Avalon Outlines Strategic Direction and Provides Update on 2023 Activities
Avalon Outlines Strategic Direction and
Provides Update on 2023 Activities
Toronto, Ontario--(Newsfile Corp. - May 15, 2023) -
Avalon Advanced Materials Inc.
(TSX: AVL)
(OTCQB: AVLNF) ("Avalon" or the "Company"), a lithium-focused mineral development company
advancing critical mineral projects to support the North American clean technology supply chain, is
pleased to outline Avalon's strategic direction and provide an update on key 2023 activities.
Recent Highlights
Appointment of Zeeshan Syed as President, to lead the Company's growth and commercial
strategy, and Rickardo Welyhorsky as COO, to lead key project initiatives and development work
related to the Company's lithium portfolio.
Completion of 2022-2023 drill program at Separation Rapids, with recently announced drill results
highlights (assays from four holes are still pending - see news release dated May 4, 2023).
Preparation of further exploration plans in 2023, which will include drilling the Snowbank target
(6km northwest of flagship Separation Rapids), continue drilling at Separation Rapids and Lilypad.
Additional baseline environmental study work underway.
Ongoing lithium hydroxide conversion test work being conducted by a major technology group
using innovative process technology.
Discussions with various engineering firms in preparation of a definitive feasibility study on
Separation Rapids.
"Avalon's new strategic direction, and the key to unlocking shareholder value, focuses on advancing
Separation Rapids through continued exploration and project development work," commented Zeeshan
Syed, President of Avalon. "Accelerated growth within our entire lithium portfolio will position the
Company as a substantial contributor to the North American critical minerals sector. Importantly, this
mandate is supported by plans to assemble an execution-focused team of professionals at the
corporate and Board level."
Focused on Lithium Growth
Avalon's new strategy is focused on organic growth of its lithium portfolio, as well as finding strategic
growth opportunities in the region. Growth at Separation Rapids will be advanced through drilling and
project permitting work.
Planned activities in H2 2023 will comprise of exploration work across all lithium projects including:
Separation Rapids - continue with deeper drill program to further test the extensions of the deposit.
Snowbank - previous exploration includes sample assays of up to 2.51% Li
2
O over 1.1 metres,
indicating that petalite comprises approximately 50% of the mineral content in the rock sampled.
Lilypad - shows lithium samples at greater than 1% Li
2
O occurring primarily in spodumene in three
separate occurrences. Avalon plans to initiate a drill program on select targets at Lilypad.
Development Initiatives
Further baseline test work continues this year to thoroughly understand and de-risk the site in
preparation for future development and production activities, with a plan to submit the permitting
application in late 2023. In addition, early discussions and a draft study are underway for a powerline to
site.
Lithium Conversion Facility
The proposed lithium hydroxide conversion facility is an important part of Avalon's growth strategy.
Future activities include:
finalizing the purchase of an industrial property located in Thunder Bay, Ontario;
advancing commercial and financing discussions with various parties, the provincial and federal
government, and with downstream parties interested in supporting the project; and
completing test work to demonstrate the conversion of petalite and lepidolite concentrate into a
lithium hydroxide product.
Community and Indigenous Engagement
Avalon looks to build upon a foundation of partnership with indigenous communities and seeks to
elevate all forms of communication, partnerships and opportunities. Initial work has begun on community
engagement and planning sessions with Indigenous groups. The Company's discussions will include
participation from various groups and include former six term Chief of the Eabametoong First Nation,
Harvey Yesno, who also serves as a director on Avalon's Board.
Dr. Bill Mercer, P. Geo. (ON).
is a qualified person for the purposes of National Instrument 43-101 and
has reviewed and approved the technical information included in this news release.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in
sustainably-produced materials for clean technology.
Avalon is currently focusing on developing its
Separation Rapids Lithium Project near Kenora, Ontario while continuing to advance other projects,
including its 100%-owned Lilypad Spodumene-Cesium-Tantalum Project located near Fort Hope,
Ontario. Social responsibility and environmental stewardship are corporate cornerstones.
For questions and feedback, please e-mail the Company at
, or phone Zeeshan
Syed, President, directly at (647) 300-4706.
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-
looking statements include, but are not limited to, project work plans including future drilling, testwork,
environmental work and contracting, that accelerated growth within our entire lithium portfolio will position
the Company as a substantial contributor to the North American critical minerals sector, that Avalon's
new strategy is focused on organic growth of its lithium portfolio, that growth at Separation Rapids will be
advanced through drilling and project permitting work, that planned activities in H2 2023 will comprise of
exploration work across all lithium projects, that further baseline test work continues this year to
thoroughly understand and de-risk the site in preparation for future development and production
activities, with a plan to submit the permitting application in late 2023, that the proposed lithium
hydroxide conversion facility is an important part of Avalon's growth strategy, and that future activities
include finalizing the purchase of an industrial property located in Thunder Bay, Ontario, advancing
commercial and financing discussions with various parties, the provincial and federal government, and
with downstream parties interested in supporting the project, and completing test work to demonstrate
the conversion of petalite and lepidolite concentrate to a lithium hydroxide product, that Avalon looks to
build upon a foundation of partnership with indigenous communities and seeks to elevate all forms of
communication, partnerships and opportunities.
Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as "potential", "scheduled", "anticipates",
"continues", "expects" or "does not expect", "is expected", "scheduled", "targeted", "planned", or
"believes", or variations of such words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be" or "will not be" taken, reached or result, "will occur" or "be
achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Avalon to be
materially different from those expressed or implied by such forward-looking statements. Forward-
looking statements are based on assumptions management believes to be reasonable at the time such
statements are made. Although Avalon has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual
results to differ materially from expected results described in forward-looking statements include, but are
not limited to market conditions, and the possibility of cost overruns or unanticipated costs and expenses
as well as those risk factors set out in the Company's current Annual Information Form, Management's
Discussion and Analysis and other disclosure documents available under the Company's profile at
www.SEDAR.com
. There can be no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Such forward-
looking statements have been provided for the purpose of assisting investors in understanding the
Company's plans and objectives and may not be appropriate for other purposes. Accordingly, readers
should not place undue reliance on forward-looking statements. Avalon does not undertake to update
any forward-looking statements that are contained herein, except in accordance with applicable
securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/166039