Lithium Ionic Acquires Strategic Mining Claim in Minas Gerais, Brazil
Lithium Ionic Acquires Strategic Mining Claim in Minas Gerais, Brazil
TORONTO, ON, February 13, 2023 – Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF; FRA:
H3N) (“Lithium Ionic ” or the “ Company”) announces that its Brazilian-based wholly owned
subsidiary, MGLIT Empreendimentos Ltda. (“MGLIT”), has entered into a binding asset purchase
agreement (the “Agreement”) with Clésio Alves Gonçalves Mineraçao E Comercio Ltda (“Clesio”)
pursuant to which MGLIT has acquired a st rategic mining claim covering 1,000 hectares (the
“Clesio Claim”) in Minas Gerais state, Brazil.
With the acquisition of the Clesio claim , Lithium Ionic has increased its land position to
approximately 7,700 hectares, a six-fold increase from the 1,300 hectares it launched with in May
2022. The Company’s land holdings are all located in the Jequitinhonha Valley, a prolific hard -
rock lithium district in the state of Minas Gerais, Brazil.
Blake Hylands, P. Geo. , CEO of Lithium Ionic, commented, “We continue to consolidate
prospective lithium targets in the prolific Eastern Brazilian Pegmatite Province known for its large
and high grade hard-rock lithium deposits. Our team believes there’s excellent potential to identify
mineralized pegmatites on the Clesio claim, given it is on trend with nearby world-class lithium
deposits - among these are Sigma Lithium’s Xuxa and Barreiro deposits, which form part of the
largest hard-rock lithium deposits in the Americas, as well as CBL’s Cachoeira Mine, which has
been producing lithium for 30 years.”
The Transaction
Pursuant to the terms of the Agreement, Lithium Ionic has paid R$500,000 (approximately
C$130,000) in cash to Clesio to acquire the Clesio Claim.
If the Company establishes a NI 43-101 compliant mineral resource estimate on the Clesio Claim
of at least two million tons with an average content greater than 1.30% Li2O within 30 months
of acquiring the Clesio Claim, Lithium Ionic shall pay Clesio a cash bonus of USD$1 million.
If the Company establishes a NI 43-101 compliant mineral resource estimate on the Clesio Claim
of at least five million tons with an average content greater than 1.30% Li2O within 48 months
of acquiring the Clesio Claim, Lithium Ionic shall pay Clesio an additional cash bonus of USD$1
million.
The transaction is an arm’s length transaction for the purposes of the policies of the TSX Venture
Exchange (“TSXV”) and qualifies as an “Exempt Transaction” under TSXV Policy 5.3. Lithium
Ionic is not paying any finder fees in connection with the transaction.
Figure 1 – Lithium Ionic Claims and New Clesio Claim
About Lithium Ionic Corp.
Lithium Ionic is a Canadian- based lithium -focused mining company with properties covering
~7,700 hectares located in the prolific Aracuai lithium province in Minas Gerais State, Brazil, which
boasts excellent infrastructure, including highways, access to hydroelectrical grid power, water,
and nearby commercial ports. Its Itinga and Galvani claims are located in the same district as the
lithium-producing CBL mine and construction -stage Sigma Lithium Corp.’s large Barreiro and
Xuxa lithium deposits.
Qualified Persons
The technical information in this news release has been prepared by Carlos Costa, Vice President
Exploration of Lithium Ionic and Blake Hylands, CEO and director of Lithium Ionic, and both are
“qualified persons” as defined in NI 43-101.
For more information please contact:
Lithium Ionic Corp.
Investor Relations
+1 647-316-2500
Blake Hylands, P.Geo.
Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward- statements.” Such forward
looking statements involve known and unknown risks, uncertainties and other factors that may
cause the Company’s actual results, performance or achievements, or devel opments to differ
materially from the anticipated results, performance or achievements expressed or implied by
such forward-looking statements. Although the Company believes, in light of the experience of its
officers and directors, current conditions and expected future developments and other factors that
have been considered appropriate that the expectations reflected in this forward -looking
information are reasonable, undue reliance should not be placed on them because the Company
can give no assurance that they will prove to be correct. When used in this press release, the
words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or
“should” and the negative of these words or such variations thereon or comparable t erminology
are intended to identify forward- looking statements and information. The forward -looking
statements and information in this press release include information relating to the prospectivity
of the Clesio Claim, the ability to produce an NI 43-101 compliant mineral resource estimate, the
mineralization and development of the Itinga Project and the Clesio Claim and other mining
projects and prospects thereof ; the Clesio Claim transaction and the Company’s future plans .
Such statements and information reflect the current view of the Company. Risks and uncertainties
that may cause actual results to differ materially from those contemplated in those forward-looking
statements and information. By their nature, forward- looking statements involve known and
unknown risks, uncertainties and other factors which may cause our actual results, performance
or achievements, or other future events, to be materially different from any future results,
performance or achievements expressed or implied by such forward- looking statements. The
forward-looking information contained in this news release represents the expectations of the
Company as of the date of this news release and, accordingly, is subject to change after such
date. Readers should not place undue importance on forward-looking information and should not
rely upon this information as of any other date. The Company undertakes no obligation to update
these forward-looking statements in the event that management’s beliefs, estimates or opinions,
or other factors, should change.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press
release.