Vision Lithium Options Cadillac LI Thium Property to ASX-Listed Olympio Metals
VISION LITHIUM OPTIONS CADILLAC LI THIUM PROPERTY TO ASX-LISTED
OLYMPIO METALS
Val-d’Or, Québec, August 1, 2023 – Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF) (FSE: 1AJ2)
(the “Company” or “Vision Lithium”) reports that it has signed an option agreement (“Agreement”) with
Olympio Metals (ASX: OLY) (“ Olympio”) of West Perth, Australia whereas Olympio can acquire an
undivided 100% interest in the Cadillac Lithium prope rty over a one-year period. The property is easily
accessed less than 20km South of the Northern Tr ans-Canada highway between Rouyn-Noranda and Val
d’Or in the heart of the Abitibi mining region in northwestern Quebec, Canada.
Yves Rougerie, President & CEO of Vision Lithium comments: “We are very pleased to partner with
Olympio Metals to advance the Cadillac project. The known mineralized lithium dikes on the property
exhibit good continuity and grade which suggests exce llent potential for positive results from additional
drilling as well as new discoveries elsewhere on this very large property. Its location in the heart of the
Quebec Abitibi mining region is also a distinct adva ntage whereby exploration costs will be much lower
than more northern projects.”
Subject to the terms and conditions of the Option Agreement, Olympio Metals agrees to pay the following
consideration to Vision Lithium for the acquisition of the Assets under the Option:
Upfront consideration of:
• C$500,000 in cash; and
• 10,000,000 fully paid ordinary shares of Olympio Me tals to be paid and issued within 5 Business
Days after the receipt of the approvals; and
• C$500,000 in cash to be paid within 30 days of the Approval Date.
The following amounts to be paid and/or expended before one year:
• C$500,000 in cash; and
• a further C$500,000 in cash (as further reimbur sement for exploration expenditure incurred by
Vision Lithium during the period of its ownership of the Property); and
• Olympio having incurred at least C$500,000 in Expenditures on the Property during the Option
Period.
The Agreement is subject to Olympio fulfilling all thei r financial and other obligations set out within the
Agreement, Olympio will only then own 100% of the Assets.
The Cadillac Lithium property hosts a series of close-spaced, steeply dipping sub-parallel
spodumene/lithium bearing dikes in the northern part of a 190 km 2 property. First time drilling in 2022
demonstrated strike and depth continuity of the known dikes and returned high grade intercepts up to 2.13%
Li2O over 3.0m and 1.00% Li 2O over 6.4m. Groundwork also discovere d several more sub-parallel dikes
in the same cluster that have yet to be explored and drilled. First year greenfield lithium exploration on this
very large property in 2022 targeted many of the 500+ LiDAR-interpreted linear structures that may
represent pegmatite dikes. Several areas of interest were tagged for follow-up work in 2023 and more
ground proofing has yet to be done property wide.
This agreement will allow Vision to concentrate on its other major lithium exploration properties, the
Sirmac property in Northern Quebec near Sayona’s Moblan deposit, and the Godslith property in Northern
Manitoba. Both host impressive mineralized lithium b earing dikes with strong economic potential. Vision
published an NI 43-101 PEA for the Sirmac property in February 2023 and will concentrate on this project
going forward in 2023.
Qualified Person
The technical content of this news release has been reviewed and approved by Yves Rougerie, P.Geo.,
President and CEO of Vision Lithium a qualified person as defined by NI 43-101.
The information regarding potential grades presented herein is sourced from a SEDAR filing of the
Company’s MD&A for the year-end period terminated August 31, 2022. The potential grades of exploration
targets disclosed in this news rel ease are conceptual in nature. There has been insufficient exploration to
define a mineral resource and it is uncertain if furthe r exploration will result in the target being delineated
as a mineral resource.
About Vision Lithium Inc.
