Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company "), is pleased to announce that it intends to complete a non-brokered private placement consisting of units of the Company at a price of $0.175 per unit (the " Unit ") for aggregate gross proceeds of up to C$2,750,000, with each Unit comprised of one common share of the Company (each, a " Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "), with each whole Warrant entitling the holder to acquire one (1) Share (each, a " Warrant Share ") at a price of C$0.35 per Warrant Share for a period of twenty-four (24) months, provided that if the volume weighted average trading price of the Shares on the Canadian Securities Exchange (" CSE ") is at a price greater than $0.70 per Share for ten (10) consecutive trading days, then the expiry date of the Warrants shall automatically accelerate and will expire on the date that is thirty (30) days after the date that notice of such acceleration is provided to the Warrant holders by way of press release (the " Offering ").
The Company intends to use the net proceeds raised from the Offering for funding exploration drilling and five hole drill program at the Company's projects, property payments and general working capital.
All securities issued in the Offering will be subject to a statutory four month hold period. Closing of the Offering is subject to receipt of all regulatory approvals, including approval of the CSE. The Offering is expected to close on or about September 12, 2022.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The Company also intends to issue approximately 2,500,000 Shares to various creditors to settle outstanding indebtedness.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II and Pocitos II lithium brine projects, and a 20% interest in the Pocitos I lithium project, all of which are located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the Offering, including the total proceeds, use of proceeds, and the closing (including the proposed closing date) of the Offering . The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
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Argentina and lithium mining go hand-in-hand. The South American nation is one of three encompassed in the prolific Lithium Triangle, a region that holds more than half of the world’s lithium deposits. With demand for lithium on the rise, Argentina’s advantageous positioning as the host of the world’s third-largest lithium reserves presents a world-class mining opportunity.
Market researchers project the global lithium market to spike to US$8.24 billion in 2027. The international drive to produce sustainable alternatives for transportation through the adoption of electric vehicles and greener power makes Argentina an especially unique location for high yield lithium mining across the country’s famous lithium salars.
Spey Resources (CSE:SPEY,OTCQB:SPEYF,FSE:2JS) is a Canadian mineral exploration company focused on addressing the demand for lithium as a natural resource to fuel the future. The company holds an option to acquire 100 percent interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina and an option to acquire a 100 percent undivided interest in the Silver Basin project and Kaslo silver project in British Columbia.
The Candela II project or “Incahuasi project,” hosts two major aquifers located with 145ppm lithium and strong brine flow. In July 2021, Spey Resources announced it had accepted a quotation from Amaru Mining Services and made preparations to commence drilling at the Incahuasi Salar, Argentina within a few weeks. This exciting chapter in the exploration of the Candela II project includes up to four exploration wells and expansive testing, drilling and pilot plant construction.
The short-term next steps for the company include utilizing drawdown funding for C$15 million for a large pilot plant with an estimated 100-ton capacity. The company plans to complete a US175 million funding and US$60 million in drawdowns to construct the plant over 18 months. This pilot plant could see full production in 2.5 years.
Spey Resources continues to advance its goals of meeting lithium demand with its recent option agreement to acquire a 100 percent interest in the Pocitos I and II claims from AIS Resources in Salta, Argentina. The property has strategic positioning near high yield lithium projects and leverages excellent infrastructure, including gas, electricity and road access.
The company’s major silver projects in British Columbia offer excellent exposure to the precious metals and silver markets and boast exceptional positioning in a politically stable, mineral-rich and mining-friendly jurisdiction. The Silver Basin gold-silver property leverages close proximity to the historic Silver Cup mining camp and Kaslo Silver hosts diverse deposits of silver-lead-zinc, making it an exceptional exploration prospect.
Spey Resources has a highly experienced management and technical exploration team with over a century of professional expertise in the resource, finance and energy sectors. This results-oriented team and their vested interest in company success prime Spey for exceptional discovery potential and advanced development of its lithium and precious metal projects.
The Incahuasi Salar project is located approximately 45 kilometers from the township of Tolar Grande in Salta, Argentina. The project leverages close proximity to major lithium players and famous lithium salars such as Arizaro,(Next View Energy), Pocitos, Rincon, Pozelous, Pular, Cauchari and Oloroz.
Incahuasi Salar has seen significant exploration with completed VTEM geophysics showing low aquifers with potassium, magnesium and lithium brines. Likewise, drill hole data shows lithium brines are close to the surface with sample analysis revealing lithium values from 250-400ppm. Exploration has been aided by accessible roadways and minimal human disruption in the area.
The next steps for the project include additional geophysics, testing and drilling to conform to resource sizing. Spey Resources intends to build a camp to aid its operations and construct its pilot plant, which could see full production in January 2023.
