Lancaster Resources MT Results Show Strong Lithium Targets

Lancaster Resources MT Results Show Strong Lithium Targets

Lancaster Resources Inc. (CSE: LCR) (OTC Pink: LANRF) (FSE: 6UF0) ("Lancaster") is pleased to announce results from its Magneto-Telluric (MT) geophysics program at Lancaster's Alkali Flat Lithium Project located in Lordsburg, New Mexico, USA. The MT program targeted highly conductive stratigraphic units (layers) to further delineate drill targets in a highly prospective area on the NE part of the property.

KLM Geoscience successfully completed the detailed MT program including data acquisition and inversions. The MT survey consisted of three east-west lines with ~500m spacing between receivers and lines.

The MT results along with Lancaster's recent exploratory and geochemical results have highlighted multiple high priority drill locations believed to host lithium-rich aquifers. Results indicate a near surface low resistivity layer ~150m deep along with a deeper low resistivity layer at ~660m sub-surface. Results also confirm the N-S trending basin continues from Arizona Lithium claims through Lancaster's property.

With the exciting progress made over the last few months, Lancaster is now preparing regulatory and permitting applications for a Phase 1 Drilling program in late 2023. Lancaster is preparing applications to the BLM and EMNRD (New Mexico) for three wells and a follow up full claim area geophysics program (2024).

"The results are extremely encouraging and we are planning to proceed with further exploration and development work. The successful MT program strengthens our view on the opportunity of Alkali Flats containing a concentrated lithium subsurface aquifer. Submitting our regulatory applications for follow up drilling is our next priority as we continue to develop Alkali Flats to power the energy transition," remarks Andrew Watson, Vice President of Engineering and Operations at Lancaster.

The Alkali Flats Lithium Project and the MT survey target area lie about 8 miles north of the renowned 15MW Lightning Dock Known Geothermal Resource Area (KGRA). The company will continue to review co-production opportunities with clean geothermal power on the claim area to provide clean power for future lithium development. Additionally, the target area is immediately adjacent to Arizona Lithium's Lordsburg Brine Project.

Andrew Watson, PEng, a qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About Lancaster Resources Inc.

Lancaster Resources is engaged in exploring energy transition metals to take advantage of the global shift towards decarbonization and electrification. It has an interest to acquire 100% of the Alkali Flat Lithium Project, in Lordsburg, New Mexico, USA, which involves the exploration of a below-surface lithium brine target. Lancaster's goal is to produce Climate-Positive Lithium there using direct lithium extraction technology and solar power. Lancaster recently acquired the rights to a 100% interest in the Trans-Taiga Lithium Property located within the James Bay lithium district of Quebec, and lying on the same fault as significant lithium discoveries, including Patriot Metals' Corvette Property. Lancaster plans to conduct exploration activities with a holistic view of stakeholder interests. Guiding Lancaster Resources' journey is a skilled management and technical team, with collective involvement in over 15 commercial mineral discoveries, and endowed with extensive experience in the creation of lithium brine targets and the exploration and development of Lithium projects across Canada, the American West, Mexico, and South America.

Penny White, President & Chief Executive Officer, Lancaster Resources Inc.
penny@lancasterlithium.com
Tel: 604 923 6100

www.lancaster-resources.com

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events, or Lancaster's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Lancaster's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the ability of Lancaster to execute its exploration plans, obtain exploration and drilling permits retain key personnel, identify, acquire, explore, and develop high-quality mineral-rich properties and integrate sustainable energy sources and innovative technologies for climate-positive resource production constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information.

Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. Lancaster disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180576

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Lancaster Resources Applies for Drilling Permits for Maiden Drill Program on the Alkali Flat Lithium Brine Project

Lancaster Resources Applies for Drilling Permits for Maiden Drill Program on the Alkali Flat Lithium Brine Project

Lancaster Resources Inc. (CSE: LCR) (OTC Pink: LANRF) (FSE: 6UF0) ("Lancaster"), has submitted applications to the State of New Mexico Energy, Mines, and Natural Resources Department (EMNRD) and Bureau of Land Management (BLM) to drill up to three wells targeting both shallow and deep conductive layers on its Alkali Flat Lithium Brine Project near Lordsburg, New Mexico.

The targets were identified by Lancaster's geological team following the success of Lancaster's recent MT (Magneto-Telluric) Geophysics program, which highlighted multiple highly conductive subsurface aquifers and zones of interest.

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Lancaster Resources Signs Definitive Agreement to Acquire Lithium Project in Quebec's Prolific James Bay Region

Lancaster Resources Signs Definitive Agreement to Acquire Lithium Project in Quebec's Prolific James Bay Region

Lancaster Resources Inc. (CSE: LCR) (OTC Pink: LANRF) (FSE: 6UF0) ("Lancaster"), is pleased to announce that on August 29, 2023, Lancaser entered into a definitive agreement (the "Agreement") to acquire 100% of the Trans Taiga Lithium Project (the "Property") in the Eeyou Istchee James Bay region of Quebec. The Property, hosting several historical pegmatite samples, lies ~120 km west of Patriot Battery Metals' Corvette Project, ~74 km west of Winsome Resources' Cancet Project, and a few kilometers east of Loyal Lithium's Brisk Lithium Project.

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Lancaster Resources Advances MT Survey at Alkali Flat to Pinpoint Drilling Targets

Lancaster Resources Advances MT Survey at Alkali Flat to Pinpoint Drilling Targets

Lancaster Resources Inc. (CSE: LCR) (OTC Pink: LANRF) (FRA: 6UF0) ("Lancaster"), is pleased to announce KLM Geophysics is commencing the Magneto-Telluric (MT) geophysics program at Lancaster's Alkali Flat Lithium Project located in Lordsburg, New Mexico, USA. The MT program is targeting highly conductive stratigraphic units (layers) to further delineate drill targets in a highly prospective area on the NE part of the property.

Within the next few weeks, Lancaster anticipates receiving survey results, which management expects will guide them in identifying clear drilling targets.

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Significant Opportunities Seen at Lancaster Resources' Alkali Flat Lithium Project

Significant Opportunities Seen at Lancaster Resources' Alkali Flat Lithium Project

Lancaster Resources Inc. (CSE: LCR) (OTC Pink: LANRF) (FSE: 6UF0) ("Lancaster"), is very pleased to announce the filing of annual renewals of BLM claims as part of the Alkali Flats option agreement to acquire a 100% interest in the Alkali Flat Lithium Project. The annual filing with the BLM includes the original 67 claims for the Project along with a significant addition of 193 claims under the Area of Interest provisions under the option agreement. These 260 claims build out a contiguous mineral placer claim asset base over the heart of the Alkali Flats playa near Lordsburg, New Mexico.

Spanning ~5,200 acres, the claims cover the majority of the Alkali Flat playa and present significant exploration opportunities on leases with surface sediment concentrations up to ~149ppm Lithium.

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Lancaster Resources Inc. Engages KLM to Conduct Magneto-Telluric  Surveys at its Alkali Flat Lithium Project

Lancaster Resources Inc. Engages KLM to Conduct Magneto-Telluric Surveys at its Alkali Flat Lithium Project

Lancaster Resources Inc. (CSE: LCR) (OTC Pink: LANRF) (FSE: 6UF0) ("Lancaster"), is pleased to announce it has engaged KLM Geophysics to conduct a Magneto-telluric (MT) Survey at its Alkali Flat Lithium Project in Lordsburg, New Mexico, USA to target highly conductive statigraphic units (layers) to further delineate drill targets in a highly prospective area on the NE part of the property.

"Drawing on our recent exploration results, we've pinpointed a promising location that we suspect hosts a lithium brine-rich aquifer," shares Andrew Watson, Lancaster's Vice President of Engineering and Operations. "Our next steps will involve integrating MT survey data with the dataset from Arizona Lithium's published exploration results and our own geochemical and conductivity findings. This systematic approach should allow us to refine our drilling targets with the goal of discovering a lithium brine-filled aquifer."

