Frontier Lithium Announces Board Appointment
FRONTIER LITHIUM ANNOUNCES BOARD
APPOINTMENT
SUDBURY, ON
,
Feb. 7, 2022
/CNW/ - Frontier Lithium Inc. (TSXV: FL) (OTCQX: LITOF) ("Frontier"
or "the Company") is pleased to announce that its Board of Directors (the "Board") has approved the
appointment of Ms.
Tess Lofsky
to the Board as an independent director replacing Mr.
Bruce Barker
effective
February 7, 2022
.
“I am very pleased to join Frontier Lithium’s Board of Directors. As the Company continues to make
progress in its drill and metallurgical programs in furtherance of its Pre-Feasibility Study, it is
demonstrating the potential of this impressive deposit in Northern Ontario to become a domestic
producer for the growing battery metals sector.” said Ms. Lofsky. (CNW Group/Frontier Lithium Inc.)
"We want to thank
Bruce Barker
for his contribution and dedication to our Board over the past
several years and are pleased he will continue to support the Company through his role on the
Advisory Board" said Mr.
Rick Walker
, Chairman of Frontier Lithium. "We are delighted to welcome
Tess Lofsky
to our Board. Tess' focus on Corporate and securities law, governance and regulatory
compliance will help us as we continue to grow our business and deliver value."
Ms. Lofsky is a business focused, legal executive and Board member with considerable experience
in the mining industry. Her understanding of Corporate and securities law, governance, and
compliance were developed over 15 plus years of practising law. Prior to her role as Senior Legal
Counsel and Corporate Secretary for Bird Construction (TSX:BDT), Ms. Lofsky served as Legal
Counsel & Corporate Secretary for the Greater Toronto Airports Authority and Vice President,
General Counsel & Corporate Secretary of North American Palladium Ltd. At North American
Palladium, she provided advice and counsel on a broad range of public company matters including
corporate finance and M&A, as well as with respect to environmental, labour and employment,
health and safety and indigenous law matters related to their portfolio of assets including mine
operations and exploration properties in
Ontario
and
Quebec
. Ms. Lofsky received a Bachelor of
Social Sciences degree from the
University of Ottawa
and a Bachelor of Laws from
Queens
University
.
"I am very pleased to join Frontier Lithium's Board of Directors. As the Company continues to make
progress in its drill and metallurgical programs in furtherance of its Pre-Feasibility Study, it is
demonstrating the potential of this impressive deposit in
Northern Ontario
to become a domestic
producer for the growing battery metals sector." said Ms. Lofsky.
Other Matters
The Company also announces that pursuant to its "Stock Option Plan" it has granted 1,000,000
stock options, to certain employees, officers and directors. The options are set for a period of five
years, expiring on February 7, 2027. The options are priced at $2.71 and are subject to regulatory
approval.
About Frontier Lithium Inc.
Frontier Lithium is a preproduction business that is targeting to become a manufacturer of battery-
quality lithium materials to support electric vehicle and battery supply chains in
North America
.
Frontier owns the PAK lithium project, which contains one of
North America's
highest-grade, large-
tonnage hard-rock lithium resources in the form of a rare low-iron spodumene. The project continues
to have significant exploration upside with potential to increase the lithium resource. The company is
a pure-play lithium development opportunity with the largest land position in the Electric Ave., a
premium lithium mineral district located in
Northern Ontario
.
About PAK lithium project
The PAK lithium project contains a tier one lithium resource in
North America
and is one of the global
top three premium resources by quality. A 2021 preliminary economic assessment (National
Instrument 43-101 technical report titled "Pak property" by BBA Engineering Ltd., issued on
April 5,
2021
) delivered a fully integrated lithium operation from the resource to achieve downstream
conversion plan for production of battery-quality lithium salts. The study resulted in an after-tax net
present value (discounted at 8 per cent) of
$974-million
(U.S.) with a 21-per-cent internal rate of
return. The project encompasses 26,774 hectares at the south end of
Ontario's
Electric Ave., the
largest land package hosting premium lithium-bearing pegmatites in
Ontario
. The project is
supported by a measured and indicated resource of 10.49 million tonnes (Mt) averaging 1.78 per
cent lithium oxide and inferred resource of 18.48 Mt averaging 1.45 per cent Li
2
O. The project
covers 65 kilometres of the Electric Avenue's length and remains largely unexplored; however, since
2013, the company has delineated two premium spodumene-bearing lithium deposits (PAK and
Spark), located 2.3 kilometres apart. Considerable exploration upside is supported on the PAK
lithium project through two other spodumene-bearing discoveries: the Bolt pegmatite (located
between the PAK and Spark deposits), as well as the Pennock pegmatite (30 kilometres northwest
of PAK deposit within the project claims).
SOURCE
Frontier Lithium Inc.
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%SEDAR: 00008434E
CO: Frontier Lithium Inc.
CNW 17:39e 07-FEB-22