he Company announces it has finalized and signed the Option Agreement to acquire a large prospective LCT Pegmatite land package (Lithium-Cesium-Tantalum) near Power Metals Case Lake Project. The Company has strategically staked a large package surrounding both the claims provided by the Option Agreement and claims adjacent to the Power Metals Case Lake LCT Lithium project for a total holding of close to 240 square kilometres. The Property and project will be focused on exploring the LCT potential in the area.

Gerhard Kiessling, P.Geo. VP Exploration, commented, “The location, size, and proximity to existing lithium discoveries has our team excited to get started working on this property. With the demand for lithium increasing, we feel that we are in the right place at the right time, and are currently in the process of planning a substantial exploration program for the 2023 field season.”

The claim package is contiguous with Power Metal’s Case Lake Lithium Property to the east, where their West Joe Dyke and Main Dyke areas have identified some significant lithium grades such as 1.86% Li2O (Lithium) over 19.00m in hole PWM-22-135, 1.58 % Li2O over 15.00m in PWM-22-134 (See Power Metals Corp News Release September 8, 2022), and 1.11% Li2O & 2.15% Cs2O (Cesium) over 6.84m in hole PWM-22-128 (See Power Metals Corp News Release August 19, 2022),

The Property acquisition had focused on two important requirements. The first requirement was land that is both proximal to known mineralization (Power Metals Case Lake) and land that contains pegmatites identified at surface from historical bedrock, quaternary, or engineering maps. The second requirement was whether the property contained the contact between Archean sedimentary rock and Archean massive to foliated granodiorite. The Property covers approximately 52 kilometres of this potentially critical contact. This age of rock and type of contact is a common environment for the occurrence of (Lithium-Cesium-Tantalum) LCT-type pegmatites. As very limited historical work has been done on these claims and geological mapping is available only at a large scale, the property has very significant potential for discoveries of new pegmatite dykes – the primary source of lithium in this geological environment. These pegmatitic dykes can contain spodumene which is a Lithium aluminium inosilicate, otherwise known as a lithium ore mineral, and other elements such as Cesium and Tantalum that make up the ore minerals in LCT type deposits.

The Property acquisition consists of 2 separate agreements and four claim ‘blocks’. The Company and Optionor shall enter into two Option Agreements whereby the Optionor shall grant to the Company the right to acquire an undivided 100% interest in and to the Properties as follows:

Combined cash payment of \$20,000 and issuance of 200,000 shares of the Company to be paid to the Optionor, upon TSX Venture Exchange (“Exchange”) approval to the Definitive Agreement;

The Company incurs a total exploration expenditure on the Property in the amount \$40,000 on or before the one-year anniversary of the Definitive Agreement, to earn an undivided 50% interest in the Property;

Combined cash payment of \$40,000, and issuance of 400,000 shares of the Company to the Optionor by the one-year anniversary of the Definitive Agreement date;

The Company incurs a total exploration expenditure in the amount \$80,000 on or before the second-year anniversary of the Definitive Agreement, to earn an undivided 100% interest in the Property;

Upon exercise of the Option by the Company, the Company grants to the Optionor a 2% NSR on each of the 1-block and 3-block Properties and on Claims within a 2-kilometre area of influence from the perimeter of the 3-block package as well as to certain CCW claims in between and within a 2-kilometre area of influence from the perimeter of the 1-block property. The Company retains the option to buy back 1% of each NSR for \$500,000; and

Upon the filing of a NI 43-101 compliant Resource Estimate, where the resource is located within the area of interest, the Company will issue 150,000 shares to the Optionor if on the three-block property; or 50,000 shares if on the one-block property.

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