Shareholders Approve All Matters at Arctic Fox Lithium Corp.’S Agm
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
April 11, 2023 Trading Symbol: CSE - AFX
FSE - 7N4
SHAREHOLDERS APPROVE ALL MATTERS AT ARCTIC FOX LITHIUM CORP.’S AGM
VANCOUVER, BRITISH COLUMBIA ( April 11, 2023) – Arctic Fox Lithium Corp. (CSE: AFX / FSE: 7N4)
(the “Company”) is pleased to announce that all matters presented at its Annual General Meeting ( “AGM”) of
shareholders held on Tuesday, April 4, 2023 at 10 am Pacific Time were approved.
All matters submitted to shareholders for approval as set out in the Company’s notice of AGM and Information
Circular, dated March 6, 2023, were unanimously approved by the votes cast at the meeting.
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 Kana Lake Lithium project is located north of the Fliszar Lithium showing in the Jam es 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 presen ce of garnet and muscovite in these rocks indicates a hyperaluminous
composition, 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% B*.
The Company’s 2,756 -hectare Pontax North Lithium Project is located 12 km south of Allkem Ltd.
(ASX/TSX:ALLKEM) (“Allkem”) James Bay Lithium Project an d 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 claims within the northern portion of this property 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) 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, desp ite 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 and Maiden Ore Reserve (“FS”) details a 321 ktpa
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 opera tion 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 21.39m grading 1.16% Li2O in drill hole 975-17-0142.
References to adjacent properties:
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
12 km North: Allkem Ltd. James Bay2 Lithium:
https://www.allkem.co/projects/james-bay
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: the future potential of and the 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
uncertainty with respect to the results of future exploration and the ability to conduct any exploration activit ies 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 numbe r of assumptions including, among other things, assumptions regarding general business and
economic conditions; and the ability to conduct anticipated exploration activities . 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.