Frontier Lithium Files Year-End
FRONTIER LITHIUM FILES YEAR-END MARCH
31, 2025 FINANCIAL RESULTS
GREATER SUDBURY, ON
,
July 29, 2025
/CNW/ - Frontier Lithium Inc. (TSXV: FL) (OTCQX:
LITOF) ("Frontier" or the "Company") is pleased to report its financial and operational results for the
year ended
March 31, 2025
("FY 2025") and to outline recent milestones that have been achieved
by the Company that support its plan to become a critical supplier of battery-grade lithium chemicals
for the nascent North American electric vehicle (EV) market.
FY2025 Highlights and Recent Developments
As at
March 31, 2025
, Frontier held approximately
$17.9 million
in cash, an increase from
$12.6
million
the prior year period. The increase was driven by a strategic financing, including proceeds
from the previously announced Mitsubishi Corporation joint venture transaction. Frontier's financial
position will allow it to execute on the next phase of its project development.
Feasibility Study Confirms Robust Mine & Mill Project
In
May 2025
, Frontier released results of its independent Mine and Mill Feasibility Study ("Feasibility
Study"), demonstrating strong project economics for the standalone development of its PAK and
Spark deposits. The Feasibility Study outlined average annual production of 200,000 tonnes of
spodumene concentrate (SC6) over a 31-year mine life, with an after-tax net present value of
$932
million
at an 8% discount rate and an internal rate of return of 17.9%. C1 operating costs for the
project are estimated at
$602
per tonne of SC6 and these metrics position the project to be among
one of the most competitive globally.
Advancing Environmental and Infrastructure Work
Frontier continued work on environmental baseline studies to support permitting efforts. Through
Canada's
Critical Minerals Infrastructure Fund, the Company secured up to
$6 million
in non-
repayable funding for pre-construction activities on mine access and power infrastructure.
Significant Government Support for Downstream Facility
In
March 2025
, the federal and
Ontario
governments jointly announced conditional funding to support
Frontier's proposed lithium salts conversion facility in
Thunder Bay, Ontario
. The funding will
supplement capital costs for the facility, which is intended to supply North American cathode and
battery makers.
Exploration Success and Ember Pegmatite Discovery
The Company completed over 11,000 metres of drilling in FY 2025, including geomechanical,
hydrogeological, and condemnation drilling in support of project feasibility. A new lithium-bearing
zone, the Ember pegmatite, was identified 1 kilometre from the Spark deposit. Initial drilling at the
Ember Pegmatite has confirmed high-grade mineralization beneath a surface outcrop previously
sampled through channel sampling.
Land Secured for Lithium Chemical Facility
In
February 2025
, Frontier secured a vacant industrial site on Mission Island in
Thunder Bay, Ontario
to host its proposed lithium conversion facility. The purchase was funded by a
$3.35 million
unsecured convertible loan that was completed in
February 2025
.
Outlook
With one of
North America's
highest-grade spodumene resources, a positive feasibility study, a
global strategic partner, and strong government support for downstream infrastructure, Frontier is
well positioned to become a key player in
North America's
critical minerals supply chain. The
Company will focus on advancing project permitting, completing technical studies, and finalizing
Indigenous partnership agreements. Feasibility work on the lithium conversion facility will continue in
parallel, with the goal of converting strong expressions of interest from both the Federal Government
and Provincial Government of
Ontario
into contribution agreements.
About Frontier Lithium
Frontier Lithium Inc. is a pre-production mining company with an objective to become a strategic and
integrated supplier of premium spodumene concentrates as well as battery-grade lithium salts to the
growing electric vehicle, and energy storage markets in
North America
. The Company's PAK Lithium
project maintains the largest land position and resource in a premium lithium mineral district located
in
Ontario's
Great Lakes region.
About the PAK Lithium Project
The PAK Lithium Project is a fully integrated critical minerals initiative in
Ontario
, developing
North
America's
highest-grade known lithium resource. Operated as a joint venture between Frontier
(92.5%) and Mitsubishi Corporation (7.5%), the project is advancing in parallel with a mine and mill
and a downstream lithium conversion facility in
Thunder Bay, Ontario
, which are both key to
supporting a secure domestic lithium supply for the clean energy transition. A 2025 Mine and Mill
Feasibility Study (FS), prepared by DRA and entitled National Instrument 43-101 Technical Report
FS PAK Lithium Project, Mine and Mill, outlines a 31-year Project life with an after-tax net present
value of
$932 million
at an 8% discount rate and an after-tax internal rate of return of 17.9%.These
results were disclosed in a press release dated
May 28, 2025
, and the accompanying technical
report was filed on
July 9, 2025
on SEDAR+ (
www.sedarplus.ca
).
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements".
All statements in this release, other than statements of historical fact constitute forward-looking
statements. Forward looking statements contained in this news release may include, but are not
limited to, statements with respect to: capital requirements and private and/or public financing
initiatives and completion of these financings (if any), estimated mineral resources, estimated capital
costs to construct mine facilities, estimated operating costs, the duration of payback periods,
estimated amounts of future production, estimated cash flows, net present value, the Feasibility
Study and statements that address future production, resource and reserve potential, exploration
drilling, exploitation activities and events or developments that the Company expects, including but
not limited to capital and operating costs, timelines, internal rates of return, and project development
milestones.
Forward-looking statements involve inherent risks and uncertainties. Risk factors that could cause
actual results to differ materially from those in forward looking statements include: market prices for
commodities, increases in capital or operating costs, construction risks, availability of infrastructure
including roads, regulatory and permitting risks, exploitation and exploration successes, continued
availability of capital and financing, financing costs, 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, please review the
Company's public filings available at
www.sedarplus.ca
.
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.
SOURCE
Frontier Lithium Inc.
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%SEDAR: 00008434E
For further information:
Company Contact Information: Bora Ugurgel, Senior Manager, Investor
Relations, 2614 Belisle Drive Val Caron, Greater Sudbury, Ontario, P3N 1B3 CANADA, T. +001
705.897.7622
CO: Frontier Lithium Inc.
CNW 17:00e 29-JUL-25