Westmount Executes Otatakan & Pilot East, Ontario Lithium Property Agreement
Suite 520 – 470 Granville St
Vancouver, BC, Canada V6C 1V5
Telephone: 604-683-1991
Fax: 604-683-8544
www.westmountminerals.com
WESTMOUNT EXECUTES OTATAKAN AND PILOT EAST, ONTARIO LITHIUM
PROPERTY AGREEMENTS
Vancouver, British Columbia, October 12, 2022 : Westmount Minerals Corp . (" Westmount" or
the "Company") (CSE: WMC) is pleased to announce it has executed property option agreements
for two prospective lithium claim groups. The Otatakan and E ast Pilot lithium properties total
5,002 hectares in size (the “Properties”) and are located within the Red La ke Mining Division of
northwestern Ontario. Both Properties are located east of Ear Falls, Ontario with good all-weather
and logging road access (Figure 1).
In addition, t he Properties are between 21 a nd 32 kilometers (“km”) southwest of Green M etals
Technology (ASX:GT1) Root Lithium property where a 24,000 metre drilling program for resource
definition has commenced with extensional and step -out target drilling (GT1 news-August 8,
2022). GT1 also recently announced a strategic collaboration agreement with Lithium Americas
Corp. to build an integrated lithium chemicals business throughout North America utilizing GT1’s
Canadian lithium assets. (GT1 news- Sept. 20, 2022)
Figure 1. Regional location and access to the Properties.
The Properties have many geological attributes that make them attra ctive to host rare -element
pegmatites (Li, Cs, Ta, Rb) (Figure 2) that include:
• A muscovite -bearing granite is hos t to both Properties, an S -type peraluminous fertile
parental granite according to a 2003 Ontario Geological Survey (“Breaks et al., 2003”)
and in contact with metasediments which are excellent hosts for rare -element
pegmatites.
• Located less than 20 km f rom a n Archea n-age terrane boundary between the English
River Subprovince and the Uchi Subprovince which reportedly has an integral relationship
to lithium occurrences and deposits of northwestern Ontario (Breaks et al., 2003)
• 1959 Ontario Geological Survey (“OGS-1959”) lakeshore mapping of large lakes in the
eastern part of the English River Subprovince identified grey p egmatites, pegmatitic
granites and beryl and/or tourmaline occurrences (ODM Maps 1959-1).
• Elevated Li and Cs -lake sediment samples by the OGS -1959 of 1 -21.5 ppm on the
Otatakan claim group and 2.1-27.98 on East Pilot claim group.
Figure 2. Regional geology of the Properties.
David Tafel, CE O of W estmount commented: “We are excited to acquire the se 2 critical metal
Properties for Westmount. The English River Subprovince has historically been ignored for it s
lithium potential despite the overwhelming geological and geochemical evidence to the contrary.
GT1’s drilling activity to the northeast brings much anticipation to the area. We expect to have our
geological team on the ground very shortl y to commence mapping and sampling of both
Properties.”
Transaction Terms
The Company has the right to acquire a 100% interest in the Properties by making staged
payments over 3 years totaling $163,400 and issuing one million common shares. The Optionors
retain a 1.5% net smelter returns royalty (“NSR”) and the Company has the right to buy back
0.05% for $ 500,000 pe r property . The agreement is subject to the approval of the Canadian
Securities Exchange.
Qualified Person
The technical content of this news release has been reviewed and approved by Mike Kilbourne,
P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of
Disclosure for Mineral Projects. The QP and the Company have not completed sufficient work to
verify the historic information on the Properties, particularly regarding historical exploration,
neighbouring companies, and government geological work.
About Westmount Minerals Corp.
Westmount is focused on mineral exploration in the America s. The Company is advancing the
Douay East gold property located within the greater Abitibi Greenstone Belt region in Quebec to
the drill stage and continues to evaluate other promising exploration opportunities.
On Behalf of the Board of Directors
David Tafel
Chief Executive Officer and Director
For further information, please contact:
David Tafel
Chief Executive Officer and Director
(604) 683-1991
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the polic ies
of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release in cludes certain forward-looking statements and forward -looking information (collectively, "forward -
looking statements") within the meaning of applicable Canadian securities legislation. A ll st atements, other than
statements of historica l fact, included her ein inc luding, without limitation, statements regarding future capital
expenditures, anticipated content , commencement, and cost of exploration programs in respect of the Company's
projects and mineral properties, anticipated exploratio n program results fr om expl oration activities, resources and/or
reserves on the Company's projects and mineral properties, a nd the anticipated business plans and timing of future
activities of the Company, a re forward-looking statements. Although the Comp any believes that su ch statements are
reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward
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words including negative variations thereof, and phrases that refer to ce rtain actions, events or results that may, could,
would, might or wil l occur or be taken or achieved. In making the forward -looking statements in this news release, the
Company has applied several material assumptions, including without limitation, that market fundamentals will result in
sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory
approvals in connection with the future exploration of the Company's properties, that the COVID -19 global pandemic
will not affect the ability of the Compa ny to conduct future exploration of the Company's properties , the availability of
financing on suitable terms, and the Company's ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, u ncertainties and other factors which may cause the
actual results, performance or achievements of the Company to differ materially from any future results, performance or
achievements expressed or implied by th e forward-looking statements. Such risks and other factors include, among
others, statements as to the anticipated business plans and timing of future activities of the Com pany, including the
Company's option to acquire the Douay East Project, the proposed expenditures for exploration work thereon, the ability
of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governm ental
and regulatory approvals (including of the Canadian Securities Exchange), per mits or financing, changes in laws,
regulations and policies affectin g minin g operations, risks relating to epidemics or pandemics such as COVID –19,
including the impact of COVID–19 on the Company's business, financial condition and results of operations, the
Company's limited operating history, curre ncy fluctuations, title disputes or claims, environmental issues and liabilities,
as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated February 14,
2022, and other filings of the Company with the Canadian Se curities Authorities, copies of which can be found under the
Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward -looking statements. The Compa ny undertakes no
obligation to update any of the forward-looking statements in this news release except as otherwise required by law.