With compelling economic metrics demonstrated through its new prefeasibility study, Jindalee Lithium’s McDermitt Project presents a strong case for investors to gain exposure to this critical mineral and participate in the global clean energy transition.
Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) is an Australia-based pure-play US lithium company focused exclusively on its 100-percent-owned McDermitt Lithium Project, currently one of the largest lithium deposits in the US, boasting a resource of 21.5 million tons (Mt) of lithium carbonate equivalent (LCE).
Backed by a newly released (November 2024) prefeasibility study (PFS) demonstrating very compelling economics, the McDermitt Project is poised to play a crucial role in meeting North America’s growing lithium demand for the lucrative battery value chain.
As the US continues to transition to energy independence, demand for lithium is expected to exponentially increase. Jindalee’s McDermitt Project, located in southeast Oregon, is a game-changer for North American lithium supply, critical for meeting the demands of the fast-growing electric vehicle, energy storage and defense sectors.
McDermitt also stands to significantly benefit from the US government’s policies and incentives to boost domestic supply of critical resources. In fact, in a move that signifies the US government's support of the McDermitt Lithium Project, the US Department of Energy's Ames National Laboratory signed a Cooperative Research and Development Agreement with Jindalee's subsidiary HiTech Minerals to develop cutting-edge extraction methods for the McDermitt Project. The Ames National Laboratory spearheads the DOE's Critical Materials Innovation Hub.
Key milestones in the US lithium resource space also provide significant insights into the future prospects for Jindalee’s project. Lithium Americas (TSX:LAC), for instance, has received a total of US$945 million investment from General Motors, which will fund the development, construction and operation of the Thacker Pass project in Humboldt County, Nevada. In October 2024 LAC closed a $2.3 billion loan from the US Department of Energy and in April 2025 announced the Final Investment Decision for Thacker Pass following a $250 million investment from Orion Resource Partners.
Another lithium resource developer in Nevada, Australia-based Ioneer (ASX:INR) has closed a US$996 million loan guarantee from the US Department of Energy to finance the development of its flagship Rhyolite Ridge lithium-boron project.
The US government has taken further action to bolster domestic critical mineral production. On 20 March 2025, President Trump issued a significant executive order titled "Immediate Measures to Increase American Mineral Production", underscoring the urgency and strategic imperative of increasing domestic supply chains for critical minerals. This order builds on previous initiatives by fast-tracking the permitting processes, prioritizing access to mineral-rich federal lands, clarifying regulatory frameworks, and mobilizing substantial financial resources – including Defense Production Act (DPA) funds – towards domestic mineral projects.
As one of the largest lithium resources in the US and situated on federal lands, Jindalee’s McDermitt Lithium Project stands to potentially benefit from these accelerated permitting processes and enhanced government support mechanisms. The clear commitment demonstrated by the US administration highlights the critical strategic advantage of domestically located mineral assets such as McDermitt, reinforcing its importance in securing robust domestic supply chains, essential for energy security
These are just a few examples of current market dynamics that point to a rapidly accelerating lithium resource development in the US.
An experienced management team, with the right blend of experience and expertise in geology, corporate administration and international finance, leads Jindalee to fully capitalize on the potential of its assets.
The economic metrics revealed in the PFS paint a compelling picture of the McDermitt Lithium Project's potential:
Production Capacity: The Project is set to produce 1.8 Mt of battery-grade lithium carbonate over its first 40 years, with an annual output forecast of 47,500 tons per annum (tpa) in the initial 10 years, tapering to 44,300 tpa over the first 40 years.
Financial Metrics: The Project boasts a net present value (NPV) of US$3.23 billion at an 8 percent discount rate, with an internal rate of return (IRR) of 17.9 percent. These figures underscore the Project’s strong economic viability.
Payback Period: Investors can expect a payback period of less than five years, a relatively short timeframe for a project of this magnitude.
Break-even Price: The break-even NPV price is approximately US$14,600/t of lithium carbonate, providing a buffer against market fluctuations.
