Frontier Lithium Announces Stephen J.J. Letwin as Director
Frontier Lithium Announces Stephen J.J.
Letwin as Director
SUDBURY, ON
,
Sept. 23, 2020
/CNW/ -
Frontier Lithium Inc.
(TSXV: FL)
(the "Company" or
"Frontier")
is pleased to announce that, effective immediately, it has appointed Mr.
Stephen J.J.
Letwin
to its Board of Directors.
Stephen J.J. Letwin (CNW Group/Frontier Lithium Inc.)
"We welcome Mr. Letwin to Frontier's Board of Directors. He is a grounded person and an
appreciable addition with over 30 years of impressive operating and financial experience in the
resource industry," stated the Company Chair
Reginald (Rick) Walker
. "We are looking forward to
working with Steve as he will significantly aid Frontier as we work toward building a fully integrated
lithium mining and chemical company."
Mr. Letwin commented "I am thrilled to be joining Frontier Lithium's Board of Directors and recognize
the Company's quality lithium assets. I am enthused about its potential to supply critical materials
required by clean tech and an emerging global energy transition. This is an exciting time."
In
February 2020
, Mr. Letwin was appointed President and CEO of Mancal Corporation. Prior to
Mancal, Mr. Letwin was President and CEO of IAMGOLD Corporation for ten years and was also a
member of their Board of Directors. In 2018, Mr. Letwin, was recognized as the North American
Mining Executive of the Year at the Mines & Money Outstanding Achievement Awards. Under his
leadership, IAMGOLD and Sumitomo Metal Mining Co. was awarded the 2018 Viola R. Macmillan
Award from the Prospectors and Developers Association of
Canada
(PDAC) for demonstrating
leadership in the financing and management of one of
Canada's
largest undeveloped gold projects.
Prior to joining IAMGOLD, Mr. Letwin was previously with Enbridge Inc. in
Houston, Texas
, as
Executive Vice President, Gas Transportation & International. He was responsible for natural gas
operations including overall responsibility for Enbridge Energy Partners as Managing Director.
Before Enbridge, he was President & CEO of TransCanada Energy and CFO of TransCanada
Pipelines, Numac (Westcoast Energy), and Encor Energy.
Currently, Mr. Letwin is a Director of Hess Midstream (2018) and of Margaux Resources. Mr.
Letwin holds an MBA from the
University of Windsor
, is a Certified General Accountant, a graduate
of
McMaster University
(B.Sc., Honours), and a graduate of the Harvard Advanced Management
Program. Throughout his career Mr. Letwin has made significant contributions to North American
resource development and volunteerism whereby some of his achievements have been recognized:
Alberta Centennial Award (2006), L'officer de l'ordre national –
Burkina Faso
(2011), Queen
Elizabeth II Diamond Jubilee Medal (2016), and Order of the Yellow Star Medal - Suriname (2018).
Other Matters
The Company also announces that pursuant to its "Stock Option Plan" it has granted 5,450,000
stock options to certain employees, officers, directors and consultants. The options are set for a
period of five years, expiring on
September 23, 2025
. The options are priced at
$.25
and are subject
to regulatory approval.
About Frontier Lithium Inc.
Frontier Lithium is a
Sudbury
based, publicly listed, junior mining company with the largest land
position in an emerging premium lithium mineral district located in the Great Lakes region of northern
Ontario
. The company maintains 100% interest in 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 has significant upside exploration potential. Frontier is a pre-production
business that has recently commenced a
Preliminary Economic Assessment study
targeting the
manufacturing of battery quality lithium hydroxide in the Great Lakes Region to support electric
vehicle and battery supply chains in
North America
. Frontier maintains a tight share structure with
management ownership approximately 30% of the Company.
About the PAK Lithium Project
The PAK Lithium Project encompasses 26,774 hectares at the south end of
Ontario's
Electric
Avenue, which is the largest land package hosting lithium bearing pegmatites in
Ontario
. The Project
covers 65km of the Avenue length and remains largely unexplored; however, since 2013 the
company has delineated two premium spodumene bearing lithium deposits located 2.3 km from each
other at the southwestern end of the project. Recently, Frontier confirmed the presence of
spodumene with the Pennock Lake pegmatite occurrence a further 30km along Frontier's PAK
Lithium Project. Frontier's premier Great Lakes location is advantaged by favorable geology, proven
metallurgy with access to intermodal hubs, infrastructure, power, and mining and downstream lithium
processing expertise.
The PAK deposit has a mineral reserve in the proven and probable categories of 5.77 MT averaging
2.06% Li
2
O. The deposit hosts a rare technical/ceramic grade spodumene with low inherent iron
(below 0.1% Fe
2
O
3
). The Spark Deposit, winner of the "2019 Discovery of the year award" has a
mineral resource estimate of 3.2 MT averaging 1.59% Li
2
O (indicated) and 12.2 MT averaging
1.36% Li
2
O (inferred), as per the NI 43-101 Technical Report, "PAK prefeasibility study, Spark
resource estimation" by WSP Canada Inc. and Nordmin Engineering Ltd., updated on
March 23,
2020
. The Company recently initiated a Preliminary Economic Assessment study for a fully
integrated project producing lithium hydroxide from the PAK Lithium Project.
Forward-looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release. 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
future production, reserve potential, exploration drilling, exploitation activities and events or
developments that the Company expects are forward-looking statements. Although the Company
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 in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward looking statements include market
prices, exploitation and exploration successes, continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that any such statements
are not guarantees of future performance and those actual results or developments may differ
materially from those projected in the forward-looking statements. For more information on the
Company, Investors should review the Company's registered filings available at
sedar.com
SOURCE
Frontier Lithium Inc.
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For further information:
Company Contact Information: Bora Ugurgel, Manager, Investor
Relations, 2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA, T. +001 705.897.7622, F. +001
705.897.7618
CO: Frontier Lithium Inc.
CNW 16:30e 23-SEP-20