Arctic Fox Lithium Corp. Engages Noranda Royalties to Compile Data ON Its Lithium Properties IN the James BAY Region of Quebec
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
March 27, 2023 Trading Symbol: CSE - AFX
FSE - 7N4
ARCTIC FOX LITHIUM CORP. ENGAGES NORANDA ROYALTIES TO COMPILE DATA ON
ITS LITHIUM PROPERTIES IN THE JAMES BAY REGION OF QUEBEC
VANCOUVER, BRITISH COLUMBIA ( March 27, 2023) – Arctic Fox Lithium Corp. (CSE: AFX / FSE: 7N4)
(the “ Company”) is pleased to announce that it has engaged Noranda Royalties (“Noranda”) to compile
geological data on its Kana Lake and Pontax North Lithium projects in the James Bay region of Quebec. Noranda
is an innovative and passionate mineral exploration services entity. Noranda offers a wide range of services, from
creating assets from the earliest stages to project management. The compilation of data will be a follow up to
previous work done by the Quebec Ministère de l’Énergie et des Ressources Naturelles ( “MERN”). The work
done by Noranda is anticipated to provide details on the pegmatite outcrops, rock samples and any similarities t o
other discoveries in the area.
Mr. Gary Claytens, Strategic Advisor to the Company , commented: “ The information that we will be provided
once Noranda has completed their work will hopefully help us to better understand the geology of our projects
and compile data that MERN has previously made publicly available. This geological data compilation will be
invaluable to the Company as it plans its future exploration programs.”
About Kana Lake
The Kana Lake Lithium project is located north of the Fliszar Lithium showing in the James Bay region of
Quebec. During a summer/fall 2022 survey program conducted by MERN their geologists identified this area as
a new lithium prospective zone that is characterized by the presence of numerous E-W trending pegmatitic granite
dykes. The presence of garnet and muscovite in these rocks indicates a hyperaluminous compositio n, suitable for
the development of lithium mineralization. These pegmatites are consisten t with the Fliszar Lithium showing to
the south of the property which three grab samples rich in l epidolite, returned up to 1.83% LiO2, 0.34% Cs,
1.11% Rb, 126 ppm Nb, 374 ppm Ta and 0.3% B*.
About Pontax North
The 1,803-hectare Pontax North Lithium Proj ect is located 12 km south of Galaxy Resources Ltd. (ASX:GXY)
now 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 e ast of
James Bay and the Cree Nation’s Eastmain community.
The claims within the northern portion of the property contains a lithium prospective zone in a similar geological
environment to Allkem’s project. According to MERN this zone is characterized by the abundance of S -type
pegmatitic granite intrusions, a lithology known for its Be, Li, Nb, and Ta potential. Beryl (a beryllium silicate
mineral) is reported in several outcrops within this zone. The Property is known to co ntain 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
showing and at Stria Lithium’s Pontax showing 12 km to the south.
Allkem is proposing to develop a lithium mine at their James Bay Lithium Project, located adjacent to the
Billy Diamond Highway which provides access to key infrastructure in the region. The 2021 Feasibility
Study (“FS”) details a 330 ktpa spodumene operation utilizing conventional open pit mining. Allkem’s
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
spodumene expertise from the success of its Mt. Cattlin operations in Western Australia has been applied to
the design and development of the James Bay Projec t. The FS suggests that James Bay Project will be the
most competitive operation in the region with the lowest capital and operating costs. Shallow, high -grade
mineralization with favourable infrastructure also supports the low -cost operation. Allkem has p ublished a
mineral resource estimate of 40.3 Mt @1.40% Li2O (FS summary here) and mineralization is still open.
Stria launched its first full drilling program at its Pontax project in 2017, completing seven holes for a total
of 911.4 m. All seven holes intersected spodumene - bearing pegmatite dykes grading from 0.65% Li2O to
2.49% Li2O over a mini mum of 1.0 m ( Stria Lithium web site ). The best intercept was 21.39m grading
1.16% Li2O in drill hole 975-17-0142.
References to adjacent properties:
12 km North: Galaxy Lithium James Bay2 Lithium:
https://gxy.com/james-bay-2/
12 km South: Stria Lithium Inc. (Pontax Lithium Project):
https://strialithium.com/projects/pontax-project/
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.
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.
* 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 Gerald G. Carlson, Ph.D., P.Eng.,
Director of Arctic Fox and Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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 data compilation
described in this pres s release; and the future potential of 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 data compilation work 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, assumptions regarding general business and
economic conditions; in order to conduct anticipated exploration activities ; and that the data compilation work described in this press release will be
completed as anticipated. Investors are cautioned that any such statements are not guarantees of future performance 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.