Frontier Lithium Finalizes the Contribution Agreements FOR the Critical Minerals Infrastructure Fund
FRONTIER LITHIUM FINALIZES THE
CONTRIBUTION AGREEMENTS FOR THE
CRITICAL MINERALS INFRASTRUCTURE
FUND
SUDBURY, ON
,
March 31, 2025
/CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX:
LITOF) ("Frontier" or the "Company") is pleased to announce that, further to its Press Release
dated
October 27, 2024
regarding federal funding of up to
$6 million
, the accompanying contribution
agreements with the Government of
Canada
have recently been executed for this funding
("
Contribution Agreements
"). With conditions now met in the Contribution Agreements, Frontier
has successfully secured up to
$6 million
in non-repayable funding under the Federal Critical
Minerals Infrastructure Fund. This funding will support the advancement of essential mine access
road and electricity infrastructure projects critical to the development of the Company's PAK Lithium
Project in
Northwestern Ontario
.
Pursuant to the Contribution Agreements, Frontier will be entitled to receive the following amounts,
which shall be reimbursed at 50% of eligible expenditures for two key infrastructure projects, over
the course of four years:
Mine Access Road Development, total grant funding of
$2.8 million
– Preconstruction activities,
including environmental studies, for an all-season, 56-kilometer, two-lane access road linking the
PAK Lithium Project to the
Ontario
highway system.
Power Transmission Infrastructure, total grant funding of
$3.2 million
– Engineering, design, and
permitting studies for a substation and transmission line to enable grid connection from the PAK
Lithium Project to the Wataynikaneyap (Watay) Power transmission line.
Frontier remains committed to ongoing engagement and consultation with local and indigenous
communities as these projects progress.
This Federal support underscores the importance of collaboration in developing
Northwestern
Ontario's
critical minerals sector while strengthening
Canada's
position in the global electric vehicle
and energy storage markets.
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 lithium development initiative, developing
North
America's
highest-grade lithium reserves. A joint venture between Frontier Lithium Inc. (92.5%) and
Mitsubishi Corporation (7.5%), the project involves the extraction of lithium ore, advanced processing
to produce high-purity lithium concentrates, and downstream refining facility to manufacture battery-
grade lithium salts. A 2023 Pre-Feasibility Study by BBA E&C Inc., titled
"National Instrument 43-
101 Technical Report PFS PAK Lithium Project"
, estimates a 24-year project life with a post-tax
NPV (8%) of
US$1.74
billion and an IRR of 24.1%. These results were disclosed in a May 31,
2023, press release and filed 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: proposed Federal funding and timing/delivery of such,
estimated capital costs and timelines to construct a mine and processing facility, exploration and
constructions activities and events or developments that the Company expects.
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 may differ materially from those expressed in the forward-looking statements.
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: elected and
constituted government's in
Canada
at both the Federal and Provincial level, changes to Federal
and/or Provincial funding mandates, 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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/March2025/31/c5710.html
%SEDAR: 00008434E
For further information:
Company Contact Information: Bora Ugurgel, Senior Manager, Investor
Relations, 2614 Belisle Drive Val Caron, Ontario. P3N 1B3 Canada, T. +001 705.897.7622, F. +001
705.897.7618
CO: Frontier Lithium Inc.
CNW 17:00e 31-MAR-25