Discovery Lithium Offers Challenge Overview, The Canadian Enterprise Journal

VANCOUVER, British Columbia, Oct. 12, 2023 (GLOBE NEWSWIRE) — Discovery Lithium Inc. (CSE: DCLI) (OTC: DCLIF) (FRA: Q3Q0) (the “Firm” or “Discovery Lithium”), a Canadian exploration firm centered on advancing home power freedom via regional lithium discovery, is happy to offer a abstract of latest undertaking acquisitions in Quebec’s booming lithium sector.

Firm President & CEO Michael Gheyle advises, “2023 has been an eventful yr for Discovery Lithium as we progress and construct out our footprint as lithium explorers in Quebec. Our exploration strategy obtained a large kick-start when revered prospector Shawn Ryan introduced us the outcomes of a provincial examine of lake backside sediments that he discovered correlating knowledge that pointed to quite a lot of strategic acquisitions. The targets in Quebec are lithium-bearing pegmatites and as such, we’re tailoring our exploration plans to get onto our properties rapidly and effectively to develop a complete drill marketing campaign to correctly unearth the lithium potential on this red-hot area.”

Highlights

• Acquired 2 giant pegmatite property from award-winning prospector Shawn Ryan in Nunavik
• Part 1 work program in Nunavik accomplished, awaiting outcomes
• Acquired 4 pegmatite property in James Bay and jap Quebec
• Canada’s lithium present in Quebec – with latest notable exercise by firms like Patriot Battery Metals, Li-FT, Sayona, and Nemaska amongst many others. With the James Bay Area as the present scorching spot and the far north as a possible sport changer.

Challenge Areas

Northern Quebec (Nunavik)

• Vaubert 2,113 mineral claims, 89, 027 hectares / ~220,000 acres
• Serindac 1,675 mineral claims, 75,256 hectares / ~186,000 acres

James Bay Area, Quebec

• Route Du Nord 112 mineral claims, 5,972 hectares /~14,757 acres

Jap Quebec

• Lac Belanger 80 mineral claims, 4,384 hectares / ~10,833 acres
• Lac Ferland 72 mineral claims, 3,945 hectares / ~9,748 acres
• Lac Robertson 39 Mineral claims, 2,091 hectares /~5,166.9 acres

 

Property Descriptions

Vaubert and Serindac Lakes, Nunavik, Nord-du-Quebec Area

Extremely acknowledged, award-winning prospector and undertaking proponent Shawn Ryan has led the way in which in figuring out the mining-friendly Nunavik area via his in depth lake-soil research and he has suggested the Firm concerning using greatest observe fieldwork packages. Discovery Lithium’s huge declare holdings are situated instantly upon a few of the highest lake backside sediment anomalies in your complete province. This knowledge represents 99^th percentile lithium and cesium as recognized within the official Quebec authorities ministry database.

Over the summer season, Discovery Lithium engaged Floor Reality Exploration to deploy skilled analysis groups onto the Nunavik properties for an intensive mapping and sampling marketing campaign. These had been beforehand decided to be a superb location for rare-element pegmatites together with beneficial lithological rock-types and structural interpretation of regional magnetics that are coincident with very excessive lithium, cesium, and rubidium lake sediment samples. All samples collected over the summer season have been shipped to SGS laboratories with assay outcomes anticipated by the top of November 2023. Primarily based on these outcomes the Firm will develop drill concentrating on and logisitics for follow-up campaigns geared toward creating the properties for future valuation functions.

Route Du Nord Challenge, James Bay Area

The Route Du Nord undertaking is situated roughly 575 km north of Val d’Or within the James Bay area of central Quebec encompassing roughly 60 sq. kilometers stretching 36 km east to west and is parallel to and inside 5 km of the 407 km lengthy wilderness street often known as the “Route Du Nord.” The undertaking has wonderful infrastructure entry with the Nemiscau hydroelectric set up situated 5 km to the south. Roughly 35 km to the east is the world-renowned Whabouchi lithium deposit¹ co-owned by Investissement Quebec and Livent Company (NTSE:LTHM). This accretion happens inside a regional thrust fault that extends and terminates within the Valiquette pluton. The fault acted as a pathway for LCT (Li-Cs-Ta) pegmatite soften on the Whabouchi lithium undertaking and should host different LCT pegmatites alongside strike. The Route Du Nord undertaking captures the continuation of the thrust fault into the Valiquette Pluton, making it extremely potential for LCT pegmatites.

