"We invite all stakeholders to join us in our upcoming November 1, 2024, earnings call, details of which are below, to learn more about these exciting achievements."
Q3-2024 Highlights
Unless noted otherwise, all dollar amounts are in U.S. dollars.
Capitalizing on Strong Uranium Pricing:
Rare Earth Element Production Milestones:
Heavy Mineral Sands:
Vanadium Highlights:
Medical Isotope Highlights:
Mr. Chalmers continued:
"During the quarter, we achieved numerous additional milestones to bring the Energy Fuels' vision to fruition for our innovative, low-cost, U.S.-centered critical mineral supply chain. As previously announced, shortly after the close of the quarter, we successfully completed our acquisition of Base Resources. This is a major piece of our strategic puzzle, bringing to the Company the Base Resources management and operations team and the world-class Toliara Project in Madagascar, which is considered by industry experts to be one of the best HMS projects in the world. With the Toliara Project, our joint venture on the Donald Project in Australia, and our 100% ownership of the Bahia Project, we have secured a leading position in the titanium and zirconium mineral industry, in addition to a low-cost source of REE feedstock that will be processed in the United States.
"These developments have the potential to transform Energy Fuels into a world leader in titanium, zirconium, and rare earth elements production, while maintaining our position as a U.S. leader in uranium and vanadium production. All these materials are critical to the global energy transition and to our vision of creating a leading diversified critical minerals company."
Conference Call and Webcast at 10:00 AM MT (12:00 pm ET) on November 1, 2024:
Conference call access with the ability to ask questions:
To instantly join the conference call by phone, please use the following link to easily register your name and phone number. After registering, you will receive a call immediately and be placed into the conference call
or
Alternatively, you may dial in to the conference call where you will be connected to the call by an Operator.
To view the webcast online:
Audience URL: https://app.webinar.net/5kM3dkJ6D4A
Conference Replay
The Company's Quarterly Report on Form 10-Q has been filed with the U.S. Securities and Exchange Commission ("SEC") and may be viewed on the Electronic Document Gathering and Retrieval System ("EDGAR") at www.sec.gov/edgar, on the System for Electronic Data Analysis and Retrieval + ("SEDAR+") at www.sedarplus.ca, and on the Company's website at www.energyfuels.com. Unless noted otherwise, all dollar amounts are in U.S. dollars.
Selected Summary Financial Information:
ABOUT ENERGY FUELS
Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, HMS, vanadium and medical isotopes. The Company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy and owns and operates several conventional and in situ recovery uranium projects in the western United States. The Company also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the Mill, the Company also produces advanced REE products, vanadium oxide (when market conditions warrant), and is preparing to begin pilot-scale recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The Company also owns the operating Kwale HMS project in Kenya which is nearing the end of its life and is developing three (3) additional HMS projects, including the Toliara Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia in which the Company has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The Company is based in Lakewood, Colorado, near Denver, with its heavy mineral sands operations managed from Perth, Australia. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." For more information on all we do, please visit http://www.energyfuels.com
Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will maintain its position as a leading U.S.-based critical minerals company or as the leading producer of uranium in the U.S.; any expectation with respect to timelines to production; any expectation as to rates or quantities of production; any expectation as to costs of production or gross profits or gross margins; any expectation as to future sales or sales prices; any expectation that the Company will be profitable; any expectation that the Company's permitting efforts will be successful and as to any potential future production from any properties that are in the permitting or development stage; any expectation with respect to the Company's planned exploration programs; any expectation that the Company will achieve its business objective of becoming a long-term, profitable U.S. critical minerals company; any expectation that Energy Fuels will be successful in expanding its U.S. separation, or other value-added U.S. REE production capabilities at the Mill, or otherwise, including the timing of any facilities or other initiatives and the expected production capacity associated with any such production capabilities; any expectation that the Mill's REE products will meet commercial expectations or result in commercial offtake agreements; any expectation that the Company will update the Mill PFS to increase throughput of the planned Phase 2 separation circuit; any expectation that the Company's planned Phase 2 separation facility will complete engineering design and will receive all required permits and licenses on a timely basis or at all; any expectation that the Company is well-stocked to capture market opportunities; any expectation that the Bahia Project, Donald Project and/or Toliara Project will be low-cost sources of monazite feed for the Mill and/or also potentially produce significant standalone cashflow from the sale of ilmenite, rutile, zircon and other minerals; any expectation as to the exploration program to be conducted at the Bahia Project during 2024; any expectation that the Company will complete an S-K 1300 and NI 43-101 compliant mineral resource estimate for the Bahia Project during 2024, or otherwise; any expectation that a FID will be made on the Donald Project