Foremost Lithium Significantly Increases its Footprint on its Snow Lake Lithium by an additional 14,873 Acres or 130% with Acquisition of The Grass River Claim Block – Including Seven drill-indicated Spodumene-bearing Pegmatite Dykes. Foremost is Now The
Foremost Lithium
Significantly
Increases its
Footprint
on its
Snow Lake
Lithium
by an additional
14,873
Acres
or 130%
with
Acquisition
of
The
Grass River Claim
Block
–
Includ
ing
Seven
drill
-
indica
t
ed
Spodumene
-
bearing Peg
matite Dykes
.
Foremost is
N
ow
The Largest
Lithium
-
Focused
Exploration Company in
T
he
Snow Lake District of Manitoba.
Vancouver British Columbia
, January
20
, 202
2
,
Foremost Lithium
Resource &
Technology
(CSE:FAT)(OTC Pink:FRRSF)
(FSE:F0R
0
)
(www.foremostlithium.com)
(“
Foremost
” or the “Company”)
is
pleased to announce
the
acquisition of
The Grass
River Claim
s
,
located
in the historic mining district of
Snow Lake Manitoba
,
6.5
kilometers
east of the Zoro
lithium
property
. The Grass River
Claims
(
“
GRC
”
)
consist of
27 claims totaling 14,873 acres and
hosts
multiple
pegmatites
exposed
in
outcrop and
7
drill
-
indicated spodumene
-
bearing pegmatite
d
yke
s
. This acquisition significantly
expands the
Company’s Snow Lake
Lithium project by
130%
to
an amalgamated
26,276
acres
making Foremost the largest lithium exploration company in Snow Lake.
Th
e location of the
newly staked
GRC
C
laim
Block
and the Zoro and Jean Lake
Lithium
properties
are
illustrated in Figure
1 below:
Figure
1
-
Foremost Lithium Snow Lake District Claim Map showing
the
Jean Lake, Zoro
,
and the GRC Assets
. Foremost now
controls
an amalgamated 26,276 acres.
Figure
2
below
details the location of
the
seven
(7) historically
drill
-
intercepted
spodumene
-
bearing pegmatites
.
Dr. Mark Fedikow
, Foremost Lithium’s QP,
review
ed
regional historical drill and exploration data
in the Cancelled Assessment
F
iles of the
Manitoba Mining Recorder
going back to the late 1950’s and
documented
multiple
drill
-
indicated
spodumene
-
bearing pegmatite dykes
on the GRC
.
Spodumene
-
bearing
pegmatite on
the Grass
River Claims, the
Zoro
property
, the Jean Lake property and
o
ther lithium pegmatites in the general area such as those within the Thompson
Brothers Lithium Trend are spatially associated with the
regionally extensive
Crowduck
Bay Fault.
Figure
2
-
Focused map of the CRG claim block with exposed pegmatites in red and historic drill holes depicted with black dots.
T
he
location
of
exposed
pegmatite in the northwest corner of the GRC claims
a
nd
several large and undrilled pegmatites elsewhere on the
property
are also
reflected
in
Figure 2
.
The Company’s plans
include
moving forward with
significant working
-
capital
and
utilizing
modern geophysical and geochemical technologies to supplement boots
-
on
-
the
-
ground prospecting
to
further explore the GRC spodumene
-
bearing pegmatite
dykes. Modern exploration on the GRC pegmatites has not been undertaken in more
than 60 years.
Foremost
Lithium
will commence e
xploration o
n
the
GRC
once
the
snow has melted
and will proceed as follows:
1.
First pass prospecting of
outcrop
areas on the claim block focusing on known
pegmatite
;
2.
EarthEx
D
rone
-
A
ssisted
M
agnetic
S
urvey
. This is the
identical
technology the
Company recently applied to
the
Jean Lake
property
to define the 3D extent
and
magnetic
sig
nature of the
high
-
grade
spodumene
-
bearing Beryl
pegmatite d
y
kes
;
3.
Surficial geochemical surveys including
Mobile Metal Ions
.
MMI Technology
is
the same soil geochemi
cal
technology
utilized
by Foremost
on
the
Zoro
property
to delineate new drill
targets
and discover
ed
high
-
grade spodumene
-
bearing Dyke 8
4.
Identify
and drill
specific
high
-
value
targets
defined by
integrating
historic and
new
exploration
data
sets
Scott Taylor
,
President & CEO
of Foremost Lithium adds
“
I woke up this morning with a
big smile as I see this as a phenomenal opportunity to significantly increase the tonnage
of our lithium resource,
and deliver shareholder value
.
