Winsome Resources

Overview

Lithium continues to be an essential resource in the manufacturing of batteries required to power modern technologies, such as laptops. smartphones, and other devices. Add to that the surging demand for electric vehicles (EVs) and other clean energy technologies, and it’s clear why the need for lithium continues to grow. The US Department of Energy expects the global lithium battery market to increase by five to ten times within the next decade. Additionally, research shows that demand for lithium will exceed two million metric tons by 2030.

North American governments have set ambitious goals to transition to green technologies, with both the United States and Canada adding lithium to their critical minerals lists. Both countries are focused on developing internal supply chains, including promoting further development of domestic lithium deposits and expanding downstream processing capabilities.

Winsome Resources (ASX:WR1, OTCQB:WRSLF, FSE:4XJ) is an Australian exploration and development company with six lithium assets in Quebec, headlined by its two advanced flagship assets - Adina and Cancet.

As a top global mining jurisdiction, Quebec has a well-developed resource industry, strong support from the local government that includes tax incentives, and significant offtake opportunities throughout North America. Both Cancet and Adina, as well as the Sirmac-Clappier ans Tilly projects are 100 percent owned by the company. Meanwhile, exclusive option agreements are in place for Winsome to acquire 669 claims in Decelles and 259 claims in Mazerac, spanning 385 square kilometers and 149 square kilometers, respectively.

In April 2023, Winsome entered into a purchase agreement to acquire the prospective Tilly Project located 20 kilometers from the Adina Project. The acquisition increases Winsome’s tenure in the James Bay region of Quebec to 856.6 square kilometers, maintaining

its position as one of the largest landholders in this highly prospective region.

The company’s flagship projects Adina and Cancet are both in advanced exploration phase with a combined approximately 30,000 meters of drilling completed (20,000 meters at Adina and 10,000 meters at Cancet) with exceptional assay results, including a 3-kilometer strike of high-grade lithium mineralization; 1.34 percent lithium oxide over 107.6 meters from 2.3 meters to 109.9 meters at Adina; 1.64 percent lithium oxide over 47.4 meters from 32.7 meters; 1.78 percent lithium oxide over 23 meters from 55.1 meters; and 1.92 percent lithium oxide over 18 meters from 48 meters.

Winsome is currently working toward a maiden resource and preliminary economic assessment for the Adina project later in 2023.

In addition to its impressive portfolio of lithium projects in Quebec, Winsome Resources owns 100 percent of the offtake rights for lithium, cesium and tantalum from Power Metals’ (TSXV:PWM) Case Lake Project in Eastern Ontario, as well as a 10 percent equity stake in PWM.

The company embodies a proactive approach to maintaining an excellent environmental, social and governance (ESG) rating. Winsome Resources’ commitment to its ESG rating has a tangible impact on reduced emissions during exploration and future production. It has direct access to hydropower to power its operation with renewable energy. Additionally, the coarse-grained nature of its hard-rock lithium deposits allows for using Dense Media Separation, a pre-concentration process that maximizes energy conservation.

Winsome Resources’ managing director Chris Evans provided context into why its hard-rock assets give the company a distinct advantage. “The fact that we're hard rock lithium is very important. And the fact we've got very coarse-grained spodumene, which makes it amenable to DMS, dense media separation, meaning it’s relatively quick to market , lower capex and lower carbon footprint

Winsome Resources is guided by a strong management team with direct experience that builds confidence in the company. Evans has a background in lithium exploration and development, previously leading the Pilgangoora lithium mine to full production. “The Chairman, Stephen Biggins, was until last year Managing Director of Core Lithium, Australia’s latest lithium producer. Dr. Qingtao Zeng holds a doctorate in geology and has been extensively involved in the lithium sector for almost 10 years. Carl Caumartin, general manager in Canada, holds an MBA alongside a bachelor’s degree in geological engineering, making him ideally suited and qualified to lead the team in Canada.

Company Highlights

• Winsome Resources is a lithium-focused exploration and development mining company with six hard-rock lithium assets in Quebec, four of which are 100-percent-owned by the company with exclusive rights to purchase its fourth and fifth assets
• Quebec is known as an extremely mining-friendly province, with its government providing tax incentives to attract mining companies alongside a strong mining infrastructure
• Winsome Resources’ flagship projects, Adina and Cancet, are in advanced exploration stages. Adina is progressing toward a maiden resource estimate in 2023 and a preliminary economic assessment.
• Core to Winsome Resources' vision is its commitment to maintaining an excellent ESG rating by utilizing hydropower and Dense Media Separation, which is known for its energy efficiency
• A management team with direct experience in the lithium sector, in addition to management and financial experience, builds confidence in the company’s ability to fully develop its assets