Winnipeg, Manitoba--(Newsfile Corp. - April 25, 2024) - Beyond Lithium Inc. (CSE: BY) (OTCQB: BYDMF) (the "Company" or "Beyond Lithium") is pleased to announce that the Company and its exploration team have been awarded the prestigious 2023 Bernie Schnieders Discovery of the Year Award for the spodumene discovery at its Victory Project in Ontario, Canada.
The award, presented by the Northwestern Ontario Prospectors Association (NWOPA), annually recognizes an exceptional discovery in Northwestern Ontario during the previous calendar year. It was presented on April 24 to Beyond Lithium and its exploration team at the annual awards banquet hosted during the 2024 Ontario Prospectors Exploration Showcase in Thunder Bay, Ontario. Past recipients of this prestigious award include Great Bear Resources Inc., Frontier Lithium Inc. and Delta Resources Ltd.
The discovery was made in the summer of 2023. The two spodumene-bearing pegmatites occur along a six-kilometer corridor prospective for rare earth element exploration, adjacent to the fertile Medicine Lake pluton.
The Last Resort Resources pegmatite was discovered by Kyle Brand, Jace Angell and the team from Last Resort Resources Ltd. The pegmatite is up to 40 meters wide and has been traced along strike for up to 200 meters, with grab samples assaying up to 5.11% Li2O.
The Bounty Gold pegmatite was discovered by Jason Leblanc and the team from Bounty Gold Corp. The pegmatite is up to 50 meters wide and is exposed along strike for 300 meters, with grab samples returning up to 3.48% Li2O.
Beyond Lithium's Victory Spodumene Project (16,682 ha) is located in the Medicine Lake area near the towns of Vermilion Bay, Dryden, and the city of Kenora with excellent and existing infrastructure.
Left to right: Allan Frame, President & CEO, Beyond Lithium Inc., Jace Angell, President of Last Resort Resources Ltd., and Jason Leblanc, President of Bounty Gold Corp. at the April 2024 award ceremony.
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A channel sampling program will recommence in May. Previous program was not completed due to onset of snow. Initial results of 0.32% Li2O and 162ppm Cs over 13.85 meters with 2.05% over 1.00m are indicative of mineralization throughout the channel with, narrower, higher-grade zones. The results confirm surface observations and emphasize the need for mechanical stripping to reveal more mineralized zones of the pegmatites.
Allan Frame, President and CEO of Beyond Lithium, said, "We would like to sincerely thank the NWOPA for this honour, and look forward to expanding on our exciting discoveries at the Victory project. I am thrilled to confirm that Jason Leblanc and Jace Angell and their crew are back on our exploration team this season. We could not be more pleased with our partnership with them."
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. has a large greenfield lithium exploration portfolio in Ontario with 27 high potential greenfield lithium properties totalling over 119,000 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.
Beyond Lithium currently has 36,623,482 common shares outstanding.
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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:
Allan Frame
President and CEO
Tel: 403-470-8450
Email: [email protected]
Jason Frame
Manager of Communications
Tel: 587-225-2599
Email: [email protected]
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