The Kaslo silver property consists of 13 claims and 13 crown grants covering a total area of 3,238.9 hectares along Keen Creek, 12 Kilometres west of Kaslo in the Slocan Mining Division of southern British Columbia, Canada. Spey Resources has the right to earn an undivided 100 percent interest in and to the property, which is subject to a 2.5 percent net smelter return royalty.
Historic mining production boasts a reported average grade of 70.3g/t silver, 3.05 percent lead and 4.72 percent zinc. The property uniquely hosts faulting, shearing and intrusive activities across deposits of silver-lead-zinc. Despite its rugged terrain, Kaslo leverages accessible roadways, nearby communities and utility networks.
Recent work includes geochemical sampling, prospecting, ground and airborne geophysical survey, geological mapping, excavator trenching and diamond drilling. In 2018, Tay Resources collected a total of 12 rock samples, which helped Spey advance its exploration and targeting for the highly prospective project.
The Silver Basin gold-silver property is located in the Columbia Mountains near Trout Lake in the West Kootenay region of British Columbia. The property covers the southern part of the historic Silver Cup Mining Camp in the Lardeau District of the Revelstoke Mining Division. The mineral claims that comprise the property cover 2,268 hectares of ground and touch an eight-kilometer length of axial trace that hosts past-producing mines.
In 2020, Spey Resources conducted mineralization sampling from the IXL, Morning Star, Chance, Foggy Day, Bonanza, Butte and Gallant Boy workings as well as a number of other prospects on the property. The next steps for the project include sample analysis to determine targeting and further exploration.
Nader Vatanchi has spent the last nine years in finance, starting with Edward Jones and IG Wealth Management in 2012 where he spent a combined six years before selling his business to pursue his entrepreneurial goals.
Vatanchi graduated with a Bachelor of Arts in Criminology from Simon Fraser University. Currently, he serves as CEO of Musk Metals Corp. (CSE:MUSK), CEO of Forty Pillars Mining Corp., and CFO of Triangle Industries Ltd., a reporting issuer.
Abbey Abdiye has extensive experience in the financial sector in both public and private companies. He is a chartered professional accountant (CPA) and CFO of other reporting issuers, where he was responsible for all financial, fiscal management, regulatory compliance matters and reporting aspects of company operations. He also provided strategic guidance and direction in capital structuring and engaged in an innovative financing program that leveraged sales and development.
At Spey, Abdiye will provide leadership and coordination in the administrative, business planning, reporting and budgeting efforts of the company. He will oversee the company’s financial reporting, internal controls, corporate governance management systems, annual audit and regulatory compliance matters. He obtained a Bachelor of business administration degree from Simon Fraser University and a co-op education certificate.
Ian Graham is a mining professional with over 28 years of experience in the technical characterization and financing of mineral deposit exploration and development. His 20 years with the major mining companies Anglo American and Rio Tinto has been followed by experience in founding and financing public companies in the minerals sector.
In his roles with both the major and junior companies, Graham has been involved with exploration for mineral deposits, from targeting through discovery and the delineation to the feasibility of projects. He has experience with the modelling of project economics (DCF) and the structuring of project and company financing. Graham’s project roles have taken him to southern Africa, Canada, the US, India, Russia and Latin America; as the chief geologist with the Project Generation Group at Rio Tinto, his focus was global.
Ian Graham is a mining professional with over 28 years of experience in the technical characterization and financing of mineral deposit exploration and development. His 20 years with the major mining companies Anglo American and Rio Tinto has been followed by experience in founding and financing public companies in the minerals sector.
In his roles with both the major and junior companies, Graham has been involved with exploration for mineral deposits, from targeting through discovery and the delineation to the feasibility of projects. He has experience with the modelling of project economics (DCF) and the structuring of project and company financing. Graham’s project roles have taken him to southern Africa, Canada, the US, India, Russia and Latin America; as the chief geologist with the Project Generation Group at Rio Tinto, his focus was global.
Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company "), is pleased to announce the achievement of certain development milestones and planned future activities regarding the Incahuasi Salar property and Pocitos Salar property, respectively.
Nader Vatanchi, CEO of Spey, commented: "We have made progress with our flagship project in the Incahuasi Salar and Pocitos over the last year despite the challenges we faced. We thank our loyal shareholders for their support and patience during the difficult times. Over the coming months, we will continue working to advance our lithium projects with the goal of maximizing shareholder value."
The scientific and technical content of this news release has been reviewed and approved by Phillip Thomas, BSc. Geol, MBM, FAusIMM, MAIG, MAIMVA(CMV), who is a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (" NI 43-101 ").
