2022-04-11 | NDAQ:LITM | Press release

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  • Snow Lake Lithium has commissioned a scoping study to assess the proposed lithium hydroxide plant in southern Manitoba
  • The scoping study is the next important step in Snow Lake Lithium’s ambitions to secure the domestic supply of lithium hydroxide to the North American electric vehicle industry.
  • Located just 700 km from the Snow Lake Lithium Mine, CentrePort Canada, the proposed plant location, is conveniently located with direct access to North American automakers by air, rail and road.
  • Snow Lake Lithium is working in partnership with the Province of Manitoba, CentrePort and Primero to complete the scoping study

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WINNIPEG, MB /ACCESSWIRE/April 11, 2022/ Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. (NASDAQ:LITM) (“Snow Lake” or the “Company”), has commissioned an exploratory study to assess the proposed development of a lithium hydroxide plant in southern Manitoba. The study is a strategically important step toward creating North America’s first all-renewable, all-electric integrated lithium processing operation, which is critical to the future of the electric vehicle industry.

Beginning in April 2022, the scoping study will accelerate the commercialization of lithium production from the Snow Lake Lithium mine and proposed lithium hydroxide plant at CentrePort Canada in southern Manitoba. The study will identify the technologies, innovations, skills and potential partners needed to deliver a world-class lithium hydroxide plant in the province of Manitoba.

Welcoming the study, Manitoba Premier, the Honorable Heather Stefanson, said, “Manitoba has an opportunity to be at the forefront of the global initiative to achieve a carbon neutral economy. carbon. With our abundant natural resources and clean energy, we are uniquely positioned to play a strategic role for the province in the North American electrification supply chain. Snow Lake Lithium’s vision for developing a green ecosystem in our province will provide Manitoba with the platform to create jobs and value with a focus on the future.

With the rapid growth in demand for electric vehicles, the global automotive and energy storage industries will compete for access to raw materials, especially lithium, which is a crucial component of batteries.

Just 700 km from CentrePort Canada, Snow Lake Lithium is creating the world’s first all-electric, fully renewable lithium mine. The addition of a lithium hydroxide plant will allow the seamless integration of the national supply of this critical resource to the North American electric vehicle industry.

Philip Gross, CEO of Snow Lake Lithium, said, “This is a critical opportunity for Manitoba to play an important role in creating a comprehensive ecosystem to support North American fleet electrification. Now more than ever, we must commit to securing our critical domestic raw materials that will protect our jobs from geopolitical shocks and ensure the uninterrupted growth of our industries as we transition to a post-carbon economy. has no production to back up substantial industry commitments to electrification. Snow Lake is committed to being part of the solution while ensuring the highest standards of carbon-neutral, fully renewable lithium.

The proposed location for the plant is CentrePort Canada, the largest trimodal inland port and foreign trade zone in North America. CentrePort Canada connects to major national and international trade gateways and is the only inland port in Canada with direct access to trimodal transportation – road, rail and air freight. This unique location means Snow Lake Lithium is connected to all major automakers in North America, reducing supply chain costs and emissions and providing a secure and transparent lithium supply chain from the rock to the road. CentrePort Canada offers 20,000 acres of high quality, affordable industrial land and benefits from its strategic geographic location in Winnipeg, Manitoba and the Rural Municipality of Rosser in the Winnipeg Capital Region.

“CentrePort Canada is well positioned to support Snow Lake’s ambition to create a Manitoba-centric electric vehicle supply chain,” said Diane Gray, President and CEO of CentrePort Canada Inc. CentrePort Canada’s centralized location, access to tri-modal transportation, state-of-the-art infrastructure and green energy all align with Snow Lake’s electric vehicle supply chain vision and will have a significant impact on job creation and economic growth in Manitoba. »

Snow Lake Lithium engaged Primero to complete the lithium hydroxide plant scoping study in southern Manitoba. Primero brings world-class hands-on lithium experience through its vertically integrated project management in the global resource industry.

Primero’s General Manager for the Americas, Alexandre Roy, said, “The deployment of lithium conversion facilities in North America is the first step towards establishing a national supply chain capable of supporting the process. electrification in progress. We look forward to working with Snow Lake and the Government of Manitoba in the design and development of this exciting project. »

Snow Lake Lithium currently has an indicated and inferred resource of 11.1 million metric tonnes at 1% Li2O with resource expansion plans based on the current active drilling campaign, as previously announced in the recent winter drill program update (March 10, 2022 – Snow Lake Announces Important Update on Winter Drilling Campaign Progress).

The scoping study will begin in April 2022 and is expected to be completed by spring 2023. At the same time, Snow Lake Lithium will continue its technical evaluation and drilling program at the Thompson Brothers Lithium project site, in the hope that the mine transition to commercial production at the end of 2024.

About Snow Lake Resources Ltd.

Snow Lake Lithium is committed to creating and operating a fully renewable and sustainable lithium mine that can provide a fully traceable, carbon neutral and safe product for the electric vehicle and battery markets. We not only aspire to set the standard for responsible lithium mining, but we intend to be the first lithium producer in the world to achieve Certified Company B status through the process.

Our wholly owned Thompson Brothers Lithium Project covers a 55,318 acre site that has only been 1% explored and contains an identified resource to date of 11.1 million indicated and inferred metric tonnes at 1% Li2O.

Forward-looking statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements in this press release can be identified by the use of words such as “anticipate”, “believe”, “intend”, “could”, “estimate”, “expect”, “have the ‘intent to’, ‘seek,’ ‘may’, ‘could’, ‘plan’, ‘potential’, ‘predict’, ‘project’, ‘target’, ‘aim’, ‘should’, ‘will’, ‘ would” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the current expectations of Snow Lake Resources Ltd. and are subject to uncertainties, inherent risks and assumptions that are difficult to predict and include statements regarding the intended use of proceeds and expected closing. In addition, certain forward-looking statements are based on assumptions about future events that may not prove to be accurate. These risks and uncertainties, as well as others, are described more th n detail in the section entitled “Risk Factors” of the final prospectus relating to our public offering filed with the Securities and Exchange Commission and other documents and reports that we file with the Securities and Exchange Commission. The forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. assumes no obligation to update this information, except as required by applicable law.

Contact: [email protected]

www.SnowLakeLithium.com

Twitter: @SnowLakeLithium

THE SOURCE: Snow Lake Resources Ltd.

See the source version on accesswire.com:

https://www.accesswire.com/696836/Manitoba-Celebrates-Snow-Lake-Lithiums-Study-to-Establish-Strategically-Crucial-Plant-in-Province

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