or that the Company will earn its full 49% interest in the Donald JV; any expectation that any production at the Bahia Project, Donald Project and/or Toliara Project or Mill will be world or globally competitive; any expectation that the Base Resources team will continue to have a successful track-record of designing, constructing, and profitably operating any of the Company's HMS projects; any expectation that Energy Fuels will be successful in agreeing on fiscal terms with the Government of Madagascar or in achieving sufficient fiscal and legal stability for the Toliara Project; any expectation that the current suspension relating to the Toliara Project will be lifted in the near future or at all; any expectation that the additional permits for the recovery of Monazite at the Toliara Project will be acquired on a timely basis or at all; any expectation that the Toliara Project will become a world-class HMS project; any expectation about the long-term opportunity in REEs; any expectation that the Company will be globally competitive in its markets; any expectation that the Company will complete engineering on its R&D pilot facility for the production of Ra-226 at the Mill, will set up the first stage of the pilot facility, and produce R&D quantities of Ra-226 at the Mill for testing by end-users of the product or at all; any expectation that the Company's evaluation of radioisotope recovery at the Mill will be successful; any expectation that any radioisotopes that can be recovered at the Mill will be sold on a commercial basis; any expectation as to the quantities to be delivered under existing uranium sales contracts; any expectation that the Company will be successful in completing any additional contracts for the sale of uranium to U.S. utilities on commercially reasonable terms or at all; and any expectation as to future uranium, vanadium, HMS or REE prices or market conditions. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of feed sources for the Mill; competition from other producers; public opinion; government and political actions; the failure of the Government of Madagascar to agree on fiscal terms for the Toliara Project or provide the approvals necessary to achieve sufficient fiscal and legal stability on acceptable terms and conditions or at all; the failure of the current suspension affecting the Toliara Project to be lifted on a timely basis or at all; the failure of the Company to obtain the required permits for the recovery of Monazite from the Toliara Project; the failure of the Company to provide or obtain the necessary financing required to develop the Toliara Project, the Donald Project, the Bahia Project and/or its expanded REE separations capacity; available supplies of monazite; the ability of the Mill to produce RE Carbonate, REE oxides or other REE products to meet commercial specifications on a commercial scale at acceptable costs or at all; market factors, including future demand for REEs; actual results differing from estimates and projections; the ability of the Mill to recover radium or other radioisotopes at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar, on SEDAR+ at www.sedarplus.ca, and on the Company's website at www.energyfuels.com. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.
1 The information relating to the Donald Project's estimated monazite production is based on the Donald DFS prepared on June 27, 2023. This study constituted a "Feasibility Study" for the purposes of JORC, and the Ore Reserves underpinning this study were estimated in accordance with JORC. The results from this study may not be comparable to (as the case may be) data or estimates under either NI 43-101 or S-K 1300– see disclosure under "Technical Information."
Conference Call and Webcast at 10:00 AM MT on Friday November 1, 2024
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), an industry leader in the U.S. production of uranium and rare earth elements (" REE "), will hold a conference call on Friday, November 1 2024, at 10:00 AM Mountain Time to discuss its financial results for the third quarter ended September 30, 2024.
Financial results will be issued in a press release prior to the call.
Energy Fuels's management will host the conference call, followed by a question-and-answer session.
Conference call access with the ability to ask questions:
To instantly join the conference call by phone, please use the following link to easily register your name and phone number. After registering, you will receive a call immediately and be placed into the conference call
Alternatively, you may dial in to the conference call where you will be connected to the call by an Operator.
To view the webcast online:
Audience URL: https://app.webinar.net/5kM3dkJ6D4A
Conference Replay
About Energy Fuels
Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, HMS (titanium and zirconium minerals), vanadium and medical isotopes. The Company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy, and owns and operates several conventional and in situ recovery uranium projects in the western United States . The Company also owns the White Mesa Mill in Utah , which is the only fully licensed and operating conventional uranium processing facility in the United States . At the Mill, the Company also produces advanced REE products, vanadium oxide (when market conditions warrant), and is preparing to begin pilot-scale recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The Company also owns the operating Kwale HMS project in Kenya which is nearing the end of its life and is developing three (3) additional HMS projects, including the Toliara Project in Madagascar , the Bahia Project in Brazil , and the Donald Project in Australia in which the Company has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The Company is based in Lakewood, Colorado , near Denver , with its heavy mineral sands operations managed from Perth, Australia . For more information on all we do, please visit http://www.energyfuels.com .
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SOURCE Energy Fuels Inc.