Scientific and technical information relating to the Incahuasi Salar property is supported by the technical report titled " Technical Report for the Incahuasi Salar Lithium Concession, Salta Province, Argentina ", dated June 10, 2022 (the " Technical Report "), and prepared by Michael J. Rosko for Spey. Reference should be made to the full text of the Technical Report, which was prepared in accordance with NI 43-101 and is available electronically on SEDAR ( www.sedar.com ) under the Company's issuer profile, for a description of the Company's data verification and QA/QC procedures.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II, Pocitos I and II lithium brine projects located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including, but not limited to, with respect to the Company acquiring the remaining 20% interest in Candella II project, completing a production drill hole program at the Candella II project, lodging a work plan for the drilling program at Incahuasi , computing mineral resource estimates, and generally advancing the Company's projects. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
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Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company ") announces that the British Columbia Securities Commission (the " Commission ") has revoked the cease trade order which was issued against the Company, effective August 12, 2022 (please see press release dated August 31, 2021), in connection with certain continuous disclosure deficiencies. The Company filed various rectifying continuous disclosure documents on August 8, 2022, which documents are available via SEDAR at www.sedar.com .
The Company expects that its common shares will resume trading on the Canadian Securities Exchange (the " CSE ") on or about August 15, 2022.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II, Pocitos I and II lithium brine projects located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release may constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release, including without limitation, the date that the Company's common shares are expected to resume trading on the CSE, are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, without limitation, regulatory, legislative, environmental and other judicial or political developments, and operational difficulties. 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. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this press release.
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Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company ") announces that as a result of a review by the British Columbia Securities Commission (" BCSC "), we are issuing the following press release to clarify our disclosure.
The Company has been subject to a continuous disclosure review with the BCSC as a result of a cease trade order imposed on August 27, 2021 for failure of the Company to file certain disclosure documents regarding its acquisition of Tech One Lithium Resources Corp. (" Tech One ") (please see the Company's news release dated April 26, 2021).
Amended and Restated Interim Financial Statements
The Company has amended and restated its (1) interim financial statements for the period from incorporation on March 11, 2021 to May 31, 2021 and (2) interim financial statements for the period from incorporation on March 11, 2021 to August 31, 2021 to account for the acquisition of Tech One as a reverse takeover transaction and comply with National Instrument 51-102 Continuous Disclosure Obligations (" NI 51-102 ") .
The amended and restated financial statements have been posted to SEDAR (www.sedar.com) under the Company's SEDAR profile.
Amended and Restated Management Discussion and Analysis (MD&A)
The Company has amended and restated its MD&As for the interim periods ending May 31, 2021 and August 31, 2021 to correct the references to the quarterly results in the MD&As to account for the acquisition of Tech One as a reverse takeover transaction and comply with NI 51-102 and Form 51-102F1 Management's Discussion and Analysis.
The amended and restated MD&As have been posted to SEDAR (www.sedar.com) under the Company's SEDAR profile.
Amended and Restated Material Change Report
The Company has also amended and restated its material change report dated May 6, 2021, which was filed in connection with the Company's acquisition of Tech One in order to provide additional disclosure required under Item 5.2 of Form 51-102F3 with respect to the acquisition, which constituted a "restructuring transaction" as that term is defined in NI 51-102.
The amended and restated material change report has been posted to SEDAR (www.sedar.com) under the Company's SEDAR profile.
The Company has filed a technical report for its Incahuasi Project entitled "Technical Report for the Incahuasi Salar Lithium Concession, Salta Province, Argentina" (the " Technical Report "), as required under section 4.2(1)(j)(i) of National Instrument 43-101 Standards of Disclosure for Mineral Projects , to support the disclosure of the preliminary economic assessment in the Company's July 1, 2021 corporate presentation.
The Technical Report has been posted to SEDAR (www.sedar.com) under the Company's SEDAR profile.
Tech One Lithium Resources Corp.
Tech One's business is the acquisition, exploration and evaluation of natural resource properties in Canada and Argentina. Tech One holds an option to acquire up to 100% of the mineral concessions of the Candela II project located within the prolific Lithium Triangle, in the Salta Province of Argentina.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II, Pocitos I and II lithium brine projects located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release may constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release, including without limitation, statements pertaining to the timing of filing of certain disclosure documents and potential for conclusion of the BCSC's review, are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, without limitation, regulatory, legislative, environmental and other judicial or political developments, and operational difficulties. 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. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this press release.
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Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company ") announces that it has amended the term of 2,975,000 common share purchase warrants (the " Warrants ") that were issued pursuant to a private placement of units of the Company (the " Units ") which closed on April 8, 2021. Each Unit was comprised of one common share of the company and one Warrant, with each Warrant exercisable to purchase one common share at a price of $0.22 until April 8, 2022 (the " Expiry Date "). The Company has extended the Expiry Date of each Warrant to the date that is the earlier of: (i) 30 days after the date the Company's common shares re-commence trading on the Canadian Securities Exchange; and (ii) October 8, 2022. All other terms and conditions of the Warrants remain the same. Warrant holders are advised that replacement warrant certificates will not be issued and that the original warrant certificate must be presented to the Company in order to effect the exercise of the Warrants.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II, and the Pocitos I and II lithium brine projects located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia. For more information, please contact: Nader Vatanchi CEO, Director
nader@speyresources.ca 778-881-4631
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. 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 as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements 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 statements. The Company 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.