Vision Lithium Inc. is a junior exploration comp any focused on exploring and developing high quality
mineral assets including lithium and copper in Canada. The Company is led by skilled and qualified mineral
exploration experts and business prof essionals with a deep understanding of the battery materials market,
which is driven by lithium-ion batteries. Vision Lith ium is committed to discovering new, world-class
assets and bringing these assets to production, starting with its advanced Sirmac lithium property in Quebec
and Godslith lithium property located in Manitoba; its Cadillac and Decelles lithium properties in Quebec,
and a group of base metal rich Ni-Cu-Co and/or Cu-Zn-Ag-Au properties in Eastern Quebec and New
Brunswick.
For further information on the Company, please visit our website at www.visionlithium.com or contact us
For additional information, please contact:
Victor Cantore
Executive Chairman
Tel: +1-514-831-3809
Email: [email protected]
Yves Rougerie
President and Chief Executive Officer
Tel: +1-819-316-0474
Email: [email protected]
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 RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: All statements,
other than statements of historical fact, contained in this press release including, but not limited to those
describing the impact of the foregoing on the Sirmac Project economics, PEA results (as such results are
set out in the various tables featured above, and are co mmented in the text of this press release), including
CAPEX, OPEX, NPV and IRR, the estimated value of the Sirmac Project, operations development
scenarios for the Sirmac Project, commercial and tec hnical parameters, the attractive economics for the
Sirmac Project, life-of-mine plans, market trends, future lithium prices, the impact of the Sirmac Project on
the local communities, including job creation, the tim elines and costs related to the various initiatives,
deliverables and milestones described in this news release and their expected results, the Company’s
expected financial and operational performance, the natu re of relationships with stakeholders such as the
local community including the Mistissini Cree Fi rst Nation, mineral resource estimates (including
assumptions and estimates used in preparing the mi neral resource estimates), the general business and
operational outlook of the Company, the Company’s future growth and business prospects, the Company’s
initiatives and goals, and those stat ements which are discussed under th e “About Vision Lithium Inc.”
paragraph and elsewhere in the news release wh ich essentially describe the Company’s outlook and
objectives, constitute “forward-looking information” or “forward-looking statements” (collectively,
“forward-looking statements”) within the meaning of applicable Canadian securities laws, and are based
on expectations, estimates and projections as of the time of this news release. Forward-looking statements
are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the
Company as of the time of such statements, are inhe rently subject to significant business, economic and
competitive uncertainties and continge ncies. These estimates and assumpti ons may prove to be incorrect.
Moreover, these forward-looking statements were based upon various underlying factors and assumptions,
including the current technological trends, the business relationship between the Company and its
stakeholders, the ability to operate in a safe and eff ective manner, the timely delivery and installation at
estimated prices of the equipment supporting the production, assumed sale prices for DSO, the accuracy of
any mineral resource estimates, future currency exchange rates and interest rates, political and regulatory
stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party
approvals, licenses and permits on favorable terms, sustained labor stability, stability in financial and capital
markets, availability of equipment and critical supp lies, spare parts and consumables, the various tax
assumptions, CAPEX and OPEX estimates, the Sirmac Project permits’ status, all economic and operational
projections relating to the project, local infrastructures, the Company’s business prospects and opportunities
and estimates of the operational performance of th e equipment, and are not guarantees of future
performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual
results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors
that could cause actual results or events to diffe r materially from current expectations include, among
others, delays in the scheduled delivery times of eq uipment, the ability of th e Company to successfully
implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the
availability of financing or financing on favorable terms for the Company, the dependence on commodity
prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating
performance of the Company’s assets and businesses, competitive factors in the lithium mining and
production industry, changes in la ws and regulations affecting the Company’s businesses, political and
social acceptability risk, environmental regulation ri sk, currency and exchange rate risk, technological
developments, the impacts of the global COVID-19 pandemic and the governments’ responses thereto, and
general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks
and general business risks. Unpredictable or unknown factors not discussed in this cautionary statement
could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can direc tly or indirectly affect, and could cause, actual
results to differ materially from those expressed or implied in any forward-looking statements. There can
be no assurance that forward-looking statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Forward-looking statements are provided
for the purpose of providing information about management’s expectations and plans relating to the future.
The Company disclaims any intention or obligation to update or revise any forward-looking statements or
to explain any material difference between subsequent actual events and such forward-looking statements,
except to the extent required by applicable law.