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TSX Venture Exchange Stock Maintenance Bulletins

TSX Venture Exchange Stock Maintenance Bulletins

TSX VENTURE COMPANIES

ORGANTO FOODS INC. ("OGO ")
BULLETIN TYPE:  Consolidation
BULLETIN DATE: September 27, 2023 .
TSX Venture Tier 2 Company

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Canadian Investment Regulatory Organization Trade Resumption - LIT

Canadian Investment Regulatory Organization Trade Resumption - LIT

Trading resumes in:

Company: Argentina Lithium & Energy Corp.

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Argentina Lithium Announces US$90 Million Investment by Stellantis in ARS$ Equivalent

Argentina Lithium Announces US$90 Million Investment by Stellantis in ARS$ Equivalent

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQB Venture Market (OTC): PNXLF

Argentina Lithium & Energy Logo (CNW Group/Argentina Lithium & Energy Corp.)

VANCOUVER, BC , Sept. 27, 2023 /CNW/ - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) , ("Argentina Lithium" or the "Company") is pleased to announce that it has entered into a definitive agreement (the " Investment Agreement ") on September 26, 2023 , for the ARS$ equivalent of a US$90 million 1 investment in Argentina Litio y Energia S.A. (" ALE "), by Stellantis (defined below) (the "Transaction"), one of the world's leading automakers and mobility providers with iconic brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep ® , Lancia, Maserati, Opel, Peugeot, RAM, Vauxhall , Free2Move and Leasys.

Pursuant to the Transaction, Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V. (" Stellantis "), has agreed to invest the ARS$ equivalent of US$90 million 1 in Argentina to acquire shares of ALE (the " ALE Shares "). Further, the Company has granted Stellantis the Exchange Right (as defined below) to exchange all of the ALE Shares for up to 19.9% of the outstanding common shares of Argentina Lithium (on an undiluted basis) (" Common Shares ") in the future, subject to certain conditions. The proceeds of the Transaction will be used to advance development of the Company's lithium projects held through its wholly owned subsidiary in Argentina , and for general corporate purposes.

As a result of the Transaction, Stellantis will own 19.9% of the issued and outstanding ALE Shares and Argentina Lithium will own 80.1%.

Argentina Lithium President & Chief Executive Officer Nikolaos Cacos said: "We are delighted to have Stellantis as a partner in the future development of our lithium projects in Argentina . Together, we share a vision to build a sustainable lithium mining operation for the future. We look forward to a strong and successful relationship with Stellantis and we are committed to delivering a sustainable lithium product that will contribute to the electrification of transportation and the protection of our atmosphere."

At closing of the Transaction, Argentina Lithium and Stellantis will enter into an exchange agreement (the " Exchange Agreement "). Under the Exchange Agreement, Argentina Lithium will grant Stellantis an irrevocable right (the " Exchange Right ") to exchange all of the ALE Shares then held by Stellantis for such number of Common Shares equaling 24.844% of (i) the outstanding Common Shares (on an undiluted basis) as of the date of the Exchange Agreement and (ii) Common Shares issued by Argentina Lithium (between the date of the Exchange Agreement and the date Stellantis exercises the Exchange Right) upon the exercise of warrants, stock options or other securities convertible or exchangeable into Common Shares existing as of the date of the Exchange Agreement (together, the " Exchange Shares "), subject to certain exchange conditions. Following the issuance of Exchange Shares, Stellantis will own at most 19.9% of the Common Shares (on an undiluted basis). In addition, Argentina Lithium will grant Stellantis an irrevocable right (the " Top-Up Right ") to subscribe for additional Common Shares (the " Additional Shares ") if necessary for Stellantis to achieve a 19.9% interest in the Common Shares (on an undiluted basis). Any Additional Shares Stellantis elects to purchase pursuant to the Top-Up Right will be issued at the maximum discounted market price permitted under the rules and policies of the TSXV, unless the Top-Up Right is exercised after an acquisition of Argentina Lithium, in which case the subscription price under the Top-Up Right will be the pre-announcement market price of shares of Argentina Lithium. Any issuance of Additional Shares will be subject to the prior approval of the TSXV. Stellantis will not have the right under the Exchange Right and the Top-Up Right to acquire more than 19.9% of the outstanding Common Shares following the issuance of Exchange Shares and Additional Shares, if any. The Exchange Agreement also provides Stellantis with observer rights to attend board meetings of Argentina Lithium for as long as Stellantis owns at least 10% of the issued and outstanding ALE Shares. As of the date hereof, the Company has 130,065,319 Common Shares, 11,341,000 stock options and 71,836,067 warrants issued and outstanding. Accordingly, subject to any adjustments under the Exchange Agreement, the maximum number of "Exchange Shares" that will be issued to Stellantis as consideration for its indirect investment in Argentina Lithium will be 53,011,137 Common Shares .

