ION Energy Acquires New Lithium Pegmatite Project Located in the Yellowknife Pegmatite Province

ION Energy Acquires New Lithium Pegmatite Project Located in the Yellowknife Pegmatite Province

Highlights

  • Bliss Lake Lithium Project is 5,798 hectares in area and totals five contiguous licences;

  • Less then 15km from Li-FT Power Ltd's "Road Access Group" where numerous lithium bearing pegmatites have been identified and sampled with over 1% Li2O;

  • Numerous pegmatite occurrences identified from Landsat images on the Bliss Lake Project the largest of which is interpreted to be over 300 metres in strike length;

  • 30 kms from Yellowknife, 5 kms from road networks; and

  • Exploration to commence immediately.

ION Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") announces that it has signed a definitive agreement to acquire the Bliss Lake Lithium Pegmatite Project in NWT, Canada in an all equity, milestone driven transaction, which ultimately allows the seller to reach a 5% ownership interest in the Company.

The immediate consideration for the acquisition will consist of two equity tranches. The first tranche will be a value of $150,000 of the Company shares at a deemed value of $0.35 and the second tranche will have a value of $350,000 of Company shares at a deemed value of $0.35 subject to a 4 month hold period. The Company will also grant to the seller a 1.0% Net Smelter Royalty (NSR), with the Company having the right to repurchase one half of the NSR at any time for $500,000.

The Bliss Lake Lithium Project encompasses 5,798 hectares and is located between 13-15 km away from lithium properties held by Li-FT Power Ltd. (see Li-FT Power press release dated Dec. 20, 2022 as filed on SEDAR) and 20km from Patriot Battery Metals Inc. (see PMET's MD&A report dated 30 June 2022 as filed on SEDAR). Investors should note that exploration results of third parties in the vicinity are not indicative of potential results at the Company's project.

Lithium bearing pegmatites in the Yellowknife area are well documented in the published literature and in the records on file with the Mineral Resources Division, Canadian Department of Energy, Mines and Resources, Ottawa. The significant resources occur as steeply dipping tabular, unzoned pegmatite dikes of Pre-Cambrian age dated 2200 million years. The numerous pegmatites are localized in metamorphic aureoles of knotted schists associated with granitic intrusions. Detailed mapping and surface sampling of fourteen properties within the district (Lasmanis, 1978)[1] indicated a mineralized potential of 49,000,000 tons of pegmatite to a depth of 152m having an average grade of 1.40% Li2O.

"The Company is very pleased to have signed a binding definitive agreement for the acquisition of 5,798 hectares Bliss Lake Lithium Project in the Northwest Territories. The prospect is within 10s of kilometers from other proven pegmatite fields and allows ION Energy to be a multi-jurisdictional, multi-asset company that has the ability to serve two major, established geographies," says Ali Haji, CEO & Director of ION Energy Ltd.

The technical content in this news release was reviewed and approved by Mr. Don Hains, P.Geo, Consulting Geologist, and a Qualified Person as defined by National Instrument 43-101.

Shareholder Summit - Wednesday, May 24, 2023:

With this exciting milestone in ION Energy's aggressive growth strategy to build a diversified global portfolio of high-quality lithium resources in strategic jurisdictions, join ION's CEO, Ali Haji on Wednesday, May 24, 2023 at 11 am EST, to learn more about this new addition to the company's portfolio and what else is in store for the Company in the coming months.

REGISTER HERE TO ATTEND: https://my.6ix.com/84wWhLfp

About ION Energy Ltd.

ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake project in NWT, Canada, ION will have significantly enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.

For further information:

COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571

MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920

Cautionary Note Regarding Forward-Looking Information

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 news release.

Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from ION Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium. There can be no assurance that forward-looking statements will prove to be accurate and 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.

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, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.


[1] R. Lasmanis (1977):Lithium Resources in the Yellowknife Area, Northwest Territories, Canada, Energy, Vol. 3, pp. 399-407

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/165715

News Provided by Newsfile via QuoteMedia

ion:cc
The Conversation (0)
Ion Energy (TSXV:ION)

ION Energy Amends and Restates Acquisition Agreement for Bliss Lake Lithium Pegmatite Project

ION Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") has amended and restated the agreement (the "A&R Agreement") to acquire the Bliss Lake Lithium Pegmatite Project in NWT, Canada ("Bliss Lake"). The Company's acquisition of Bliss Lake was originally announced in a press release dated May 11, 2023 (the "Acquisition Press Release").