The PFS estimates a total project cost of US$3.02 billion, which includes a prudent 21 percent contingency margin. This substantial investment is balanced by impressive profitability projections, including an EBITDA margin of 66 percent generating post-tax free cash flow of US$6.6 billion during the first decade of operations. With a pre-tax net operating cashflow margin of 17 percent at current spot prices, McDermitt shows strong cash generation potential.
These financial indicators suggest that McDermitt is not only economically viable but potentially highly profitable, positioning it as an attractive prospect for investors and strategic partners alike.
The McDermitt Project is located in Malheur County on the Oregon-Nevada border and is approximately 35 kilometres west of the town of McDermitt. The 100-percent-owned asset covers 54.6 square kilometres of claims at the northern end of the McDermitt volcanic caldera.
The Project is characterized by its unique sedimentary lithium deposits, primarily composed of lithium-bearing clays, a geological formation that sets McDermitt apart from many other lithium projects worldwide. This sedimentary nature of the deposit offers several advantages:
The lithium-rich clays at McDermitt are part of a broader geological context that includes volcanic tuffs and sedimentary rocks. This geological setting is indicative of a complex depositional history, which has resulted in the concentration of lithium in economically viable quantities.
The 2023 mineral resources estimate (MRE) for the McDermitt Project contains a combined indicated and inferred mineral resource inventory of 3 billion tons at 1,340 parts per million (ppm) lithium for a total of 21.5 Mt LCE at 1,000 ppm cut-off grade.
Ian Rodger is a qualified mining business executive with almost 15 years of experience in various roles including as a mining engineer for Rio Tinto across two large greenfield mine developments, before successfully transitioning into mining corporate finance where he held Executive and Director positions at RFC Ambrian overseeing origination and management of numerous mandates across a range of corporate advisory roles. Rodger was the project director for Oz Minerals (ASX:OZL) where he made significant contributions to successfully define the value potential of the West Musgrave nickel/copper province through the delivery of a portfolio of growth studies. Most notably, he led technical, market and partnership development workstreams, successfully confirming value potential for producing an intermediate Nickel product for the battery value chain.
Rodger holds a Bachelor of Mining Engineering from the University of Queensland, a Masters of Mineral Economics from Curtin University and is also a graduate of the Australian Institute of Company Directors and member of the Australasian Institute of Mining and Metallurgy.
Lindsay Dudfield is a geologist with over 40 years of experience in multi-commodity exploration, primarily within Australia. He held senior positions with the mineral divisions of Amoco and Exxon. In 1987, he became a founding director of Dalrymple Resources NL and spent the following eight years helping acquire and explore Dalrymple’s properties, leading to several greenfield discoveries. In late 1994, Lindsay joined the board of Horizon Mining NL (Jindalee Lithium’s predecessor) and has been responsible for managing Jindalee Lithium since inception. Lindsay is a member of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists, the Geological Society of Australia and the Society of Economic Geologists. He is also a non-executive director of Jindalee spin-out companies Energy Metals (ASX:EME), Dynamic Metals (ASX:DYM) and Alchemy Resources (ASX:ALY).
Wayne Zekulich was appointed to the board as Chair on 1 February 2024. He holds a Bachelor of Business and is a fellow of the Institute of Chartered Accountants. Zekulich is a consultant and non-executive director who has substantial experience in advising, structuring and financing transactions in the infrastructure and resources sectors. He was previously the head of Rothschild in Perth, chief financial officer of Gindalbie Metals Limited, chief development officer of Oakajee Port and Rail and a consultant to a global investment bank. Currently, he is chair of Pantoro (ASX:PNR) and non-executive director of the Western Australian Treasury Corporation. In the not-for-profit sector, he is the past chair of the Lester Prize and is a mentor in the Kilfinan program.
