Pegmatite One Lithium and Gold Corp. - Press Release - August 21, 2023
Key Highlights:
• Discovery: First -ever lithium mineraliza�on iden�fied in Northwestern Ontario’s Frazer Lake
Mound Property
• High-Grade Findings: Iden�fied zone with an average of 6.82% Li2O, peaking at 7.26% Li2O.
• Promising Poten�al: 9-kilometre trend of enriched LCT* pegma�te veins and dykes iden�fied.
Pegma�te One Confirms High-Grade Lithium Discovery at Frazer Lake
Mound Property
Vancouver, Bri�sh Columbia, August 21st, 2023 – Pegma�te One Lithium and Gold Corp. (formerly Madi
Minerals Ltd.) (“ Pegma�te One” or the “Company”) (CSE: PGA) announces a discovery of high-grade
lithium mineraliza�on at the Frazer Lake Mound Property in Northwestern Ontario, Canada. This
significant discovery, spearheaded by Planet X Explora�on Services Corp. (“Planet X”), is the first of its kind
in this region.
The explora�on program, driven by a skilled team of geologists and explora�onists at Planet X, resulted in
the collec�on of 231 rock grab samples across the property. An in-depth analysis confirmed the presence
of spodumene-bearing pegma�te dy kes, reinforcing the monumental nature of this discovery in
Northwestern Ontario.
Breakdown of the Discovery:
• Peak Values: In the spodumene-rich pegma�te zone, 6 samples averaged an impressive 6.82%
Li2O, reaching highs of 7.25% Li2O.
• Other Anomalies: 15 samples exhibited readings over 0.02% Li2O.
Adding to the excitement, an extensive trend, spanning about 9 kilometres and containing anomalous and
enriched LCT pegma�te veins and dykes has been mapped out. This discovery emphasizes the regions
poten�al for hos�ng further high-grade lithium mineraliza�on. The discovery zone contains
visual spodumene with an es�mated abundance varying between 1-50% within the pegma�te matrix and
the extent of the zone is currently open in all direc�ons.
Figure 1: Geographical Distribution of Lithium Grades: Spotlight on High-Grade Zones at Frazer Lake
Property in Northwestern Ontario, Canada
K e l l y A b b o t , C E O o f P e g m a � t e O n e , s t a t e d , “ T h i s n e w d a t a a d d s t o t h e g r o w i n g e v i d e n c e o f t h e
excep�onal lithium poten�al of the Frazer Lake Mound Property. We’re excited about the implica�ons this
has for our future explora�on and development strategies moving forward.”
An�cipated maps detailing the discovery will be shared once received. This announcement for�fies
Pegma�te One’s commitment to unveiling superior lithium sources pivotal for the evolu�on of green and
sustainable technologies.
On Behalf of the Board of Directors,
Pegma�te One Lithium and Gold Corp.
Kelly Abbot
CEO
Phone: +1 (416) 481-2222 x228
Email: kelly@pegma�teone.com
Website: www.pegma�teone.com
*LCT pegma�tes are a type of rare grani�c forma�on named for their main mineral components: Lithium (L), Cesi um (Cs), and
Tantalum (Ta). These pegma�tes are highly mineralized intrusions, typically characterized by large crystals and are a signifi cant
source of rare metals.
In geological terms:
- LCT: This acronym stands for the three elements - Lithium, Cesium, and Tantalum. The LCT family of pegma�tes are a par�cularly
interes�ng and economically important class because they contain many minerals used in modern technology, including lithium,
which is crucial for rechargeable bateries in electric vehicles and various electronic devices.
The presence of LCT pegma�te veins and d ykes is significant because it indicates the poten�al presence of valuable minerals,
especially lithium, which has growing demand in various industries, par�cularly in the manufactu ring of bateries for electric
vehicles and renewable energy storage.
Qualified Person
Technical informa�on in this news release has been approved by Ryan Versloot, P .Geo., a ‘Qualified Person’ as defined under
Canadian Na�onal Instrument 43-101.
Quality Assurance / Quality Control (“QA/QC”)
Grab samples were managed by Planet X Explora�on Services Ltd. All samples were bagged, sealed , and
stored inside a storage locker un�l delivery to an independent laboratory, ALS Laboratories in Thunder Bay,
Ontario (ISO/IEC 17025:2017). The ini�al batch of samples were analyzed by four acid diges�on with ICP-
MS finish (ME-MS61) and the over limits were finished by ICP-AES (Li-OG63). One standard (OREAS 750)
and one blank were submited with the shipment to supplement the lab's internal controls.
About Pegma�te One Lithium and Gold Corp.
Pegma�te One is listed on the Canadian Securi�es Exchange and is focused on the explora�on for lithium
and gold. The Company is commited to responsible mining prac�ces and operates two mineral
explora�on proper�es in Northwestern Ontario and a third mineral explora�on property on Vancouver
Island, Bri�sh Columbia. The Morrison River property consists of 222 claims and 335 cell claim units in the
Morrison River area, Muskrat Dam Lake, Northwestern Ontario. The Morrison River property is Pegma�te
One's flagship lithium asset; the Company sees its poten�al lithium produc�on to be part of the world's
con�nued shi� toward electric vehicles and green technologies. The Georgina property, a gold prospect
located in the Nanaimo mining division, Vancouver Island, Bri�sh Columbia, consists of one mineral claim
covering an area of 2,069 hectares.
Addi�onal informa�on concerning the Company is contained in documents filed by the Company with
securi�es regulators, available under its profile at www.sedarplus.ca.
The Canadian Securi�es Exchange and its Regula�on Services Provider do not take responsibility for the
accuracy of the content of this news release.
Forward-Looking Statement
This news release contains forward-looking statements as per applicable securities laws. Such statements,
not rooted in histo rical fact, often use terms like "may," "anticipate," "expect," "potential," "believe,"
"intend," or their negatives. Key anticipations include: the Morrison River property's lithium potential;
Georgina property's gold potential; the Company’s exploration plans for Frazer Lake Mount Property; the
potential of Frazer Mound Property as a high- grade lithium source based on recent analyses; the
Company’s commitment to updating stakeholders on exploration and to responsible mining at the
Morrison River and Georg ina properties; and the anticipated global shift to electric vehicles and green
technologies.
The statements hinge on several assumptions and expected future events: the Company's capability to
conduct timely and cost -effective activities; maintenance of mineral tenures and concessions; managing
economic and financial conditions; navigating exploration and mining hazards; future metal prices;
potential discoveries; obtaining timely exploration permits; monetizing mineral resources; abiding by
environmental laws; dependence on key personnel; and competition in the mining sector.
However, numerous risks could cause actual outcomes to vary significantly from these predictions. These
risks encompass: delays and inflated costs; failure to maintain concessions; inability to address economic
downturns; unexpected operational hazards; metal price fluctuations; regulatory changes; failure to obtain
required permits promptly; inability to realize property potentials or to uphold commitments; and
unforeseen shifts in the global transition to green technologies.
Readers should note the inherent risks in forward- looking statements, understanding that plans or
expectations might not materialize. While such information is deemed reasonable when created, there's
no assurance that the anticipated events will transpire. Changes can occur post the date of this release,
and the Company isn't bound to update these statements, barring any legal obligation.