The CSE has neither approved nor disapproved the contents of this press release.
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Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (" Spey " or the " Company "), is pleased to announce that it has signed an option agreement (the "Agreement") with Recharge Resources Corp. ( CSE: RR ) ("Recharge Resources") whereby Recharge Resources may acquire up to a 100% undivided interest in the Pocitos 1 Project, an 800 hectare lithium brine project located just outside of Salta, Argentina (the "Option"). Under the terms of the Agreement, Recharge Resources may exercise the Option and earn an 80% undivided interest in the Pocitos 1 Project by paying Spey US$850,000 in cash payments and by issuing US$900,000 in common shares over a 12-month period from the date of exchange approval of the Agreement, on the following basis:
Recharge Resources may exercise the Option and earn an additional 20% undivided interest in the Pocitos 1 Project for a total of 100% interest, by paying Spey Resources an additional US$6,000,000.
Following the exercise of the option and payment of the purchase price, a royalty payment of 7.5% of the FOB price of lithium carbonate or other lithium compounds will be payable 14 days after the invoice has been settled net of expert taxes to optionor.
All the common shares issued under the Agreement will be subject to a 4 month hold period under applicable Canadian securities laws.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II, Pocitos I and II lithium brine projects located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are forward-looking statements. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com) is pleased to announce the appointment of Foremost's largest shareholder, Jason Barnard to the Company's Board of Directors (the "Board").
Mr. Barnard has over 31 years of capital markets experience. Since 2004, he has been self-employed as a private investor where he has been directly involved in raising over $500 million dollars for mining and exploration companies with a focused expertise on Canadian base metal companies. Mr. Barnard started his career with McDermid St. Laurence Securities in 1991 as a stockbroker with primary focus in mining, and mining exploration companies. Mr. Barnard then worked at Canaccord Genuity from 1997 until 2004. Mr. Barnard holds a Bachelor of Arts degree with a major in Economics from Carlton University and has obtained The Canadian Securities Course license in 1990. He first started working with and financing Foremost Lithium, previously known as Far Resources, with founder, and President Keith Anderson in 2016.
Jason Barnard comments "I look forward to working with the Board and to bringing my capital markets experience to the management team. I have a strong knowledge of the company's developments and believe my interests are very much aligned with all shareholders."
John Gravelle, Foremost Lithium's CEO and President adds "We are pleased to appoint Jason to the Board at Foremost Lithium. His long history with the company along with his capital markets experience will be enable us to promote the continued advancement of our corporate goals. We would also like to announce that Scott Taylor has resigned to pursue other opportunities. Everyone at Foremost wishes Mr. Taylor well in his future endeavours."
John Gravelle President and CEO, Foremost Lithium Resource & Technology
About Foremost Lithium Resource & Technology Ltd.
Foremost Lithium is a resource exploration company committed to having a critical role in the production of high-quality battery-grade lithium hydroxide to fuel the electric vehicle and battery storage market. Given the importance and global focus on increasing decarbonization, the company is hyper-focused on continued exploration and growth on its six lithium projects: Jean Lake, Grass River Claims, Zoro, Jol and the Peg North Claims, in Snow Lake Manitoba, and its Hidden Lake Lithium Project in the Northwest Territories. Foremost Lithium also has the Winston Gold/Silver Property in New Mexico USA.
For further information please contact:
John Gravelle President and CEO Foremost Lithium Resource &Technology Ltd. Email: info@foremostlithium.com Phone: +1 (604) 330-8067
Follow us or contact us on social media:
Twitter: @foremostlithium Linkedin: https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany Facebook: https://www.facebook.com/ForemostLithium
This news release contains "forward-looking statements" and "forward looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions, and current expectations. Such statements include but are not limited to, statements with respect to the plans for future exploration and development of the Company's properties and the acquisition of additional exploration projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates" "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: risks related to the Company's projects; risks related to general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; increases or decreases in market prices of mining consumables, possible variations in resource estimates, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, changes in applicable laws or stock exchange policies and receipt of any requires regulatory approvals and political and economic developments in areas in which the Company operates. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136368
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Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (" Giyani " or the " Company "), developer of the K.Hill battery-grade manganese project in Botswana (" K.Hill Battery Manganese Project " or " K.Hill "), is pleased to announce that it has signed a design-build contract (" Contract ") with specialist South African-based hydrometallurgical engineering firm Met63 (Pty) Ltd. (" Met63 ") for the construction of a demonstration plant (" Demo Plant ").
