LTHM.CN · 2024-07-16 12:00:00

Champion Electric Confirms Spodumene-Bearing Pegmatite Dikes in Multiple Trenches at Quebec Lithium Project, James Bay Territory

Exploration Programs

Champion Electric Confirms Spodumene-

Bearing Pegmatite Dikes in Multiple Trenches

at Quebec Lithium Project, James Bay

Territory

Toronto, Ontario--(Newsfile Corp. - July 16, 2024) -

Champion Electric Metals Inc.

(CSE: LTHM)

(OTCQB: GLDRF) (FSE: 1QB0) ("

Champion Electric

" or the "

Company

") is pleased to confirm

visually identified spodumene-bearing pegmatite dikes exposed in excavator trenches at the Western

Prospect of the Quebec Lithium Project in the heart of the Eeyou Istchee James Bay territory (see Fig.

1).

As part of the

2024 field program

, a series of excavator trenches has been completed at various places

across the recently reported 1,700-metre-long

glacial dispersal train of spodumene-bearing boulders

(see Fig. 2). Significantly, spodumene-bearing pegmatite dikes ranging from 3 to 17 metres width were

exposed in 3 trenches in the vicinity of the mineralized pegmatite dike intersected in

drill hole EIQ24-007

(10.0 metres at 0.42% Li

O).

"It is gratifying to see that the design and execution of the 2023 exploration program provided the

foundation for the discovery of 'blind' mineralization so rapidly in 2024,"

commented President and

CEO Jonathan Buick.

"We now transition to identify areas along strike and at depth with potential for

increased thickness and lithium grade of these mineralized pegmatite dikes. Simultaneously, we will

advance target development across the length of the property. We look forward to reporting exciting

results from the upcoming drill program starting in about two weeks."

Highlights of the Exposed Spodumene-Bearing Pegmatite Dikes

The thickness of glacial sedimentary cover encountered in trenches ranges from one metre to more than

five metres, the maximum reach of the excavator. Once exposed, the bedrock surface in the trenches

tends to vary in depth, usually exposing only 10-20 metres at a time; and certain of the trenches failed to

reach any bedrock.

Please see link for drone footage of newly exposed spodumene-bearing pegmatite dikes:

https://youtu.be/JsG4TwZZJCY

Each of these mineralized pegmatite dikes was then explored along its strike to the limits of the

excavator to reach bedrock, typically a distance of 30-40 metres (see Fig. 3). The geological team

completed systematic mapping and channel sampling of pegmatite dikes with the aid of a two-bladed

diamond saw (see Fig 4). Channel sampling effectively approximates a "horizontal drill hole", which can

be used to constrain the extent of the spodumene mineralized pegmatite dikes by using the geological

and sample data. This information will be used in the planning of the pending diamond drill program. A

total of 112 channel samples of nominal 1 metre length has been shipped via commercial freight to

Actlabs in Val d'Or, Quebec for analysis. Analytical results are expected to be received in early August.

Visual estimates of spodumene content in pegmatite dike trench exposures range 2-10% with significant

variability recognized over short distances along strike. Spodumene crystals are pale green in color with

a maximum observed length of approx. 80 cm (see Figs. 4 and 5). Pegmatite dikes typically exhibit fine-

grained selvages of a few tens of centimetres width at their contacts with amphibolite host rock; these

selvages are absent of spodumene and are interpreted as chill margins. Spodumene crystals can locally

exhibit crude alignment that is suggestive of the flow direction of the igneous melt.

These spodumene pegmatite dikes exposed in trenches are provisionally interpreted to correlate to the

mineralized dike intercept in drill hole EIQ24-007. A minimum strike length of 340 metres is indicated for

this pegmatite dike that remains open both to the northeast and southwest, and at depth.

Overview of the 2024 Field Program

The Company's Quebec Lithium Project lies near notable lithium occurrences, such as Patriot Battery

Metals' Corvette Project and Winsome Resources' Cancet Discovery. Fieldwork for 2024 began

northeast of the recent mineralized pegmatite discovery. Efforts include closely spaced till sampling,

boulder prospecting, mapping, trenching, and channel sampling with overburden clearing at the new

boulder field, where significant lithium results have been

reported from sampling

Figure 1: Western Prospect Location, outlined in yellow.