ION Exploration Update - 100% Owned Lithium Salar Projects, Mongolia

Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is very pleased to share that initial geophysical surveys (seismic) have been successfully completed at the Company's 100% owned Baavhai Uul Lithium Salar Project in south eastern Mongolia. Initial results have been encouraging and the Company will now ramp up its exploration efforts with additional geophysics and drilling to commence in the coming quarter.

Highlights

  • Initial geophysics successfully completed at Baavhai Uul with early encouraging results.
  • Expanded exploration program to commence at Baavhai Uul which will include the first drilling for lithium salars ever in Mongolia.
  • Exploration to commence at the recently acquired 100% owned Urgakh Naran Lithium Salar Project with drilling and geophysics planned.
  • Fully funded exploration with $5.75m placement successfully completed in April.

"On the back of the recently completed private placement, the Company has no financing overhang and with a successful start to early exploration efforts, expects to deploy more than double the earlier anticipated resources to aggressively explore its highly prospective Mongolian Lithium Salar Projects.," said Ali Haji, CEO of ION Energy Ltd.

Expanded Exploration

The Company has now defined an expanded exploration program to fast track the exploration of its Lithium Salar Projects in Mongolia. This will include the drilling of 21 drill holes through the highlighted prospective basins. Sampling of sediments and aquifers will be completed during the drilling phase. This will be the first drilling ever completed on Lithium Salars in Mongolia. The Company will also commence a program of expanded seismic geophysics to aid with mapping the extent of the basin and aquifers intersected in drilling. The exploration program at Urgakh Naran will cover five salars located in the central part of the Urgakh Naran basin. The basin is centered on an area that is six kilometres wide and more than 20 km long.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/83798_f22cf3c644e6aa8d_002.jpg

Figure 1. Proposed Shallow Refraction Seismic Survey lines and drill hole location at Baavkhai-Uul project

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6906/83798_f22cf3c644e6aa8d_002full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/83798_f22cf3c644e6aa8d_003.jpg

Figure 2. Proposed Shallow Refraction Seismic Survey lines and drill hole location at Urgakh Naran project

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6906/83798_f22cf3c644e6aa8d_003full.jpg

The technical information disclosed in this news release has been reviewed and approved by Don Hains, P. Geo., a Qualified Person (QP) as defined in NI 43-101.

About ION Energy Ltd.

ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing Mongolia's lithium salars. 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. 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, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83798

News Provided by Newsfile via QuoteMedia

The Conversation (0)
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

×