High Level Independent Review of Arctic Fox Lithium Corp.’S Properties IN the James BAY Region of Québec
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
September 11, 2023 Trading Symbol: CSE - AFX
FSE – O5K
HIGH LEVEL INDEPENDENT REVIEW OF ARCTIC FOX LITHIUM CORP.’S PROPERTIES
IN THE JAMES BAY REGION OF QUÉBEC
VANCOUVER, BRITISH COLUMBIA ( September 11, 2023) – Arctic Fox Lithium Corp. (CSE: AFX / FSE:
O5K) (the “Company”) is pleased to announce that Resource Potentials Pty Ltd. ( “Respot”) has completed a
high level review of the Company’s properties in the James Bay region of Québec. Respot is a consulting firm
based in Perth, Australia, that specializes in geophysical survey design, budgeting, contracting, acquisition and
quality control, data processing-modelling, data inversion, data integration, interpretation and drill hole targeting.
The Company commissioned Respot to provide a high-level independent report on its holdings in the James Bay
region of Québec which was authored by Mr. John Sinnott , a senior consulting geophysicist at Respot. Some of
the highlights of the report are as follows:
Independent review confirms high potential for Lithium -Caesium-Tantalum (“LCT”) pegmatites to
be present at the Company’s Delta Lake and Kana Lake projects, with lower potential at its Pontax
North project;
The Delta Lake and Kana Lake p roject areas have a favorable regional geological setting of east to
west trending Archean greenstone belts and regional scale fault structures, favourable age of granite
intrusions surrounding the greenstone at around 2.65 billion years old, an d proximity to LCT
pegmatite occurrences and deposits;
Multiple preliminary target areas have been outlined using publicly available aeromagnetic and
remote sensing data sets, and rock sample and geological mapping data from SIGÉOM (a geomining
information system with unique spatial reference made publicly available by the Ministry of Natural
Resources and Forestry of Québec) identifying potential pegmatites;
Many potential pegmatite target areas have coincident magnetic lows which indicates pos sible
pegmatite intrusions crossing the magnetic greenstone units and extending at depth;
Independent review also confirms the Company’s exploration pathway including LiDAR digital
elevation surveying, high-resolution airborne magnetic and radiometric geophysical surveying, and
surface geological mapping and sampling to explore for LCT pegmatites and generate drilling
targets.
Mr. Ross Brown, Special Adviser to the Board of Directors of the Company, commented: “ Regional to project
scale geology and geophysics have combined to confirm high potential for LCT pegmatites in the Company’s
project areas. We have multiple potential granitic pegmatite occurrences with unknown lithium mineral content
mapped by government geologists, many of which have coinci dental magnetic low signatures. This indicates the
potential for extensions of pegmatite dykes below surface in all project areas . Our upcoming field exploration
and LiDAR digital elevation survey will test surface exposures at these rapidly evolving target areas.”
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 5,716 hectare Kana Lake Lithium project (“Kana Lake”) is located north of the Fliszar Lithium
showing in the James Bay region of Québec. During a summer to fall 2022 field survey program conducted by
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
the Québec Ministère de l’Énergie et des Ressources Naturelles ( “MERN”), their geologists identified this area
as a new lithium prospective zone that is characterized by the presence of numerous east-west trending granitic
pegmatitic dykes. The presence of garnet and muscovite in these rocks indicates a hyperaluminous compositi on,
suitable for the development of lithium mineralization. These pegmatites are consistent with the Fliszar Lithium
showing to the south of the property , which three grab samples rich in lepidolite returned up to 1.83% LiO2,
0.34% Cs, 1.11% Rb, 126 ppm Nb, 374 ppm Ta and 0.3% Be*.