The Demo Plant project has the following key objectives:
The Contract covers the engineering, construction and commissioning of the Demo Plant, on an open book and cost-reimbursable basis. The capital expenditure of approximately USD9.2 million, plus incentives for Met63 based on delivery of the Demo Plant on time, within budget and on specification, will be funded from the Company's existing cash resources. Met63 is a specialist hydrometallurgical engineering and consulting company based in South Africa with a team that has extensive experience in designing hydrometallurgical circuits and specializes in advanced modular process plants for battery-grade metals.
The Demo Plant is designed for a continuous process, so that HPMSM crystals meeting the stringent product specifications set by potential off-takers can be produced in a steady state operation. To support the continuous process, the Demo Plant will be equipped with a sophisticated instrumentation and control system that also provides the flexibility to use the Demo Plant for de-risking the commercial plant development and as a training facility. The Demo Plant can produce up to 600kg of dry HPMSM crystals per day depending on feedstock characteristics.
Met63 and the Company have selected a construction site in Johannesburg where the Demo Plant will be commissioned and operated before expected relocation to Botswana. Completion of the construction of the Demo Plant is currently anticipated by mid-2023 with commissioning, ramp-up and first HPMSM product samples expected to be available for shipment in H2 2023. This timeline has been made possible by the early procurement of the longest lead items, in particular the two crystallizers and associated accessories that were ordered in March and June 2022, which are currently scheduled for delivery in Q1 2023, and make up the entire crystallization unit of the Demo Plant that will allow for it to operate on a continuous process.
The Company intends to dispatch HPMSM product to potential off-takers in the European, North American and Asian markets, a number of whom have already requested samples. Giyani's HPMSM product will then be tested to verify quality and performance characteristics prior to the conclusion of any potential off-take contracts.
Robin Birchall, CEO of the Company, commented:
"The Demo Plant is a cornerstone of our strategy for full commercial development. Its objectives are to validate our process flowsheet, de-risk commercial development of K.Hill and facilitate off-take contracts with battery and OEM customers. Signing this contract with Met63, an experienced specialist hydrometallurgical engineering firm with a proven track record in engineering and construction of battery-grade metal projects, is another step towards production and first shipments of HPMSM in the second half of 2023.
The support of our shareholders has allowed us to fund the construction and commissioning of a larger Demo Plant than originally envisaged, with a capacity of up to 600kg per day, despite inflationary pressures and cost increases across the mining industry. An increasing number of OEMs have highlighted the potential of manganese-rich cathodes and so our enlarged facility will be able to cater for increased demand for HPMSM samples.
Our low carbon process makes Giyani an ideal partner for the supply of this critical battery material. With several key catalysts on the horizon, including the release of our feasibility study on K.Hill, we are entering a very exciting phase of development."
Giyani is a mineral resource company focused on becoming one of Africa's first low-carbon producers of high-purity manganese sulphate precursor materials directly from manganese oxide ore, used by battery manufacturers for the expanding EV market, through the advancement of its manganese assets in the Kanye Basin in south-eastern Botswana, (the " Kanye Basin Prospects ") through its wholly-owned Botswana subsidiary Menzi Battery Metals (Pty) Limited. The Company's Kanye Basin Prospects consist of eight prospecting licences and include the past producing Kgwakgwe Hill mine and project, referred to as the K.Hill Battery Manganese Project, the Otse manganese prospect and the Lobatse manganese prospect, both of which have seen historical mining activities.
The Company is currently undertaking a feasibility study on the K.Hill Battery Manganese Project, following an updated preliminary assessment report announced on April 12, 2021, with a post-tax NPV of USD332 million and post-tax IRR of 80%, based on a development plan to produce around 891,000 tonnes of HPMSM over a ten year project life. An updated 43-101 technical report on the K.Hill Battery Manganese Project is available on www.sedar.com and on the Company's website at giyanimetals.com .
Met63 is a dynamic, technology-based engineering and consulting company with expertise in providing tailored engineering solutions utilising innovative and cost-effective mineral processing options. The Met63 team has extensive experience in designing hydrometallurgical circuits and specializes in advanced modular process plants for battery-grade metals. For more information about Met63, please visit met63.com .
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com
Qualified Persons / NI 43-101 Disclosures
Mr. Jacques du Toit CEng. PrEng. MscEng. PMP is a qualified person, as defined by National Instrument 43-101. Mr. du Toit is the Company's VP, Technical Services and has reviewed and approved the scientific and technical content contained in this press release but is not independent for the purposes of NI 43-101.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall CEO, Director +44 7711 313019 rbirchall@giyanimetals.com
George Donne VP Business Development +44 7866 591 897 gdonne@giyanimetals.com
Judith Webster Corporate Secretary +1 416 453 8818 jwebster@giyanimetals.com
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ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to report that it has acquired by staking 10 claims totaling approximately 5196 acres situated near Birse Lake, southeastern Manitoba, Canada, contiguous and directly east of ACME's Shatford Lake project area.
