Clarity Initiates Remote Sensing Survey ON the LITHIUM381 Property
Vancouver, B.C. (CSE: CMET, OTC: CLGCF, FSE: 27G)
CLARITY INITIATES REMOTE SENSING SURVEY ON THE LITHIUM381 PROPERTY
Vancouver, BC – December 29, 2022, Clarity Metals Corp. (“Clarity” or the “Company”) (CSE: CMET, OTC:
CLGCF, FSE: 27G) is pleased to announce that it has contracted Axiom Exploration Group Ltd. (“Axiom”)
to carry out a remote sensing program over the Lithium381 property. The remote sensing work includes
the acquisition, processing, analysis, and interpretation of Synthetic Aperture Radar ("SAR") and Sentinel
& Aster Multispectral data.
By combining modern remote sensing techniques using multispectral imaging and synthetic aperture
radar to analyze vegetation, structure, alteration, and ground movement, complex anomalies covering
large areas can be quickly and effectively identified. This is a multivariate exploration approach, combining
existing geological, geochemical, and geophysical data with multiple satellite analyses, to identify new
potential mineral targets.
James Rogers CEO of Clarity commented “The project area has a lack of outcrop and building a base of
high-resolution geophysical data such as that from this remote sensing program as well as the Triaxial
Magnetometer and Induced Polarization Survey also being performed this winter will help our team to
define targets for additional follow up.”
The Lithium381 Property
The Property is located in Northern Quebec, Canada, approximately 3 km from the James Bay Road and
the service station at KM381 which provides infrastructure to the local area.
The 21 mineral claims comprising the 1107 ha property are contiguous with Allkem Limited’s James Bay
Lithium Property hosting a deposit with Indicated resources of 40.8 Mt @1.40% Li 2O. The James Bay
Lithium deposit is a lithium bearing pegmatite, which is slated to start construction in Q1 2023. (Source:
Allkem Feasibility Study filed by Allkem on SEDAR on January 11, 2022).
The Property has not previously been explored for lithium bea ring pegmatites but is underlain primarily
by amphibolite facies metasedimentary and minor metavolcanic rocks of the Lower Eastmain Group of
the Eastmain Greenstone belt in the northeastern part of the Superior Province; the same host rocks of
the adjacent James Bay Lithium Deposit.
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Quebec has become a favourable jurisdiction for critical mineral exploration investment with its ‘2030
Plan for a Green Economy’ targeting a reduction in carbon emissions as well as its ‘Plan for Development
of Critical and Strategic Minerals (2020 -2025)’ which includes commitments to share financial risk and
plans to improve infrastructure for projects in Northern Quebec.
About Axiom
Axiom Exploration Group Ltd . is an employee -owned private company with its corporate head office
located in Saskatoon, Saskatchewan. Established in 2011, the Axiom Group is a technology focused,
vertically integrated, consulting firm providing a diverse set of technical services wit hin, and integrated
across, each of its 5 main divisions: Exploration, Geophysics & Geomatics, Environment, Applied Analytics
& Energy Services. These core divisions are supported by its in-house R&D, AI and ML technology.
To learn more about Axiom Exploration Group Ltd. visit www.axiomex.com
Clarity recently entered into an option agreement to earn an undivided 50% right, title, ownership and
beneficial interest of the Lithium381 Property from Genius Metals Inc ., an arm’s length public company
listed on the TSX Venture Exchange (“TSXV”) (See Clarity news release of Dec 7, 2022).
Qualified Person
Mr. Rory Kutluoglu P. Geo., a member of the advisory board and a consultant of the Company, is a
Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects
and has reviewed the technical information in this news release.
Closing of Financing
The Company is pleased to announce that, further to its news release dated December 7, 2022, it has
closed its private placement financing consisting of 10,000,000 units (each, a “Unit”) at a price of $0.10
per Unit for gross proceeds of $1,000,000 (the “Offering”).
Each Unit consists of one common share of the Company (each, a “Share”) and one share purchase
warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Share
(each, a “Warrant Share”) at a price of $0.12 per Warrant Share for a period of three years from closing
of the Offering, subject to an acceleration provision whereby in the event the Shares have a closing price
on the Canadian Securities Exchange (or such other exchange on which the Shares may be traded at such
time) of $0.50 or greater per Share for a period of ten (10) consecutive trading days at any time after four
months and one day from the date of issuance, the Company may accelerate the expiry date of the
Warrants by giving notice to the holders thereof (by disseminating a news release advising of the
acceleration of the expiry date of the Warrants) and, in such case, the Warrants will expire on the thirtieth
(30) day after the date of such notice.
