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Gold/Mining/Energy Rare Earth Elements and Exotic Metals

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To: LoneClone who wrote (21073)	5/26/2023 1:00:48 PM
From: LoneClone	of 23643

K9 Gold Signs Agreement to Add 3300 Ha to the JB Lithium Project, N. Quebec. newsfilecorp.com Vancouver, British Columbia--(Newsfile Corp. - May 24, 2023) - K9 Gold Corp. (TSXV: KNC) (FSE: 5GP) (OTCQB: WDFCF) ("K9" or the "Company") is pleased to announce that it has entered into a definitive share exchange agreement (the "Agreement") to acquire 1415322 B.C. LTD. ("141 BC") from the shareholders of 141 BC in exchange for an aggregate of 3,000,000 common shares (the "Company Shares") in the capital of the Company issued to the shareholders on a pro-rata basis (the "Transaction"). On closing of the Transaction, the Company will add 64 claims (3304 Ha) to its JB lithium project in the James Bay region of northern Quebec. This will bring the total project holdings to 5418 Ha in 105 claims. An aggressive summer exploration is now planned and is fully funded. The Lac Joubert-Tilly (LJ-T) property (the "Property") is located approximately 60 km due east of the previously announced Rivière Salomon (RS) property on the JB Li Project. The LJ-T property is located approximately 400 km east-southeast of Radisson, Quebec, and is immediately adjacent to Winsome Resources recently announced Tilly Project (Winsome company release April 19, 2023). Other projects in the area include Allkem's James Bay lithium project, which recently received federal approval for development, Patriot Battery Metals Corvette project located 50 km to the west and Winsome Resources Lithium Adina project located approximately 40 km to the west. The LJ-T property is underlain by a package of Archaean rocks that is similar to the geological setting of the Corvette and Adina projects, and includes outcrops of Tilly pegmatites, a known host of lithium in the James Bay region. About JB Lithium Project The JB Lithium Project is located in the La Grande sub-province of the Archaean Superior Province in Quebec, and comprises two units, the Rivière Salomon property (see Company release November 15, 2022 for property details) and the newly acquired Lac Joubert - Tilly property. Lac Joubert-Tilly (LJ-T) property The LJ-T property is underlain mainly by the Archean Joubert Suite and the Salomon River formation. Where the Joubert Suite occurs on the property, it consists of a package of foliated, banded or gneissic biotite-tonalite and granodiorite. The Salomon River formation in the area consists mainly of paragneisses that have undergone moderate partial melting, with 10% or more mobilisate. Within the property boundaries, the Salomon River formation has been intruded by at least five zones of Tilly Pegmatites which comprise pegmatitic granite with biotite-muscovite-tourmaline-magnetite-garnet assemblages. These pegmatites are a significant lithium target for other explorers in this area. They are in close proximity to the Joubert Suite tonalites which are believed to be the source of lithium in regional discoveries. A 2015 Quebec Government geological mapping program located at least six outcrops of pegmatitic granite, consistent with the Tilly Pegmatites. In addition, one outcrop of an ultramafic intrusive returned an assay of 77 ppm Li, along with 0.10% Ni and 0.30% Cr. Rivière Salomon (RS) property The Trieste Formation, which hosts lithium mineralization on the adjacent Adina property, transects the RS property. Within the property boundaries, this Meso-Archaean age formation is mainly an ensemble of mylonites and banded amphibolites derived from basalt, which have been intruded by various intermediate rocks. A significant band of tonalite, part of the Meso-Archaean age Kamusaawach Intrusion, cuts through the centre of the property. Also cutting through the claims is a band of the Neo-Archaean Richardie Suite, an intrusive biotite-magnetite-hornblende granodiorite. The northern portion of the property is underlain by the Neo-Archaean Sauvolles Pluton, which is mainly of granitic composition. There is also a prominent Paleoproterozoic-age mafic dyke (Senneterre dyke system) cutting through the north of the property with a NE-SW orientation. During a regional mapping program in 2013 by Government geologists, one outcrop was collected sample from the property, reported in the Quebec Government's online geological database, SIGÉOM, an returned a value of 65 ppm Li. K9 has recently completed a helicopter-borne magnetometer and VLF survey on this property. Results will be reported on completion of data interpretation. Lac Joubert - Tilly acquisition terms Pursuant to the Agreement, the Company will acquire from the shareholders of 141 BC (collectively, the "Shareholders") all of the issued and outstanding common shares in the capital of 141 BC, in exchange for 3,000,000 Company Shares, issued to the Shareholders on a pro-rata basis. Following the closing of the Transaction, 141 BC will be a wholly owned subsidiary of the Company. 141 BC is a party to an option agreement (the "Option Agreement") whereby, pursuant to the terms of the Option Agreement, 141 BC may acquire a 100% interest in the Property upon the completion of certain expenditures and cash payments. The Transaction is subject to the review and approval of the TSX Venture Exchange (the "TSXV"). The Company anticipates closing the Transaction shortly after the approval of the TSXV. About K9 Gold Corp K9 Gold Corp has assembled a highly-experienced and dynamic team to explore its JB Lithium Project. K9 also operates the Stony Lake Gold Project in central Newfoundland. The project has been acquired from District Copper Corp by an option agreement, whereby K9 can earn up to a 100% interest in the project (see Company release dated July 30, 2020). The Company also owns a 100% interest in the Desert Eagle Vanadium-Uranium project located in the historic Henry Mountains Mining District in SE Utah. The area has seen extensive historic vanadium and uranium mining and is close to Anfield Energy Inc's Shootaring Canyon mill. To ensure a safe workplace environment that protects the health and safety of employees and contractors, K9 Gold follows all federally and provincially mandated and recommended guidelines regarding Covid 19. Chris M. Healey, P. Geo, Chief Geologist and a Director of K9 Gold Corp., is the qualified person under NI 43-101 guidelines who is responsible for the technical content of this release and approves its release. Toll Free Number: (833) 434-GOLD (4653) Kosta Tsoutsis Director K9 Gold Corp. email: kosta@k9goldcorp.com Telephone: 604 808-9134 Brian Morrison Chief Financial Officer and Director K9 Gold Corp. email: brian@k9goldcorp.com telephone: 604 312-6910 The Company is listed on the TSX Venture Exchange. 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 release. Disclaimer for Forward-Looking Information Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding K9's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits K9 will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including K9's inability to identify transactions having satisfactory terms or at all and the results of exploration or review of properties that K9 does acquire. These forward-looking statements are made as of the date of this news release and K9 assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

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To: LoneClone who wrote (21074)	5/26/2023 1:02:59 PM
From: LoneClone	of 23643

Beyond Lithium Continues Expansive Sampling Campaign over Multiple Projects; Ongoing 2023 Phase 1 Exploration Program on Schedule and on Budget HIGHLIGHTS The field crews are on track to complete the Phase 1 fully funded exploration program before August including prospecting, mapping, and sampling of all 64 properties in Ontario (Fig. 1). Since the beginning of the Phase 1 exploration program, three teams have covered a total of 15 properties including six properties in the Dryden Mavis Lake area, three properties in the McKenzie Bay area, three properties in the Mountairy and Hill Top Lake areas, and three properties in the Escape Lake area (Fig. 2). Exploration teams have now begin prospecting six properties in the Georgia Lake area around Rock Tech Lithium’s Georgia Lake deposit and Imagine Lithium Inc. and two properties in the Hearts area. A fourth team will be deployed in early June to the Case Lake area to prospect three properties around Power Metals’ Case Lake property. Historical drill core of three properties that intercepted pegmatites will be relogged and sampled by a senior geologist in June with results expected in July. The LiDAR survey on the Wisa property is anticipated to start in early June and the final report is expected to be delivered in July. Beyond has submitted 73 samples to a lab in Red Lake, Ontario for analysis with an additional 66 collected samples to be submitted for analysis shortly. (Fig. 3) The average turnaround time is expected to be about four weeks. Veteran geologist, Graeme Evans has been appointed as Technical Advisor. newsfilecorp.com Winnipeg, Manitoba--(Newsfile Corp. - May 26, 2023) - Beyond Lithium Inc. (CSE: BY) (OTCQB: BYDMF) (the "Company" or "Beyond Lithium") is pleased to announce that its fully funded 2023 Phase 1 exploration program is progressing on schedule and on budget with prospecting and sampling surveys now completed at multiple properties, and ongoing sampling to continue in the weeks ahead over several additional properties across Ontario. Samples are being submitted to an accredited laboratory for analysis and additional sample submissions will follow as the Company's programs continue. In addition, the Company announces that it has further strengthened its technical team by appointing veteran geologist, Graeme Evans as Technical Advisor. Allan Frame, President and CEO of Beyond Lithium commented: "I am glad to report that our technical team, under the leadership of our VP Exploration, Lawrence Tsang, is proceeding on schedule and on budget with our fully funded 2023 exploration program. I am also pleased to announce the appointment of accomplished geologist Graeme Evans as Technical Advisor. Both Lawrence and I have had the opportunity to work closely with Graeme on other exploration projects and feel his addition to our existing technical team will increase our ability to explore our entire portfolio comprehensively and effectively with a view to identifying and prioritizing drilling targets." Graeme Evans graduated from the University of British Columbia Sc. Geology and has worked for more than 40 years in mineral exploration throughout North America. Graeme's experience includes grassroots to advanced feasibility programs exploring for porphyries, sedex, VMS, skarns, and mesothermal and epithermal gold systems for a number of senior mining companies including Hudson Bay Mining, B.P. Selco, Inmet, and more recently, Teck Resources between 1991 and 2009. With Teck, Graeme worked for several years on generative programs focused on gold and nickel projects in Ontario. Since 2009, Graeme has consulted for various junior companies including Ascot Resources from 2009 to 2018. Graeme is a registered Professional Geologist (P.Geo) in British Columbia and Ontario. Phase 1 Exploration Program Update The Phase 1 exploration program is designed to sample, map and assess over 500 mapped pegmatites across all 64 Beyond Lithium properties totalling over 150,000 hectares. Most of the properties are accessible via highways and logging roads which allow the field crews to prospect the properties efficiently. The field crews commenced the Phase 1 exploration program in southern Ontario and, as the melting snow conditions permit, are moving progressively north, towards the Pak & Spark deposit owned by Frontier Lithium and the McKenzie Bay area near Green Technology Metals' McCombe Deposit. Figure 1: Locations of Beyond Lithium properties in Ontario in relation to Railway, Hydro Lines, and proximity to towns and communities To view an enhanced version of this graphic, please visit: images.newsfilecorp.com The 64 Beyond Lithium properties located in Ontario (Fig. 1) are exploration properties that historically have not been prospected or explored specifically for Lithium or Lithium-Cesium-Tantalum pegmatites. Beyond Lithium has reviewed the historical and regional data available of all the properties and geo-referenced most of the mapped pegmatite outcrops. The main focus of the Phase 1 exploration program is to assess and systematically sample these mapped pegmatite outcrops, identify new pegmatite showings, and locate prospective regional or terrane structures. Beyond Lithium commenced the Phase 1 exploration program with three crews prospecting around the Dryden-Mavis Lake district. Shortly after, two teams moved up to prospect three properties in the McKenzie Bay area and the third crew moved south to prospect in the Mountairy and Hill Top areas, as well as the Escape Lake area near Thunder Bay. Over the last two weeks, the three prospecting crews have covered a total of 15 properties (Fig. 2). The three teams will now begin prospecting in the Georgia Lake area and the Hearts area, while a fourth crew will be deployed to the Case Lake area to prospect three properties in early June. Figure 2: Beyond Lithium Phase 1 prospected properties To view an enhanced version of this graphic, please visit: images.newsfilecorp.com Around the Dryden-Mavis Lake area, white pegmatites measuring up to 5 metres in width have been mapped and sampled. Some pegmatites were also noted with green micas and minor garnet, showing encouraging signs that fertile granites may be nearby. Field notes from the other areas are being compiled and the first batch of 73 samples have been submitted to the lab with results expected in the coming weeks. The geochemical database will be compiled and updated as results become available. Ongoing analysis of the expanding database will assist in target delineation, and the prioritizing of properties for the Phase 2 program. The re-examination and sampling of core from the historical pegmatite drill intercepts from three properties are expected to be completed in June of 2023 and could provide critical guidance for follow up drill targeting. Results are expected in July. The LiDAR survey for the Wisa Lake property is anticipated to be conducted in early June of 2023 and the final report should be delivered by July. The LiDAR survey will provide a detailed digital elevation model (DEM) of the area which can be useful in identifying and prioritizing areas within the property evidencing the highly prospective combination of outcrop and structure. Figure 3: Locations of grab samples of pegmatites in the Dryden-Mavis Lake area from the Phase 1 exploration program (assays pending) To view an enhanced version of this graphic, please visit: images.newsfilecorp.com The Company has granted 50,000 incentive stock options (the "Options"), 1,450,000 stock appreciation rights (the "SARs"), and 535,000 restricted share units (the "RSUs") to certain directors, officers, and consultants of the Company subject to certain vesting requirements. Each Option is exercisable into one common share of the Company (a "Common Share") at a price of $0.33 per share upon vesting, for a period of one year from the date of grant. Upon vesting, each SAR entitles the holder to receive Common Shares in an amount equal to the difference in the fair market value of the Common Shares on the date of grant (i.e., $0.33 per share) and the market price of the Common Shares on the settlement date, for a period of one year from the date of grant. Each vested RSU entitles the holder to receive one Common Share. All grants of Options, SARs, and RSUs are subject to the Company's omnibus equity incentive plan (the "Equity Incentive Plan"), which was approved by shareholders at the Company's annual general and special meeting of shareholders held on May 15, 2023 (the "Meeting"). A copy of the Equity Incentive Plan is included in the Company's management information circular in respect of the Meeting dated April 10, 2023 available via the Company's profile on SEDAR at www.sedar.com. Qualified Person and Third-Party Data The scientific and technical information in this news release has been reviewed and approved by Lawrence Tsang, P.Geo., VP Exploration of the Company. Lawrence Tsang is a "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. About Beyond Lithium Inc. Beyond Lithium Inc. is the largest greenfield lithium exploration player in Ontario with 64 high potential greenfield lithium properties totalling over 150,000 hectares. The Company has adopted the project generator business model to maximize funds available for exploration projects, while minimizing shareholder dilution. Beyond Lithium is advancing certain of its projects with its exploration team and will seek to option other properties to joint venture partners. Partnering on various projects will provide a source of non-dilutive working capital, partner-funded exploration, and long-term residual exposure to exploration success. Please follow @BeyondLithium on Twitter, Facebook, LinkedIn, Instagram and YouTube. For more information, please refer to the Company's website at www.beyondLithium.ca. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking information. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In stating the forward-looking information in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company's properties, the availability of financing on suitable terms, and the Company's ability to comply with environmental, health and safety laws. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the statements of forward-looking information. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, the proposed expenditures for exploration work on its properties, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics such as COVID-19, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated February 23, 2022 and other filings of the Company with the Canadian securities regulatory authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update any of the forward-looking information in this news release except as otherwise required by law. For further information, please contact: Alan Frame President and CEO Tel: 403-470-8450 Email: allan.frame@beyondLithium.ca Jason Frame Manager of Communications Tel: 587-225-2599 Email: jason.frame@beyondLithium.ca 18.0 Mt at 1.07% Li2O Maiden Mineral Resource at Mavis Lake, See Critical Resources (ASX: CRR) announcement released 4 May 2023 2See Green Technology Metals (ASX: GT1) Wisa Project Qualified Person and Third-Party Data