Darren Wates is a corporate lawyer with over 23 years of experience in equity capital markets, mergers and acquisitions, resources, project acquisitions/divestments and corporate governance gained through private practice and in-house roles in Western Australia. Wates is the founder and principal of Corpex Legal, a Perth-based legal practice providing corporate, commercial and resources related legal services, primarily to small and mid-cap ASX listed companies. In this role, he has provided consulting general counsel services to ASX listed company Neometals (ASX:NMT), having previously been employed as legal counsel of Neometals. Wates holds Bachelor's degrees in Law and Commerce and a Graduate Diploma in Applied Finance and Investment.
Paul Brown has over 23 years of experience in the mining industry, most recently with Mineral Resources (ASX:MIN) where he was chief executive – lithium, and chief executive – commodities. Brown has held senior operating roles with Leighton, HWE and Fortescue (ASX:FMG) and has a strong track record in technical leadership, project/studies management, and mine planning and management. Brown is currently CEO of Core Lithium (ASX:CXO). He holds a Master in Mine Engineering.
Game-changing, economically significant lithium resource for North American battery supply chain
Jindalee will be attending the PDAC Convention in Toronto, Canada over 2-5 March 2025
Jindalee will present to a North American investor audience at Redcloud's 13th annual Pre-PDAC Mining Showcase in Toronto over 27-28 February 2025
Redcloud is a Canadian-based investor relations group specialising in the junior resources sector
Jindalee Lithium Limited (ASX: JLL) (OTCQX: JNDAF) (Jindalee, the Company) is pleased to announce that the Company will participate in both the Prospectors and Developers Association of Canada (PDAC) Convention and the Pre-PDAC Mining Showcase, hosted by Redcloud Financial Services Inc. (Redcloud), a globally oriented resource focused financial services platform.
Jindalee can be found at booth 2606 in the Investors Exchange Exhibition Room at the PDAC Convention which will be attended by Jindalee's Chief Executive Officer, Ian Rodger. PDAC, regarded as one of the world's premier resources conferences, will run from Sunday, 2 March 2025 until Wednesday, 5 March 2025 at the Metro Toronto Convention Centre in Ontario, Canada.
Jindalee is also participating in Redcloud's Pre-PDAC Mining Showcase at the Omni King Edward Hotel in Toronto over Thursday 27 and Friday, 28 February 2025. Ian will be presenting at the Pre-PDAC Mining Showcase at 4.00pm local time on Friday, 28 February 2025. Jindalee will also be available to engage with investors in one-on-one meetings at the Pre-PDAC Mining Showcase and encourages interested investors to register for the event.
Jindalee looks forward to updating the North American mining and investment communities on progress at its 100% owned McDermitt Lithium Project which hosts one of the largest lithium resources in the U.S. The Pre-Feasibility Study at McDermitt, released in November 2024, outlines a highly robust multi-generational battery chemicals project1.
To register for the PDAC Convention visit here: https://pdac.ca/convention-2025/attending-2025/registration-2025
For more information and to register for the Pre-PDAC Conference please visit: https://redcloudfs.com/prepdac2025/
Authorised for release by the Jindalee Board of Directors. For further information please contact:
| LINDSAY DUDFIELD | IAN RODGER |
| Executive Director | Chief Executive Officer |
| T: + 61 8 9321 7550 | T: + 61 8 9321 7550 |
| E: enquiry@jindaleelithium.com | E: enquiry@jindaleelithium.com |
Â
About Jindalee
Jindalee Lithium is an Australian company focused on developing the McDermitt Lithium Project, one of the largest lithium resources in the U.S. With 100% ownership and unencumbered offtake rights, Jindalee is strategically positioned to support America's energy security and domestic supply of critical minerals. The Company recently completed a Pre-Feasibility Study (PFS) confirming McDermitt's scale, long-life, and low-cost production potential, with strong engagement from U.S. government agencies, including the Department of Energy and Department of Defense. As a deeply undervalued lithium developer, Jindalee presents a compelling investment opportunity ahead of the next lithium market upcycle.
Competent Persons Statement
The Company confirms that it is not aware of any further new information or data that materially affects the information included in the original market announcements by Jindalee Lithium Limited referenced in this report and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. To the extent disclosed above, the Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
Forward-Looking Statements
This document may contain certain forward-looking statements. Forward-looking statements include but are not limited to statements concerning Jindalee Lithium Limited's (Jindalee's) current expectations, estimates and projections about the industry in which Jindalee operates, and beliefs and assumptions regarding Jindalee's future performance. When used in this document, the words such as "anticipate", "could", "plan", "estimate", "expects", "seeks", "intends", "may", "potential", "should", and similar expressions are forward-looking statements. Although Jindalee believes that its expectations reflected in these forward-looking statements are reasonable, such statements are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Jindalee and no assurance can be given that actual results will be consistent with these forward-looking statements.
________________________
1Jindalee Lithium ASX announcement 19/11/2024: "McDermitt Lithium Project Pre-Feasibility Study"
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241723
News Provided by Newsfile via QuoteMedia
Aben Minerals Ltd. (TSX-V: ABM ) (OTCQB: ABNAF ) (Frankfurt: R26 ) ("Aben" or "the Company") announces that it is proceeding with a name change from Aben Minerals Ltd. to Aben Gold Corp.
The Company's share capitalization and trading symbol will remain the same.
The name change is subject to the acceptance of the TSX Venture Exchange. The Company shall issue a subsequent news release confirming the effective date of the name change.
The Company purchased the domain rights to www.abengold.com and www.abengold.ca, the Company's website url will be www.abengold.com upon completion and approval.
About Aben Minerals:
Aben Minerals is a Canadian gold exploration company with exploration projects in the Yukon Territory and British Columbia. The Company's flagship, the 7,400-hectare, 100% owned Justin Gold Project is located in the southeast Yukon in the Tintina Gold Belt adjacent to Seabridge Gold's 3 Aces Project. Aben Minerals also owns 100% of the Forrest Kerr Gold Project located in the Golden Triangle of British Columbia and shares claims borders with Skeena's KSP Project, and Seabridge Gold's Iskut Project.
The Company's goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favourable jurisdictions.
The Company has 23.2 million shares outstanding.
For further information on Aben Minerals Ltd. (TSX-V: ABM ), visit our Company's website at www.abenminerals.com .
ABEN MINERALS LTD.
"Riley Trimble"
______________________
Riley Trimble Â
President & CEO
For further information contact:
Aben Minerals Ltd.
Riley Trimble, President & CEO
Telephone: 604-639-3852
Facsimile: 604-687-3119
Email: info@abenminerals.com
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.
This release includes certain statements that may be deemed to be "forward-looking statements". 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.sedarplus.ca for further information.
News Provided by GlobeNewswire via QuoteMedia
(TheNewswire)
 | |||||||||
 |  |  |  |  | |||||
Vancouver, British Columbia TheNewswire - April 14, 2025, VanadiumCorp Resource Inc. (TSX-V: VRB) (FSE: NWNA) (OTC: VRBFF) VanadiumCorp (the "Company") engaged CAUR Technologies December 2024 to conduct an Ambient Noise Tomography (ANT) survey to characterize the Lac Doré deposit located on VanadiumCorp's property near Chibougamau, Quebec. Ambient Noise Tomography is a passive technique that records ambient vibrations using seismic sensors. This method allows for the modelling of underground structures and provides detailed information on S-wave velocities.
The scope of the project includes creating a synthetic velocity model, optimizing the sensor network design, and recording seismic noise using 104 triaxial sensors. Additionally, the project involves managing and archiving the seismic data collected. The final report will detail the survey design, field campaign, data collected, data analysis, the final S-wave velocity model, and geological interpretations.
ATN Progress Report
Initial planning focused on designing the sensor layout to optimize the imaging of the Lac Doré deposit. Fieldwork at the Lac Doré property started during the week of December 22, 2024. Initial activities included land surveying, reconnaissance, and the placement of sensor positions in preparation for deployment. Geophone deployment was completed in March, and data recording will conclude at the end of April. Following this, data processing will begin on the 3D geophysical interpretation model, which is expected to take approximately four to six weeks.