The
acquisition of the
Grass
River Claims
is
an
130
% increase
in
Foremost Lithium’s
ground
position
in Snow La
ke,
and
a material
increase in
the number of
his
torically
drill
-
indicated spodumene bearing
pegmatite dykes
on our property
.
I would
also
like to
personally express my most
sincere gratitude to our team: Dr. Mark Fedikow, Jake Z
iehlke
Todd McCra
c
ken, and
Brad Gogal (Gogal Air Services) who all worked tirelessly over the holidays in harsh
winter
conditions to stake and register these claims with the Manitoba Min
ing Recorder
.
Without such
valuable and valiant team effort
s,
we couldn’t
continue to de
liver such
milestone moments for our company and shareholders.”
Rystad
recentl
y
indicated the price for lithium carbonate for batteries in China of
300,000 yuan
per
ton
ne
, nearly 43% higher than the previous month’s 210,000, and an
increase for
lithium hydroxide from 192,000 to 290,000 yuan
,
with lithium carbonate
price
rising 43% in China month over month
. The Gl
obal adoption of electric vehicles is
accel
erating and with this announcement of
the
acquisition of The
Grass River Claim
s
in
Snow Lak
e
Manitoba,
Foremost Lithium continues to
position
itself
as a contender in the
lithium exploration landscape
.
Technical information contained in the press release has been approved by
the
Company’s VP of Exploration,
Dr. Mark Fedikow,
, P.Eng., P.Geo
, who is a “Qualified
Person” within the meaning of National Instrument 43
-
101
Standards of Disclosure for
Mineral P
rojects
.
Dr. Fedikow holds Honours B.Sc. and M.Sc. degrees in geology,
geophysics and geochemistry from the University of Windsor (Canada) and a Ph.D. in
exploration geochemistry from the School of Applied Geology, University of New South
Wales in Sydney (
Australia).
Coincidentally the Company would like to announce
the following executive
appointments:
-
Dr Mark Fedikow had been promoted to VP of Exploration
-
Andrew Lyons has
been appointed as Chief Financial Officer
-
Pierre
-
Yves Tenn has been appointed as
C
hief Global Officer.
About
Foremost Lithium
Foremost Lithium is an energy tech company driven to being one of the first North
American Companies committed to produce high quality battery
-
grade lithium hydroxide
domestically to fuel the electric
vehicle battery market.
Given
the
importance
and
global
focus
on
increasing
energy
decarbonization,
especially
when
it
comes
to
vehicles,
The
Company
is
hyper
-
focused
in
continued
exploration
and
growth
on
its
three
lithium
properties,
Jean Lake and Zoro l
ocated in Snow Lake, Manitoba, and Hidden Lake in
the Northwest Territories.
Foremost Lithium also holds assets in precious commodities
with its Winston Gold/Silver Project in New Mexico, USA.
Scott Taylor
President and CEO
Foremost Lithium Resource
&
Technology
scott.
1 604 330
-
8067
The Canadian Securities Exchange has neither approved nor disapproved the contents of this
news release and accepts no responsibility for the adequacy or accuracy hereof
.
Forward Looking Statements
All statements in this press release, other than statements of historical fact, are "forward
-
looking
information" with respect to Foremost within the meaning of applicable securities laws.
Foremost provides
forward
-
looking statements for the purpose of conveying information about
current expectations and plans relating to the future and readers are cautioned that such
statements may not be appropriate for other purposes. By its nature, this information is sub
ject
to inherent risks and uncertainties that may be general or specific and which give rise to the
possibility that expectations, forecasts, predictions, projections or conclusions will not prove to
be accurate, that assumptions may not be correct and tha
t objectives, strategic goals and
priorities will not be achieved. These risks and uncertainties include but are not limited to market
conditions, exploration findings, results and recommendations, as well as those risks and
uncertainties identified and re
ported in Foremost’s public filings under Foremost’s SEDAR
profile at www.sedar.com. Although Foremost has attempted to identify important factors that
could cause actual actions, events or results to differ materially from those described in forward
-
looki
ng
information, there may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that such information will prove
to be accurate as actual results and future events could differ mat
erially from those anticipated
in such statements. Foremost disclaims any intention or obligation to update or revise any
forward
-
looking information, whether as a result of new information, future events or otherwise
unless required by law
.