Toronto, ON – October 14 2024– Champion ElectricMetals Inc. (CSE: LTHM; OTCQB:CHELF; FSE: 1QB0) (“Champion Electric” or the "Company") applauds the recentlyannounced $6.7 billion acquisition Arcadium Lithium by Rio Tinto.
Thisacquisition demonstrates that Rio Tinto is fully committed to the future demandfor lithium, and Champion Electric expects continued value creation andinvestment interest in Quebec.
JonathanBuick, President and CEO, commented: “The Rio acquisition of Arcadium positionsRio as a top-three producer of EV metals and highlights Quebec as a keyjurisdiction for the energy transition. We believe that investment interest inQuebec will remain strong, and that value creation will stay attractive amongexploration companies that have made significant discoveries. We continue toadvance our exploration and drilling efforts and are confident in deliveringrewards to our shareholders.”
Explorationin James Bay, Quebec
ChampionElectric has made excellent progress throughout phase two of its explorationprogram along the western prospect of the Quebec Lithium Project, located inthe heart of the Eeyou Istchee James Bay territory.
TheCompany’s Quebec Lithium Project is situated near notable lithium occurrences,including Patriot Battery Metals' Shaakichiuwaanaan Project (formerly known asthe Corvette Project) and Winsome Resources' Cancet Discovery. Fieldwork for2024 began northeast of the recent mineralized pegmatite discovery and quicklyprogressed to identify a source for the spodumene found in till samples andboulders. The program included fill-in till sampling (with closer spacing),boulder prospecting, mapping, trenching, and channel sampling, with overburdenclearing at the newly identified boulder field.
Recentwork with an excavator has uncovered large areas of pegmatite dikes beneath theoverburden. The most recent trenching results revealed significant lithiumcontent, with widths of up to 10.5 meters, including 0.96% Li₂O, and 8.5 metersof 1.17% Li₂O.
Thecompany looks forward to receiving analytical results from Phase II drilling atthe Western Prospect in the coming weeks along with spodumene grain counts forthe full complement of 692 till samples collected in 2024. Renewed trenchingand drill target definition will commence in preparation of the 2025 fieldseason.
About Champion Electric Metals Inc.
Champion Electric is a discovery-focused exploration company that iscommitted to advancing its highly prospective lithium properties in Quebec,Canada and cobalt properties in Idaho, United States. In addition, the Companyowns the Baner gold project in Idaho County (optioned to Prestwick CapitalCorporation) and the Champagne polymetallic project in Butte County near Arco. TheCompany’s shares trade on the CSE under the trading symbol “LTHM”, on the OTCQBunder the trading symbol “CHELF”, and on the Frankfurt Stock Exchange under thesymbol “1QB0”. Champion Electric strives to be a responsible environmentalsteward, stakeholder, and contributing citizen to the local communities whereit operates, taking its social license seriously, employing local communitymembers and service providers at its operations whenever possible.
ON BEHALFOF THE BOARD OF CHAMPION ELECTRIC
“Jonathan Buick”
Jonathan Buick, President, and CEO
To learn more, please visit the Company’s SEDAR profile at www.sedarplus.ca or theCompany’s corporate website at www.champem.com.
For further information, please contact:
Investor Relations and Communications
Phone: (+1) 416-567-9087
Email: nkonkin@champem.com
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release. This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by management of the Company, including closing of the Transactions and the prospectivity of the Projects for lithium. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties.