Arctic Fox Completes Phase 2 Exploration Program at Pontax North
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
October 30, 2024 Trading Symbol: CSE - AFX
FSE - O5K
ARCTIC FOX COMPLETES PHASE 2 EXPLORATION PROGRAM AT PONTAX NORTH
VANCOUVER, BRITISH COLUMBIA (October 30, 2024) – Arctic Fox Lithium Corp. (CSE: AFX / FSE: O5K)
(the “Company”) is pleased to announce that it has completed its Phase 2 exploration campaign at the Pontax
North property, located in the James Bay region of Québec. Building on the successful outcome from Phase 1,
Phase 2 targeted three primary areas of interest, as highlighted in the map below, for an intensive stripping and
controlled blasting sampling program.
Phase 2 Exploration program details :
Following the identification of both a promising geological context and rare metals anomalies after the 2023 and
early 2024 exploration programs, the exploration team focused on the most prospective areas highlighted to date.
The overall objective of the Phase 2 program was to further delineate and evaluate the mineral potential of these
high priority areas through targeted stripping , controlled blasting and detailed geologica l mapping. Six targeted
outcrops over three high priority areas were covered (See figure below) :
1. Area 1: A region highlighting significant anomalies in cesium, niobium, beryllium and tantalum, which
align with signatures of LCT (Lithium-Cesium-Tantalum) pegmatites.
2. Area 2: A high potential zone featuring white biotite-garnet bearing pegmatites, closely associated with
rare metal anomalies up to 106 ppm Li and 11.2 ppm Cs discovered during Phase 1.
3. Area 3: A high potential zone featuring biotite-muscovite-garnet bearing pegmatites, closely associated
with lithium anomalies up to 54 ppm Li discovered during Phase 1.
The Phase 2 exploration program commenced on October 4th and was completed on October 13th. Each of the six
primary targets underwent controlled dynamite blasting to expose fresh rock for analysis, ensuring optimal
sampling conditions . Field observations confirmed interesting environment s at each place with observation of
white pegmatite with locally greenish reflections, hosting red garnets, tourmaline and muscovite in various
proportions, which is typical of a peraluminous (S-type) composition.
Three (3) grab samples were collected fr om each location for a total of eighteen (18) samples , with the aim of
gaining a deeper understanding of the geolog y and lithium potential. All eighteen (18) samples have been
submitted to ALS laboratory in Val d’Or, Québec and are currently being assayed.
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
Harry Chew, Chief Executive Officer of Arctic Fox, commented, “Our Phase 1 exploration results have
highlighted strong indicators of the potential for lithium and other strategic minerals on the Pontax North
property. The Phase 2 program was executed by a team experienced in controlled blasting supported by a
geological team specializing in pegmatite and lithium exploration. With their expertise we are confident the
program will yield important information to further our exploration efforts at Pontax North”.
Figure 1: Blast preparation target #2 Figure 2: Freshly Exposed rock target #2
About Arctic Fox Lithium Corp.
Arctic Fox Lithium Corp. is a junior mineral exploration company focused on the acquisition and development of
mineral properties containing battery, base and precious metals.
The Company’s 2,756-hectare Pontax North Lithium Project (“Pontax North”) is located 12 km south of Allkem
Ltd. (ASX/TSX:ALLKEM) (“ Allkem”) James Bay Lithium Project and 12 km north of Stria Lithium Inc.’s
(CSE:SRA) Pontax Lithium Project, located in northern Québec, approximately 130 km east of James Bay and
the Cree Nation’s Eastmain community.
The northern portion of Pontax North conta ins a lithium prospective zone in a similar geological environment to
Allkem’s project. According to the Quebec Ministère de l’Énergie et des Ressources Naturelles (MERN) the
Causabiscau Suite is characterized by the abundance of S -type pegmatitic granite intrusions, a lithology known
for its Be, Li, Cs, Nb, and Ta potential. Beryl (a beryllium silicate mineral) is reported in several outcrops within
this zone. The Property is known to contain a 10 km long pegmatite trend as mapped by MERN. This trend
appears to be underexplored, despite its recognized lithium potential. Swarms of lithium -bearing granitic dykes
are present 12 km north of the Property at Allkem’s Cyr deposit and at Stria Lithium’ s Pontax deposit 12 km to
the south.
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
References to adjacent properties:
12 km North: Allkem Ltd. James Bay Lithium:
The technical report entitled “NI 43-101 Technical Report Feasibility Study James Bay Lithium Project Quebec,
Canada” prepared by G Mining Services, SLR Consulting, Wave International and WSP Canada and dated
September 29, 2023.
12 km South: Stria Lithium Inc. (Pontax Lithium Project):
https://strialithium.com/exploration/pontax-project/
* This news release contains information about adjacent properties on which Arctic Fox has no right to explore or
mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on
the Company’s properties.
The technical information contained within this News Release has been reviewed and approved by Benjamin Mougin,
P.Geo, M.Sc. and Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral
Projects. Benjamin Mougin is independent of Arctic Fox Lithium Corp.
For further information, please contact:
Harry Chew, President, CEO
Phone: (604) 689-2646
On behalf of the Board of Directors,
“Harry Chew”
Harry Chew
President & CEO
Arctic Fox Lithium Corp.
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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian
Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information: This release includes certain statements that may be deemed "forward -looking statements". All statements in this release,
other than statements of historical facts, that address any activities and events or developments that Arctic Fox Lithium Corp. ("Arctic Fox") expects to
occur, are forward-looking statements. Although Arctic Fox believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking
statements. Forward -looking statements in this press release include, but are not limited to, statements relating to: potential benefits of the fieldwork
described in this press release; and the future potential of and exploration on the properties described in this press release. Factors that could cause actual
results to differ materially from those in forward looking statements include the failure to complete the fieldwork on the timing and terms as contemplated or
at all; uncertainty with respect to the results of future exploration and the ability to conduct any exploration activities on the pr operties described in this
press release; market prices; disruptions relating to the COVI D-19 pandemic; and continued availability of capital and financing and general economic,
market or business conditions. These statements are based on a number of assumptions including, among other things, assumptio ns regarding general
business and economic conditions; in order to conduct anticipated exploration activities ; and that the exploration compilation work described in this press
release will be completed as anticipated . Investors are cautioned that any such statements are not guarantees of future p erformance and actual results or
developments may differ materially from those projected in the forward -looking statements. Arctic Fox does not assume any obligation to update or revise
its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.