Lithium Ionic Increases Ownership Stake in Salinas Project to 85%
Lithium Ionic Increases Ownership Stake in Salinas Project to 85%
TORONTO, ON, October 10, 2023 – Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE:
H3N) (“Lithium Ionic” or the “Company”) is pleased to announce that it has increased its mineral
rights ownership in the Salinas project (“Salinas” or the “Project”) from 40% to 85% as a result of
having successfully fulfilled certain exploration commitments (as per press release dated March
13, 2023), which included R$21.3 million (~CAD$5.75 million) spent on exploration activities on
the Project.
Blake Hylands, P.Geo., Chief Executive Officer of Lithium Ionic, commented, “Our increased
ownership of the Salinas property marks a n important milestone in our growth strategy and
underscores our commitment to unlocking value with the advancement of this key asset. We look
forward to the continued progress of the Salinas project and the opportunities it holds for our
Company.”
Lithium Ionic gained control of the Salinas project in March 2023 by acquiring Neolit Minerals (as
previously announced in the press release dated March 13, 2023). Salinas encompasses nine
exploration tenements totaling 5,713 hectares within the Salinas re gion, situated in the low -
pressure, high -temperature Curralinho Pegmatite Field of the lithium -rich Araçuaí Pegmatite
District. These claims are located approximately 100 kilometers north of the Company’s wholly
owned Itinga Project, including the Bandeira and Outro Lado lithium deposits, in the northern
region of Minas Gerais State, Brazil. The Company has been actively drilling at the Salinas Project
since May 2023.
About Lithium Ionic Corp.
Lithium Ionic is a Canadian mining company exploring and developing its lithium properties in
Brazil. Its flagship Itinga and Salinas projects cover 14,182 hectares in the northeastern part of
Minas Gerais state, a mining-friendly jurisdiction that is quickly emerging as a world -class hard-
rock lithium district. The Itinga Project is situated in the same region as CBL’s Cachoeira lithium
mine, which has produced lithium for +30 years, as well as Sigma Lithium Corp.’s Grota do Cirilo
project, which hosts the largest hard-rock lithium deposit in the Americas.
Investor and Media Inquiries:
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Cautionary Note Regarding Forward-Looking Statements
This press release contains statements t hat 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 developments to differ
materially from the an ticipated 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 terminology
are intended to identify forw ard-looking statements and information. The forward -looking
statements and information in this press release include information relating to the prospectivity
and development of the Company’s mineral properties, the exploration of the Project 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, perf ormance 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 c hange 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 tha t
management’s beliefs, estimates or opinions, or other factors, should change.
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