beyond Lithium Inc. (CSE: BY) (OTCQB: BYDMF) (the "Company" or "Beyond Lithium") announces that it has agreed to settle debts relating to certain consulting fees owed to two arm's length parties by issuing an aggregate of 171,554 common shares of the Company at a deemed price of $0.185 per share, representing an aggregate value of $31,737.50 (the "Debt Settlement").

All common shares to be issued pursuant to the Debt Settlement will be subject to the statutory hold period of four months and one day from their date of issuance and 58,750 of the shares shall be subject to additional contractual hold period expiring on July 10, 2024.

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