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Champion Electric adds claims to Lithium Pegmatite Project James Bay, Quebec

Jul 27, 2023

Champion Electric Metals Inc. has announced an agreement to acquire the Griesbach Lithium Project located in the pegmatite-rich Eeyou Istchee James Bay territory of Quebec. Champion Electric now controls 1036 claims representing 529.17 km2 in James Bay.

Image removed.

Figure 1: Property Location Map Including New Claims*

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As part of the agreement, Champion Electric acquired 55 claims for 1,700,000 common shares of the Company. Half of the common share consideration included in the agreement incorporate a voluntary escrow of 18 months from the date of issuance. Additionally, the Vendors retain a 2% net smelter royalty ("NSR"). The Company has the option to repurchase 1% of the NSR from the Vendors for $1 million. 

*The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties, and proximity to projects containing lithium resources offers no assurance that the rock types or lithium resources reported by Patriot and others extend onto the Projects and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in the district.

Qualified Person

Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed, and approved the technical information in this news release.

About Champion Electric Metals Inc.

Champion Electric is a discovery-focused exploration company that is committed to advancing its highly prospective lithium properties in Quebec, Canada and cobalt properties in Idaho, United States. In addition, the Company owns the Baner gold project in Idaho County and the Champagne polymetallic project in Butte County near Arco.


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