The goal of the Ambient Noise Tomography Survey is to develop an updated geological and structural model. This model will be used in the revision of the "NI 43-101" report which was including VTM Resource, which was released in 2020 and is classified as a historical estimate.
Financing
The Company has submitted documents to the TSX Venture Exchange (the "Exchange") to seek conditional approval for the announced financing, which includes the closing of a second tranche that will generate gross proceeds of $50,000.00. This tranche involves the issuance of 454,545 Units to arm's-length subscribers. Additionally, the Company may pay finders' fees in cash and warrants, which will have the same terms as the Unit Warrants. Furthermore, in order to accommodate changes in the Quebec flow-through tax regulations announced March 25, 2025 the Company has received approval to extend the announced financing to May 14, 2025.
All shares issued as part of this financing, as well as any shares resulting from the exercise of warrants, will be subject to a four-month hold period from the closing date. The financing is contingent upon approval from the TSXV Exchange.
Net proceeds from the financing will be used for exploration and metallurgical testing of the Company's wholly-owned mineral properties, electrolyte plant, and general corporate purposes.
Director of VanadiumCorp Andre Gauthier, P. Eng., P.GEO is the qualified person (as defined in NI 43-101) who has reviewed this news release.
Additional information about Vanadiumcorp can be found on its website, and you can review its profile on SEDAR+ at www.sedarplus.ca .
About VanadiumCorp Resource Inc.
VanadiumCorp is a Canadian critical metals exploration company owning 100% of two strategic properties in Quebec: The Iron T and the flagship Lac Doré property. The company is advancing innovative technologies to extract vanadium-titanium and potentially high-grade iron from its vanadiferous titanomagnetite projects. The successful implementation of these technologies is expected to ensure a stable, long-term supply of the company's critical metal deposits, which includes vanadium feedstock for its inaugural electrolyte production facility situated in Val-des-Sources, Quebec. This electrolyte plant will serve a dual purpose: evaluating the quality of outputs from the Lac Doré pilot plant and facilitating the recycling of electrolyte. Furthermore, the company intends to expand its production of electrolytes for the international market, specifically for long-duration Vanadium Flow Batteries (VRBs).
On behalf of the Board of VanadiumCorp Resource Inc.
"Kristien Davenport"
President and Director
VANADIUMCORP RESOURCES INC.
Company contact information: For more information , please visit the company website
Email: info@vanadiumcorp.com  www.vanadiumcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This document may contain forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) regarding, among other things, VanadiumCorp's business. and the environment in which it operates. In general, forward-looking statements can be identified by the use of words such as "anticipates", "expects" or "does not expect", "is expected", "budget", "forecast", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "could" or "will be taken", "occur" or "will be achieved". VanadiumCorp relies on a number of assumptions and estimates to make these forward-looking statements, including, without limitation, the ability to acquire the necessary permits and authorizations to advance the Lac Doré property to the production stage, the ability to add to existing resources at Lac Doré through drilling, the costs associated with the development and operation of its properties. These assumptions and estimates are made in light of forecasts and conditions that are considered relevant and reasonable based on available information and current circumstances. A number of risk factors may cause actual results, level of activity, performance or results of such exploration and/or mine development to differ materially from those expressed or implied by such forward-looking statements, including, without limitation, whether such discoveries will result in commercially viable quantities of such mineralized materials, the ability to modify project parameters as plans continue to be refined, the ability to execute planned future exploration and drilling programs, the need for additional financing to continue exploration and development efforts, changes in general economic, market and business conditions, and other risks outlined in VanadiumCorp's latest Annual Information Form under the heading "Risk Factors" and in its other public documents. Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and that may be beyond VanadiumCorp's control. Although VanadiumCorp has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, undue reliance should not be placed on these forward-looking statements. In addition, all forward-looking statements in this press release are made as of the date of this press release. VanadiumCorp disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The forward-looking statements contained herein are expressly qualified by this disclaimer.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the "Company", or "ACME") is pleased to announce that it has signed a purchase agreement for a 90% interest in 31 unpatented lode mining claims comprising the Cimarron Gold Project ("Project") in Nye County, Nevada from Crestview Exploration Inc. (CSE: CRS) ("CRS"). The Project is a high grade, highly prospective exploration opportunity with a drill-indicated historic gold resource, and a second target area with mineralized drill intercepts that remain open in several directions.