The Company paid $5,100 cash finder’s fee and issued 51,000 broker warrants (the “Broker Warrants”) to
one eligible finder in connection with the closing of the Offering in accordance with applicable securities
laws. The Broker Warrants have the same terms and conditions as the Warrants.
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Proceeds from the Offering will be used for general corporate, investor relations marketing and working
capital.
The securities issued under the Offering, and the shares that may be issuable on exercise of the Warrants,
are subject to a statutory hold period expiring on April 29, 2023.
None of the securities issued in the Offering have been, and none of them will be registered under the
United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the Unit ed States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
An insider of the Company acquired 200,000 Units which constituted a related party trans action under
Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-
101”). The issuance to the insider is exempt from the valuation requirement of MI 61 -101 by the virtue
of the exemption contained in section 5.5(b) as the Company’s shares are not listed on a specified market
and from the minority shareholder approval requirements of MI 61 -101 by virtue of the exemption
contained in Section 5.7(1)(a) as the value of the Units did not exceed 25% of the Compa ny’s market
capitalization.
Advertising Agreement
The Company also announces that it has entered into An advertising agreement dated December 21, 2022
(the “Agreement”) with Gold Standard Media, LLC and their affiliates (the “Advertiser”), pursuant to which
the Advertiser has agreed to provide services including creating landing pages, native ads, email market
and influencer endorsements in consideration for US$400,000 due on December 31, 2022. The term of
the Agreement is for a term of four months starting on January 9, 2023.
About Clarity
Clarity Metals Corp. is a Canadian mineral exploration project generator company focused on the
acquisition, exploration and development of precious and base metals projects. Clarity’s exploration
mandate is global and focused on countries with established legal and regulatory systems supporting
mining investment. The Company is based in Vancouver, British Columbia, and is listed on the CSE under
the symbol “CMET”.
Clarity recently entered into an option agreement to acquire 50% of the Lithium381 Project adjacent to
Allkem Limited’s (“Allkem”) James Bay Lithium feasibility stage project . See Clarity news release dated
December 7, 2022.
The Company was also recently assigned an option to acquire 100% of the Fecteau project located in the
prolific Abitibi gold belt adjacent to Osisko Mining’s Windfall project. See Clarity news release dated
November 22, 2022.
Additionally, Clarity has title on several early-stage projects in British Columbia and Newfoundland:
• Empirical Gold Copper Molybdenite Property (10,518 ha) – Lillooet, B.C.
• Tyber Gold Copper Silver Property (928 ha) – Southeast Vancouver Island, B.C.
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• Gretna Green Gold Copper Silver Property (1,331 ha) - Port Alberni, Vancouver Island, B.C.
• Harp Lake Nickel Property (3,452 ha) – Labrador, NL
• Eddies Cove MVT Property (450 ha) –NW Newfoundland
• Hare Bay Nickel Property (750 ha) –NW Newfoundland
To learn more about Clarity Metals Corp. and its projects please visit www.claritygoldcorp.com.
ON BEHALF OF THE BOARD
“James Rogers”
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: [email protected]
Website: www.claritygoldcorp.com
This news release contains forward-looking statements. All statements, other than statements of historical fact that
address activities, events or developments that the Company believes, expects or anticipates will or may occur in the
future are forward -looking statements. Forward- looking statements in this news release include statements
regarding: the exploration program on the Property; and the fact the Lithium381 property is a project with favourable
underlying geology adjacent to Allkem’s world class lithium deposit and that it hosts the same rocks and geological
structure. The forward -looking st atements reflect management’s current expectations based on information
currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ
materially from those discussed in the forward- looking statements including: that the Property may not host any
lithium at all or any commercially viable grades of lithium; that the Property may not host any lithium resources like
Allkem’s adjacent property; that the Company may not complete the exploration program on the Propert y as
proposed; adverse market conditions; and other factors beyond the control of the parties. Although the Company
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 their inherent uncertainty. Factors that could cause actual results or events to differ materially
from current expectations include general market conditions and other factors beyond the control of the Company.
The Company expressly disclaims any intention or obligation to update or revise any forward- looking statements
whether as a result of new information, future events or otherwise, except as required by appli cable law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the
contents of this press release.