The Birse Lake claim block covers the Birse Lake pluton that has numerous pegmatite occurrences along its periphery. The project claim area has been filed with the Manitoba government and is subject to review and processing. This brings ACME's land holdings in southeastern Manitoba to approximately 17,000 acres or 70 square kilometres.
Figure 1: Shatford Lake and Birse Lake claim areas map
To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/7776/135965_110f8ed1944388a5_002full.jpg
ACME's Shatford Lake and Birse Lake claim areas are located strategically and contiguous to the south of Sinomine's world class Tanco Mine, a Lithium, Cesium and Tantalum producer (LCTs) since 1969, located in the pegmatite fields of the southern limb of the Bird River Greenstone Belt (BRGB). ACME's Cat-Euclid Lake project claims are approximately 20 kilometres to the north of the Tanco Mine.
The northern and southern limbs of the Bird River Greenstone Belt contain at least 10 pegmatite fields and host hundreds of individual pegmatite bodies, of which many are classified as complex rare-element Lithium-Cesium-Tantalum (LCT) pegmatites. In both limbs of the BRGB, pegmatites are associated with granitic intrusions into structurally dilatant zones adjacent to major east-west shear zones. Worldwide, LCT pegmatite deposits account for about one-fourth of the world's lithium production, most of the tantalum production, and all the cesium production.
ACME is in the process of completing an extensive summer exploration program at both Cat-Euclid and Shatford Lakes employing remote sensing, structural geology, ground-based geological mapping, and geochemical sampling to localize targets for drilling. Our exploration focus is on spodumene-bearing LCT pegmatites that are a source for high quality lithium that can be converted to lithium carbonate.
Dane Bridge, P. Geol. is a Qualified Person as defined by NI 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release.
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Cat-Euclid and Shatford Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson Chief Executive Officer, President and Director Telephone: (604) 564-9045 info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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(TSX.V: TORC) (OTCQB: TORCF)
TinOne Resources Inc. (TSX.V: TORC) (OTCQB: TORCF) (" TinOne " or the " Company ") is pleased to provide its second batch of results from its 100%-owned Great Pyramid Tin (Sn) Project (the " Project ") located in the tier one mining jurisdiction of Tasmania, Australia . The ongoing drill program has returned outstanding high-grade results highlighted by hole 22GPRC012 which returned 0.51% Sn over 78 metres, Including 1.09 % Sn over 23 metres from near surface in a new zone. Great Pyramid is the Company's most advanced and active project in its portfolio of high-quality tin assets and more results are expected in the coming weeks.
"These current results from Great Pyramid are some of the best ever reported from the Project and demonstrate exceptional grade and thickness in areas outside the historical resource area," commented Chris Donaldson , Executive Chairman. "The drilling continues to deliver consistent results within the historical resource area, and more importantly identifying significant mineralised zones outside the historical resource area. Our geological team is working to further develop our grade distribution model and build our geological interpretation to assist further targeted drilling and the integration with the extensive historical database."
Results have been received for 2,128 metres of the Company's ongoing 5,500 metre drilling program at the Great Pyramid Project. These results represent complete results for 15 Reverse Circulation (" RC ") drill holes, partial results for one additional RC hole and results from one diamond cored hole. Assays are being fast tracked.
Drilling commenced at the Project on April 27 , 2022. The initial program consists of approximately 5,500 metres and has several objectives:
In addition to the RC drill results reported here, an additional 2,037 metres of diamond drilling has been completed within, lateral to, and beneath the historical resource area. Drill core processing is underway with an initial 528 metres of core despatched to the laboratory.
Results reported here are from below, peripheral too and within the historical resource 1 area (Table 1). Drill holes below and peripheral to the historic resource model have returned intersections consistent with or higher grade than the historical model, including high grade intersections in 22GPRC012 from near surface outside the current resource. Deeper diamond drilling (assays pending) has confirmed the presence of mineralisation to considerable depth below the historical resource model and are consistent with historical drill data 2 which returned mineralised intervals to the limit of drilling, up to 300m below surface.
Table 1: Great Pyramid RC drill results. More significant results are shown in bold.
Inside historic resource model. Diamond tail completed (assays pending) below historical resource model.
Inside historic resource model, to end of hole, abandoned in old working.
Inside and below historical resource model.
Inside and below historical resource model.
Outside historical resource model. To the end of hole.
NOTES: All intersections are calculated with a cut-off grade of 0.1% Sn with maximum consecutive internal waste of 4 metres. All intersections are downhole widths, true widths are uncertain.