ACME's 90% interest in the Project will be acquired for aggregate consideration of US$149,000 in cash and 1,000,000 Shares (collectively the "Purchase Price"), delivered as follows:
Upon payment of the Purchase Price in full, ACME will own a 90% interest in the Project, and CRS will own a 10% interest in the Project. Thereafter, ACME will be responsible for all exploration and development costs of the Project up to and until such time as it has received a Preliminary Economic Assessment pertaining to all or any part of the Project (the "Trigger Date"). Until the Trigger Date, ACME will have full discretion as to operations involving the Project, including any disposition thereof.
After the Trigger Date a joint venture will then be formed between ACME and CRS and an accompanying definitive agreement governing the same will be entered into by the Parties for further ownership and development of the Project (the "Joint Venture"), which agreement will include the following basic terms:
THE PROJECT
Located at the north end of the San Antonio Mountains in the historic San Antonio (Cimarron) Mining District, the Project is approximately eighteen miles north of Tonopah in Nye County, Nevada. It comprises 31 unpatented lode mining claims near the historic San Antonio Mine workings and immediately adjacent ground. The prospect has drill ready targets, subject to permitting, and offers a significant opportunity to establish a NI43-101 compliant gold resource.
Regionally, the Project is at the intersection of two prominent gold trends: the Walker-Lane trend which runs approximately NW and hosts a number of mines including Bullfrog, Goldfield, and Rawhide; and an approximately NNE trend of gold mines including Manhattan, Gold Hill, and Kinross's "world-class" Round Mountain, which is located 28 miles away, and recorded over 15 million ounces of gold as of 2021.
Project Highlights:
Figure 1: Location Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7776/248039_c381706c14213bf2_002full.jpg
Exploration by both major and junior mining companies from 1980 through 2004, including Newmont and Echo Bay, identified gold mineralization in three discrete areas in the immediate Cimarron Mine area.
Sampling of surface outcrops and underground adits by previous explorers reported gold assays from quartz-adularia-quartz veining as high as 107 g/t and 30.2 g/t (3.12 and 0.88 oz/ton, respectively). Table 1 lists examples of high-grade assays collected by the various mining groups (Bullion River Gold Corp., Feb. 2004).
Table 1: Historic High Grade Rock Chip Samples
(Bullion River Gold Corp. Fact Sheet, 2004)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7776/248039_c381706c14213bf2_003full.jpg
Drill testing by Newmont, Budge Mining Ltd, Echo Bay, and Romarco demonstrated continuity of lower grade gold mineralization in three discrete mineralized areas at Cimarron, as shown in Table 1 and tabulated in Table 2 (resources non-compliant NI43-101). Higher grade gold intercepts were not uncommon or restricted to any particular explorer.
Table 2: Selected Drill Intercepts in Resource and Target Areas
(Bullion River Gold Corp. Fact Sheet, 2004)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7776/248039_c381706c14213bf2_004full.jpg
Echo Bay estimated a total gold resource in 1987 of over 50,000 ounces of gold within a block of about 1,500,000 tons of material in the West, East and Central Zones combined.
Table 3 Historic Resource Estimate*
* (polygonal calculation - A.F. Budge (Mining) Ltd. - 1986)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7776/248039_c381706c14213bf2_005full.jpg
This resource is not considered to be compliant with NI 43-101 standards. Additional drilling with application of proper standards and check assays would be required to verify this historical estimate. A qualified person has not done sufficient work to classify the estimate as a current mineral resource or mineral reserve. ACME is not treating this historical estimate as a current mineral resource or mineral reserve.
