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Beyond Lithium expands three exploration projects and acquires new property

Sep 21, 2023

Beyond Lithium Inc. is pleased to announce the acquisition of a 100% undivided interest in 279 non-contiguous mining claims totaling 9,378 hectares. This acquisition results in a significant expansion of three of its optioned properties known as the Ogani Lake, Maytham, and Superb Lake North, as well as the acquisition a new property named Sydere (collectively, the "Properties"). The Properties are all located in the province of Ontario.

Allan Frame, President & CEO of Beyond Lithium, commented that, "The expansion of three of our properties comes on the heels of our Phase 1 exploration program results. We have now moved 17 projects to Phase 2 exploration and expanded three properties, in addition to the expansion of the Ear Falls project announced earlier this week. The upcoming results from our Phase 2 programs, plus pending results from Phase 1 exploration on several properties will dictate which projects will we dedicate exploration dollars to later this year and in 2024." 

He added: "Given the work done to date, we have identified several projects which we believe will be attractive for exploration companies wanting to establish a footprint in Ontario for lithium exploration. Consistent with our business plan which includes project generation, we are about to ramp up our efforts to find partners to advance various projects and provide non-dilutive capital for our company."

The staking for these expansions and the staking of Sydere were conducted by Bounty Gold Corp. ("Bounty Gold") and Last Resort Resources Ltd ("Last Resort") on behalf of Beyond Lithium. The acquisition was completed pursuant to the terms and conditions of a mineral property purchase agreement which also included the previously announced expansions of the Cosgrave and McKenzie properties. Pursuant to the purchase agreement, Beyond Lithium will pay Bounty Gold and Last Resort an aggregate cash consideration of $44,300 and issue a total of 92,880 common shares of the Company. These expansions and the acquisition of Sydere are subject to the exact same NSR and milestones payments terms and condition granted in the original properties optioned in March 2023 (see the Company's March 31st, 2023 news release). Following the recent acquisition, expansion and consolidation of properties, Beyond Lithium now has 61 properties covering over 180,000 hectares.

Ogani Lake Project Expansion

The Ogani Lake Project is located 30 km northeast of the Ear Falls Project which hosts Beyond Lithium's newly discovered spodumene pegmatites zone and 65 km west of Green Technology Metals' Root and McCombe Lithium deposits. The Ogani Lake Project is expanded from 1,427 hectares to 5,177 hectares after beryl was found in several white tourmaline-muscovite pegmatites up to 10 meters wide during Beyond Lithium's phase 1 program (Figure 1). The presence of beryl in pegmatites indicates the source of the pegmatites or the pegmatites' parental pluton is abundant with the right rare-earth fluid composition for the potential of lithium-cesium-tantalum mineralization in pegmatites.

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