VAL-D'OR, QC, March 8, 2022 /CNW Telbec/ - Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF) (FSE: 1AJ2) (the "Company" or "Vision Lithium") is pleased to announce the arm's length acquisition (the "Transaction") of a 100% undivided interest in 40 contiguous mining claims in the province of Quebec, Canada, which, together with an additional 31 claims staked by the Company, will be collectively referred to as the Decelles property (the "Property"). The Transaction was completed pursuant to the terms and conditions of a definitive property purchase agreement ("Purchase Agreement") entered into between the Company, as purchaser, and Michèle Richard and Gabriel Béland, as vendors. Pursuant to the Purchase Agreement, Vision Lithium will pay to the vendors aggregate cash consideration of $10,000, issue a total of 250,000 common shares of the Company (the "Shares"), and will grant the vendors a 2% net smelter return royalty on the claims comprising the Property acquired from the vendors, one-half of which may be repurchased by the Company for $250,000 (the "NSR Royalty").
The claims acquired from the vendors cover 2,315.5 hectares (23 km2) and, together with the claims staked by the Company, the Property comprises a total of 71 claims covering 4,109.7 hectares (41km2). Two additional claims staked by the Company have not yet been granted. The Property is located approximately 55 km south of Val-d'Or, Quebec and 75 km south-east of the Company's Cadillac Lithium property (Figure 1). The Property is easily accessible year-round by way of well-maintained roads. Property prospecting in 2021 suggests the presence of numerous pegmatitic dikes. No historical exploration for lithium is recorded.
Yves Rougerie, President & CEO commented, "The Decelles claims are an interesting addition to our growing portfolio of lithium properties. The Property is located south of Val d'Or along well maintained secondary roads, ensuring easy access for logistics, materials and qualified manpower. Since our acquisition of the 332-claim Cadillac property, almost 1,300 new claims have been staked by third parties to the East, South and West of our property. The Decelles claims are located at the eastern end of this recent staking frenzy. The whole area is underlain by the Pontiac sediments which are intruded by a wide variety of intrusives. These suites of intrusives are the likely sources of the numerous pegmatites. Differentiating lithium, or LCT dikes, is the job at hand. The Decelles property itself is host to numerous large pegmatitic dikes. No previous exploration for lithium is recorded in the area. We plan to explore the Property starting by prospecting, sampling and analyzing as many pegmatitic outcrops as possible after the thaw. However, a property-wide close-spaced high-resolution airborne magnetic survey (MAG) will be completed in the month ahead."
The Transaction remains subject to the approval of the TSX Venture Exchange (the "TSXV").
The scientific and technical information in this release has been reviewed and approved by Yves Rougerie, Geologist, President and CEO of the Company. Mr. Rougerie is a "qualified person" as defined in NI 43–101.
About Vision Lithium Inc.
Vision Lithium Inc. is a junior exploration company focused on exploring and developing high quality mineral assets including lithium and copper in Canada. The Company is led by skilled and qualified mineral exploration experts and business professionals with a deep understanding of the battery materials market, which is driven by lithium-ion batteries. Vision Lithium is committed to discovering new, world-class assets and bringing these assets to production, starting with its Godslith lithium property located in Manitoba; the Cadillac lithium property; the Sirmac lithium property and the Dôme Lemieux porphyry/skarn copper-zinc property, both located in Quebec; and its skarn and breccia polymetallic Red Brook and Benjamin properties in Northern New Brunswick.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: potential mineralization, the Company's plans for further drilling and exploration, the Company's ability to obtain all required approvals to complete the Transaction, the long-term prospects of the lithium market, and the business and operations of the Company upon completion of the proposed Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks and other factors include, but are not limited to: the historical estimates may turn out to be inaccurate; additional drilling and exploration may lead to a determination that there is no potentially viable mine plan for the Property; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of the Company to execute and achieve its business objectives. There can be no assurance that the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Vision Lithium Inc.
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