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To: LoneClone who wrote (21075)	5/26/2023 1:05:00 PM
From: LoneClone	of 23643

Rock Tech Lithium Options Additional Property in Thunder Bay Mining District and Appoints Strategic Advisor for Georgia Lake Project newswire.ca Rock Tech Lithium Inc. 25 May, 2023, 07:00 ET Rock Tech Enters into an Option Agreement for a 100% Acquisition of the "Boston Lake Claims" in the Thunder Bay Mining District, Ontario Claims will Expand Rock Tech's Footprint in the District, as well as Provide Additional Exploration Potential CIBC Capital Markets ("CIBC") Mandated to Assist in Selection of a Strategic Partner to Jointly Advance the Georgia Lake Project VANCOUVER, BC, May 25, 2023 /CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce that it has entered into an option agreement (the "Agreement") to acquire a 100% undivided interest in a total of 6,150 hectares in the Thunder Bay Mining District of Ontario (the "Boston Lake Claims"). Adding to the Company's Georgia Lake Project, these claims will expand Rock Tech's footprint in the District, as well as provide additional lithium exploration potential in a region that is already historically well-studied. Map shows Rock Tech’s Georgia Lake Project and the Boston Lake Claims in the Thunder Bay Mining District of Ontario. Rock Tech Options Additional Property in Thunder Bay Mining District and Appoints Strategic Advisor for Georgia Lake Project (CNW Group/Rock Tech Lithium Inc.) Robert MacDonald, General Manager at Rock Tech's mining entity, noted: "As leaders in lithium exploration in the Thunder Bay Area, Rock Tech is keen to add to its land position with perspective properties. The Georgia Lake Project contains over 50% of the published Mineral Resources in the Thunder Bay District and the Boston Lake mining claims offer an exciting opportunity to expand our exploration footprint." Pursuant to the terms of the Agreement, Rock Tech has made an initial deposit and will make additional annual cash payments totaling CAD 175,000 until the third anniversary of this agreement. Concurrent with the cash payments, the Company will additionally issue in total CAD 175,000 in shares. This Agreement and the Georgia Lake Project which has successfully completed Pre-Feasibility stage1 demonstrate Rock Tech's continued ambition and growth path in its home market. Additionally, the Company is excited to announce the appointment of CIBC as Strategic Advisor. CIBC, a longstanding participant in the mining industry, will assist in the selection of a strategic partner to jointly advance the 100%-owned Georgia Lake Project. "We are delighted to have partnered with CIBC and their strong, globally networked Capital Markets team. CIBC will work closely with Rock Tech to ensure we find the strongest strategic partnership to develop our Georgia Lake asset. With the PFS successfully completed, and the latest exploration drilling programs progressing, the project is now significantly de-risked and represents a unique opportunity to invest in a high-quality hard rock lithium project in Canada," Sonja Rossteuscher, Rock Tech's Chief Financial Officer, stated. _____________________________________ 1 Pre-Feasibility Study (PFS); ref. press release "Rock Tech Lithium completes Pre-Feasibility Study for its Georgia Lake Project", issued November 15, 2022 On behalf of the Board of Directors,? Dirk Harbecke Chairman?& CEO ABOUT ROCK TECH Rock Tech is a cleantech company with operations in Canada and Germany on a mission to produce lithium hydroxide for electric vehicle batteries. The Company plans to build lithium converters at the door-step of its customers, to guarantee supply-chain transparency and just-in-time delivery, beginning with the Company's proposed lithium hydroxide merchant converter and refinery facility in Guben, Germany. To close the most pressing gap in the clean mobility story, Rock Tech has gathered one of the strongest teams in the industry. The Company has adopted strict environmental, social and governance standards and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its wholly-owned Georgia Lake spodumene project located in the Thunder Bay Mining District of Ontario, Canada, as well as procuring it from other responsibly producing mines. In the years to come, the Company expects to also source raw material from discarded batteries. Rock Tech's goal: to create a closed-loop lithium production system. www.rocktechlithium.com Neither the 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 NOTE CONCERNING FORWARD-LOOKING INFORMATION Certain statements contained in this news release constitute "forward-looking information" under applicable securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans", "predicts", "believes", "estimates", "intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative versions thereof and other similar expressions are intended to identify forward-looking statements. In particular, forward-looking statements contained in this news release include: estimations or predictions about the Mineral Resource or Reserve therein; the further potential of the Boston Lake Claims; and the Company's future plans and expectations as described in the section "About Rock Tech". Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from the forward-looking statements. The material factors or assumptions used to develop the forward-looking statements include: the Exploration Expenditures, the existence of certain spodumene pegmatites, the possible type of mining and concentration of lithium; the distance required for transportation of concentrate; the Company's ability to procure equipment necessary for its business; that all required regulatory approvals and permits can be obtained on the necessary terms in a timely manner; and that financing will be available to the Company on commercial terms. There may also be other factors that cause actual results to differ materially from the forward-looking statements, including the risks, uncertainties and other factors discussed in the Company's most recent management's discussion and analysis and annual information form filed with the applicable securities regulators. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, and the Company cautions the reader not to place undue reliance upon any such forward-looking statements. The Company does not intend, nor does it assume any obligation to update or revise any of the forward-looking statements, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law. ATTACHMENT Map 1 \| Rock Tech's Georgia Lake Project and the Boston Lake Claims in the Thunder Bay Mining District of Ontario. SOURCE Rock Tech Lithium Inc. For further information: André Mandel, phone: +49 (0) 2102 89 41 116; or email: amandel@rocktechlithium.com,??Rock Tech Lithium Inc.; 777 Hornby Street, Suite 600, Vancouver, B.C., V6Z 1S4?

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To: LoneClone who wrote (21076)

5/26/2023 1:07:53 PM

From: LoneClone

[Vanadium] Largo Reports First Quarter 2023 Financial Results and Provides Update to 2023 Operational and Sales Outlook

ca.finance.yahoo.com

Business Wire
May 10, 2023·17 min read

All dollar amounts expressed are in thousands of U.S. dollars unless otherwise indicated.

Q1 2023 and Other Highlights

Revenues of $57.4 million, a 35% increase over Q1 2022, mainly due to greater sales quantities at a higher revenue per lb sold1; Revenues per pound sold1 of $9.14, a 5% increase over Q1 2022

Operating costs of $45.9 million vs. $29.0 million in Q1 2022, and cash operating costs excluding royalties per pound1 of V2O5 equivalent sold of $5.15 vs. $3.97 in Q1 2022

Net loss of $1.2 million vs. a net loss of $2.0 million in Q1 2022

Cash provided before working capital items of $8.2 million, a 42% increase over Q1 2022

In January 2023, the Company secured two debt facilities: a two-year debt facility of $15.0 million, bearing interest at 6.85% per annum with payments due quarterly and principal repayments starting after a grace period of 180 days, and a three-year debt facility of $10.0 million, bearing interest at 8.36% per annum with an initial fee of 0.70% and payments due semi-annually with principal repayments starting after a grace period of 360 days

Cash balance of $61.6 million, debt of $65.0 million and a net working capital2 surplus of $119.3 million exiting Q1 2023

Total V2O5 equivalent sales of 2,849 tonnes (including 245 tonnes of purchased material), a 28% increase over Q1 2022; V2O5 production 2,111 tonnes (4.6 million lbs3) vs. 2,441 tonnes (4.4 million lbs3) in Q1 2022

The Company has adjusted its annual 2023 V2O5 equivalent production guidance to 9,000 – 11,000 tonnes from 11,000 – 12,000 tonnes, its annual 2023 V2O5 equivalent sales guidance to 8,700 – 10,700 tonnes from 10,300 – 11,300 tonnes and its cash operating cost excluding royalties per lb sold guidance to $4.85 – 5.65 from $4.85 – 5.25

Q1 2023 results conference call and webcast: Thursday, May 11th at 1:00 p.m. ET

Vanadium Market Update4

Spot demand remained strong in Q1 2023, primarily due to higher-than-expected demand from the aerospace sector with demand in the energy storage market anticipated to increase in future quarters largely due to anticipated Chinese vanadium redox flow battery ("VRFB") deployments

The average benchmark price per pound of V2O5 in Europe was $10.39 in Q1 2023, a 3% decrease from the average of $10.72 seen in Q1 2022; The average benchmark price per kg of ferrovanadium ("FeV") in Europe was $39.46 in Q1 2023, a 15% decrease from the average of $46.17 seen in Q1 2022, mainly due to lower spot demand from the steel sector in the quarter

TORONTO, May 10, 2023--( BUSINESS WIRE)--Largo Inc. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) today released financial and operating results for the three months ended March 31, 2023. The Company reported quarterly vanadium pentoxide ("V2O5") equivalent sales of 2,849 tonnes at a cash operating cost excluding royalties per pound1 sold of $5.15.

