Winsome Receives MCS Grant from Government of Québec

Lithium developer Winsome Resources (ASX:WR1); “Winsome” or “the Company”) is pleased to announce that its subsidiary Lithium Winsome Adina Inc has received a grant from the Government of Quebec of circa C$130,000 (approximately A$146,000) towards metallurgical testwork on samples from its 100%-owned Adina Lithium Project in the Eeyou Istchee James Bay region of Québec, Canada.

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HIGHLIGHTS

• Winsome’s subsidiary Lithium Winsome Adina Inc has been granted circa C$130,000 (A$146,000) by the Quebec Government
• The grant has been offered under the Mineral Exploration Support Program for Critical and Strategic Minerals, overseen by the Quebec Ministry of Natural Resources and Forests.
• The grant will contribute towards the ongoing metallurgical testwork programme being conducted on samples from Adina.
• Testwork will inform the forthcoming project studies for Adina which are anticipated to be published in 2H 2024 and will include evaluation of the Company’s recent option to acquire the Renard Operation some 60km from Adina.

The grant has been offered under the Mineral Exploration Support Program for Critical and Strategic Minerals (Programme de soutien à l’exploration minière pour les minéraux critiques et stratégiques 2021‑2024 in French or PSEM-MCS) which is overseen by the Quebec Ministry of Natural Resources and Forests (Ministère des Ressources naturelles et des Forêts or MRNF).

WINSOME’S MANAGING DIRECTOR CHRIS EVANS SAID:

“We would like to thank the Gouvernement du Québec for the award of this grant towards our metallurgical testwork programme. We acknowledge the desire of the Quebec Government to develop the critical and strategic minerals industry within the province, including investigating the potential for downstream and other value-adding initiatives, and we are pleased that our Adina project has been recognised as one of the premier lithium development opportunities within Québec.

We are looking forward to this being the first of many collaborations between the Quebec Government and Winsome Resources as we progress the development of Adina for the benefit of key stakeholders within the region”

In March 2020, the Government of Quebec announced a five-year investment of $90 million to develop critical and strategic minerals (CSMs). In October 2020, it launched the Quebec Plan for the Development of Critical and Strategic Minerals 2020‑2025 (QPDCSM), to oversee the interventions to make Québec a leader in CSM production, processing and recycling, in partnership with regional and Indigenous communities. The PSEM-MCS is part of the QPDCSM and was established to provide assistance to CSM exploration projects, based on their contribution to CSM exploration in Québec and the quality of the exploration model.

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