Infinico Metals Corp. Granted Extension to its Option Agreement on the Dalhousie Project and Announces Resignation of Director
Infinico Metals Corp. Granted Extension to its Option Agreement on the
Dalhousie Project and Announces Resignation of Director
Vancouver, Canada, April 09, 2024 – Infinico Metals Corp. (“Infinico” or the “Company”) (TSX-
V: INFM) is pleased to announce it has received a six-month extension on the first-year work
commitment on its Dalhousie Project, located 180 kilometres northeast of Val-d’Or, Québec.
Under the original terms of the agreement dated July 31, 2023 (the “Agreement”) between
the Company and Globex Mining Enterprises Inc. (the “Optionor”) Infinico was required to
undertake $1,000,000 in exploration expenditure within the first twelve-month period. Due
to forest fires in 2023 and weather conditions delaying the start of the 2024 field season,
the Optionor has agreed to waive the deadline by which the Expenditures must be made,
until December 31, 2024. All other terms of the option agreement remain the same as
detailed in the June 05, 2023, press release.
Sam Walding, Infinico’s CEO commented “The extension to the Dalhousie op1on agreement is
great news, allowing Infinico ample 1me to mobilize once the snow has melted. This extension
enables the con1nua1on of systema1c mapping and sampling of the lithium -bearing
pegma1te iden1fied on the property in late 2023. The mapping will play a crucial role in
planning any further work later in 2024.”
Dalhousie Summary of Results and Future Work
In November of 2023 a spodumene bearing pegmacte outcrop on the west-end of the
Dalhousie Property was idencfied. The results from a total of six rock chip samples collected
are shown in Table 1. Five of the six samples grade above 1.30% Li2O and up to 4.45% Li2O.
The pegmacte outcrop has a minimum strike length of 110 metres based on a one-day
mapping and rock chip sampling program at its Dalhousie project (Figure. 1).
A detailed mapping and sampling program is planned for spring 2024. The work program will
assist in understanding the true extent of the newly discovered lithium bearing pegmacte, as
well as helping to idencfy previously unrecognized lithium bearing pegmactes elsewhere on
the Dalhousie Project.
Table 1. Assay results from the November sampling program
Sample ID Sample
Type
Rock
Type
Li2O*
(%)
Cs
(ppm)
Ta2O5**
(ppm)
K28401 Rock Chip Pegmatite 0.92 41.10 21.2
K28402 Rock Chip Pegmatite 1.59 33.30 44.8
K28403 Rock Chip Pegmatite 4.39 59.40 107.6
K28404 Rock Chip Pegmatite 4.45 32.90 57.5
K28405 Rock Chip Pegmatite 1.37 91.90 68.5
K28406 Rock Chip Pegmatite 3.91 75.40 57.0 *A standard conversion factor of 2.15 was used to convert Li (ME-MS89L) to Li2O values.
**A standard conversion factor of 1.22 was used to convert Ta (ME-MS89L) to Ta2O5
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Figure 1. Plan map showing Infinico rock chip samples on a satellite image background.
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ResignaLon of Director
Infinico also announces that Michael Skead has stepped down as a director of the Company
with immediate effect due to personal reasons.
Tom Panoulias, Execucve Chairman of Infinico Metals stated “On behalf of the board of
directors of Infinico Metals I would like to thank Mr Skead for his contribu1on and advice to
the Company while it went through a transi1onal period refocusing on cri1cal metals
explora1on in Québec.”
Qualified Persons
The technical informacon in this news release has been prepared by Szabolcs Orban, MSc,
EFG, EurGeol (#1883), OGQ (AS-1617), Vice President of Exploracon at Infinico Metals Corp.
Mr Orban is a “Qualified Person” as defined in NI 43-101. Mr . Orban has read and approved
the content of this news release.
About the Dalhousie Project
The Dalhousie Project is located approximately 180 kilometres northeast of Val d’Or, Quebec,
Canada. The project is fully accessible by road with nearby mining infrastructure and
expercse. The project is host to a cluster of magmacc nickel sulphide occurrences within a
mafic-ultramafic intrusive complex, as well as a newly recognised lithium bearing pegmacte.
About Infinico Metals Corp.
Infinico Metals Corp. is a public company on the TSX Venture Exchange (TSX-V: INFM) focusing
on the exploracon for criccal metals in the province of Québec. The Company has signed
opcon agreements on the Nicobi Project, hoscng magmacc Ni-Cu-Co sulphide mineralizacon,
and on the Dalhousie Project, which also hosts magmacc Cu-Co-Ni sulphide mineralizacon,
and a recently discovered lithium bearing pegmacte.
For more informacon, please contact:
Sam Walding, Chief Execucve Officer
Telephone: +44 7568 508610
swalding@infinicometals.com
www.infinicometals.com
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Forward Looking Statements
Neither TSX Venture Exchange nor its Regulacon 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 News Release includes certain “forward-looking statements” which are not comprised of
historical facts. Forward looking statements include escmates and statements that describe
the Company’s future plans, objeccves or goals, including words to the e ffect that the
Company or management expects a stated condicon or result to occur . Forward looking
statements may be idencfied by such terms as “believes” , “anccipates” , “expects” ,
“escmates” , “may” , “could” , “would” , “will” , or “plan”. Since forward-looking statements are
based on assumpcons and address future events and condicons, by their very nature they
involve inherent risks and uncertainces. Although these statements are based on informacon
currently available to the Company, the Company provides no assurance that actual results
will meet management’s expectacons. Risks, uncertainces and other factors involved with
forward-looking informacon could cause actual events, results, performance, prospects and
opportunices to differ materially from those expressed or implied by such forward-looking
informacon. Forward looking informacon in this news release includes, but is not limited to,
the Company’s objeccves, goals or future plans, statements, exploracon results, potencal
mineralizacon, the escmacon of mineral resources, exploracon and mine development plans,
cming of the commencement of operacons and escmates of market condicons. Factors that
could cause actual results to differ materially from such forward-looking informacon include,
failure to idencfy mineral resources, failure to convert escmated mineral resources to
reserves, the inability to complete a feasibility stu dy which recommends a produccon
decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to
obtain required governmental, environmental or other project approvals, policcal risks,
inability to fulfil the duty to acc ommodate First Nacons and other indigenous peoples,
uncertainces relacng to the availability and costs of financing needed in the future, changes
in equity markets, inflacon, changes in exchange rates, fluctuacons in commodity prices,
delays in the development of projects, capital and operacng costs varying significantly from
escmates and the other risks involved in the mineral exploracon and development industry,
an inability to predict and counteract the effects of COVID-19 on the business of the Company,
including but not limited to the effects of COVID-19 on the price of commodices, capital
market condicons, restriccon on labour and internaconal travel and supply chains, and those
risks set out in the Company’s public documents filed on SEDAR . Although the Company
believes that the assumpcons and factors used in preparing the forward-looking informacon
in this news release are reasonable, undue reliance should not be placed on such informacon,
which only applies as of the date of this news release, and no assurance can be given that
such events will occur in the disclosed cme frames or at all. The Company disclaims any
intencon or obligacon to update or revise any forward-looking informacon, whether as a
result of new informacon, future events or otherwise, other than as required by law.