This press release features multimedia. View the full release here: businesswire.com

Largo Reports First Quarter 2023 Financial Results and Provides Update to 2023 Operational and Sales Outlook (Photo: Business Wire)

Daniel Tellechea, Interim CEO and Director of Largo, stated: "While first quarter results were in line with our annual 2023 guidance, we have revised our 2023 production, sales and cost guidance due to heavy rain in December causing the Company to delay its infill drilling campaign for 2023, which is required for further refinement of the Company's short-term mining model. Returning to normalized production levels remains the top priority for Largo as we work through this period of adjustment in our mining operations."

He continued: "However, we should not overlook the upcoming catalysts for the Company in 2023. We continued to progress with the construction of our ilmenite concentration plant during the first quarter and expect to complete construction in Q2 2023, with commissioning and ramp up following shortly thereafter. In addition, installation of our 6.1 megawatt-hour vanadium battery in Spain continued during Q1 2023 with final provisional acceptance scheduled for Q3 2023." He concluded: "As for the market, vanadium prices decreased approximately 6% in April 2023 as a result of lower short-term steel demand. Despite this, we believe vanadium's long-term and medium-term fundamentals remain strong, with considerable demand growth expected in the future from battery applications."

Financial Results

(thousands of U.S. dollars ($), except for basic (loss) per share and diluted (loss) per share)	Three months ended
	March 31, 2023	March 31, 2022
Revenues	57,421	42,688
Operating costs	(45,931)	(28,958)
Direct mine and production costs	*(28,419)*	(17,560)
Net income before tax	715	814
Income tax (expense)	(333)	(602)
Deferred income tax (expense)	(1,589)	(2,166)
Net (loss)	(1,207)	(1,954)
Basic (loss) per share	($0.02)	($0.03)
Diluted (loss) per share	($0.02)	($0.03)

Cash provided before working capital items	8,150	$5,751
Net cash provided by (used in) operating activities	4,953	(4,050)
Net cash provided by financing activities	25,305	385
Net cash (used in) investing activities	(23,406)	(4,268)
Net change in cash	7,104	(5,396)
	As at
	March 31, 2023	December 31, 2022
Cash	61,575	54,471
Debt	65,000	40,000
Working capital surplus2	119,345	115,171

Maracás Menchen Mine Operational and Sales Results

	Q1 2023	Q1 2022

Total Ore Mined (tonnes)	341,967	303,652
Ore Grade Mined - Effective Grade5 (%)	0.81	1.27

Concentrate Produced (tonnes)	78,695	92,324
Grade of Concentrate (%)	2.99	3.21
Global Recovery6 (%)	83.0	77.5

V2O5 Produced (Flake + Powder) (tonnes)	2,111	2,442
V2O5 produced (equivalent pounds3)	4,653,953	5,383,682
V2O5 Equivalent Sold (tonnes)	2,849	2,232
Produced V2O5 equivalent sold (tonnes)	2,604	2,153
Purchased V2O5 equivalent sold (tonnes)	245	79

Cash Operating Costs Excluding Royalties per pound ($/lb)1	5.15	3.97
Revenues per pound sold ($/lb)1	9.14	8.67

Q1 2023 Financial Highlights

During Q1 2023, the Company recognized revenues of $57.4 million from sales of 2,849 tonnes of V2O5 equivalent (Q1 2022 – 2,232 tonnes). This represents a 35% increase in revenues over Q1 2022 ($42.7 million) and is mainly due to greater sales quantities at a higher revenue per lb sold1.

Operating costs of $45.9 million in Q1 2023 (Q1 2022 – $29.0 million) include direct mine and production costs of $28.4 million (Q1 2022 – $17.6 million), conversion costs of $1.9 million (Q1 2022 – $1.8 million), product acquisition costs of $4.2 million (Q1 2022 – $1.6 million), royalties of $2.4 million (Q1 2022 – $2.0 million), distribution costs of $1.4 million (Q1 2022 – $1.4 million), depreciation and amortization of $7.3 million (Q1 2022 – $4.3 million) and iron ore costs of $0.3 million (Q1 2022 - $0.2 million). The increase in direct mine and production costs is attributable to low ore availability due in part to the heavy rains in December 2022, as well as a shutdown for the completion of the planned maintenance and refractory refurbishment in the kiln. Higher mining costs, the lack of production stability and the ramp up following the shutdown negatively impacted costs in Q1 2023. In addition, as compared with Q1 2022, the Company experienced cost increases in critical consumables, including sodium carbonate, as well as increased consumption of ammonium sulfate.

Cash operating costs excluding royalties per pound1 sold were $5.15 in Q1 2023, compared with $3.97 in Q1 2022. The increase seen in Q1 2023 compared with Q1 2022 is largely due to the reasons noted above for operating costs, with the previously noted plant shutdowns negatively impacting operational and financial performance for the quarter.

Professional, consulting and management fees were $5.5 million in Q1 2023, compared with $5.9 million in Q1 2022, representing a 6% decrease. The decrease is primarily due to lower costs incurred for Largo Physical Vanadium Corp. ("LPV") in Q1 2023 than in the previous comparative quarter.

Other general and administrative expenses were $3.3 million in Q1 2023, compared with $1.7 million in Q1 2022. The increase is primarily attributable to increased depreciation in Q1 2023 from the Company's software intangible asset, as well as increased IT related costs in support of the Company's enterprise resource planning ("ERP") software implementation. The Company also saw increased costs at LCE, which are primarily related to increased travel costs arising from its battery installation activities in Spain.

Share-based payments in Q1 2023 decreased from Q1 2022 by 266% to an expense recovery of $1.3 million. The decrease was attributable to the reversal of share-based payment expenditures on forfeited unvested stock options and restricted share units ("RSUs") as well as a reduced number of stock options and RSUs granted in Q1 2023, as compared with Q1 2022.

Finance costs were $1.4 million in Q1 2023, compared with $0.2 million in Q1 2022. The increase is attributable to increased debt, as well as an initial financing fee on the Company's new debt facilities.

Technology start-up costs were $2.8 million in Q1 2023, representing a 7% decrease over Q1 2022. These costs relate to activities at LCE focussed on the deployment of its initial VCHARGE VRFB system in Spain with the quarter seeing increased activity by the field service team and higher transportation and installation costs.

Cash provided by financing activities in Q1 2023 increased from cash provided by financing activities in Q1 2022 by $24.9 million. The movement is primarily due to the receipt of debt of $25.0 million.

Cash used in investing activities in Q1 2023 of $23.4 million is an increase from the $4.3 million seen in Q1 2022. This is primarily due to capital expenditures for the ilmenite project and purchases of vanadium assets by LPV of $8.6 million.

Additional Corporate Updates

Q1 2023 Production Overview: Production of 2,111 tonnes of V2O5 in Q1 2023 was 14% lower than the 2,442 tonnes of V2O5 produced in Q1 2022. In Q1 2023, the Company experienced reduced massive ore inventory arising from the heavy rainfall in December 2022. The planned kiln maintenance and refractory refurbishment initially scheduled for February was completed in January during the stoppage in operations. In Q1 2023, the transition in mining contractor was completed and 341,967 tonnes of ore were mined with an effective grade5 of 0.81% of V2O5. The ore mined in Q1 2023 was 13% higher than in Q1 2022. The Company produced 78,695 tonnes of concentrate with an effective grade5 of 2.99%. The global recovery6 achieved in Q1 2023 was 83.0%, an increase of 7.1% from the 77.5% achieved in Q1 2022 and 11.1% higher than the 74.7% achieved in Q4 2022. The global recovery6 in January was 83.1%, with 82.9% achieved in February and 82.7% achieved in March. Subsequent to Q1 2023, production in April 2023 was 676 tonnes of V2O5 equivalent.

Q1 2023 High Purity Production: In Q1 2023, the Company produced 1,041 V2O5 equivalent tonnes of high purity products, including 813 tonnes of high purity V2O5 and 228 tonnes of high purity vanadium trioxide ("V2O3"). This represented 49% of the total quarterly production.

Q1 2023 Sales Overview and Outlook: In Q1 2023, the Company sold 2,849 tonnes of V2O5 equivalent (Q1 2022 – 2,232 tonnes), including 245 tonnes of purchased products (Q1 2022 – 79 tonnes). Logistical challenges and transport costs have eased from their highs and the Company expects further improvements in the coming quarters and the Company continued to deliver on all its commercial commitments. The Company has also committed to the purchase of 60 tonnes per month of V2O5 from third parties for the remainder of the year. Subsequent to Q1 2023, sales in April 2023 were 1,101 tonnes of V2O5 equivalent, including 78 tonnes of purchased material.

Stack Manufacturing Facility Improvements at LCE: All building improvements at Largo Clean Energy’s ("LCE") facility in Wilmington, Massachusetts were completed during Q1 2023. Stack manufacturing has moved into its final location and LCE will now begin the process of restarting and scaling up the capacity to 12.5 megawatts ("MW") by the end of the year, with an ultimate capacity of 100 MW by the end of 2025. The sub-scale and chemistry teams have moved into their new lab, which, following an upgrade over the next two quarters, will increase the material and core technology testing capacity to support new vendors and performance improvements.

Promotion of Paul Vollant to Chief Commercial Officer: Effective May 9, 2023, Largo has promoted Paul Vollant to Chief Commercial Officer in order to oversee all sales and strategic business development efforts related to the commodity division of the Company. His promotion reflects an unwavering commitment and support of the Company's sales efforts to date, including the establishment and oversight of Largo's sales and trading department. Mr. Vollant is highly experienced in the sales and marketing of metals and minerals and has specialized in strategic metals, particularly vanadium and titanium. Mr. Vollant joined Largo in 2019 as Director of Sales and Trading and was subsequently promoted to Vice President of Commercial in 2021.

Update of 2023 Production and Sales Strategy Outlook

The Company is in the process of reviewing its short-term mine model to incorporate on-going infill drilling at the Campbell Pit. Based on results to date and expected future results, the Company has adjusted its annual 2023 production, sales and cash cost guidance.

Revised 2023 Production, Sales and Cost Guidance

Tonnes V2O5	Q2		Q3		Q4		2023
	Low	High	Low	High	Low	High	Low	High
Production	2,200	2,400	2,400	3,300	2,400	3,300	9,000	11,000
Sales1	1,900	2,300	2,000	2,600	2,200	3,300	8,700	10,700
The revised annual 2023 sales guidance does not include purchased material.

Cash Operating Cost Excluding Royalties ($/lb sold)1

$4.85 – 5.65

Q1 2023 Webcast and Conference Call Information

To join the conference call without operator assistance, you may register and enter your phone number at cts.businesswire.com to receive an instant automated call back.

You can also dial direct to be entered to the call by an Operator via dial-in details below.

Conference Call Details
Date:	Thursday, May 11, 2023
Time:	1:00 p.m. ET
Dial-in Number:	Local: +1 (416) 764-8650
Dial-in Number:	North American Toll Free: +1 (888) 664-6383
Conference ID:	09350530
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Replay Number:	Local / International: + 1 (416) 764-8677
	North American Toll Free: +1 (888) 390-0541
	Replay Passcode: 350530#
Website:	To view press releases or any additional financial information, please visit the Investor Resources section of the Company’s website at: www.largoinc.com/English/investor-resources

A playback recording will be available on the Company's website for a period of 60-days following the conference call.

The information provided within this release should be read in conjunction with Largo's unaudited condensed interim financial statements for the three months ended March 31, 2023 and 2022 and its management's discussion and analysis for the three months ended March 31, 2023 which are available on our website at www.largoinc.com or on the Company’s respective profiles at www.sedar.com and www.sec.gov.

