CDN Maverick Corporate Update, Appointment of Director, President & COO
CDN MAVERICK CORPORATE UPDATE, APPOINTMENT OF DIRECTOR, PRESIDENT & COO
Vancouver, British Columbia – December 01, 2023 – CDN Maverick Capital Corp. (“Maver- ick” or the “Company”) (CSE: CDN; OTCPINK: AXVEF; Frankfurt: A117RU) is pleased to provide a corporate update encompassing significant developments regarding our investment in Noram Lithium Corp’s Zeus Lithium Project, board and management changes and the Poncheville Lithium Prospects in Quebec.
PONCHEVILLE LITHIUM PROSPECTS, JAMES BAY, QUEBEC
Preliminary results from rock samples collected at 1km approximate grid spacing during the first ever reconnaissance pass on these very large grass roots properties during summer phase 1 traverses on the two Lithium projects indicate the existence of prospective ground for LCT Pegmatites similar to those found in other prolific lithium bearing pegmatite fields in the Quebec Province. Despite Lithium values of <100pmm were found in all samples, a considerable number of them are above background levels (See figures 1 and 2).
Fig. 1 Chabinoch. Assay Results (Li ppm)
Fig. 2: Poncheville. Assay Results (Li ppm)
There is one sample (#2142210) that returned elevated REE values (71.1 ppm Ta, 388ppm Nb, 113 ppm Y and 1432 ppm Mn), that likely corresponds with Mn-Columbite-Tantalite, clearly indicative of a rock forming mineral found in LCT pegmatites (See photo following text).
Photo 1: Pegmatite Sample 2142210 (71.1 ppm Ta, 388ppm Nb, 113 ppm Y and 1432 ppm Mn)
CHANGE TO THE BOARD, MANAGEMENT
Maverick further announces a change to its Board by appointing Simon D. Studer as additional Director of the company. Mr. Studer will also assume the role of President and Chief Operating Officer. As part of the founding team of Maverick, Mr. Studer will report directly to Executive Chairman Sandy MacDougall and work alongside Chief Executive Officer Adam Cegielski in continuing to effectively implement the Company's strategic vision.
"We look forward to bringing Simon onboard the Maverick team to enhance the positive momentum we’ve established so far, " said Sandy MacDougall, Founder and Executive Chairman. "His experience in Argentina and leadership in identifying and bringing the NOAL partnership to the table, has brought significant value to the Company. We are confident that his skills will continue to greatly benefit the Company as we expand and develop our projects."
Mr. Studer holds a master’s degree in Earth and Energy Resource Leadership from Queen's University in Kingston, Ontario. He brings relevant international expertise in the exploration business to the company having worked on numerous lithium, copper, and gold exploration and development projects in North and South America and being fluent in German, English, and Spanish.
"I am honored to join the Maverick team, which boasts a very experienced and accomplished group of executives and professionals from the mining industry," said Simon Studer and continues "we are aligned in our “shareholder first” values and I look forward to working closely with the team to execute on the Company's business plan; driving the expansion and development of our exploration projects and create sustainable value for our shareholders.”
NORAM LITHIUM INVESTMENT
The company secured a significant equity stake in Noram Lithium Corp. (“Noram”) (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R). Noram has provided an update on its 100% owned Zeus Lithium Project, where it was recently completed a geological review of the Project (see news release dated November 7, 2023) and prepares to drill a second potential high-grade zone at the Zeus Lithium project located in Clayton Valley, Nevada. The results of the work highlighted the potential for multiple high-grade layers below the known high-grade layer which outcrops at surface and is the focus of the current mine planning for the Zeus Project
Qualified Person
Raul Sanabria, M.Sc., P.Geo., the qualified person for the Company as defined by Canadian National Instrument 43-101 has reviewed and approved the technical information contained in this release.
ABOUT CDN MAVERICK CAPITAL CORP.
CDN Maverick Capital Corp. is a diversified exploration Company, with a core focus on lithium.
Electric Avenue Ontario: Northwind Lake Lithium Property
7,040 hectares in the “Electric Avenue”, an emerging lithium pegmatite exploration camp in the Red Lake area of Ontario, near to Frontier Lithium’s PAK Lithium Project.
Jame Bay Quebec: Poncheville Lithium Prospects
Lithium pegmatite prospect spanning nearly 40,000 hectares across the Poncheville and Chabinoche properties
Rainbow Canyon Nevada:
The Company also owns the Rainbow Canyon Gold Project in Nevada
Investments
1. Holds 408,291 shares of NOAL Lithium Brines Inc., a lithium company actively working in the Lithium Triangle and drilling its maiden resource in the area.
2. Holds over 1.6M shares in Noram Lithium Corp.; a lithium clay sands exploration and development Issuer located in Clayton Valley Nevada with a significant lithium resource known as the Zeus project. Noram is working towards a Prefeasibility Study.
As part of its ongoing efforts, CDN is actively expanding its critical minerals portfolio across the Americas, with a firm commitment to sustainable and ESG-friendly investing and exploration.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall Founder, Chairman, and Director [email protected] C: 778.999.2159
Adam Cegielski CEO, Director [email protected] C: 905.510.8890
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This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management’s estimates or opinions change.
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