TinOne drill hole numbering is in the form 22GPRCXXX for RC holes and 22GPRDDXXX for diamond holes with numbering allocated in sequence. Analytical results have been received for holes 22GPRC002, 003, 004, 005, 006, 007, 009, 011, 012, 013, 014 ,016, 017, 018A, 019 and 021 (part). Hole 22GPRC020 failed at 12 metres and was not assayed. The target area for this hole was drilled by 22GPRC021.
Diamond holes completed to-date and with assays pending are 22GPDD001A (redrill of 22GPDD001 which was abandoned at 42.1m), 22GPDD008, 22GPDD10, 22GPDD015 and 22GPDD023. Diamond tail extensions have been completed for RC pre-collar holes 22GPRC003, 22GPRC004 and 22GPRC006 with assays pending.
The Great Pyramid deposit is located around a topographical feature known as Pyramid Hill and is hosted by Silurian to Devonian Mathinna Supergroup sandstones. The mineralization is formed by closely spaced sheeted northeast trending, cassiterite (SnO₂) bearing veins associated with silicification and sericite-pyrite alteration. The deposit style and regional comparisons suggests that a tin-fertile granite exists at depth below the deposit, however this has not been encountered in drilling and the deposit is open at depth. Geological interpretation indicates that certain sedimentary units within the folded Mathinna Supergroup sediments are more favourable hosts and diamond drilling being undertaken by the Company during the current campaign, combined with numerical modelling, will assist in developing a deeper understanding of controls on grade for follow up drilling.
The deposit is currently known over a strike length of more than 500 metres with an average width of approximately 150 metres. The depth extent of the deposit is unknown with only nine historical drill holes greater than 150 metres deep. These rare deeper holes encountered encouraging tin mineralization to depths of approximately 300 metres below surface 2 .
The previous owners of the Great Pyramid project estimated an Inferred Resource reported under the JORC 2012 guidelines. This resource contains approximately 10,000 tonnes of tin at a grade of 0.2% tin (Table 2). The estimation utilised close spaced historic percussion (~85%) and lesser diamond drill holes with drill spacing in the estimation area typically 15 x 30m and locally closer. Although the resource is defined by close spaced drilling, the resource was classified by the previous owners as Inferred due to the historic nature of the data. The estimate was reported in the independent geological report prepared by Mining One Pty Ltd for TNT Mines Ltd, dated June 26, 2017 .
Table 2: Great Pyramid Historical Inferred Mineral Resource 1
Great Pyramid Inferred Mineral Resource - JORC 2012
The Inferred Resource was estimated using Multiple Indicator Kriging method of 1.5 metre down-hole composites within a mineralized domain interpreted from tin grade. The estimate is restricted to the area of close spaced drilling and 90% of the resource occurs within 40 metres of surface. Although the limited deeper drilling has encountered mineralized material this was not included in the resource. Additional drilling utilising modern drill techniques, analytical techniques and QA/QC will be required to re-estimate the resource and report under NI 43-101.
The reader is cautioned that the above referenced "Inferred Resource" estimates are considered historical in nature and are based on prior data and reports prepared by previous property owners. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and TinOne is not treating the historical estimate as current mineral resources or mineral reserves. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimate on the Great Pyramid property can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category.
Data regarding historical drilling is sourced from Mineral Resources Tasmania online database (MRTMap). In addition, data for 18GPD001 has been sourced from a public announcement by previous owners TNT Mines, November 15, 2018. However, the "historical drill data" are considered historical in nature and are based on prior data and reports prepared by previous property owners. A qualified person has not done sufficient work to classify the historical data as current and TinOne is not treating the historical data as current. There can be no assurance that any of the historical drill data is representative.
Drill core and RC samples were shipped to ALS Limited in Brisbane, Australia for sample preparation and for analysis. The ALS, Brisbane facilities are ISO 9001 and ISO/IEC 17025 certified. Tin and tungsten are analysed by ICP-MS following lithium borate fusion (ALS method ME-MS85), overlimit results are reanalysed by XRF (ALS method XRF15b). Forty-eight element multi-element analyses are conducted by ICP-MS with a four-acid digestion (ALS method ME-MS61).
Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance / quality control protocol.
TinOne is a TSX Venture Exchange listed Canadian public company with a high-quality portfolio of tin projects in the Tier 1 mining jurisdictions of Tasmania and New South Wales, Australia . The Company is focussed on advancing its highly prospective portfolio while also evaluating additional tin opportunities. TinOne is supported by Inventa Capital Corp.
The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Dr. Stuart Smith ., Technical Adviser for TinOne. Dr. Smith is a Qualified Person as defined under the terms of National Instrument 43-101.