Lac Belanger and Lac Ferland Tasks, St. Lawrence North Coast, Jap Quebec

The Lac Belanger and Lac Ferland initiatives are on the north coast of the Gulf of St. Lawrence in Quebec and embody 80 sq. kilometers mixed. The claims are situated on metasedimentary terrane close to fractionated granites which might be potential supply intrusions for LCT pegmatites. Pegmatites are described within the area by the geological survey of Quebec and had been mapped to the south alongside the coast the place mapping occurred intimately. Lithium in lake sediments on the claims is as much as 15 occasions enriched with respect to the rapid environment.

Lac Robertson Challenge, St. Lawrence North Coast, Jap Quebec

The Lac Robertson undertaking is situated instantly west of Lac Robertson and encompasses 18 sq. kilometers. Lake backside sediments of Lac Robertson are extremely anomalous in lithium and the lake overlies a big gravity and RMI (residual magnetic depth) anomaly. Taken collectively these anomalies indicate a possible fertile supply intrusion beneath Lac Robertson. The Lac Robertson Challenge covers potential pegmatites seen in satellite tv for pc imagery.

Media & Communications

The Firm pronounces it has engaged Rumble Strip Media Inc. (“Rumble”), Traktor Beam Media Methods Inc. (“Traktor”), Oceanfront Consulting GmbH (“Oceanfront”) and UnityWest Capital Markets Ltd. (“UnityWest”, and collectively, the “Service Suppliers”) to offer sure social media, advertising and marketing and consulting companies to Discovery, which can embody investor relations actions inside the that means of relevant securities legal guidelines and the insurance policies of the Canadian Securities Trade.

Discovery has engaged Rumble to offer companies to the Firm for an preliminary time period of six months, beginning on June 1, 2023, in consideration for the Firm making mixture money funds of US$250,000 to Rumble, with an possibility to increase month-to-month upon mutual settlement and time period completion. Rumble and its principals are arm’s size to the Firm and, to the data of the Firm, Rumble doesn’t personal, management, or direct any securities of the Firm. Rumble Strip Media Inc. Tackle: #893 250-997 Seymour St, Vancouver, British Columbia, V6B 3M1; E mail: [email protected]) is a Vancouver-based media and consulting agency.

The Traktor engagement is for an preliminary time period of 90 days beginning on September 29, 2023, and may be prolonged by mutual settlement. The Firm has supplied Traktor with an preliminary price range of US$12,500 per thirty days, topic to vary relying on the character of the companies requested by the Firm sometimes. Traktor and its principals are arm’s size to the Firm and, to the data of the Firm, Traktor doesn’t personal, management or direct any securities of the Firm. Traktor Beam Media Methods Inc. Tackle: 3268 West twenty sixth Avenue, Vancouver, British Columbia, VL1 1W1; E mail: [email protected]) is a Vancouver-based media and consulting agency.

Discovery engaged Oceanfront for an preliminary two-week time period pursuant to an settlement dated efficient October 2, 2023. The time period of the engagement may be prolonged by mutual settlement. In consideration for offering advertising and marketing materials distribution and e mail and social media advertising and marketing companies to the Firm, the Firm has agreed to pay Oceanfront €50,000 for the preliminary time period. Oceanfront and its principals are arm’s size to the Firm, and, to the data of the Firm, Oceanfront doesn’t personal, management or direct any securities of the Firm. Oceanfront Consulting GmbH. Tackle: Bergstraße 54, 23669 Timmendorfer Strand, Germany; E mail: [email protected]) is a media and consulting agency based mostly out of Germany.

The UnityWest engagement is for an preliminary time period of 4 months beginning on October 3, 2023, and may be prolonged by mutual settlement. In consideration for offering promoting, advertising and marketing and company consultancy companies to the Firm, the Firm has agreed to pay UnityWest C$10,000 per thirty days and supply UnityWest with a price range of C$10,000 per thirty days to cowl the prices related to the companies. The Firm might improve or lower the month-to-month price range relying on the character of the companies requested by the Firm sometimes. UnityWest and its principals are arm’s size to the Firm and, to the data of the Firm, UnityWest doesn’t personal, management, or direct any securities of the Firm. UnityWest Capital Markets Ltd. Tackle: #12 Wootton Rivers, Marlborough, Wiltshire, United Kingdom, SN8 4NH; E mail: [email protected]) is a media and consulting agency based mostly out of London, United Kingdom.

Conclusion

“We consider that good investor communications are crucial in at this time’s market, and a abstract replace of our initiatives is a well timed and environment friendly manner to assist unfold the message concerning our technique within the area,” Mr. Gheyle continues. “With whole holdings of 180,675 hectares (~446,457.6 acres) of potential claims for lithium exploration all concentrated in Quebec, and in lots of situations adjoining to our friends, we’re delighted to be within the enviable place of ‘proper place on the proper time’ because the world continues to ramp up demand for lithium. We look ahead to listening to from members of the general public, media, and funding neighborhood as we forge forward with our continued plans for district-scale discovery.”