In 2021, Crestview drilled 4 diamond core holes in the known resource area. All of the holes intercepted anomalous mineralization. SA-01 and SA-03 were drilled approximately 200 meters apart and each intercepted significant zones of gold mineralization which may represent a wide area of oxide, heap-leachable gold mineralization starting at or near surface.
Table 4: Summary of 2021 Drilling Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7776/248039_c381706c14213bf2_006full.jpg
Cimarron represents a high quality early-stage exploration project with a drill-indicated historic resource and a target area with mineralized drill intercepts that remain open in several directions.
CORPORATE UPDATE
ACME intends to complete a consolidation of its authorized and issued common shares on the basis of one (1) post-consolidated common share for each three (3) pre-consolidation common shares (the "Consolidation").
On a pre-Consolidation basis, the Company currently has 77,972,727 common shares issued and outstanding. Following the Consolidation the Company expects to have approximately 25,990,909 post-Consolidation common shares issued and outstanding. No fractional common shares will be issued because of the Consolidation. Any fractional common share resulting from the Consolidation will be rounded up in the case of a fractional interest that is one-half (1/2) of a common share or greater, or rounded down in case of a fractional interest that is less than one half (1/2) of a common share, and no cash consideration will be paid in respect of any fractional common share rounded down to the nearest whole common share.
All outstanding stock options and share purchase warrants of the Company will also be adjusted by the Consolidation ratio and the respective exercise prices of outstanding options and share purchase warrants will be adjusted accordingly.
The Company believes that the Consolidation will provide the Company with greater flexibility for the development of its business and the growth of the Company, including financing arrangements.
In conjunction with the Consolidation, the Company will be adopting a new name subject to the approval of the CSE.
The Consolidation and name change are subject to the approval of the Canadian Securities Exchange (CSE). In accordance with the Company's Articles, neither the Consolidation nor the name change will require shareholder approval. The record date and effective date of the Consolidation and name change, and the new CUSIP and ISIN numbers, will be disclosed in a subsequent news release.
ACME Lithium intends to complete a private placement financing of up to CAD$800,000. The CEO of ACME has loaned the Company CAD$180,000 to complete the Cimarron transaction which will be repaid from the proceeds of the financing.
ACME will retain its current lithium property interests for future development, and will focus in the near term on the advancement of the Cimarron Gold Project.
Qualified Person
Scientific and technical information contained in this document has been reviewed and approved by Bill Feyerabend CPG who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About ACME Lithium Inc.
ACME Lithium is a mineral exploration company focused on acquiring, exploring, and developing battery and precious metal projects in partnership with leading technology and commodity companies in North America. ACME is advancing and developing a lithium brine resource at Clayton and Fish Lake Valley, Nevada and has entered into a strategic exploration agreement with leading partner at a group of projects in the pegmatite region of Shatford, Birse and Cat-Euclid Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President, and Director
Telephone: (604) 564-9045
info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release contains certain statements which may constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. There is no assurance that (i) the acquisition of the Cimarron Project will close on the terms outlined above, or at all; (ii) all of the conditions required to close the acquisition will be satisfied; (iii) the concurrent private placement will be completed; or (iv) that CSE approval to the acquisition will be received. ACME's project location adjacent to or nearby lithium projects does not guarantee exploration success or that mineral resources or reserves will be defined on ACME's properties. Exploration, development, and activities conducted by regional companies provide assistance and additional data for exploration work being completed by ACME. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Unless otherwise indicated, the market and industry data contained herein is based upon information from industry and other publications and the knowledge and experience of management. While we believe that this data is reliable, market and industry data is subject to variations and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey. We have not independently verified any of the data from third-party sources referred to in this news release or ascertained the underlying assumptions relied upon by such sources. All technical and scientific disclosure pertaining to our mineral property interests in this news release have been reviewed by a Qualified Person, meaning an individual who is an engineer or geoscientist with at least five years of experience in mineral exploration, mine development or operation or mineral project assessment, or any combination of these; has experience relevant to the subject matter of the mineral project and the technical report; and is a member or licensee in good standing of a professional association.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248039
News Provided by Newsfile via QuoteMedia