Volta Renames Its Main Project as "Aki Project"
Volta Renames Its Main Project as "Aki
Project"
Announces Private Placement Financing to drill test the high
grade Dempster East Gallium and Lithium Pegmatite target
Toronto, Ontario--(Newsfile Corp. - January 30, 2025) -
Volta Metals Ltd.
(CSE: VLTA) (FSE: D0W)
("
Volta
" or the "
Company
") is proud to announce the renaming of the consolidated Falcon West,
Crescent and ZigZag projects to the
Aki Project
. The Anishinaabe word "Aki" means "earth". To the
Anishinaabe people, walking in harmony and balance with the world is extremely important and Volta
Metals wants to honour their connection to land, place, and territory by recognizing their language,
Anishinabemowin, in the naming of the Aki Project.
The 66km
2
Aki Project has six known pegmatites within an 8km strike, with an overall recognized
potential for
11km strike length (Figure 1). The Aki Project hosts the Falcon West pegmatite swarm to
the east with six newly discovered mineralized pegmatites that host high-grade Lithium-Tantalum-
Cesium mineralization with values up to
1.24% Li
2
O over 15.6 meters
with 297.2ppm cesium, and
91.6ppm tantalum, and Dempster East pegmatite to the west, with high grade Gallium, Lithium, Tantalum
and Cesium mineralization with values up to
78.1ppm gallium, 2.98% Li
2
O, 457ppm tantalum and
1,970ppm cesium
respectively (see the Company's January 14, 2025 press release). The Company
plans to drill Dempster East pegmatite as part of the next exploration campaign.
Figure 1. AKI Project in Ontario
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Financing
The Company is also pleased to announce a non-brokered private placement (the "
Offering
") to raise
proceeds of up to $1,000,000. The Offering will be comprised of the issuance of units of the Company
(each, a "
Unit
"), at a subscription price of $0.05 per Unit. Each Unit will be comprised of one common
share of the Company (each, a "
Share
") and one-half of one common share purchase warrant of the
Company (each whole warrant, a "
Warrant
"), with each Warrant entitling the holder thereof to purchase
an additional Share of the Company (a "
Warrant Share
") at an exercise price of $0.10 per Warrant
Share for a period of 24 months from the closing of the Offering.
It is expected that certain directors and officers of the Company (the "
Insiders
") may participate in the
Offering. The participation of Insiders in the Offerings will constitute a "related party transaction" within
the meaning of Multilateral Instrument 61-101 -
Protection of Minority Security Holders in Special
Transactions
("
MI 61-101
"). The Company anticipates relying on exemptions from the minority
shareholder approval and formal valuation requirements applicable to the related-party transactions
under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the
Units to be acquired by the participating Insiders nor the consideration to be paid by such Insiders is
anticipated to exceed 25 percent of the Company's market capitalization.
The Offering is expected to close on or about February 14, 2025 and is subject to certain closing
conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance of
the CSE. The Company expects to use the proceeds of the Offering to follow up on exploration targets
identified from recently announced channel and drill results, geophysical surveys, and geochemical
analyses, and for general corporate and working capital purposes for the Company.
The securities issued under the Offering will be subject to a statutory hold period in Canada of four
months and a day from the date of issuance in accordance with applicable securities laws.
Qualified Person
The technical content of this news release has been reviewed and approved by Andrew Tims, P.Geo.,
who is an independent Qualified Person (QP) as defined in National Instrument 43-101, Standards of
Disclosure for Mineral Projects. The QP and the Company have not completed sufficient work to verify
the historical information on the Properties, particularly regarding historical exploration, neighbouring
companies, and government geological work.
For more information about the Company, view Volta's website at
www.voltametals.ca
.
ABOUT VOLTA METALS LTD.
Volta Metals Ltd. (CSE: VLTA) (FSE: D0W)
is a mineral exploration company based in Toronto,
Ontario, focused on gallium, lithium, cesium, and tantalum. It has optioned and is currently exploring a
critical minerals portfolio of lithium, cesium, and tantalum projects in northwestern Ontario, considered
one of the world's most prolific, emerging hard-rock lithium districts. To learn more about Volta and its
flagship AKI Project, please visit
www.voltametals.ca
.
ON BEHALF OF THE BOARD
For further information, contact:
Kerem Usenmez, President & CEO
Tel: 416.919.9060
Email:
Website:
www.voltametals.ca
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements relating to product development, plans,
strategies, and other statements that are not historical facts. Forward-looking statements are often
identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All
statements other than statements of historical fact included in this news release are forward-looking
statements that involve risks and uncertainties. Forward-looking information in this news release
includes, but is not limited to, statements regarding the anticipated Offerings, including the maximum
size thereof, the expected timing to complete the Offerings, the ability to complete the Offerings on the
terms provided herein or at all, the anticipated use of the net proceeds from the Offerings, the receipt of
all necessary approvals, the use of the gross proceeds of the Flow-Through Private Placement to incur
eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining
expenditures"; the renouncement of the Qualifying Expenditures in favour of the subscribers of the FT
Units, the Company's planned exploration activities and the Company's aim to prevent and minimize
impacts on the First Nations through a variety of mitigation measures and offsetting benefits. There can
be no assurance that such statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations include: the risks detailed from time to
time in the filings made by the Company with securities regulators; the fact that Volta's interests in the
Property are options only and there are no guarantee that such interest, if earned, will be certain; the
future prices and demand for lithium; and delays or the inability of the Company to obtain any necessary
approvals, permits and authorizations required to carry out its business plans. The reader is cautioned
that assumptions used in the preparation of any forward-looking statements may prove to be incorrect.
Events or circumstances may cause actual results to differ materially from those predicted, as a result of
numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the
control of the Company. The reader is cautioned not to place undue reliance on any forward-looking
statements. Such information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary
statement. The forward-looking statements contained in this news release are made as of the date of
this news release, and the Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events, or otherwise, other
than as required by law.
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