About Largo

Largo has a long and successful history as one of the world’s preferred vanadium companies through the supply of its VPURETM and VPURE+TM products, which are sourced from one of the world's highest-grade vanadium deposits at the Company's Maracás Menchen Mine in Brazil. Aiming to enhance value creation at Largo, the Company is in the process of implementing an ilmenite concentration plant using feedstock sourced from its existing operations in addition to advancing its U.S.-based clean energy division with its VCHARGE vanadium batteries. Largo’s VCHARGE vanadium batteries contain a variety of innovations, enabling an efficient, safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year lifespan. Producing some of the world’s highest quality vanadium, Largo’s strategic business plan is based on two pillars: 1.) leading vanadium supplier with an outlined growth plan and 2.) U.S.-based energy storage business support a low carbon future.

Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol "LGO". For more information, please visit www.largoinc.com.

Cautionary Statement Regarding Forward-looking Information:

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information in this press release includes, but is not limited to, statements with respect to the timing and amount of estimated future production and sales; the future price of commodities; costs of future activities and operations, including, without limitation, the effect of inflation and exchange rates; the effect of unforeseen equipment maintenance or repairs on production; timing of ilmenite production; the ability to produce high purity V2O5 and V2O3 according to customer specifications; the extent of capital and operating expenditures; the ability of the Company to make improvements on its current short-term mine plan; the impact of global delays and related price increases on the Company’s global supply chain and future sales of vanadium products. Forward-looking information in this press release also includes, but is not limited to, statements with respect to our ability to build, finance and successfully operate a VRFB business, the projected timing and cost of the completion of the EGPE project; our ability to protect and develop our technology, our ability to maintain our IP, the competitiveness of our product in an evolving market, our ability to market, sell and deliver our VCHARGE batteries on specification and at a competitive price, our ability to successfully deploy our VCHARGE batteries in foreign jurisdictions; our ability to negotiate and enter into a joint venture with Ansaldo Green Tech on terms satisfactory to the Company and the success of such joint venture; the receipt of necessary governmental permits and approvals on a timely basis, our ability to secure the required resources to build and deploy our VCHARGE batteries, and the adoption of VRFB technology generally in the market.

The following are some of the assumptions upon which forward-looking information is based: that general business and economic conditions will not change in a material adverse manner; demand for, and stable or improving price of V2O5 and other vanadium commodities; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other material disruption in the Company’s operations at the Maracás Menchen Mine or relating to Largo Clean Energy, specially in respect of the installation and commissioning of the EGPE project; the availability of financing for operations and development; the availability of funding for future capital expenditures; the ability to replace current funding on terms satisfactory to the Company; the ability to mitigate the impact of heavy rainfall; the Company’s ability to procure equipment, services and operating supplies in sufficient quantities and on a timely basis; that the estimates of the resources and reserves at the Maracás Menchen Mine are within reasonable bounds of accuracy (including with respect to size, grade and recovery and the operational and price assumptions on which such estimates are based); the accuracy of the Company’s mine plan at the Maracás Menchen Mine, the competitiveness of the Company's VRFB technology; the ability to obtain funding through government grants and awards for the Green Energy sector, the accuracy of cost estimates and assumptions on future variations of VCHARGE battery system design, that the Company’s current plans for ilmenite and VRFBs can be achieved; the Company's "two-pillar" business strategy will be successful; the Company's sales and trading arrangements will not be affected by the evolving sanctions against Russia; and the Company’s ability to attract and retain skilled personnel and directors; the ability of management to execute strategic goals.

Forward-looking statements 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 statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Largo or Largo Clean Energy to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on www.sedar.com and available on www.sec.gov from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo 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. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&As which also apply.

Trademarks are owned by Largo Inc.

Q1 2023 Net Income Reconciliation

		Q1 2023
Total V2O5 equivalent sold	000s lbs		6,281	A
	tonnes1		2,849

Produced V2O5 equivalent sold	000s lbs		5,741	B
	tonnes1		2,604

Revenues per pound sold	$/lb	$	9.14	C
Cash operating costs per pound	$/lb	$	5.58	D
Conversion of tonnes to pounds, 1 tonne = 2,204.62 pounds or lbs.

		Q1 2023
Revenues		$	57,421	A x C 2,849 tonnes of V2O5 equivalent sold (Q1 2022 - 2,232 tonnes), with revenues per pound sold of $9.14 (Q1 2021 - $8.67)
Cash operating costs			(32,017)	B x D Global recovery of 83.0% (Q1 2022 - 77.5%), impact of shutdowns and cost and consumption increases for critical consumables, including HFO, ammonium sulfate and sodium carbonate
Other operating costs
Conversion costs (costs incurred in converting V2O5 to FeV that are recognized on the sale of FeV)	(1,918)			Note 19 568 tonnes of FeV sold
Product acquisition costs (costs incurred in purchasing products from 3rd parties that are recognized on the sale of those products)	(4,178)			Note 19 245 tonnes of V2O5 equivalent of purchased products sold, compared with 79 tonnes in Q1 2022 with a cost of $1,550
Distribution costs	(1,447)			Note 19
Depreciation	(7,251)			Note 19
Increase in legal provisions	(119)			See "other general and administrative expenses" section on page 5 of the Q1 2023 MD&A
Iron ore costs	(273)			Note 19
			(15,186)
Commercial & Corporate costs
Professional, consulting and management fees	(2,133)			Note 15 (Sales & trading plus Corporate)
Other general and administrative expenses	(1,389)
Share-based payments	1,342
			(2,180)
Largo Clean Energy			(6,602)	Note 15 (excluding finance costs and foreign exchange) 2023 guidance between $13,500 and $14,500
Largo Clean Energy			(6,602)
Largo Physical Vanadium			(80)	Note 15 (excluding finance costs and foreign exchange)
Titanium project			(105)	Note 15 - "other"
Foreign exchange loss			417
Finance costs			(1,426)
Interest income			712
Exploration and evaluation costs			(239)

Net income before tax			715

Income tax expense			(333)
Deferred income tax expense			(1,589)

Net income (loss)		$	(1,207)

Non-GAAP Measures

The Company uses certain non-GAAP measures in its press release, which are described in the following section. Non-GAAP financial measures and non-GAAP ratios are not standardized financial measures under IFRS, the Company's GAAP, and might not be comparable to similar financial measures disclosed by other issuers. These measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Revenues Per Pound

The Company’s press release refers to revenues per pound sold, V2O5 revenues per pound of V2O5 sold and FeV revenues per kg of FeV sold, which are non-GAAP financial measures that are used to provide investors with information about a key measure used by management to monitor performance of the Company.

These measures, along with cash operating costs, are considered to be key indicators of the Company’s ability to generate operating earnings and cash flow from its Maracás Menchen Mine and sales activities. These measures differ from measures determined in accordance with IFRS, and are not necessarily indicative of net earnings or cash flow from operating activities as determined under IFRS.

The following table provides a reconciliation of revenues per pound sold, V2O5 revenues per pound of V2O5 sold and FeV revenues per kg of FeV sold to revenues and the revenue information presented in note 18 as per the Q1 2023 unaudited condensed interim consolidated financial statements.

		Three months ended
		March 31, 2023	March 31, 2022
Revenues - V2O5 producedi	$	34,526	21,814
V2O5 sold - produced (000s lb)		3,798	2,694
V2O5 revenues per pound of V2O5 sold - produced ($/lb)	$	9.09	8.10

Revenues - V2O5 purchasedi	$	2,528	386
V2O5 sold - purchased (000s lb)		309	44
V2O5 revenues per pound of V2O5 sold - purchased ($/lb)	$	8.18	8.77

Revenues - V2O5i	$	37,054	22,200
V2O5 sold (000s lb)		4,107	2,738
V2O5 revenues per pound of V2O5 sold ($/lb)	$	9.02	8.11

Revenues - V2O3 producedi	$	1,483	-
V2O3 sold - produced (000s lb)		134	-
V2O3 revenues per pound of V2O3 sold - produced ($/lb)	$	11.07	-

Revenues - V2O3 purchasedi	$	1,155	-
V2O3 sold - purchased (000s lb)		88	-
V2O3 revenues per pound of V2O3 sold – purchased ($/lb)	$	13.13	-

Revenues - V2O3i	$	2,637	-
V2O3 sold - purchased (000s lb)		223	-
V2O3 revenues per pound of V2O3 sold ($/lb)	$	11.83	-

Revenues - FeV producedi	$	17,428	19,028
FeV sold - produced (000s kg)		568	632
FeV revenues per kg of FeV sold - produced ($/lb)	$	30.68	30.11

Revenues - FeV purchasedi	$	301	1,460
FeV sold - purchased (000s kg)		10	40
FeV revenues per kg of FeV sold - purchased ($/lb)	$	30.10	36.50

Revenues – FeVi	$	17,730	20,488
FeV sold (000s kg)		578	672
FeV revenues per kg of FeV sold ($/lb)	$	30.67	30.49

Revenuesi	$	57,421	42,688
V2O5 equivalent sold (000s lb)		6,281	4,921
Revenues per pound sold ($/lb)	$	9.14	8.67
As per note 18 in the Company’s Q1 2023 unaudited condensed interim consolidated financial statements.

Cash Operating Costs and Cash Operating Costs Excluding Royalties

The Company’s press release refers to cash operating costs per pound and cash operating costs excluding royalties per pound, which are non-GAAP ratios based on cash operating costs and cash operating costs excluding royalties, which are non-GAAP financial measures, in order to provide investors with information about a key measure used by management to monitor performance. This information is used to assess how well the Maracás Menchen Mine is performing compared to plan and prior periods, and also to assess its overall effectiveness and efficiency.

Cash operating costs includes mine site operating costs such as mining costs, plant and maintenance costs, sustainability costs, mine and plant administration costs, royalties and sales, general and administrative costs (all for the Mine properties segment), but excludes depreciation and amortization, share-based payments, foreign exchange gains or losses, commissions, reclamation, capital expenditures and exploration and evaluation costs. Operating costs not attributable to the Mine properties segment are also excluded, including conversion costs, product acquisition costs, distribution costs and inventory write-downs.

Cash operating costs excluding royalties is calculated as cash operating costs less royalties.

Cash operating costs per pound and cash operating costs excluding royalties per pound are obtained by dividing cash operating costs and cash operating costs excluding royalties, respectively, by the pounds of vanadium equivalent sold that were produced by the Maracás Menchen Mine.

Cash operating costs, cash operating costs excluding royalties, cash operating costs per pound and cash operating costs excluding royalties per pound, along with revenues, are considered to be key indicators of the Company’s ability to generate operating earnings and cash flow from its Maracás Menchen Mine. These measures differ from measures determined in accordance with IFRS, and are not necessarily indicative of net earnings or cash flow from operating activities as determined under IFRS.

The following table provides a reconciliation of cash operating costs and cash operating costs excluding royalties, cash operating costs per pound and cash operating costs excluding royalties per pound for the Maracás Menchen Mine to operating costs as per the Q1 2023 unaudited condensed interim consolidated financial statements.

	Three months ended
	March 31, 2022		March 31, 2022
Operating costsi	$	45,931	$	28,958
Professional, consulting and management feesii		844		1,036
Other general and administrative expensesiii		309		267
Add: insurance proceedsi		—		—
Less: iron ore costsi		(273)		(215)
Less: conversion costsi		(1,918)		(1,847)
Less: product acquisition costsi		(4,178)		(1,550)
Less: inventory write-downi		(1,447)		(1,455)
Less: depreciation and amortization expensei		(7,251)		(4,305)
Cash operating costs		32,017		20,889
Less: royaltiesi		(2,445)		(2,026)
Cash operating costs excluding royalties		29,572		18,863
Produced V2O5 sold (000s lb)		5,741		4,747
Cash operating costs per pound ($/lb)	$	5,58	$	4.40
Cash operating costs excluding royalties per pound ($/lb)	$	5.15	$	3.97
As per note 19 in the Company’s Q1 2023 unaudited condensed interim consolidated financial statements. As per the Mine properties segment in note 15 in the Company’s Q1 2023 unaudited condensed interim consolidated financial statements. As per the Mine properties segment in note 15 less the increase in legal provisions of $0.1 million (Q1 2023) as noted in the "other general and administrative expenses" on page 5 of the Company’s Q1 2023 management’s discussion and analysis.