Argentina Lithium and Stellantis will enter into a Lithium Offtake Agreement (the " Offtake Agreement "). Under the Offtake Agreement, ALE has agreed to sell to Stellantis, and Stellantis has agreed to purchase from ALE up to 15,000 tonnes per annum of lithium produced by ALE over a seven-year period (the " Supply Obligation ") subject to the terms and conditions set out in the Offtake Agreement. After the initial seven-year term, the Offtake Agreement may be extended by mutual agreement for an additional number of years. The price of lithium products sold by ALE under the Offtake Agreement will be based on an agreed market-based price formula at the time of each shipment. The commencement of the Supply Obligation of ALE is conditional on the successful start of commercial production at one or more of its projects. The Offtake Agreement also contains certain product qualification, certification and reporting requirements and provides Stellantis with a right to acquire any production prior to the commencement of the Supply Obligation and a right of first refusal on the sale to third parties of any lithium products (in excess of the Supply Obligation) after the commencement of commercial production.

Argentina Lithium, ALE and Stellantis will enter into a Shareholders' Agreement (the " Shareholders' Agreement ") relating to ALE and Stellantis' ownership of ALE Shares and provides for the following principal terms:

  • right of Stellantis to nominate one director to the board of directors of ALE (" Stellantis Director ") for as long as Stellantis has an ownership position of not less than 10% of the issued and outstanding ALE Shares;
  • certain corporate decisions of ALE may not be undertaken without the affirmative vote the Stellantis Director or the approval by shareholders holding more than 90% of the issued and outstanding ALE Shares;
  • right of each shareholder to maintain its ownership percentage in any equity offerings by ALE;
  • transfer restrictions including, rights of first refusal, drag-along and tag-along rights;
  • right of first offer for Stellantis to provide project financing and any other borrowing by ALE; and
  • other terms and conditions consistent with a transaction of this nature.

In addition, upon exercise of the Exchange Right, Argentina Lithium will enter into an Investor Rights Agreement with Stellantis (the " Stellantis IRA "). The Stellantis IRA provides for the following principal terms in favour of Stellantis:

  • a right to nominate one director to the board of directors of Argentina Lithium for as long as Stellantis has an ownership position of not less than 10% of the issued and outstanding Common Shares;
  • pre-emptive right to maintain ownership percentage in certain follow-on issuances of Common Shares or securities convertible into Common Shares; and
  • other terms and conditions consistent with a transaction of this nature.
Transaction Conditions and Timing

Closing of the Transaction is subject to Argentina Lithium obtaining TSXV approval, ALE completing certain corporate actions relating to the Transaction and other closing conditions set out in the Investment Agreement.

The Transaction is anticipated to close on or about October 4, 2023 .