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 contains 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) 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 usually formed in granitic pegmatites ) is reported in
several outcrops within this zone. The Property is known to contain a 10 km long pegmatite trend mapped by
MERN. This trend appears to be underexplored, despite its recognized lithium potential. Swarms of lithium -
bearing granitic dykes are present 12 km to the north of the Property at Allkem’s Cyr showing and at Stria
Lithium’s Pontax showing located 12 km to the south.
Allkem is proposing to develop a lithium mine at their James Bay Lithium Pr oject, located adjacent to the Billy
Diamond Highway, which provides access to key infrastructure in the region. The Allkem 2021 Feasibility Study
and Maiden Ore Reserve (“FS”) details a 321 tonne per year spodumene operation utilizing conventional open pit
mining. Allkem’s 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 Project. The FS suggests that James Bay Project
will be the most competitive operatio n 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 published 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 minimum of 1.0 m (Stria Lithium web site). The best intercept was 21.39 m grading 1.16% Li2O in
drill hole 975-17-0142.
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 and dated January 11, 2022.
12 km South: Stria Lithium Inc. (Pontax Lithium Project):
https://strialithium.com/exploration/pontax-project/
The Company’s 1,056 hectare Delta Lake Lithium project (“Delta Lake”) is located 55 km southeast of Allkem’s
James Bay Lithium Project and 20 km north of Critical Elements Lithium Corp. (TSXV: CRE) (“ CEL”) Rose
Lithium Project.
The geological environment in the northwestern portion of Delta Lake is similar to that hosting Allkem’s lithium
mineralization. According to the Québec Ministère de l’Énergie et des Ressources Naturelles (“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 is reported in several outcrops within this zone.
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Allkem is proposing to develop a lithium mine at their James Bay Lithium Project, located 55 km to the northwest
and adjacent to the Billy Diamond Highway , which provides access to key infrastructure in the region. The 2021
Allkem Feasibility Study and Maiden Ore Reserve (“ FS”) details a 321 ,000 tonne per year operation utilizing
conventional open pit mining. Allkem’s 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 Project. The FS suggests that
James Bay Project will be the most competitive operation in the region with low capital and operating costs.
Shallow, high-grade mineralization with favourable infrastructure also supports the low -cost operation. Allkem
has published a mineral resource estimate of 40.3 Mt @1.40% Li2O (FS summary here) and mineralization is still
open.
CEL’s Rose Lithium-Tantalum mine located 20 km to the south is anticipated to start production in approximately
21 months. The mine will excavate a total of 26.3M tonnes ore grading an average of 0.87% Li 2O and 138 ppm
Ta2O5 after dilution. The mill will process 1.61M tonnes of ore per year to produce an annual average of 224,686
tonnes of technical and chemical grade spodumene concentrates and 441 tonnes of tantalite concentrate. The ore
is contained in several parallel and continuous shallow dipping pegmatite dykes outcropping on surface. The ore
zones are open at depth and a future underground operation is possible. Over the life of mine, the open pit will
excavate a total of 182.4M tonnes of waste rock and 10.9 M tonnes of overburden. The average strip ratio is 7.3
tonnes of waste per tonne of ore. (CEL website).
References to adjacent properties:
55 km Northwest: 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 and dated January 11, 2022.
20 km South: Critical Elements Lithium Corp. Rose Lithium-Tantalum:
The technical report entitled “Rose Lithium -Tantalum Project Feasibility Study NI 43 -101 Technical Report”
prepared by WSP Canada Inc. and dated July 26, 2022.
* 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.
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.
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
Twitter: https://twitter.com/arcticfoxLi
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YouTube: https://www.youtube.com/@arcticfoxlithium
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 o r 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: the significance and interpretation of the
Respot report 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 uncertainty with resp ect to the results of future
exploration and the ability to conduct any exploration activities on the propert ies described in this press release; market prices; disruptions relating to the
COVID-19 pandemic; 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; that the future exploration work
described in this p ress release will be completed as anticipated or at all; and that the Company will have sufficient resources, financial and otherwise, to
conduct future exploration on its properties. 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.