Frontier Lithium Expands Leadership Team with CFO
Frontier Lithium Expands Leadership Team
with CFO
SUDBURY, ON
,
April 19, 2022
/CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX:
LITOF) (the "Company" or "Frontier") is pleased to announce appointment of Mr. Tony (Ming Wei)
Zheng CPA, CA, CGA as Chief Financial Officer (CFO) to its executive team. Mr. Zheng is a
Chartered Professional Accountant with over 11 years of experience in finance, risk management,
corporate strategy, mergers, and acquisitions, with international precious and base metals
companies.
"On behalf of the company, I wish to welcome
Tony Zheng
as Chief Financial Officer to the Frontier
Team. Tony brings significant experience which will be vital as we continue our progress towards
building a Tier one lithium project for
North America
." said Mr.
Trevor Walker
, President, and CEO of
Frontier Lithium.
"I am excited at the opportunity to contribute to Frontier Lithium, a company that has experienced
strong growth in recent years and is positioning itself to be a leader amongst North American lithium
companies. I look forward to joining the talented team advancing the PAK Lithium Project to
production and contributing to shareholder value." said Mr. Zheng.
Mr. Zheng has held several positions with international mining companies, most recently as VP
Finance & Controller at Tanzanian Gold Corporation. Prior to Tanzanian Gold Corporation, he was
Director of Finance at Guyana Goldfields Inc. and facilitated the post-acquisition integration of
Guyana Goldfields by Zijin Mining Group Co., Ltd. Between 2010 and 2016, he held progressive
roles at Lundin Mining Corp., including Manager, Financial Planning and Analysis, and Manager,
Financial Reporting. Mr. Zheng holds a Bachelor of Commerce (Honours) degree from
York
University
in
Toronto
and received CPA, CA designation in 2014 and CGA designation in 2012.
Other Matters
The Company also announces that pursuant to its "Stock Option Plan" it has granted 750,000 stock
options, to certain employees, officers, directors, and strategic advisors. The options are set for a
period of five years, expiring on
April 19, 2027
. The options are priced at
$3.16
and are subject to
regulatory approval.
About Frontier Lithium
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 is developing 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. Frontier
continues to have significant exploration upside with potential to increase its lithium resource. The
Company is a pure-play lithium development opportunity with the largest land position in a premium
lithium mineral district located in
Northern Ontario
About the PAK Lithium Project
The Project is a Tier 1 lithium resource, containing the highest-grade lithium deposit and targeting to
be top three by size in North America. The Project encompasses 26,774 hectares 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. These deposits are
supported by a measured and indicated resource of 21.64 million tonnes (Mt) averaging 1.56 per
cent lithium oxide (Li
2
O) and inferred resource of 20.86 Mt averaging 1.48 per cent Li
2
O. A fully
integrated lithium operation from the resource for production of battery-quality lithium salts 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. (2021 Preliminary Economic Assessment, NI 43-101 technical report
titled "Pak Property" by BBA E&C Inc., issued on
April 5
, 2021).Considerable exploration upside is
underpinned by 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.
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:
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 17:00e 19-APR-22