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 includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward‐looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: the development of the Company's projects, including drilling programs and mobilization of drill rigs; future mineral exploration, development and production; the release of drilling results; and completion of a drilling program.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of TinOne, future growth potential for TinOne and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; TinOne's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect TinOne's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and TinOne has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on early stage mineral projects; metal price volatility; risks associated with the conduct of the Company's mining activities in Australia ; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in TinOne's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although TinOne has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. TinOne does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
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Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com) is pleased to announce the addition of Johnathan A. More and Michael McLeod to the Company's Advisory Board.
Johnathan More brings over 28 years of experience in global capital markets focused primarily on natural resource industries. His distinguished tenure at Canaccord Genuity included many significant achievements and he retired in 2008 as Vice President and Advisor at the Company. Mr. More successfully transitioned from the capital markets to the public company sector where he has been responsible for numerous successful transactions in the Canadian marketplace and continues to identify and create new opportunities. He currently serves as Chairman & CEO of Starr Peak mining Ltd, a Canadian company focused on gold exploration. Mr. More is also Chairman and CEO of Power Metals Corp., a Canadian company focused on Lithium, Cesium and Tantalum exploration.
Mike McLeod has over 40 years of experience in the corporate financial services industry with a strong network in the capital markets. He has been a long term member of the Canadian Investor Relations Institute and Governance Professionals of Canada. Mr. McLeod has served as a global advisor and counseled many boards of directors and management teams on a wide range of topics including corporate governance, capital markets intelligence, M&A transactions, and shareholder engagement and communications. Mr. McLeod currently serves as a senior director at Morrow Sodali.
President and CEO John Gravelle states on behalf of our entire team, "I would like to welcome Johnathan and Mike to the Company. The management team of Foremost believe that both Jonathan's and Mike's extensive experience and knowledge will readily advance the progress of our many exciting projects and assist the company in meeting our strategic goals. Johnathan's working knowledge of the lithium exploration space will be invaluable to our Company, and Mike brings a demonstrative skill set in corporate governance, investor relations and overall strategic shareholder engagement. We look forward to utilizing their knowledge immediately."
The Company announced that that it had granted incentive stock options as per news release dated September 02, 2022, to purchase an aggregate of 1,000,000 common shares of the Company at an exercise price of $0.255 per common share expiring three years from the date of grant. A further 400,000 options will be granted and available to purchase at an exercise price of $0.275 per common share expiring three years from the date of grant, and are both subject to regulatory approval. The stock options are granted to certain officers, directors, consultants, employees, and advisors to the Company in accordance with the terms and conditions of the Company's Rolling Stock Option Plan and the policies of the Canadian Securities Exchange.
John Gravelle President and CEO, Foremost Lithium Resource & Technology
About Foremost Lithium Resource & Technology Ltd.
Foremost Lithium is a resource exploration company committed to having a critical role in the production of high-quality battery-grade lithium hydroxide to fuel the electric vehicle and battery storage market. Given the importance and global focus on increasing decarbonization, the company is hyper-focused on continued exploration and growth on its six lithium projects: Jean Lake, Grass River Claims, Zoro, Jol and the Peg North Claims, in Snow Lake Manitoba, and its Hidden Lake Lithium Project in the Northwest Territories. Foremost Lithium also has the Winston Gold/Silver Property in New Mexico USA.
For further information please contact:
John Gravelle President and CEO Foremost Lithium Resource &Technology Ltd. Email: info@foremostlithium.com Phone: +1 (604) 330-8067
Follow us or contact us on social media:
Twitter: @foremostlithium Linkedin: https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany Facebook: https://www.facebook.com/ForemostLithium
This news release contains "forward-looking statements" and "forward looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions, and current expectations. Such statements include but are not limited to, statements with respect to the plans for future exploration and development of the Company's properties and the acquisition of additional exploration projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates" "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: risks related to the Company's projects; risks related to general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; increases or decreases in market prices of mining consumables, possible variations in resource estimates, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, changes in applicable laws or stock exchange policies and receipt of any requires regulatory approvals and political and economic developments in areas in which the Company operates. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business.
UNITED STATES ADVISORY. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), have been offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.
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Foremost Lithium Resource & Technology Ltd. (CSE: FAT) ("Foremost" of the "Company") announces that it has granted incentive stock options to a consultant of the Company to purchase an aggregate of 1,000,000 common shares of the Company at an exercise price of $0.255 per common share expiring three years from the date of grant. The stock options are granted in accordance with the Company's Stock Option Plan, which was approved by the shareholders at the Company's annual general meeting, and the policies of the Canadian Securities Exchange.
For and on behalf of the Board John Gravelle President and CEO
Information Contact John Gravelle, President & CEO Foremost Lithium Resource & Technology, LTD. info@foremostlithium.com
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
This news release may contain forward-looking statements, which relate to future events or future performance, including planned exploration, and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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