________________________________________
1 Revenues per pound sold and cash operating costs are non-GAAP financial measures, and cash operating costs per pound and cash operating costs excluding royalties per pound are non-GAAP ratios with no standard meaning under IFRS, and may not be comparable to similar financial measures disclosed by other issuers. Refer to the "Non-GAAP Measures" section of this press release.
2 Defined as current assets less current liabilities per the consolidated statements of financial position.
3 Conversion of tonnes to pounds, 1 tonne = 2,204.62 pounds or lbs.
4 Fastmarkets Metal Bulletin.
5 Effective grade represents the percentage of magnetic material mined multiplied by the percentage of V2O5 in the magnetic concentrate.
6 Global recovery is the product of crushing recovery, milling recovery, kiln recovery, leaching recovery and chemical plant recovery.

View source version on businesswire.com: businesswire.com

Contacts

For further information, please contact:

Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778
aguthrie@largoinc.com

RecommendKeepReply Mark as Last Read Read Replies (1)

To: LoneClone who wrote (21077)	5/29/2023 2:29:41 PM
From: LoneClone	of 23643

CANADA CARBON FILES APPLICATION WITH THE CPTAQ TO DEVELOP ITS MILLER GRAPHITE MINE ca.finance.yahoo.com Canada Carbon Inc. Wed, May 24, 2023 at 2:01 p.m. PDT·4 min read Toronto, ON, Canada, May 24, 2023 (GLOBE NEWSWIRE) -- Canada Carbon (the "Company") is proud to announce the opening of a new file with the Commission de Protection du Territoire Agricole du Québec ("CTPAQ") for its Miller Graphite Project (“Miller”), located in the municipality of Grenville-sur-la-Rouge ("GSLR"). The Company received CPTAQ confirmation that the application has been received and assigned filed number 441303. The review by CPTAQ is the first step in the Company’s licensing and permitting efforts on Miller. Canada Carbon has consistently adopted a wholistic, responsive approach to the development of the Miller project. After concerns were expressed by the local community, Canada Carbon made the decision to defer the quarry component of the project and focus its efforts on the development of the graphite mine. This decision reflects Canada Carbon’s dedication to actively listen to and address the expressed concerns of residents. It highlights the Company’s commitment to meaningful consultation and community engagement. Canada Carbon is confident that the Miller project will meet the highest standards of compliance, assiduously protect the environment, and contribute positively to the economy of the entire region. In addition, Canada Carbon would like to highlight the commitments made by the parties in the agreement reached in February 2020. According to the agreement, signed pursuant to legal action initiated by Canada Carbon, GSLR officially recognized that graphite is a mineral substance in accordance with article 246 of the Act respecting land use planning and development. Consequently, no provision of the Schéma d'aménagement de la MRC d'Argenteuil, the urban plan, the zoning bylaw or any other GSLR interim control, subdivision or construction bylaw is applicable to or in opposition to the Miller project. It should be noted that this agreement is a legally binding contract under Article 2631 of the Civil Code of Quebec and has been officially homologated by the Superior Court of Quebec. As a result, GSLR is obligated to adhere to and uphold the terms and obligations outlined within the agreement. This recognition reinforces Canada Carbon's confidence in the validity of its project and urges GSLR to respect the commitments it has already made. Canada Carbon has worked very hard, with a highly qualified team of professionals from multiple disciplines, to ensure that all legal and regulatory requirements are met. At this point in time, the Company believes that it deserves a fair hearing from the CPTAQ, during which the merits of the project and any potential agricultural impacts can be objectively evaluated. All aspects of the project have been thoroughly analyzed according to the criteria outlined in Article 62 of the Loi sur la Protection du Territoire et des Activités Agricoles (LPTAA), which the CPTAQ uses to assess the merits of any application. Special attention has been given to the most critical aspect concerning agricultural potential, specifically the impact on the forest and any maple production capacity. Recognizing the temporary impact the project may have on the forest, Canada Carbon has implemented a comprehensive zero net loss restoration plan specifically designed to restore and maintain the maple production potential. As part of this plan, for every maple tree that is cut down, a new one will be replanted. Additionally, maple-forest management practices will be implemented in the untouched areas of the forest starting from year 1 of the project. This approach ensures that the maple syrup potential will be even better than if the forest had been left untouched. Remnants of the previous mining activities at the Miller mine can still be seen, and Canada Carbons’ restoration plan addresses this shortcoming in its entirety. The Company has developed a comprehensive program that focuses on recovering topsoil and composting stumps. This approach allows the Company to retain a significant amount of organic carbon in the soil, which is vital for the successful re-establishment of vegetation during the restoration process. It is important to note that Canada Carbon is also actively pursuing the development of its Asbury Graphite Project, located in the municipality of Notre-Dame-du-Laus. The Company is poised to complete an NI 43-101 compliant resource statement on the project and has fostered a robust partnership with the municipality to ensure the successful execution of the project. The Company’s relationship with Notre-Dame-du-Laus is illustrative of the model with which it intends to support the economic growth and improvement of host communities, while contributing to the government's energy transition objectives. About Canada Carbon Inc. Canada Carbon Inc. is a mining exploration and development company focused on the acquisition, exploration and development of graphite deposits. The Company holds a 100% interest in two strategic, past-producing graphite properties located in Quebec: the Miller Graphite Project located in Grenville-Sur-La-Rouge and the Asbury Graphite Mine located in Notre-Dame-du-Laus. Canada Carbon is committed to realizing its potential as a high-quality graphite producer while maintaining the highest standards of social and environmental responsibility. For more information on Canada Carbon's mining activities, please visit our website at www.canadacarbon.com. CANADA CARBON INC. “Ellerton Castor” Chief Executive Officer and Director Contact Information E-mail inquiries: info@canadacarbon.com P: (905) 407-1212

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To: LoneClone who wrote (21078)	5/30/2023 12:44:32 PM
From: LoneClone	of 23643

Surge Battery Metals Contracts Geophysical Surveys at the Nevada North Lithium Project accesswire.com Tuesday, May 23, 2023 7:30 AM Surge Battery Metals Inc. surgebatterymetals.com WEST VANCOUVER, BC / ACCESSWIRE / May 23, 2023 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to announce signing a contract with BGC Engineering of Calgary, Alberta, to further delineate the potential resource at the Nevada North Lithium Project (NNLP). BGC Engineering (BGC) is an international consulting firm that provides professional services in applied earth sciences. Surge Battery Metals has been conducting exploration activities at the NNLP with promising results. The Company is moving to further delineate the lithium clays using geophysics to better understand the resource. BGC has been retained to perform the following scope of work this week: Towed Transient Electromagnetic (tTEM) survey. tTEM is a mobile ground-based transient system used for rapidly mapping subsurface electrical conductivities over large areas. BGC, on behalf of Surge, will use this method in road accessible areas of the NNLP to collect as much as 40 line-kms of data. Electrical Resistivity Tomography (ERT) surveys. ERT is a geoelectric technique which can be used to profile subsurface resistivity. This will allow Surge to target, with upcoming drilling, the thickness of the primary lithium-enriched clay, and the additional deeper clay-altered tuff layers identified in the 2022 drilling campaign. With this data, Surge will refine and expand the potential mineralization footprint for targeting the upcoming drill program core holes. Mr. Greg Reimer, Chief Executive Officer, and Director commented "Spring has arrived in northern Nevada and our team is excited to start the exploration season following our lithium discovery. This week's geophysical surveying campaign will provide indications of both the lateral and vertical dimensions of the lithium-bearing clay horizons identified from our previous surface sampling and 2022 drill campaign. Our team will use this data to target locations for the 2023 campaigns in order to advance to a maiden resource, which we anticipate reporting on later this year. I am personally thrilled with the speed and efficiency at which we have advanced this discovery, and I look forward to reporting our ongoing results." Qualified Person as Defined Under National Instrument 43-101 Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under Nation Instrument 43-101, has reviewed and approved the technical aspects of this news release. About Surge Battery Metals Inc. The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada and for nickel in British Columbia. Our primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market. About the Nevada North Lithium Project The Company owns a 100% interest, without any royalties, in the Nevada North Lithium Project, consisting of 243 mineral claims, located in the Granite Range southeast of Jackpot, about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium-bearing clays occupying a strike length of almost 1,620 meters from drillhole NN2205 in the north to drill hole NN2208 in the south. The full thickness of the mineralized horizons are not well determined since the holes were mostly sited along strike on a north-south alignment. However, the apparent thickness is at least 400 metres, supported by highly anomalous soil values indicating potential for the clay horizons to be much thicker. The potential for a significant lithium deposit are illustrated by the results of drillhole NN2207 which intersected the thickest intervals of lithium-rich claystone encountered to date; a total of 120.4 metres (395 feet) averaging 3,943 ppm lithium in four zones. Additionally, drillhole NN2208 had the strongest downhole individual sample of 5,950 ppm lithium at between 45 and 50 feet (13.72 and 15.24 metres) depth. The average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29,2023) On behalf of the Board of Directors "Greg Reimer" Greg Reimer, President & CEO Contact Information Email: info@surgebatterymetals.com Phone: 778-945-2656 Website: surgebatterymetals.com 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 release. This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause 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. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations. SOURCE: Surge Battery Metals Inc.

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To: LoneClone who wrote (21079)

5/30/2023 12:57:37 PM

From: LoneClone

[Lithium] Brunswick Exploration Intercepts 26.5 Meters Grading 1.51% Li2o in Initial Drill Results From Anatacau West

ca.finance.yahoo.com

Brunswick Exploration
Wed, May 24, 2023 at 3:00 a.m. PDT·6 min read

Figure 1

Plan Map of Drill Holes Completed at Anatacau West
Table 2

2023 Winter Drill Hole Location

MONTREAL, May 24, 2023 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; “BRW” or the “Company”) is pleased to announce that it has received a first set of results from its recently completed drilling campaign at the Anatacau West project, located in the Eeyou Istchee-James Bay region of Quebec. The initial results presented today are from twelve holes with another six pending. Final assays for the remaining holes are expected in the coming weeks.

Drill result highlights

26.5 metres at 1.51% Li2O in drill hole AW-23-01;

9.9 metres at 1.03% Li2O in drill hole AW-23-10;

10.1 metres at 1.06% Li2O, including 4.9 m at 1.63% Li2O and 12.6 metres at 1.12% Li2O in drill hole AW-23-14.

Mr. Killian Charles, President and CEO of BRW, commented: “With the start of our pan-Canadian grassroot lithium exploration campaign, one of the largest lithium exploration initiatives in North America, we are excited to receive assays confirming the presence of high-grade, near-surface and thick lithium-bearing pegmatites from our inaugural drilling campaign at Anatacau West. Our drilling tested the pegmatites to a shallow depth and their remains substantial opportunities for more growth. With minimal regional prospecting for lithium, we look forward to continue expanding the lithium potential both at the Anatacau West and the Anatacau Main project over the coming weeks and months.”

Anatacau West Drilling Campaign Overview

Following drilling completed to date, BRW believes it has intercepted at least two continuous, distinct spodumene-bearing pegmatites. All of the pegmatites are oriented north-northeast, are closely spaced in an on-echelon pattern and dip steeply towards the west. The pegmatites are hosted in metasedimentary rocks in an east-west deformation corridor similar to Allkem’s neighboring James Bay Lithium Deposit.

Drilling has initially focused on near surface mineralization with the pegmatites only being drill tested to a maximum vertical depth of 137 meters. They remain open at depth. Furthermore, potential exists for repetition of new pegmatites further to the south and to the east.