On behalf of the Board of Administrators,

Michael Gheyle
President & Chief Govt Officer

Certified Individual
The technical content material of this information launch has been reviewed and permitted by Mike Kilbourne, P. Geo., (OGQ # 1971) who’s an impartial Certified Individual (QP) as outlined in Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks (“NI 43-101”).

All technical data herein constitutes ‘historic estimates’ as that time period is outlined in NI 43-101. A certified particular person has not performed ample work to categorise any of the references mentioned herein as present mineral assets or mineral reserves and the Firm just isn’t treating the historic estimates as present mineral assets or mineral reserves. These estimates are being handled as historic in nature. Accordingly, these historic estimates are offered just for the needs of aiding in describing the extent of lithium mineralization and to stipulate the exploration potential. Any historic samples are by their nature selective and usually are not essentially indicative of the final geology or grade inside the property(s) and usually are not contained in a 43-101 technical report and are supplied for context solely. These estimates shouldn’t be relied upon for assessing the deserves of the Discovery Lithium properties. The Firm will undertake such exploration work because it determines crucial with a purpose to improve or confirm the historic estimates contained herein.

The Firm wish to welcome buyers to go to our web site and be part of our mailing record at www.discoverylithium.com/news-alerts/. By subscribing you’ll keep updated with the newest information releases and developments inside our firm.

About Discovery Lithium (CSE: DCLI) (OTC: DCLIF) (FRA: Q3Q0)
Discovery Lithium Inc. is a Canadian exploration firm centered on advancing mineral useful resource initiatives in North America. The Firm holds a 100% curiosity in 1,675 mineral claims in Serindac Lake and a pair of,113 mineral claims in Vaubert Lake for a mixed whole of roughly 164,283 hectares (~405,952 acres) situated within the Nunavik area of Northern Quebec, and with an extra whole of 303 mineral claims comprising roughly 16,392 hectares (~40,505.5 acres) recognized because the Route De Nord, Lac Belanger, Lac Ferland and Lac Roberston properties situated throughout the northern and jap areas of Québec together with the prolific lithium district of the James Bay area. Moreover, the Firm is actively advancing its ESN Challenge for gold exploration in Nevada and evaluating the Koster Dam Challenge in Central British Columbia via a three way partnership with Cariboo Rose Assets. Discover out extra at: www.discoverylithium.com and observe us on X (previously twitter), Fb, and LinkedIn.

For additional data, please contact:

Discovery Lithium Inc.
1450 – 789 West Pender Road,
Vancouver, BC Canada V6C 1H2
Phone: +1 (778) 868-2226
E mail: [email protected]
Net: www.discoverylithium.com
  
Warning Relating to Ahead-Wanting Data
Sure statements contained on this information launch might represent “forward-looking data” inside the that means of Canadian securities laws. Ahead-looking data is commonly, however not all the time, recognized by way of phrases comparable to “anticipate”, “plan”, “estimate”, “count on”, “might”, “will”, “intend”, “ought to”, and related expressions. Ahead-looking data on this information launch consists of, however just isn’t restricted to, statements concerning the Firm’s mineral claims (the “Claims”), together with the Firm’s plans and expectations concerning the Claims, and different statements concerning the Firm’s future enterprise plans and targets. Ahead-looking data entails recognized and unknown dangers, uncertainties and different elements that will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking data. The Firm’s precise outcomes may differ materially from these anticipated on this forward-looking data because of counterparty threat, market situations, regulatory selections, aggressive elements within the industries wherein the Firm operates, prevailing financial situations, adjustments to the Firm’s strategic development plans, and different elements, lots of that are past the management of the Firm. The Firm believes that the expectations mirrored within the forward-looking data are affordable, however no assurance may be provided that these expectations will show to be right and such forward-looking data shouldn’t be unduly relied upon. Any forward-looking data contained on this information launch represents the Firm’s expectations as of the date hereof and is topic to vary after such date. The Firm disclaims any intention or obligation to replace or revise any forward-looking data whether or not because of new data, future occasions or in any other case, besides as required by relevant securities laws.

The CSE has not in any manner handed upon the deserves of the issues referenced herein and has neither permitted nor disapproved the contents of this information launch.

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1} References to different deposits are for illustrative functions solely. The Route Du Nord undertaking is an exploration stage undertaking, and a useful resource or deposit might by no means be outlined.

A photograph accompanying this announcement is out there at https://www.globenewswire.com/NewsRoom/AttachmentNg/1fd15c98-40d3-4a9a-9d99-bfab5b797054

 

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