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Conference Call at 9:00 AM (Eastern) on Monday, October 7, 2024
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels " or the " Company "), an industry leader in the U.S. production of uranium and rare earth elements (" REE "), will hold a conference call on Monday, October 7, 2024 at 9:00 AM Eastern Time to discuss its recently completed acquisition of Base Resources Limited.
Details of the acquisition were distributed in a previous press release available on the company's website on the investor section .
Energy Fuels' President and CEO, Mark Chalmers and Managing Director Base Resources Tim Carstens, will host the conference call, followed by a question-and-answer session.
Conference call access with the ability to ask questions:
To instantly join the conference call by phone, please use the following link to easily register your name and phone number. After registering, you will receive a call immediately and be placed into the conference call
or
Alternatively, you may dial in to the conference call where you will be connected to the call by an Operator.
To view the webcast online:
Audience URL: https://app.webinar.net/MdbnyLZJk7L
Conference Replay
About Energy Fuels
Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, HMS, vanadium and medical isotopes. The Company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy, and owns and operates several conventional and in situ recovery uranium projects in the western United States . The Company also owns the White Mesa Mill in Utah , which is the only fully licensed and operating conventional uranium processing facility in the United States . At the Mill, the Company also produces advanced REE products, vanadium oxide (when market conditions warrant), and is preparing to begin pilot-scale recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The Company also owns the operating Kwale HMS project in Kenya which is nearing the end of its life and is developing three (3) additional HMS projects, including the Toliara Project in Madagascar , the Bahia Project in Brazil , and the Donald Project in Australia in which the Company has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The Company is based in Lakewood, Colorado , near Denver , with its heavy mineral sands operations managed from Perth, Australia . For more information on all we do, please visit http://www.energyfuels.com .
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SOURCE Energy Fuels Inc.
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NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces it has closed a second and final tranche of its previously announced non-brokered private placement offering, issuing an additional 1,360,000 common shares of the Company ("Shares") at a price of CAD$0.53 per Share for aggregate gross proceeds of CAD$720,800 (the "Offering
These additional net proceeds of the Offering are intended to be used primarily to progress the Company's strategy of a staged rollout of Battery Anode Facilities (BAF) to produce active anode material for EV batteries. Certain proceeds will also be used at the Molo Mine in connection with Phase 2 expansion, working capital requirements as well as general and administrative expenses.
Finder fees of CAD$36,040 were paid in relation to the Offering.
The Shares will be subject to a hold period in Canada expiring four months and one day from the date hereof.
The Company has obtained conditional approval from the Toronto Stock Exchange (the "TSX") for the listing of all Shares issued pursuant to the Offering. The Offering is subject to receipt of final approval from the TSX.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute an offer of Shares for sale in the United States. The Shares offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such Shares may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.
About NextSource Materials Inc.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.
The Company's Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with Phase 1 mine operations currently being optimized to reach its nameplate production capacity.
The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner.
NextSource Materials is listed on the Toronto Stock Exchange under the symbol "NEXT" and on the OTCQB under the symbol "NSRCF".
Investors: Brent Nykoliation Executive Vice President +1.416.364.4911 brent@nextsourcematerials.com
Media: Michael Oke/Andy Mills +44 207 321 0000 nextsource@aura-financial.com
CAUTIONARY NOTE
This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements include any statements regarding, among others, the terms and conditions of the Offering, including final approval of the TSX in respect thereof; timing of on-site construction including the processing plant, process improvements and mine plant adjustments as well as production estimates and timing thereof, the rollout of Battery Anode Facilities including the capabilities and the timing thereof. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
SOURCE:NextSource Materials Inc.
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Saga Metals Corp. (" TSXV: SAGA ") (" FSE: 20H" ) (" SAGA " or the " Company "), a North American exploration company focused on discovering critical minerals, is pleased to announce its plans for a maiden drill program at the Double Mer Uranium project.
Key Highlights for the maiden drill program at the Double Mer Uranium Project:
The Double Mer Uranium Project is Saga Metals' flagship project, covering 1,024 claims across 25,600 hectares in eastern-central Labrador, approximately 90 km northeast of Happy Valley-Goose Bay. Leveraging significant historical exploration data, SAGA entered its 2024 field program with a solid foundation, enabling a focused approach to expand known uranium mineralization along an 18 km trend.
Throughout the 2024 field season, SAGA's team compiled and validated key data, which has strengthened confidence in the project's potential. This work has refined the understanding of the target zones, specifically supporting the decision to initiate drilling within the promising Luivik zone .