Lithium mineralization consists predominantly of spodumene with minor lepidolite. Spodumene crystals are generally well-formed, decimetric in scale (up to 10cm) and have a white to pale grey color. Importantly, grade is strongly correlated with visually identified spodumene percentage in core allowing BRW to rapidly ascertain the lithium potential of mineralized intercepts in exploration drilling.

Next Steps

Starting next week, our exploration campaign in Quebec will begin with regional, helicopter-supported prospecting at the Anatacau West and Anatacau Main projects from the nearby Wabamisk camp. Already, BRW has identified more spodumene-bearing pegmatites at Anatacau Main, located 22 km east from Anatacau West. These pegmatites have been minimally prospected and will be a priority target. BRW expects to conduct follow-up on stripping and/or drilling on several targets across both projects once it has completed an initial wave of prospecting.

Concurrent to work at Anatacau West and Anatacau Main, BRW will also be operating a camp at the PLEX project to the north and a smaller fly-camp at the Mirage project located further east from PLEX. The Company’s portfolio in the entire Eeyou Istchee-James Bay region includes over 250 untested S-type pegmatites measuring a minimum strike length of 500 meters (for more information on the BRW’s regional prospecting plan for the Eeyou Istchee-James Bay region, see NR dated May 11 2023).

Table 1: Mineralized Intercepts from the Winter 2023 Anatacau West Drilling Campaign

Hole ID	From (m)	To (m)	Interval (m)	Li2O (%)
AW-23-01	8.6	12.8	4.2	0.21
	30.6	57.1	26.5	*1.51*
AW-23-02	29.6	37.2	7.6	*0.69*
AW-23-03	No Significant Interval
AW-23-04	31.2	34	2.8	Assays Pending
AW-23-05	59.7	64.3	4.6	Assays Pending
	93.3	100.9	7.6	Assays Pending
	178.9	197.1	18.2	Assays Pending
AW-23-06	154.5	164.9	10.4	*0.57*
Incl.	156.5	157.5	1.0	*1.29*
and	161.5	164.1	2.6	*1.55*
AW-23-07	No Significant Interval
AW-23-08	31.1	32.1	1.0	0.52
AW-23-09	No Significant Interval
AW-23-10	44.7	47	2.3	*1.09*
	54.2	57.1	2.9	0.45
	63	72.9	9.9	*1.03*
Incl.	66	70	4.0	*1.30*
AW-23-11	170.2	172.5	2.3	0.13
AW-23-12	No Significant Interval - Assays Pending
AW-23-13	No Significant Interval - Assays Pending

Note: All drill holes are NQ core size and all intervals are core length. True width of intervals is not confirmed but estimated to be approximately 70% of true width. Significant intervals are assay values above 0.1% Li2O. Further analysis revealed that mineralization in AW-23-03 was composed of cookeite, a phyllosilicate lithium mineral and not spodumene.

Table 1 (con’t): Mineralized Intercepts from the Winter 2023 Anatacau West Drilling Campaign

Hole ID	From (m)	To (m)	Interval (m)	Li2O (%)
AW-23-14	16.9	17.9	1.0	1.04
	117.2	127.3	10.1	*1.06*
Incl.	121.1	126	4.9	*1.63*
	161.6	174.2	12.6	*1.12*
AW-23-15	No Significant Interval
AW-23-16	43.7	47.2	3.5	*1.07*
Incl.	43.7	45.7	2.0	*1.34*
	148	150	2.0	0.63
Incl.	149	149.4	0.4	1.19
AW-23-17	26	31	5.0	Assays Pending
	35.7	68.1	32.9	Assays Pending
	216.6	221.6	5.0	Assays Pending
	224	226.5	2.6	Assays Pending
AW-23-18	9	28.4	19.6	Assays Pending
	163.3	166.8	3.5	Assays Pending

Figure 1: Plan Map of Drill Holes Completed at Anatacau West

Table 2: 2023 Winter Drill Hole Location

Table 2: 2023 Winter Drill Hole Location

Quality Assurance / Quality Control

BRW adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses. Drill core samples from the Company’s projects are securely transported to a core facility on site, where they are logged and sampled over 0.5 to 1.0 meter intervals. Samples selected for assay include insertion of quartz blanks and certified reference materials into sample batches at a rate of approximately 10 per cent. Samples are shipped to ALS Canada Ltd.’s preparation facility in Val-d’Or. Pulps are analyzed at the ALS Canada Ltd. facility in Vancouver. All samples are analyzed by sodium peroxide fusion with ICP-AES/MS finish. Reported drill intersections use a lower analytical cut off value of 0.1% Li2O.

Qualified Person

The scientific and technical information contained in this press release in regards to Quebec has been reviewed and approved by Mr. Francois Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec.

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 in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing the most extensive grassroots lithium property portfolio in Canada with holdings in Quebec, Ontario, Saskatchewan, Manitoba, New Brunswick and Nova Scotia.

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.

Photos accompanying this announcement are available at
globenewswire.com
https://www.globenewswire.com/Tracker?data=-nfZHaKkWSqMyPKsAPPx9K8YDIhJF45zCZ-Iv2rDeQ72eMwgLOMy1i9qPYocXepkifMl2MBpjR3frGpv_GSamvovoVaZHSEp8hqodmgARfOnSHNY8g5osLpFJl2ZVc5l4FGBvGH0fVzNiBtiFM-ol_doWz845BPdYqsAxvKAvHBdgf9sprx5ILpQqmf2z3r61vrROCTteuij7RYPT1fT32BtGJyIv78jmc81agKowv4_b1ahKv7ujXqiSv68fAR0gRIfDOigReTphMPMNUqAKQ==

CONTACT: Investor Relations/information Mr. Killian Charles, President and CEO (info@brwexplo.ca)

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To: LoneClone who wrote (21080)	5/30/2023 1:03:43 PM
From: LoneClone	of 23643

