2022-06-07 | NDAQ:LITM | Press release

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  • Snow Lake Lithium and the University of Manitoba are undertaking a research project to explore the critical mineral inventory of Snow Lake LithiumMT to place
  • The results of the two-year project are expected to help shape the development of Canada’s future minerals and metals strategy to meet the growing demand for lithium
  • Snow Lake Lithium is developing the world’s first all-electric lithium mine to enable domestic supply of this critical resource to the North American electric vehicle industry

WINNIPEG, MB /ACCESSWIRE/June 7, 2022/ Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. (NASDAQ: LITM) (“Snow Lake Lithium” or the “Company”), a lithium resource company committed to operating the world’s first all-electric lithium mine, today announced the collaboration with the University of Manitoba to build understanding of the lithium deposits at Snow Lake and to support the development of a framework to help shape Canada’s future minerals and metals strategy.

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. As a global mining power, Canada is uniquely positioned to meet this growing global demand for critical minerals like lithium. Led by Dr. Mostafa Fayek of the University’s Faculty of Environment, Land and Resources, the two-year research project between Snow Lake Lithium and the University of Manitoba will provide considerable inventory information society’s critical mineral and the most effective exploration strategies to extract lithium. company’s Snow Lake LithiumMT website in the future.

Philip Gross, CEO of Snow Lake Lithium, said, “We are thrilled to be collaborating with world-class scholars and students at the University of Manitoba and leveraging their vast experience in this field. The research will provide us with important information about the mineralogy at our site, which we believe will have a significant impact on the development of our future operations to ensure national supply chain and energy security for North American industry. electric vehicles. and, alongside this research project, we are exploring the possibilities of establishing a joint analytical laboratory to reduce the time required to carry out exploration and production analyzes in the future. »

Dr Mostafa Fayek, from the University’s Faculty of Environment, Land and Resources, said: “This exciting project gives our students the opportunity to gain real-world experience alongside geologists. experienced Snow Lake Lithium. We hope our research will provide important information on the mineral inventory and identify a geochemical fingerprint for the lithium-rich pegmatites found at the Snow Lake Lithium site, which will help establish Canada’s position at the forefront. lithium extraction. »

Based in Manitoba, Canada, Snow Lake Lithium is developing the world’s first all-electric lithium mine to enable domestic supply of this critical resource to the North American electric vehicle industry.

Snow Lake Lithium is ideally located to serve the North American automotive industry with access to the US rail network via the Artic Gateway Railroad, reducing transportation from thousands of miles by road and boat to just a few hundred by train .

The 55,000-acre Snow Lake Lithium site is expected to produce 160,000 tonnes of 6% lithium spodumene per year over a 10-year period. Currently, Snow Lake Lithium has explored approximately 1% of its site and is confident that further exploration will increase estimates over the next year. The Snow Lake Lithium mine will be operated on nearly 100% renewable hydroelectric power to ensure the most sustainable manufacturing approach.

Over the next few months, Snow Lake Lithium will continue its technical evaluation and drilling program at its Snow Lake Lithium site.MT Project site, with the expectation that mining operations will transition to commercial production in late 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 North American electric vehicle and battery markets. We not only aspire to set the standard for responsible lithium mining, but we aim to be the first lithium producer in the world to achieve Certified Company B status in the process.

Our exclusive property Snow Lake LithiumMT The project now 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.

About the University of Manitoba

The University of Manitoba is the first university in Western Canada, established in 1877 and located on the original lands of the Anishinaabeg, Cree, Oji-Cree, Dakota and Dene peoples, and the homeland of the Métis Nation. The university is Manitoba’s only research-intensive university and one of the country’s top research institutions. There are over 31,000 undergraduate and graduate students and over 181,000 alumni living in 139 countries. To learn more about the University, please visit https://www.umanitoba.ca/about-um

The Department of Earth Sciences at the University of Manitoba offers a range of undergraduate and graduate programs in geology and geophysics. He has a well-established national and international research reputation with strengths in geochemistry, mineralogy, sedimentary geology and paleontology. Within the Department, the Manitoba Isotope Research Facility (MIRF) has over $10 million worth of equipment housed in large multi-user laboratories. To learn more about MIRF, please visit https://www.manitoba-isotope-research-facility.com/.

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 e 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.

For more information please contact:

[email protected]

[email protected]

www.SnowLakeLithium.com

Twitter: @SnowLakeLithium

LinkedIn: https://www.linkedin.com/company/snow-lake-resources

THE SOURCE: Snow Lake Resources Ltd.

See the source version on accesswire.com:

https://www.accesswire.com/704005/Snow-Lake-Lithium-Collaborates-with-University-of-Manitoba

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