The A&R Agreement was entered into to clarify certain terms of the original agreement and the transaction. As a result of the amendments, the immediate consideration for the acquisition under the terms of the A&R Agreement will consist of a single tranche of Company shares with a value of $128,571 at a deemed value of $0.25. Unamended transaction terms also provide for deferred equity-based consideration to the vendors in the event assay results from exploration at Bliss Lake satisfy defined lithium oxide content thresholds and cash consideration in the event of announcement of a mineral resource estimate at Bliss Lake meeting defined criteria.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
ION Energy Ltd Announces Participation in THE Mining Investment Event of the North, Canada's First Tier I Mining Conference, June 19-21 Quebec City

ION Energy Ltd Announces Participation in THE Mining Investment Event of the North, Canada's First Tier I Mining Conference, June 19-21 Quebec City

Featuring Critical Metals Day on June 20, 2023

ION Energy Ltd (TSXV: ION) committed to building a diversified global portfolio of exploration and growth-stage battery mineral assets, is pleased to announce that it will be participating in THE Mining Investment Event of the North, June 19-21, 2023, ("THE Event") at the Fairmont Chateau Frontenac and Voltigeurs de Quebec Armoury in Quebec City, Canada.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Electric vehicle charging with blue background.

Market Pain, Strategic Gain: Pilbara Minerals' Dale Henderson on Today's Lithium Paradox

“(Lithium) is not for the faint-hearted. It demands resilience, foresight and leadership,” said Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) Managing Director and CEO Dale Henderson.

He was speaking at Fastmarkets’ Lithium Supply & Battery Raw Materials Conference, held this week in Las Vegas.

Henderson touched on three main points: current lithium market dynamics, how Pilbara Minerals is navigating the lithium landscape and his recommendations for the global lithium industry.

Keep reading...Show less
Glowing battery with green zigzag on a futuristic circuit board background.

Fastmarkets’ 2025 Lithium Conference to Tackle EV Growth, Battery Supply Chains and Market Outlook

Fastmarkets is set to host its 17th Lithium Supply and Battery Raw Materials Conference.

Scheduled to run from June 23 to 26 in Las Vegas, Nevada, the event will bring together global industry leaders to explore key topics shaping the future of the battery supply chain.

Discussions will cover lithium extraction technologies, including direct lithium extraction, as well as advances in processing, refining and recycling. More broadly, market outlooks, pricing trends and investment strategies will be analyzed alongside evolving ESG standards, policy impacts and risk management approaches.

Keep reading...Show less
Gina Rinehart, executive chair of Hancock Prospecting, stands in front of cherry blossom trees.

Inside Billionaire Gina Rinehart's Key Mining Investments

Australian billionaire Gina Rinehart has become a formidable force in the global mining industry.

After taking the helm of her father’s iron ore firm Hancock Prospecting in 1993, she embarked upon a diversification strategy that has vastly expanded her resource empire. Now Australia’s richest person, Rinehart has investments in many of the world’s most strategic commodities such as lithium, rare earths, copper, potash and natural gas.

One of those investments is Arafura Rare Earths (ASX:ARU,OTC Pink:ARAFF), which even in a low price environment for rare earths managed to secure nearly AU$1.5 billion in debt financing in mid-2024 to advance its Nolans project in the Northern Territory. With a 10 percent equity stake, Rinehart’s Hancock Prospecting is Arafura's largest shareholder.

Keep reading...Show less
Lithium Africa CEO Tyron Breytenbach.

Lithium Africa CEO Makes Case for Lithium Investing Amid Bear Market

The CEO of Lithium Africa is making a case for investing in lithium during the current bear market, saying recent moves by major players such as Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) indicate confidence in the market's longer-term potential.

“(Rio Tinto) is the second biggest miner of commodities on the planet. And late last year, they did the Arcadium Lithium transaction, which is the second largest transaction in corporate history, and they've picked lithium," Tyron Breytenbach said during an interview with the Investing News Network.

"Shortly after that, they followed on with a big, multibillion-dollar investment in Chile. Again, the commodity they picked was lithium."

Keep reading...Show less
Truck with drill rig at sunset in a dry, grassy landscape.

Rock Bottom: Strategic Window for Ground-level Lithium Investment in 2025

When lithium prices hit bottom, savvy investors know that’s exactly where the next big discovery begins — literally. Beneath the surface of global markets and remote exploration grounds, new opportunities are forming in the wake of a sharp price reset and renewed geopolitical urgency.

Macroeconomic and policy shifts in 2025 are creating ideal conditions for those willing to look past the headlines. While volatility in lithium prices has tempered short-term sentiment, the underlying demand trajectory remains strong. With governments reshaping supply chains to reduce reliance on China and accelerate the energy transition, lithium is emerging not only as a critical resource, but as a strategic investment theme with long-term upside.

For investors, this reset isn’t a retreat; it’s a rare chance to get in early, at ground level.

Keep reading...Show less

Latest Press Releases

Related News

×