[Titanium] First Phosphate Provides Full Corporate Update S newsfilecorp.com aguenay, Quebec--(Newsfile Corp. - May 30, 2023) - First Phosphate Corp. (CSE: PHOS) (FSE: KD0) ("First Phosphate" or the "Company") is making significant strides towards becoming a North American leader in the lithium iron phosphate ("LFP") battery sector and establishing the Saguenay-Lac-St-Jean region of Quebec, Canada as the LFP Battery Valley of North America. The Company will be hosting a live event on Tuesday, May 30th, 2023 at 12:00 noon EST to discuss this update in greater detail and to answer questions from shareholders. Please register at: api.newsfilecorp.com The event will be carried out by our CEO, John Passalacqua. Our President, Peter Kent, has provided this brief pre-recorded summary address to shareholders who might not be able to attend the live event: api.newsfilecorp.com The Company Achieved the Following in 2023: Started the year by listing its shares on the Canadian Securities Exchange ("CSE") and the Frankfurt Stock Exchange ("FSE"), providing its shareholders with global visibility and liquidity. Our President, Peter Kent, gave a keynote speech for the CSE opening session at the PDAC Convention in Toronto. Signed a Memorandum of Understanding ("MOU") with Prayon SA ("Prayon"), the Belgian-based global leader in purified phosphoric acid ("PPA") production and technology. This partnership promises to accelerate our operations by providing future offtake for our phosphate concentrate, access to PPA technology and LFP cathode active material ("LFP Cam") production horizons: api.newsfilecorp.com Initiated a Preliminary Economic Assessment ("PEA") at our Lac-à-l'Orignal property following completion of a successful National Instrument 43-101 study: api.newsfilecorp.com Achieved a world-leading high-purity phosphate concentrate of 40.2% at a 91.4% recovery rate through metallurgical testwork at the laboratories of SGS Canada Inc., Quebec ("SGS Quebec"). Achieved strong LFP-related secondary recoveries of ilmenite (titanium) and magnetite (iron): api.newsfilecorp.com Completed an in-depth mineralogical study with Queen's University which concluded that the Lac-à-l'Orignal deposit is a likely ESG-compliant source of North American phosphate for the LFP battery industry. Phosphate mines are not known to be ESG driven. Lac-à-l'Orignal could potentially be one of the first: api.newsfilecorp.com Yielded high-grade phosphate intersects along a 2,000 m magnetic trend with multiple phosphate-bearing layers during drilling operations at the Begin-Lamarche project. These are some of the highest phosphate grades ever found in the Saguenay-Lac-St-Jean Region of Quebec, Canada. This property is only 75 km from the deep-sea Port of Saguenay and is located next to extensive existing infrastructure. Begin-Lamarche is now a second phosphate property of key development focus for the Company: api.newsfilecorp.com Secured a licensing agreement with Integrals Power Limited ("IPL") of the United Kingdom which will allow for the manufacture of LFP Cam at any Company facilities in North America. IPL will also validate and homologate First Phosphate produced PPA and iron sulphate in its LFP Cam production process: api.newsfilecorp.com Forged a strategic partnership with the Regional Conference of the Prefects of Saguenay-Lac-Saint-Jean ("CRP") and the Regional Economic Impact Maximization Committee ("CMAX"). This agreement provides the Company with deemed major project status in the Saguenay-Lac-Saint-Jean Region of Quebec and access to full local and regional private and government-related industrial competencies: api.newsfilecorp.com Presented a keynote speech by our CEO, John Passalacqua, on the future of phosphate and the LFP battery opportunity to the global phosphate industry at the CRU Global Phosphates 2023 Conference in Istanbul, Turkey: api.newsfilecorp.com Completed an oversubscribed private placement of $2,339,152 of which management and board participation totaled $456,380: api.newsfilecorp.com Milestones for the Remainder of 2023: Complete the Preliminary Economic Assessment ("PEA") at Lac-à-l'Orignal to have the ability to advance the property directly to feasibility study in 2024. Release final results from our winter 2022 drill program at Bégin-Lamarche and then continue a summer drill program to reach a National Instrument 43-101 readiness in 2024. Commence a prospection and geological reconnaissance program on our bluesky properties at Alex, Brochet, Larouche and Perron where strong phosphate indications have been found. Work with SGS Quebec to demonstrate pilot scale separation of apatite from ilmenite and magnetite to create three distinct and marketable recoveries. Work with Prayon to launch pilot scale production of battery grade PPA based on phosphate concentrate originating from First Phosphate mineral properties to meet client sample requests for locally produced North American PPA. Investigate the creation of LFP raw material inputs such as iron sulphate and iron powder (from our secondary recoveries of ilmenite and magnetite) to meet client sample inquiries. Enhance output of secondary recoveries of ilmenite (titanium) and magnetite (iron) to boost the economic potential of our Lac-à-l'Orignal mineral resource. Continue advocacy for the development of the Saguenay-Lac-St-Jean Region of Québec into the LFP Battery Valley of North America, expanding on our CEO's November 2023 address to the Federation of Chambers of Commerce of Saguenay-Lac-Saint-Jean: api.newsfilecorp.com Carry forward with advocacy for the inclusion of phosphate to the critical minerals lists of Quebec, of Canada and of the United States. Build upon the fact that phosphate already figures on the Ontario and European Union's list of critical minerals. Current Strategic Focus: The Company remains focused on building shareholder value in the upstream through the development of our mineral assets into producing phosphate mines that extract and concentrate phosphate-bearing igneous rock apatite. The anticipated primary recovery will be a >40% pure phosphate concentrate ideal for the creation of large quantities of ESG-compliant PPA for the LFP battery industry. The Company's secondary recoveries of ilmenite (~39% TiO2) and magnetite (~68% Fe) will greatly reduce costs of production of the phosphate concentrate. We are further investigating the potential to upgrade these secondary recoveries into iron sulphate and iron powder: these are equally valuable material inputs in the LFP Cam production process which have a scarcity factor in North America. In the midstream, the Company intends to work with world-class partners to produce PPA and LFP Cam. Prayon and IPL are the first of such midstream partners. The Company is open to expanding into other complimentary and value-added relationships in the midstream. The ultimate downstream clients for LFP Cam will be the LFP battery cell and battery pack producers as well as the OEM manufacturers of electric vehicles, small/large energy storage units and other electrical devices. The Company intends to deploy a prudent partnership-based approach to transition from mine right to the production of LFP Cam, working with the best in class of partners worldwide. Core Competitive Advantage: The Company's phosphate mining assets cover an entire district of 1,500 km2 in the Saguenay-Lac-St-Jean Region of Quebec where 1% of the world's rarest and purest igneous anorthosite phosphate rock can be found. The Company holds over 15 areas of very strong phosphate showings that range from exploration sites all the way to PEA development assets. Deploying proven, world-class phosphate processing technology from our partner, Prayon, the Company estimates that approximately 90% of phosphate concentrate production will be capable of being processed into ESG-compliant PPA for the production of LFP Cam for LFP batteries. Other sedimentary phosphate mines in North America have depleting phosphate stock and can convert only a much lower percentage of their phosphate rock into PPA at economical scale. The Company's smaller, lower capex, ESG-driven igneous rock phosphate mines of the future should produce large volumes of high value-added PPA for the LFP battery industry. They should have a mine footprint of 8-10 times less than that of a traditional sedimentary rock phosphate mine. This will allow to locate closer to existing infrastructure and local workforce and to reduce carbon footprint, all of which will decrease variable production costs and provide for strong ESG gains. Given the high purity, low sulphur and trace element contents found in our igneous phosphate rock, the Company is able to create a full circular-economy plan around its mines and processing facilities. Radioactive gypsum slag piles will not be produced at our mines as is the case with most other sedimentary phosphate mines currently in production around the world. The Company is able to create new mines of the future fully dedicated to the LFP battery industry which will bring new, ESG-compliant phosphate production into the market without posing competitive threat to the food or fertilizer industry. Moreover, our phosphate mines will have limited or no relation to the food or fertilizer industries. In conclusion, the Company is able to focus specifically on producing technological grade phosphate material for the LFP battery industry and to focus on the downstream technology client in the electric vehicle manufacturing and large-scale energy storage businesses. Partnerships Update: Port of Saguenay: Initial investigations have been conducted into possible site location of future Company operations at the port, including evaluation of an existing heated building area for an eventual LFP Cam pilot plant. The recent $105.5 million budgetary allocation by Quebec government to upgrading infrastructure at the port is encouraging. Further, we support the port's new initiative to market itself as the next battery hub of Quebec after Bécancour. This will attract other potential battery industry partners to locate next to eventual First Phosphate facilities and to create a vital battery ecosystem at the port: api.newsfilecorp.com Prayon SA: The Company holds weekly meetings with Prayon executive. The parties are cautiously evaluating opportunities before them for the development of the major areas mentioned in our initial MOU: offtake of phosphate concentrate; PPA technology partnership; LFP Cam production partnership. The Company is in the process of preparing a 1,000 kg sample of phosphate concentrate which will be sent to Prayon for processing into PPA to meet client sample requests: api.newsfilecorp.com Integrals Power Limited (IPL): IPL completed a financing in March 2023 and has since relocated to a new larger facility to begin the buildout of its pilot plant. Upon completion, First Phosphate will be supplying samples of its PPA and iron sulphate to be used in the IPL input materials homologation process. IPL is expected to produce LFP Cam and test LFP battery cells using the First Phosphate input materials during 2024: api.newsfilecorp.com Queen's University: The first study initiated under the partnership with the Pufahl Research Group concluded that the "Low concentrations of deleterious trace elements and sulfide minerals make the Lac-à-l'Orignal deposit an attractive and highly probable ESG-compliant source of North American phosphate for the LFP battery industry." The Company is considering whether to extend similar mineralogical studies to its developing "Bégin-Lamarche" property: api.newsfilecorp.com Saguenay Le Fjord Chamber of Commerce: As members of the chamber of commerce, we applaud the initiative of the Chamber, Promotion Saguenay and Port Saguenay to travel to Skellefteå, Sweden to explore how a similar legacy industrial Nordic region of the world has emerged as an important battery production valley. The Company was asked to provide input into the idea of developing the Saguenay-Lac-St-Jean region of Québec into the LFP Battery Valley of North America during its November 2023 address to the Federation of Chambers of Commerce of Saguenay-Lac-Saint-Jean; api.newsfilecorp.com Emerging Partnerships: Our partnership strategy is constantly evolving. We have numerous non-disclosure agreements ("NDA's") in place with entities in the following industries: mining, phosphates, LFP production technology, electric vehicle ("EV") manufacturing and large-scale energy storage. The Company wishes to work with the best-of-class partners globally and proceeds cautiously with all evolving partnership discussions. The Company will update shareholders as relationships become fully mature. Upcoming Conference Participation: First Phosphate continues to be invited to be an active participant in industry events. Our CEO will address audiences at the following events: Benchmark Battery Gigafactories USA 2023 (Washington DC, USA) (June 8-9, 2023) api.newsfilecorp.com Critical Minerals Industry Summit II (Toronto, Canada) (June 14-15) api.newsfilecorp.com Mining Investment Event of the North (Quebec City, Canada) (June 19-21) api.newsfilecorp.com Qualified Person The scientific and technical disclosure for First Phosphate included in this news release has been reviewed and approved by Gilles Laverdière, P.Geo. Mr. Laverdière is Chief Geologist for the Company and a Qualified Person under National Instrument 43-101 - Standards of Disclosure of Mineral Projects ("NI 43-101"). About First Phosphate Corp First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate ("LFP") battery industry. First Phosphate is committed to producing at high purity level, at full ESG standard and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements. For additional information, please contact: Peter Kent, President peter@firstphosphate.com Tel: +1 (647) 707-1943 Investor Relations: investor@firstphosphate.com Media Relations: media@firstphosphate.com Website: www.FirstPhosphate.com Follow First Phosphate: Twitter: api.newsfilecorp.com LinkedIn: api.newsfilecorp.com -30- Forward-Looking Information and Cautionary Statements Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the Company's commitment to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company's plans to integrate directly into the functions of certain major North American LFP Battery producers; the Company's proposed development of its land claims in the region of Saguenay-Lac-St-Jean, Quebec; the Company's hosting of a live event for the stated purposes and under the stated timelines; the Lac-à-l'Orignal deposit potentially being one of the first ESG-Complaint source of North American phosphates for the LFP battery industry; the Company's partnerships and the stated goals thereof, including the partnerships of IPL, Prayon, Queen's University, SGS Quebec, CRP, and CMAX; the Company's anticipated achievement of its milestones for the remainder of 2023 as stated herein under the heading Milestones for the Remainder of 2023; the Company's development of its mineral assets in the Saguenay-Lac-St-Jean region of Quebec, the anticipated primary phosphate recovery rates and secondary recovery rates of ancillary minerals; the Company's intention to produce PPA and LFP CAM; the Company's partnership-based approach to transition from mine all the way to the production of LFP cathode active material; the Company's anticipated ability to locate closer to existing infrastructure and local workforce and to reduce carbon footprint to decrease variable production costs and provide for strong environmental and social gain; the Company anticipated ability to create a full circular-economy plan around its mines and processing facilities; the Company's anticipated ability to create new mines of the future fully dedicated to the LFP battery industry which will bring new, ESG-compliant phosphate production into the market without posing competitive threat to the food or fertilizer industry and its phosphate mines having limited or no relation to the food or fertilizer industries; the benefits associated with the Port of Saguenay's new initiative to market itself as the next battery hub of Quebec after Bécancour; the Company's anticipation of sending a 1,000 kg sample of phosphate concentrate to Prayon for processing; the Company's plans to supply samples of its PPA and iron sulphate to be used in the IPL input materials homologation process; the Company's plans to consider whether to extend similar mineralogical studies to its developing Bégin-Lamarche property; the Company's plans to participate in conferences for the stated goals and timelines herein under the heading Upcoming Conference Participation. Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company's ability to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company's ability to integrate directly into the functions of certain major North American LFP Battery producers; the Company's ability to develop its land claims in the region of Saguenay-Lac-St-Jean, Quebec; the Company's ability to host a live event for the stated purposes and under the stated timelines; the Company's ability to develop its Lac-à-l'Orignal deposit into one of the first ESG-Complaint source of North American phosphates for the LFP battery industry; the Company's ability to realize on its partnerships and the stated goals thereof, including the partnerships of IPL, Prayon, Queen's University, SGS Quebec, CRP, and CMAX; the Company's ability to realize on its milestones for the remainder of 2023 as stated herein under the heading Milestones for the Remainder of 2023; the Company's ability to develop its mineral assets in the Saguenay-Lac-St-Jean region of Quebec, the Company's ability to realize its primary phosphate recovery rates and secondary recovery rates of ancillary minerals as stated; the Company's ability to realize its intention to produce PPA and LFP CAM; the Company's ability to realize on its partnership-based approach to transition from mine all the way to the production of LFP cathode active material; the Company's ability to locate closer to existing infrastructure and local workforce and to reduce carbon footprint to decrease variable production costs and provide for strong environmental and social gain; the Company ability to create a full circular-economy plan around its mines and processing facilities; the Company's inability to create new mines of the future fully dedicated to the LFP battery industry which will bring new, ESG-compliant phosphate production into the market without posing competitive threat to the food or fertilizer industry and its phosphate mines having limited or no relation to the food or fertilizer industries; the Company's ability to realize upon the benefits associated with the Port of Saguenay's new initiative to market itself as the next battery hub of Quebec after Bécancour; the Company's ability to process and send a 1,000 kg sample of phosphate concentrate to Prayon for processing; the Company's ability to realize upon its plans to supply samples of its PPA and iron sulphate to be used in the IPL input materials homologation process; the Company's ability to extend similar mineralogical studies to its developing Bégin-Lamarche property; the Company's ability to realize its plans to participate in conferences for the stated goals and timelines herein under the heading Upcoming Conference Participation. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's inability to produce high purity phosphate materials at full ESG standard under a low carbon footprint; the Company's inability to integrate directly into the functions of certain major North American LFP Battery producers; the Company's inability to develop its land claims in the region of Saguenay-Lac-St-Jean, Quebec; the Company's inability to host a live event for the stated purposes and under the stated timelines; the Company's inability to develop its Lac-à-l'Orignal deposit into one of the first ESG-Complaint source of North American phosphates for the LFP battery industry; the Company's inability to realize on its partnerships and the stated goals thereof, including the partnerships of IPL, Prayon, Queen's University, SGS Quebec, CRP, and CMAX; the Company's inability to realize on its milestones for the remainder of 2023 as stated herein under the heading Milestones for the Remainder of 2023; the Company's inability to develop its mineral assets in the Saguenay-Lac-St-Jean region of Quebec, the Company's inability to realize its primary phosphate recovery rates and secondary recovery rates of ancillary minerals as stated; the Company's inability to realize its intention to produce PPA and LFP CAM; the Company's inability to realize on its partnership-based approach to transition from mine all the way to the production of LFP cathode active material; the Company's inability to locate closer to existing infrastructure and local workforce and to reduce carbon footprint to decrease variable production costs and provide for strong environmental and social gain; the Company inability to create a full circular-economy plan around its mines and processing facilities; the Company's inability to create new mines of the future fully dedicated to the LFP battery industry which will bring new, ESG-compliant phosphate production into the market without posing competitive threat to the food or fertilizer industry and its phosphate mines having limited or no relation to the food or fertilizer industries; the Company's inability to realize upon the benefits associated with the Port of Saguenay's new initiative to market itself as the next battery hub of Quebec after Bécancour; the Company's inability to process and send a 1,000 kg sample of phosphate concentrate to Prayon for processing; the Company's inability to realize upon its plans to supply samples of its PPA and iron sulphate to be used in the IPL input materials homologation process; the Company's inability to extend similar mineralogical studies to its developing Bégin-Lamarche property; the Company's inability to realize its plans to participate in conferences for the stated goals and timelines herein under the heading Upcoming Conference Participation. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. 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 press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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To: LoneClone who wrote (21081)

5/30/2023 1:11:35 PM

From: LoneClone

Atlas Lithium Expands Anitta Pegmatite Trend to 1.8 Kilometers

newsfilecorp.com

Belo Horizonte, Brazil--(Newsfile Corp. - May 22, 2023) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or the "Company") is pleased to report that on the basis of new exploration data, the Company's geological team has expanded the current size of the Company's Anitta pegmatite trend from 1.1 to 1.8 kilometers in length. Anitta is located within the Neves Project, a cluster of four lithium mineral rights that are part of the Company's 100%-owned Minas Gerais Lithium Project.