Regional map of the Double Mer Uranium Project in Labrador, Canada
SAGA sees the Double Mer Uranium Project as a promising addition to the significant uranium projects already established in Labrador's Central Mineral Belt (CMB) , including Paladin Energy's Michelin and Atha Energy's CMB discovery. With encouraging surface samples and geophysical data, SAGA believes Double Mer could offer comparable large-tonnage potential.
To advance from discovery toward resource definition, SAGA is launching a focused 1,500 to 2,500-meter drill program in the Luivik zone , aiming to confirm uranium concentrations and take initial steps in delineating the zone's uranium resources. This strategic drilling marks a critical step in positioning Double Mer as a significant project in the Labrador uranium landscape.
"We are incredibly excited to be starting the preparations for our maiden drill program, a key milestone for the company. The Luivik zone target is incredibly compelling and is born from our efforts over this past field season," stated Michael Garagan, CGO & Director of Saga Metals Corp. "We submitted our drilling permits early autumn in anticipation and now, with the recent closing of the second tranche from our IPO prospectus, SAGA can start to put plans in motion. The Luivik zone looks to contain a late-stage fluid enrichment to the already emplaced uraniferous pegmatites and conveniently is located proximal to our camp making for a logistically practical initial drill program in the winter months. This pragmatic approach gives our team high confidence in the Luivik zone, while our strategy will continue to develop additional tier one targets throughout the Nanuk and Katjuk zones heading into the spring. Our goal at Double Mer has always been to confirm the continuation of large tonnage reserves already proven to exist in Labrador."
The Double Mer Uranium property and its three zones as defined by the 2024 field season.
The Luivik zone has been prioritized for drilling due to its anomalous uranium (U3O8%) geochemistry, along with clear signs of alteration and fluid enrichment. This zone exhibits Iron phase IOCG (Iron Oxide Copper Gold) fluid characteristics, such as high concentrations of smoky quartz and iron carbonate staining, which are indicators of late fluid flow. This characteristic will be carefully monitored as it can have the potential to enrich uraniferous units and mark the highest-grade intercepts. Consistent CPS (counts per second) readings further highlight the Luivik zone's significant uranium potential, making it a top target for exploration.
The zone's favorable mineralogy is complemented by logistical advantages. Located just one kilometer from Double Mer's main camp, the Luivik zone offers easy access for drilling teams, with snowmobile trails in place to support active drilling operations, ensuring both practical and cost-effective program execution.
The Luivik zone in the west of the Double Mer Uranium Property. Mapped pegmatites with amphibolite mafic rocks which sit in place with much of the mineralized trends.
The Luivik zone boasts a width of 300 meters between samples with a cut-off of 150 ppm U3O8 and anomalous grades over 1,100 ppm U308 to a high of 3,692 ppm U3O8 in a single sample. The Uranium count radiometrics suggest that the anomalous pegmatites which predominantly hosts the Luivik zone may extend upwards of one km or greater.
Discovered later in the 2024 field season due to well-covered outcrops, the Luivik zone required extensive manual work to expose the bedrock beneath overburden. Unlike the Nanuk and Katjuk zones, which run along ridge lines with exposed outcrop, Luivik's more concealed setting initially limited visibility. However, scintillometer readings pinpointed highly anomalous areas throughout the zone, confirming its strong exploration potential. This discovery underscores Luivik as a promising target for SAGA's upcoming maiden drill program.
Luivik zone with detailed drone imagery inset of channel sample cross section perpendicular over zone expressing both rock and channel sample locations with CPS readings from R-125 Scintillometer
About Saga Metals Corp.
Saga Metals Corp. is a North American mining company focused on the exploration and discovery of critical minerals that support the global transition to green energy. The company's flagship asset, the Double Mer Uranium Project, is located in Labrador, Canada, covering 25,600 hectares. This project features uranium radiometrics that highlight an 18-kilometer east-west trend, with a confirmed 14-kilometer section producing samples as high as 4,281ppm U 3 O 8 and spectrometer readings of 22,000cps.
In addition to its uranium focus, SAGA owns the Legacy Lithium Property in Quebec's Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium.
SAGA also holds secondary exploration assets in Labrador, where the company is focused on the discovery of titanium, vanadium, and iron ore. With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.
For more information, contact:
Saga Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@sagametals.com
www.sagametals.com
Qualified Persons
Peter Webster, P. Geo., of Mercator Geological Services Limited is a "qualified person" as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101 ") and has reviewed and approved the scientific and technical content of this news release regarding the Double Mer Property.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipates", "expects", "believes", and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to plans with respect to drilling at its mineral exploration properties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, failure to satisfy closing conditions in respect of the Offering, risks and uncertainties involved in the mineral exploration and development industry, and the risks detailed in the Prospectus and available under the Company's profile at www.sedarplus.ca, and in the continuous disclosure filings made by the Company with securities regulations from time to time. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.
Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/64070cd4-dce2-419a-9ace-6b07f02dd90f
https://www.globenewswire.com/NewsRoom/AttachmentNg/56ed0904-8931-4ea8-9d49-4785dc1978a3
https://www.globenewswire.com/NewsRoom/AttachmentNg/e5fbb1d2-5ac9-4ead-a896-2ff8d6c68348
https://www.globenewswire.com/NewsRoom/AttachmentNg/51c4e638-216b-480e-9e31-0bebf6d28705
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TSX Venture Exchange (TSX-V): LIT Â
Frankfurt Stock Exchange (FSE): OAY3
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Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) ("Argentina Lithium" or the "Company") announces it is amending the terms of the Company's previously announced non-brokered private placement for the sale of: (i) a minimum of 8,000,000 units of the Company (each, a " Unit ") at a price of $0.15 per Unit (the " Offering Price ") for aggregate gross proceeds of $1,200,000 ; and (ii) a maximum of 23,333,334 Units at the Offering Price for aggregate gross proceeds of $3,500,000.10 (the " Offering "). Red Cloud Securities Inc. will be acting as a finder in connection with the Offering.
Each Unit will consist of one common share in the capital of the Company (each, a " Common Share ") and one transferrable Common Share purchase warrant (each, a " Warrant "). Each Warrant will entitle the holder thereof to purchase one additional Common Share (each, a " Warrant Share ") at an exercise price of $0.20 per Warrant Share for a period of three (3) years following the issue date of the Unit.
"While we received a substantial investment from Stellantis last October 2023 , those funds have been earmarked for our drilling and exploration activities on our projects in Argentina . A prepaid drilling services contract for up to 15,500 meters secured last October for just over $51 million ensures that all upcoming drill programs for the next couple of years are fully funded, " stated Nikolaos Cacos , President and CEO. " The current financing will ensure that our corporate activities will keep pace with our ongoing exploration programs. "
Please contact Shawn Perger at 1-604-687-1828 or Toll-Free: 1-800-901-0058
 Email: info@argentinalithium.com
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the Units will be offered for sale to purchasers resident in Canada other than Quebec and in certain offshore jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the " Listed Issuer Financing Exemption "). The Units may also be sold in certain other jurisdictions pursuant to applicable securities laws. The Common Shares issuable from the sale of Units sold under the Listed Issuer Financing Exemption are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada , subject to any hold period imposed by the TSX Venture Exchange (the " Exchange ") on the securities issued to certain purchasers. There is an amended and restated offering document relating to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.argentinalithium.com . Prospective investors should read this offering document before making an investment decision.
Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including but not limited to, the approval of the Exchange. Directors, officers and employees of the Company may participate in a portion of the Offering and any securities issued to such directors and officers are subject to the Exchange's four-month hold period. A commission may be paid to arm's length finders on a portion of the Offering. The Company intends to use the proceeds of the Offering for exploration programs on the Company's projects in Argentina and for general working capital.
The securities described herein 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 accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the 1933 Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
About Argentina Lithium
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them towards production in order to meet the growing global demand from the battery sector. The Company's recent strategic investment by Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., one of the world's leading automakers, places Argentina Lithium in a unique position to explore, develop and advance its four key projects covering over 70,000 hectares in the Lithium Triangle of Argentina . Management has a long history of success in the resource sector of Argentina and has assembled some of the most prospective lithium properties in the world renowned "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 contains certain statements and information that may be considered "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "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", "might", "will" or "will be taken", "occur" or "be achieved" and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, without limitation, statements or information concerning the use of proceeds of the Offering; the closing of the Offering; the Company's expectations about when the Offering will close, if the Offering closes at all; the Company's expectation that it will meet the requirements of the Exchange necessary to have the Common Shares listed; the size and other terms of the Offering; the participation by insiders in the Offering; finder's fees; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; future exploration and operating plans; and the expectation that all of the closing conditions will be met.
These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, including, without limitation, assumptions about the proposed completion of the Offering; future prices of lithium; the price of other commodities; currency exchange rates and interest rates; favourable operating conditions; political stability; timely receipt of governmental approvals, licences and permits (and renewals thereof); access to necessary financing; stability of labour markets and market conditions in general; availability of equipment; the accuracy of mineral resource estimates and preliminary economic assessments; estimates of costs and expenditures to complete the Company's programs and goals; and there being no significant disruptions affecting the development and operation of the project.
