ION Energy Acquires New Canadian Exploration Asset
ION Energy Acquires New Canadian
Exploration Asset
Toronto, Ontario--(Newsfile Corp. - August 16, 2023) - ION Energy Limited (TSXV: ION) (OTCQB:
IONGF) (FSE: 5YB) ("
ION
" or the "
Company
") is pleased to announce the Company has acquired two
new claims by staking in NWT, Canada, identified as the Little Nahanni claims ("
Little Nahanni
"). The
Little Nahanni claims total approximately 900 hectares and are in the area of pegmatites first identified
in 1961. The Company believes the Little Nahanni claims are underexplored for lithium and represent
opportunity for lithium discovery and positive partnerships with regional stakeholders, and will
complement ION's current lithium exploration activities in Northwest Territories.
The Company also announces it has closed the acquisition of the Bliss Lake Lithium Pegmatite Project
in NWT, Canada ("
Bliss Lake
"). The immediate consideration for the acquisition of Bliss Lake
consisted of a single tranche of 571,428 Company shares with a deemed value of $128,571 at a
deemed price per share of $0.25. Transaction terms also provide for deferred equity-based
consideration to the vendors in the event assay results from exploration at Bliss Lake satisfy defined
lithium oxide content thresholds and cash consideration in the event of announcement of a mineral
resource estimate at Bliss Lake meeting defined criteria. 57,142 Company shares were issued to a
finder in the transaction.
"What an exciting time for ION Energy: while we work towards an inferred resource calculation this Fall
at our prized Urgakh Naran Brine asset in the booming mining jurisdiction of Mongolia in such close
proximity to China, we have now identified and acquired further assets in a Tier 1 region. Each of
these new assets provide the Company with exposure to proven Pegmatite Lithium districts in the
Northwest Territories. ION's long term vision of exploring and developing high quality lithium
resources in strategic jurisdictions as the world continues to electrify, is materializing rapidly.
" said Ali
Haji, CEO & Director of ION Energy.
For additional information about Bliss Lake, see ION's press releases dated
May 11, 2023
and
June 28,
2023
.
The Company also advises that further to its press release dated July 20, 2023 announcing the closing
of its non-brokered private placement, the Company inadvertently announced an incorrect aggregate
cash commission of $56,100 paid to finders. The correct amount paid to finders in connection with the
private placement was $26,100.
About ION Energy Ltd.
ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing
high quality lithium resources in strategic jurisdictions. ION's flagship, 81,000+ hectare Baavhai Uul
lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia.
ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi
Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada,
ION will have significantly enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a
key player in the clean energy revolution, positioned well to service the world's increased demand for
lithium. Information about the Company is available on its website,
www.ionenergy.ca
, or under its profile
on SEDAR+ at
www.sedarplus.ca
.
For further information:
COMPANY CONTACT: Ali Haji,
, 647-871-4571
MEDIA CONTACT: Siloni Waraich,
, 416-432-4920
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 news
release.
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release contains forward-looking statements. Forward-looking
statements include estimates and statements that describe the Company's future plans, objectives or
goals, including words to the effect that the Company or management expects a stated condition or
result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates",
"expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are
based on assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are based on information currently available
to the Company, the Company provides no assurance that actual results will meet management's
expectations. Risks, uncertainties and other factors involved with forward-looking information could
cause actual events, results, performance, prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information. Forward looking information in this news
release includes, but is not limited to, the Company's objectives, goals or future plans, and statements,
and the prospectivity of its exploration property portfolio for lithium mineralization. Important factors that
could cause actual results to differ materially from ION Energy's expectations include, among others,
uncertainties relating to availability and costs of financing needed in the future, changes in equity
markets, risks related to international operations, the actual results of current exploration activities, and
delays in the development of projects. There can be no assurance that forward-looking statements will
prove to be accurate and actual results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/177447