Advisors and Fairness Opinions

PI Financial Corp. is acting as financial advisor to Argentina Lithium in connection with the Transaction. The Board of Directors of Argentina Lithium has received a fairness opinion from PI Financial Corp, stating that, as of the date of such opinion, and based upon and subject to the assumptions, limitations and qualifications stated in such opinion, the consideration to be received by the Company pursuant to the Transaction is fair, from a financial point of view, to Argentina Lithium shareholders. Blakes, Cassels & Graydon LLP acted as Canadian legal counsel and Alfaro-Abogados SC acted as Argentinian legal counsel to Argentina Lithium in connection with the Transaction.

About Stellantis

Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world's leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today's customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep ® , Lancia, Maserati, Opel, Peugeot, RAM, Vauxhall , Free2Move and Leasys. Powered by their diversity, Stellantis leads the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com .

About Argentina Lithium

Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them toward production in order to meet the growing global demand from the battery sector. The management group has a long history of success in the resource sector of Argentina and has assembled a first-rate team of experts to acquire and advance the best lithium properties in the "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"

_______________________________
Nikolaos Cacos , President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, the Transaction; the use of proceeds; the strengths, characteristics and potential of the Transaction; Argentina Lithium's plans for, and the future prospects of, its mineral properties; entering into the Exchange Agreement; the exercise of the Exchange Right or the Top-Up Right by Stellantis; entering into the Offtake Agreement; production of lithium products and the successful start of commercial production at Argentina Lithium's mineral properties; entering into the Shareholders' Agreement and the Stellantis IRA; consummation and timing of the Transaction; and satisfaction of the conditions precedents are forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: failure to receive TSXV approval; failure to satisfy the condition precedents, the potential that the Transaction could be terminated under certain circumstances; the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.


___________________________


1 As per the official exchange rate of Argentina Central Bank

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SOURCE Argentina Lithium & Energy Corp.

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Electric Royalties Acquires Further Royalty Interest on Bissett Creek Graphite Project in Ontario, Canada

Electric Royalties Acquires Further Royalty Interest on Bissett Creek Graphite Project in Ontario, Canada

Electric Royalties Ltd. (TSXV:ELEC) (OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce that it has purchased an additional 0.5% Gross Revenue Royalty ("GRR") on the Bissett Creek graphite project in Ontario, Canada (the "Project" or "Bissett Creek"), operated by Northern Graphite Corporation (TSXV: NGC) ("Northern Graphite"), in exchange for a cash payment of C$950,000. Together with its existing 1% GRR on Bissett Creek, Electric Royalties now holds a 1.5% GRR on Bissett Creek

In connection with the purchase of the additional GRR, the Company has entered into an amended and restated royalty agreement with Northern Graphite on September 27, 2023. Pursuant to the terms of the amended agreement, in addition to the GRR on future production, Northern Graphite will make a separate fixed royalty payment to Electric Royalties in the total amount of C$200,000, payable in eight quarterly payments of C$25,000 for the next two years.

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Century Lithium Corp. to Present at the Metals and Mining Virtual Investor Conference October 3rd

Century Lithium Corp. to Present at the Metals and Mining Virtual Investor Conference October 3rd

Century Lithium Corp (TSX:V: LCE; OTCQX: CYDVF), based in Vancouver, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA., today announced that William Willoughby, President & CEO, will present live at the Metals and Mining Virtual Investor Conference, hosted by VirtualInvestorConferences.com, on October 3 rd 2023.

DATE : October 3 rd , 2023
TIME: 2:00 PM ET
LINK: https://bit.ly/44FOnTd
Available for 1x1 meetings: October 3

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Electric Royalties Provides Update on Four Royalties in Portfolio

Electric Royalties Provides Update on Four Royalties in Portfolio

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to provide the following update on its royalty portfolio

Brendan Yurik, CEO of Electric Royalties, commented: "It's been quite a summer of progress for our royalty portfolio with 19 updates from our asset partners over 4 months. We're especially excited about the most recent production update on our cash-flowing Penouta tin-tantalum royalty, on which we've increased our royalty rate to 1.5% gross revenue royalty in July.

"The management team at Strategic Minerals has done a fantastic job operationally at the Penouta mine. It's also exciting to note serious progress at Mont Sorcier, a large iron and vanadium asset in a top tier mining jurisdiction that is being advanced in partnership with Glencore. The process for project financing is moving ahead towards due diligence due to commence shortly."

Highlights since the Company's previous update on August 15, 2023:

  • Penouta Tin-Tantalum Mine (1.5% Gross Revenue Royalty) - On August 14, 2023, Strategic Minerals Europe Corp. (NEO:SNTA)(OTCQB:SNTAF) ("Strategic") reported its second quarter 2023 financial results. Highlights for the second quarter included record production, increasing 36% to 246 tonnes of primary concentrate at the Penouta Mine in Spain, compared to Q2 2022. Strategic also achieved record sales of 231 tonnes of concentrates and 154 tonnes of contained minerals, an increase of 40% and 38%, respectively, compared to the same period in 2022.
  • Mont Sorcier Iron and Vanadium Project (1.0% Gross Metal Royalty) - Further to Cerrado Gold Inc.'s (TSXV: CERT) ("Cerrado") news release on July 5, 2023 announcing its acceptance of an Expression of Interest from the UK Export Credit Agency to provide up to US$420 million of support for the Mont Sorcier Project near Chibougamau, Québec, Cerrado announced on September 5, 2023 that it has commenced the tender phase for the Mandated Lead Arranger (MLA) of its project financing program. The selection of the MLA is expected to be completed by the end of September, followed by detailed due diligence. The US$420 million amount represents 70% of the Mont Sorcier Project's total capital expenditure, interest payable during construction, political risk insurance premium and other approved expenditures.
  • Råna Nickel-Copper-Cobalt Project (1.0% Net Smelter Royalty) - On September 5, 2023, Global Energy Metals Corporation (TSXV: GEMC) ("Global Energy Metals") and its strategic partner Kingsrose Mining Limited (ASX: KRM) ("Kingsrose") announced analytical results from the first two diamond drill holes at the Bruvann prospect, Råna Project, Norway.

    Massive sulphide nickel-copper-cobalt mineralization was intersected in hole 23BRU001, which extends the mineralization 20 meters (m) southwest and on strike from a historical massive sulphide drill intercept. This intersection is located within 70 m of the inferred position of historical underground workings. A broad zone of disseminated sulphide mineralization was intersected in hole 23BRU003.

    According to Global Energy Metals, the drill results demonstrate that mineralization at Bruvann remains open along strike from existing mine infrastructure. Diamond drilling continues to test a number of targets identified by recent geophysical and geological studies.

    Electric Royalties is relying on the information provided by Global Energy Metals and is unable to verify the reported drill data.
  • Chubb Lithium Project (2.0% Gross Metal Royalty) - On August 29, 2023, Burley Minerals Ltd. (ASX: BUR) ("Burley") announced it has recommenced its latest drill program at the Chubb Project in Québec, Canada, comprising 3,000 to 4,000 m of diamond drilling. This program follows Burley's inaugural drill program which commenced in April 2023, culminating in the completion of 14 holes, with remaining results expected in September. The new drill program will continue to test for extensions to the Chubb Central Main Dyke both along strike and at depth, and also test for spodumene in mapped parallel pegmatite dykes.

    Burley announced on September 12, 2023 that it has commenced an initial metallurgical test work program at the Chubb Project to gather indications of spodumene recovery and spodumene beneficiation through typical spodumene processing circuits. The tests, conducted by SGS Laboratories in Québec, are expected to take up to four months to complete.

    On September 20, 2023, Burley announced the completion of geological mapping, field pXRF1 mineral geochemical vectors and geophysical surveys at the Chubb Project. The mapping and field mineral vectors determined that outcropping pegmatites at Chubb North target show fertility indicators consistent with lithium-cesium-tantalum pegmatites - opening a large, undrilled area at Chubb North. Burley has identified six targets and obtained additional approvals for drilling of the Chubb North pegmatite targets.

    Electric Royalties is relying on the information provided by Burley and is unable to verify the reported mapping and survey data.

David Gaunt, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.

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