Metalite Provides an Update on Its Recent Acquisition of Next Generation Resources and Exploration Strategy
Metalite Provides an Update on Its Recent Acquisition of
Next Generation Resources and Exploration Strategy
Toronto, ON, May 2, 2023 – Metalite Resources Inc. (CSE:METL) (OTC PINK:JNCCF)
(Frankfurt:5VHA) (" Metalite" or the " Company") is pleased to announce its new exploration strategy
after completion of its recent acquis ition of Next Generation Resources (“NextGen”). The NextGen
acquisition provides Metalite with immediate access to an extensive portfolio of properties covering 3,233
square kilom etres which are prospective for lithium, and other rare earth elements (REEs) in Liberia,
West Africa. In addition, Metalite has acquired NextGen’s team of professionals with over 15 years’
experience in Liberia and access to a fully functional base of o perations in Monrovia including
geological, logistical, financial and administrative teams to support the Company’s exploration programs.
The geological t eam has the capacity and capability to complete cost-effective evaluation s and acquire
additional licenses with demonstrated potential.
Mr. Dave Melling, Metalite ’s CEO commented “The acquisition of NextGen is an important step in
building shareholder value. In one transaction the Company has acquired 7 reconnaissance licences
prospective for battery metals, as well as the personnel and infrastructure to complete the exploration
work. The global demand for lithium is steadily increasing and pushing the price of lithium carbonate to
new highs. Lithium consumption is expected to rise exponentially over the coming decade, largely driven
by consumer demand for electric vehicles, and the growing shift towards renewable sources of energy.”
Dave Melling and Efdal Olcer Metalite’s VP Exploration have ju st completed 3-weeks of reconnaissance
field work coverin g all 7 of the Company’s mineral licences in Liberia. The primary goal of this work
was to develop an exploration plan and budget for the remainder of 2023. The envisaged exploration
program will include up to 15,000 soils samples and 1,000 stream sedime nt samples in concert with
geologic mapping, prospecting, and rock sampling. A key element of the program will be mapping all
artisanal mining sites with emp hasis placed on Coltan, a niobium-tantalum mineral commonly associated
with LCT Pegmatites and go ld. The sampling programs will be initiated in June and should be
completed by December 2023. The results of this work will define targets for follow up wo rk which will
include trenching and drilling programs in 2023.
The information in this news rele ase was compiled and reviewed by David Melling, P.Geo who acts as
Metalite’s Qualified Person, under National Instrument 43 -101 rules for mineral deposit disclosure . Mr.
Melling is a Professional Geoscientist (P.Geo) and a registered member of the Enginee r and Geoscientists
of British Columbia (no. 18999) a Recognized Professional Organization. Mr. Melling is Metalite’s CEO
and h as sufficient experience relevant to the crystallization of lithium -cesium-tantalum (LCT) type
pegmatite deposits under evaluation.
About Metalite Resources Inc.
Metalite Resources Inc. is a Canadian junior mineral expl oration issuer uniquely positioned to generate
incremental shareholder value through its vast battery metals focused license portfolio in Liberia, West
Africa and an extensive precious metals focused project portfolio in NSW, Australia. The Company has 6
Australian projects cover ing over 600 sq km ’s in NSW and include s 67 historical mines and prospects
focused on Gold and Silver, along with various indic ator minerals that occur along with these precious
metals.With the recent acquisition of Next Generation Resources with over 3,200 sq. km of land position
in Liberia, the Company has amassed a set of 7 highly prospective licenses that show evidence of high -
2
4872-8748-5503.1
potential mi neralization containing various lucrative metals , i ncluding Lithium, REEs, Cobalt, Nickel,
Copper, Zinc, Aluminium and Gold.
For further information please contact:
Ryan Bilodeau
(416) 910-1440
To learn more, please visit https://www.metaliteresources.com/ .
Forward-Looking Statements
This news release contains certain "forward -looking statements." All statements, other than statements of
historic fact, that address activiti es, events or developments that Metalite believes, expects or anticipates
will or may occur in the future are forw ard-looking statements. Forward -looking statements are often,
but not always, identified by the use of words such as "seek," "anticipate," "be lieve," "plan," "estimate,
“expect," and "intend" and statements that an event or result "may," "will," "can," "sh ould," "could," or
"might" occur or be achieved and other similar expressions. These forward -looking statements reflect the
current expectations or beliefs of Metalite based on information currently available to Metalite. Forward-
looking statements are subject to a number of risks and uncertainties that may cause the actual results of
Metalite to differ materially from those discussed in the for ward-looking statements, and even if such
actual results are realized or substantially realized, there can be no a ssurance that they will have the
expected consequences to, or effects on Metalite. Factors that could cause actual results or events to
differ materially from current expectations include, among other things, failure to successfully complete
financings, ca pital and other costs varying significantly from estimates, production rates varying from
estimates, changes in world mineral commodity market s, changes in equity markets, uncertainties
relating to the availability and costs of financing needed in the futu re, equipment failure, unexpected
geological conditions, imprecision in resource estimates, success of future development initiatives,
competition, operating performance of facilities, environmental and safety risks, delays in obtaining or
failure to obtain tenure to properties and/or necessary permits and approvals, and other development and
operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except
as may be required by applicable securities laws, Metalite di sclaims any intent or obligation to update
any forward -looking statement, whether as a result of new information, future events or results or
otherwise. Although Metalite believes that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty therein.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility
for the adequacy or accuracy of this release