There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include: the risk that the Offering will not complete on the timeline anticipated or at all; the risk that all necessary regulatory approvals will not be obtained, including the approval of the Exchange; the risk that the Company will not be able to utilize the proceeds of the Offering as anticipated; risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions; risks relating to unanticipated operational difficulties; failure of equipment or processes to operate in accordance with specifications or expectations; cost escalations; unavailability of materials and equipment; government action or delays in the receipt of government approvals; industrial disturbances or other job action; unanticipated events related to health, safety and environmental matters; risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; ongoing war in Ukraine , rising inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all and economic activity in general; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities regulators.
The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Argentina Lithium & Energy Corp.
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About Lithium Universe Ltd: Â
Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.
Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.
Source:
Lithium Universe Ltd
Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com
Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
alx resources corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company")Â is pleased to announce that its management information circular (the "ALX Circular") and related materials (collectively, the "Materials") in connection with the Annual General and Special Meeting (the "Meeting") of its shareholders (the "ALX Shareholders") is now available on ALX's website (click here to access the Materials) as well as under ALX's profile on SEDAR+ (www.sedarplus.ca). The Company commenced the mailing of the Materials for the Meeting to ALX Shareholders on Tuesday, November 5, 2024.
The Meeting is scheduled for December 2, 2024, at 10:00 AM (Pacific Time) in Vancouver, British Columbia for ALX Shareholders to approve the acquisition by Greenridge Exploration Inc. ("Greenridge") (CSE: GXP) of all of the outstanding and issued common shares of ALX by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"). At the Meeting, ALX Shareholders will be asked to vote on resolutions approving, among other things, the Arrangement. The resolutions to approve the Arrangement will be subject to the approval of 66â…”% of votes cast by ALX Shareholders.
The details of the transaction between ALX and Greenridge (the "Transaction") were announced in ALX's news release of October 11, 2024, which followed the execution of a binding arrangement agreement (the "Arrangement Agreement") between ALX and Greenridge that received unanimous approval from the Board of Directors of ALX (the "Board") on October 10, 2024.
Under the terms of the Arrangement Agreement, each ALX Shareholder will receive 0.045 common shares of Greenridge in exchange for each ALX common share held (each, an "ALX Share") (collectively, the "Exchange Ratio"). Upon completion of the Transaction, existing Greenridge and ALX Shareholders will own approximately 75.2% and 24.8%, respectively, of the common shares of the combined entity, which will retain the name of Greenridge.
No shareholder vote is required by the shareholders of Greenridge. In addition to ALX Shareholder approval, the Transaction is also subject to the receipt of certain regulatory and court approvals, including the approvals of the TSX Venture Exchange ("TSXV") to delist the ALX Shares and other closing conditions customary in transactions of this nature.
The Board recommends that ALX Shareholders vote in favour of the Transaction.
Strategic Rationale for the Transaction
Creates a leading and diversified Canadian explorer of critical and precious metals: The combined entity will own or have interests in twenty-nine (29) projects covering approximately 420,000 hectares with considerable exposure to potential uranium, lithium, nickel, copper and gold discoveries;
Consolidates ownership in the Carpenter Lake Uranium Project: Following the Transaction, Greenridge will own 60% of Carpenter Lake with the option to increase to 100%;
Creates one of the largest uranium property portfolios in the Athabasca Basin, which is world-renowned for uranium mining and recent discoveries of large, high-grade deposits: In addition to Carpenter Lake, ALX has interests in twelve (12) other projects and properties covering approximately 173,000 hectares in the Athabasca Basin;
Enhanced capital markets profile and shareholder base: the pro forma combined entity is expected to have a market capitalization of approximately C$35 million1.
Enhanced management and Board: adds Warren Stanyer, CEO of ALX, as President and Director as well as another nominee to the Board of Directors of Greenridge;
G&A cost savings: Anticipated material cost savings from consolidating corporate G&A, corporate development, and investor relations and marketing activities compared to operating as two separate entities.
1 Calculated using Greenridge's closing share price on the Canadian Securities Exchange on October 10, 2024 of C$0.78 and the pro forma basic shares outstanding of the combined entity of approximately 45.2 million common shares.
HOW TO VOTE:
ALX Shareholders as at the record date of October 28, 2024, will receive the Materials by regular mail or email, according to their preferences.