The Anitta trend is defined by a northeast to southwest striking zone of pegmatite intrusive bodies hosting localized concentrations of lithium mineralization. Recent geologic mapping and geochemical sampling by the Company's exploration team has extended the overall surface footprint for Anitta over an area measuring approximately 1.8 kilometers long by 400 meters wide. Anitta remains open to further extension laterally, along strike to the southwest, and vertically below surface.

For the purposes of geological exploration and mining planning, Anitta has been divided into two zones: South Anitta and North Anitta. The South Anitta zone covers an approximate 800-meter by 400-meter area that remains open to further extension both along strike to the northeast and southwest and extending below surface with depth. The South Anitta zone is an area in which several drill holes have encountered lithium mineralization at relatively shallow depths, an important factor for planning an open pit mine. Nine core rigs are currently actively conducting resource delineation and step-out exploration drilling to define the overall extent and continuity of lithium mineralization at South Anitta. Mineralization in this area begins at depths as shallow as 5 to 10 meters, extending to more than 150 meters vertically below surface. Of note, recent drill hole DHAB-104 yielded a large aggregate total of 99.1 meters of spodumene; the geochemical assays for DHAB-104 are pending. Photos of spodumene cores from DHAB-104 are attached below in this release.

Drilling core retrieved from DHAB104 located in the South Anitta zone.

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

Drilling core retrieved from DHAB104 located in the South Anitta zone.

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

The North Anitta zone is the initial location where the Anitta pegmatite trend delineation began by the Company's geological team. It comprises a series of northeasterly trending sub-parallel pegmatite dikes with lithium mineralization.

Drilling Campaign Highlights

South Anitta Zone

DHAB-47:	2.80% Li2O over 9.87m from 54.18m to 64.05m
DHAB-68:	1.36% Li2O over 25.43m from 54.15m to 79.58m, which includes:
	2.02% Li2O over 6.5m from 54.15m to 60.15m,
	4.40% Li2O over 0.55m from 60.15m to 60.70m, and
	1.89% Li2O over 5.0m from 71.5m to 76.5m
DHAB-70:	1.16% Li2O over 14.85m from 43.75m to 58.60m
	1.20% Li2O over 2.4m from 78.31m to 80.72m
DHAB-77:	1.08% Li2O over 3.2m from 65.8m to 69.0m
	1.46% Li2O over 14.0m from 70.0m to 84.0m, which includes:
	2.04% Li2O over 5.0m from 70.01m to 75.0m
DHAB-85:	1.18% Li2O over 47.00m from 7.00m to 54.00m, which includes:
	2.12% Li2O over 7.0m from 13.0m to 20.0m and
	1.88% Li2O over 9.0m from 150.0m to 159.0m

North Anitta Zone

DHAB-11B:	1.57% Li2O over 13.1m from 74.0m to 87.1m, which includes:
	2.25% Li2O over 4.0m from 76.7m to 80.8m and
	2.00% Li2O over 3.1m from 84.0m to 87.1m
DHAB-12:	1.35% Li2O over 5.02m from 83.41m to 88.43m
DHAB-15:	1.40% Li2O over 15.0m from 60.5m to 75.5m, which includes:
	1.83% Li2O over 5.0m from 66.5m to 71.5m
DHAB-18:	1.01% Li2O over 9.95m from 82.66m to 92.61m, which includes:
	2.17% Li2O over 3.0m from 86.55m to 89.55m
DHAB-21:	1.33% Li2O over 8.8m from 50.0m to 58.8m
DHAB-39B:	1.00% Li2O over 9.1m from 107.4m to 116.6m
	1.48% Li2O over 9.0m from 119.2m to 128.2m
DHAB-41:	1.09% Li2O over 22.2m from 83.0m to 105.2m, which includes:
	1.72% Li2O over 4.0m from 94.0m to 98.0m
DHAB-44:	1.30% Li2O over 17.9m from 141.81m to 159.71m, which includes:
	1.88% Li2O over 9.0m from 150.0m to 159.0m
DHAB-57:	1.46% Li2O over 13.0m from 92.2m to 105.2m
DHAB-64:	1.08% Li2O over 10.6m from 119.5m to 130.1m
	1.26% Li2O over 11.0m from 132.1m to 143.1m, which includes:
	2.09% Li2O over 5.0m from 135.1m to 140.1m
DHAB-74:	1.01% Li2O over 8.74m from 137.26m to 146.00m

Atlas Lithium's geological team is comprised of 30 individuals, including 13 geologists and 17 field technicians and support personnel. Currently, the Company's exploration campaign has 10 active drills operating and has drilled approximately 20,000 meters; the current drilling campaign pace is between 6,500 to 7,000 meters drilled per month.

Atlas Lithium's exploration campaign is supervised by a Qualified Person for lithium as defined in Subpart 1300 of Regulation S-K ("Regulation S-K 1300") promulgated by the U.S. Securities and Exchange Commission (the "SEC"). As previously disclosed in our quarterly report on Form 10-Q filed with the SEC on May 15, 2023, Atlas Lithium has engaged SGS Canada Inc., and, in particular, their geologist Marc-Antoine Laporte, a Qualified Person for lithium, to produce a mineral resource estimate report for its Neves Project in accordance with Regulation S-K 1300, which report is expected to be completed during the third quarter of 2023.

The Company's drilling and sampling follow strict QA/QC protocols established under best practices. All lithium samples are analyzed at SGS-Geosol, the premier analytical laboratory used by reputable mining companies in Brazil. Normally geochemical results are obtained from SGS-Geosol three weeks after submission of the samples for analysis.

The figure below shows Atlas Lithium's exploration areas for lithium in the state of Minas Gerais, including the Neves Project where Anitta is located.

Figure (above) - Atlas Lithium's exploration areas for lithium in the state of Minas Gerais (data source: Agência Nacional de Mineração, the Brazilian mining department).

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

About Atlas Lithium Corporation
Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium projects which consist of 64 mineral rights spread over approximately 75,040 acres (304 km2) located primarily in the Lithium Valley area of the state of Minas Gerais in Brazil. In total, Atlas Lithium has 100% ownership of mineral rights for almost all battery metals including lithium (304 km2), nickel (222 km2), rare earths (122 km2), titanium (89 km2), and graphite (56 km2), in addition to mining concessions for gold, diamonds, and sand. The Company also owns approximately 45% of Apollo Resources Corp. (private company; iron) and approximately 28% of Jupiter Gold Corp. (OTCQB: JUPGF; gold and quartzite).

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based upon the current plans, estimates and projections of Atlas Lithium Corporation and its subsidiaries (collectively, "Atlas Lithium" or "Company") and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events and regulatory changes; availability of capital; Atlas Lithium's ability to maintain its competitive position; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-Q filed with the SEC on May 15, 2023. Please also refer to the Company's other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:

Michael Kim or Brooks Hamilton

MZ Group - MZ North America

+1 (949) 546-6326

ATLX@mzgroup.us

api.newsfilecorp.com

@Atlas_Lithium

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To: LoneClone who wrote (21082)	5/30/2023 1:45:01 PM
From: LoneClone	of 23643

Atlas Lithium Intersects 1.47% Li2O over 95.2 Meters newsfilecorp.com Belo Horizonte, Brazil--(Newsfile Corp. - May 30, 2023) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or the "Company") is pleased to report the geochemical results summary from drill hole DHAB-104 which holds the record for the longest down-drill lithium mineralization of the Company's current exploration campaign, with 95.2 meters (312 feet) intersect. DHAB-104 is located within the 1.8-kilometer Anitta pegmatite trend in the Company's 100%-owned Neves Project in Brazil's Lithium Valley, a well-known district for hard-rock lithium. The Neves Project covers 2,684 hectares. In total, Atlas Lithium controls 24,233 (242 km2) hectares of mineral rights in Lithium Valley. Volodymyr Myadzel, Ph.D., Sr. VP of Mineral Exploration at Atlas Lithium, commented, "This result is excellent in both the length and the grade of lithium mineralization. We have not previously seen any drill hole with this much mineralized length reported in Lithium Valley." Marc Fogassa, CEO and Chairman of the Company, added, "We continue to be encouraged by the sequence of positive data obtained from Anitta. It is also important to note that Lithium Royalty Corporation's non-dilutive investment of US$20,000,000 in us earlier this month - after a site visit and due diligence on our properties and team - has fully funded our planned drilling campaign." Figure 1 below, exhibits DHAB-104 within Anitta, and in relation to other drill holes, some of which have demonstrated identifiable spodumene, but with geochemical assays still pending. In the bottom right corner of Figure 1, depicted in blue, are the four mineral rights comprising the Neves Project, and in red, the area being drilled, which is a small part of the total size of the cluster. Geological mapping and soil geochemical studies have already identified multiple targets outside of Anitta which will be explored in our drilling campaign. Figure 1 (above) - Locations and highlights of DHAB-104 and other select drill holes within Anitta. To view an enhanced version of this graphic, please visit: images.newsfilecorp.com DHAB-104 Highlights: 1.18% Li2O over 11.2 m from 95.4 m to 106.6 m, which includes 2.26% Li2O over 2.7 m from 97.9 m to 100.6 m and 1.71% Li2O over 3.2 m from 103.4 m to 106.6 m 1.51% Li2O over 84.0 m from 113.8 m to 197.8 m, which includes 2.19% Li2O over 5.1 m from 127.0 m to 132.1 m and 1.95% Li2O over 13.7 m from 137.3 m to 151.0 m and 2.10% Li2O over 14.6 m from 155.0 m to 169.6 m and 2.31% Li2O over 9.1 m from 176.2 m to 185.3 m Figure 2 - Atlas Lithium's exploration areas for lithium in the state of Minas Gerais (data source: Agência Nacional de Mineração, the Brazilian mining department). To view an enhanced version of this graphic, please visit: images.newsfilecorp.com The Company's exploration campaign is supervised by Volodymyr Myadzel, Ph.D., a Qualified Person for lithium as defined in Subpart 1300 of Regulation S-K promulgated by the U.S. Securities and Exchange Commission ("Regulation S-K 1300"). Atlas Lithium has engaged SGS Canada Inc., and, in particular, their geologist Marc-Antoine Laporte, also a Qualified Person for lithium under Regulation S-K 1300, to produce a mineral resource estimate report for its Neves Project in accordance with Regulation S-K 1300. Mr. Laporte is the author of mineral resource reports for Sigma Lithium Corporation. As of now, Atlas Lithium has drilled 25,095 meters of an initial 40,000-meter planned exploration campaign. The Company's resource report is expected to be completed during the third quarter of 2023. Currently, Atlas Lithium has ten drills operating on site, and is drilling between 7,000 to 7,500 meters per month. About Atlas Lithium Corporation Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil's Lithium Valley, a well-known lithium district in the state of Minas Gerais. The Company's exploration mineral rights for lithium cover approximately 308 km2 and are located primarily in Brazil's Lithium Valley. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel (222 km2), rare earths (122 km2), titanium (89 km2), and graphite (56 km2). The Company also owns approximately 45% of Apollo Resources Corp. (private company; iron) and approximately 28% of Jupiter Gold Corp. (OTCQB: JUPGF; gold and quartzite). Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium Corporation and its subsidiaries (collectively, "Atlas Lithium" or "Company") and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events and regulatory changes; availability of capital; Atlas Lithium's ability to maintain its competitive position; and dependence on key management. Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-Q filed with the SEC on May 15, 2023. Please also refer to the Company's other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements. Investor Relations: Michael Kim or Brooks Hamilton MZ Group - MZ North America +1 (949) 546-6326 ATLX@mzgroup.us api.newsfilecorp.com @Atlas_Lithium

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