2022-10-04 | NDAQ:LITM | Press release

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  • Snow Lake Lithium welcomes LG Energy Solution to Winnipeg, Manitoba, Canada to explore lithium hydroxide processing plant opportunities
  • Snow Lake Lithium is developing the world’s first all-electric lithium mine in Manitoba and has partnered with LG Energy Solution to establish a national lithium supply chain for the North American electric vehicle market
  • Domestically sourced lithium is critical to securing the future of the North American automotive industry
  • Multimedia resources can be downloaded here: https://bit.ly/SnowLakeLithium

MANITOBA, ON/ACCESSWIRE/October 4, 2022/ Canada: Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. (NASDAQ: LITM) (“Snow Lake Lithium”) hosted LG Energy Solution (LGES: KRX 373220) in Manitoba, Canada on September 13e to explore the potential next step toward building a national supply chain for the North American electric vehicle market.

LG Energy Solution’s visit advances collaboration with Snow Lake Lithium which will see the delivery of one of Canada’s first lithium hydroxide processing plants in CentrePort, southern Manitoba. Manitoba Hydro – a hydroelectric power provider in Manitoba – also participated in discussions regarding the supply of sustainable, clean power to the plant in addition to an on-site tour of the proposed facility at CentrePort.

Meetings held at the Manitoba Legislative Building included representatives from Snow Lake Lithium and LGES, as well as Jordan Gaw and Jenny Kang from Invest in Canada and Cliff Cullen, Deputy Premier and Minister of Economic Development, Industry and Commerce. Representatives from the Manitoba Economic Secretariat, the Department of Economic Development, Industry and Trade and the Manitoba Chamber of Commerce were also present.

Manitoba Deputy Premier Cliff Cullen said: “Companies such as LG Energy Solution and Snow Lake Lithium are leading the exploration and development of critical minerals that will be key to helping the world pursue its goal of decarbonization.”

Cullen added“Manitoba has the mineral, energy and human resources to help meet growing global demand and we are very pleased that LG Energy Solution and Snow Lake Lithium have recognized Manitoba’s potential as an excellent place to invest. Our government is committed to ensuring that Manitoba is an ideal place to invest and grow the industries that will lead the energy transition that is transforming the world. »

Philip Gross, CEO of Snow Lake Lithium, said:The visit was a great success and there is a tremendous opportunity here in Manitoba to establish a strong national supply chain for the US automotive industry. Following our exciting collaboration with global leader LG Energy Solution, we are confident that our rock-to-road battery supply chain will help the North American electric vehicle market. »

Canada – a global mining power

With its rich minerals and metals ecosystem, Canada is globally recognized as a world leader in the mining industry. Its commitment to producing minerals the right way, both protecting the environment and ensuring the benefit of local indigenous communities, is unparalleled.

Canada is a natural place to invest in critical minerals that are essential to renewable energy, clean technologies and advanced manufacturing supply chains. Canada is the only country in the Western Hemisphere that has all of the essential minerals needed for electric vehicle batteries, including lithium.

By 2025, Canada is expected to rank third in the world in the production of raw materials needed for electric vehicle batteries.

Snow Lake and Manitoba’s Rich Mining Heritage

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 Manitoba region has a rich mining history, which gives Snow Lake Lithium access to some of the most talented and experienced miners in North America.

The 55,000 acre Snow Lake Lithium site is expected to produce 160,000 tonnes of 6% lithium spodumene per year over 10 years, enough to power 5 million electric vehicles.

Currently, Snow Lake Lithium has explored approximately 1% of its site and is confident that continued exploration will increase estimates over the next year. The planned Snow Lake Lithium mine will be operated on nearly 100% renewable hydroelectric power to ensure the most sustainable approach to lithium manufacturing.

Over the next few months, Snow Lake Lithium will continue its technical evaluation and drilling program at its site, with the expectation that mining operations will transition to targeted commercial production for 2025.

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.

Our wholly-owned Thompson Brothers lithium project now covers a 55,318-acre site that is only 1% explored and contains an identified resource to date of 11.1 million indicated and inferred metric tonnes at 1% Li2O.

About LG Energy Solution

LG Energy Solution (KRX: 373220), a spin-off from LG Chem, is one of the world’s leading manufacturers of lithium-ion batteries for electric vehicles, mobility, computing and energy storage systems. With 30 years of experience in breakthrough battery technology and extensive research and development (R&D), the company is the world’s largest battery-related patent holder with over 24,000 patents. Its strong global network, which spans North America, Europe, Asia and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis NV and Hyundai Motor Group. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting a diverse and inclusive corporate culture. To learn more about LG Energy Solution ideas and innovations, visit https://www.lgensol.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. We base these forward-looking statements on our expectations and projections about future events, which we derive from information currently available to us. 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 Snow Lake Resources Ltd.’s current expectations and are subject to uncertainties, inherent risks and assumptions that are difficult to predict. In addition, certain forward-looking statements are based on assumptions about future events that may not prove to be accurate. These and other risks and uncertainties are described further below. detail in the section titled “Risk Factors” of our registration statements and reports filed 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:

Investors

[email protected]

Media

[email protected]

Twitter: @SnowLakeLithium

www.SnowLakeLithium.com

THE SOURCE: Snow Lake Resources Ltd.

See the source version on accesswire.com:

https://www.accesswire.com/718673/Snow-Lake-Lithium-Hosts-LG-Energy-Solution-as-Part-of-Collaboration-To-Create-a-Lithium-Hydroxide-Processing-Plant

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