If your ALX Shares are registered in your name, you can vote your ALX Shares:
If your ALX Shares are not registered in your name, but are held in the name of an intermediary (the "Intermediary", usually a securities broker, bank, trust company, or other financial institution):
Your Intermediary is required to seek your instructions as to how to vote your ALX Shares. Your Intermediary will provide you with a package of information, including the ALX Meeting Materials and either a form of proxy or a voter instruction form ("VIF"). Carefully follow the instructions accompanying the form of proxy or VIF. ALX Shares held by Intermediaries can only be voted upon the instructions of the ALX Shareholder. Without specific instructions, the Intermediary is prohibited from voting ALX Shares for their clients.
ALX Shareholders are encouraged to read the ALX Circular in detail with respect to the reasons for the Board's recommendation and are urged to vote your ALX Shares as soon as possible. Votes must be received by Computershare by 10:00 AM (Pacific Time) on Thursday, November 28, 2024, to be considered valid for the purposes of the Meeting.
About ALX
ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".
ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in Canada, which include uranium, lithium, nickel, copper and gold projects. The Company uses the latest exploration technologies and holds interests in over 240,000 hectares of prospective lands in Saskatchewan, a stable jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, diamond deposits, and historical production from base metals mines.
ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project (currently the subject of an option earn-in agreement with Trinex Minerals Ltd., who can earn up to a 75% interest in two stages), the Sabre Uranium Project, the Bradley Uranium Project, and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with Uranium Energy Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016 (currently the subject of an amended property agreement that would increase ALX's interest to 25% after fulfilling certain conditions).
ALX also owns 100% interests in the Firebird Nickel Project, the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, and in the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages).
ALX owns a 50% interest in eight lithium exploration properties staked in 2022-2023 collectively known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada, a 100% interest in the Anchor Lithium Project in Nova Scotia, Canada, and 100% interests in the Crystal Lithium Project and the Reindeer Lithium Project, both located in northern Saskatchewan.
For more information about the Company or the Arrangement, visit ALX's website at www.alxresources.com, or please contact:
Warren Stanyer, CEO and Chairman, by email at info@alxresources.com, or Roger Leschuk, Manager, Corporate Communications, by telephone at: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com.
On Behalf of the Board of Directors of alx resources corp.
"Warren Stanyer"
Warren Stanyer, CEO and Chairman
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements or information may relate to the Arrangement, including statements with respect to the consummation of the Arrangement; receipt and timing of approval of the ALX Shareholders with respect to the Arrangement; the anticipated benefits of the Arrangement to the ALX Shareholders; the mailing of the ALX Circular and the date of the Meeting; the expected ownership interest of ALX Shareholders and Greenridge shareholders in the combined company; anticipated strategic and growth opportunities for the combined company; the successful integration of the businesses of ALX and Greenridge; the potential for discovery at the combined company's properties, including expectations with respect to exploration permitting and consultation with First Nations and Metis communities; and any other activities, events or developments that the companies expect or anticipate will or may occur in the future.
Forward-Looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that ALX and Greenridge will complete the Arrangement in accordance with, and on the timeline contemplated by the terms and conditions of the Arrangement Agreement; that ALX will receive the required shareholder, regulatory, court and TSXV approvals and will satisfy, in a timely manner, the other conditions to the closing of the Arrangement; the accuracy of management's assessment of the effects of the successful completion of the Arrangement and that the anticipated benefits of the Arrangement will be realized; the price of uranium; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the combined company's planned activities will be available on reasonable terms and in a timely manner. Although ALX has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current views of ALX with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the inability of ALX and Greenridge to complete the Arrangement; a material adverse change in the timing of and the terms and conditions upon which the Arrangement is completed; the inability to satisfy or waive all conditions to closing the Arrangement; the failure to obtain shareholder, regulatory, court or stock exchange approvals in connection with the Arrangement; the inability of the combined company to realize the benefits anticipated from the Arrangement and the timing to realize such benefits; the inability of the consolidated entity to realize the benefits anticipated from the Arrangement and the timing to realize such benefits; unanticipated changes in market price for ALX Shares and/or Greenridge shares; changes to ALX's and/or Greenridge's current and future business plans and the strategic alternatives available thereto; growth prospects and outlook for the combined company's business; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada or other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the risk factors in the ALX Circular and ALX's and Greenridge's other filings with the Canadian securities regulators which are available, respectively, on each company's profile on SEDAR+ at www.sedarplus.ca. ALX does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has either approved or disapproved of the contents of this news release.
None of the securities to be issued pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issuable in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229152
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Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; " BRW " or the " Company ") is excited to announce that, following the recent discovery of spodumene near Nuuk, Greenland, it has applied for additional licenses in the Nuuk area. The Company has also increased its holdings in new regions of Western Greenland subsequent to further compilation work including the Disko Bay and Uummannaq areas.
Mr. Killian Charles, President and CEO of BRW, commented: "With the lithium potential of Greenland newly confirmed, we have rapidly consolidated all high priority targets in western Greenland. BRW now controls one of the most significant grassroot exploration portfolios in Greenland and is the only company actively exploring for lithium in the country. Our new holdings all benefit from proximity to communities and tidal water to ensure that logistical and infrastructure needs are in place for potential future development. Between our new Ivisaartoq discovery and our expanded portfolio, we look forward to launching a major lithium exploration initiative in 2025 across Greenland as soon as possible. We are very keen to work with the Greenlandic communities, government and European Commission as we launch this exciting endeavor."
Figure 1: BRW Lithium Portfolio
"With several discoveries across its expanding portfolio, BRW will continue to leverage its lithium expertise to generate and advance targets to the benefit of its shareholders. With continuous drilling success at Mirage, the potential for new discoveries at Anatacau West and the start of a significant exploration campaign in Greenland, BRW is well positioned to deliver exciting results throughout 2025."
All new license areas have been applied for and are pending final government approval. They were staked based on favorable geological environments and satellite imagery. Greenland has exceptional outcrop exposure and BRW's 2024 discovery showcases significant lithium potential for the country. In total, BRW acquired 92,547 hectares of new license area that contains hundreds of mapped and interpreted pegmatites of which 90 are between 500 and 2,000 meters in length. None of the new areas staked by BRW have been previously explored for lithium.
Brunswick Exploration would like to thank Xploration Services Greenland A/S for their assistance in the applications as well as other project aspects during the 2024 season.
Nuuk Expansion
The Nuuk holdings host the new Ivisaartoq discovery within the Ivisaartoq belt (see press release October 30 th ). The Company has applied to stake the adjacent Ujarassuit amphibolite belt that is up to 1 kilometer in width and roughly 40 kilometers in strike length. In addition, the company has staked additional amphibolite belts within the Fiskefjord Complex, 95 kilometers north of Nuuk, and 75 kilometers southeast of the community of Maniitsoq. These belts are up to 4.5 kilometers in width and 20 kilometers in strike length. In total, the new claims contain hundreds of mapped and interpreted pegmatite outcrops including 6 that are between 500 and 2,000 meters in strike length for a total license expansion area of 33,138 hectares. (See Figure 2).
Figure 2: Newly Expanded Nuuk License
Disko Bay
The Disko Bay licenses are located roughly 30-80 kilometers from the coastal city of Ilulissat, which is the 3 rd largest city in Greenland. The licenses are near multiple seaports and container terminals, including Ilulissat, which has a population of over 4,500 people. The area is situated within the Aasiaat domain, part of the Paleoproterozoic Nagssugtoqidian Orogen, sandwiched to the south by the Archean North Atlantic Craton and to the North by the Archean Rae Craton. The Orogen extends west into the Trans-Hudson orogeny of Canada that continues to the lithium deposits near Snow Lake Manitoba and the Black Hills of South Dakota.
Multiple amphibolite and metasedimentary belts were acquired with some belts being over 20 kilometers in strike length. The new claims have hundreds of mapped and interpreted pegmatite targets including 54 that are between 500 and 2,000 meters in strike length for a total license area of 49,639 hectares.
Figure 3: Disko Bay License Overview
Uummannaq
The licenses are located roughly 70 kilometers from the coastal city of Uummannaq, which is roughly 80 kilometers north of Ilulissat. Uummannaq has a population of roughly 1,660, an airport and a ferry terminal as well as a nearby container terminal. The area is located within the Archean Rae Craton that is intermixed with the Paleoproterozoic Rinkian fold-thrust belt, both of which are in contact with the Paleoproterozoic Nagssugtoqidian Orogen to the south.
The new license contains multiple amphibolite and metasedimentary belts with dozens of mapped and interpreted pegmatites of which 30 are between 500 and 2,000 meters in strike length with a total license area of 9,770 hectares.
Figure 4: Uummannaq License Overview
Qualified Person
The scientific and technical information related to this press release has been reviewed and approved by Mr. Charles Kodors, Manager Atlantic Canada. He is a Profession Geologist registered in New Brunswick, Nova Scotia, Newfoundland, Quebec, Ontario, Manitoba and Saskatchewan.
About Brunswick Exploration
Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing its extensive portfolio of lithium projects in Canada and Greenland including the Mirage and the Anatacau Projects and the new Ivisaartoq lithium discovery.
Investor Relations/information
Mr. Killian Charles, President and CEO ( info@BRWexplo.com )
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
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. 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.
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