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Forza Lithium Corp
Symbol FZ
Shares Issued 18,275,000
Close 2023-08-08 C$ 0.10
Market Cap C$ 1,827,500
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Forza samples up to 290 ppm Li, 688 ppm Rb at Jeannette

2023-08-10 14:30 ET - News Release

Mr. Robert Coltura reports

FORZA LITHIUM ANNOUNCES COMMENCEMENT OF WORK AT ITS JEANETTE LITHIUM PROPERTY

Forza Lithium Corp. has completed its June and July, 2023, field programs on its Jeannette lithium property, with plans for an August prospecting program. The property is located approximately 105 kilometres east of the town of Red Lake, Ont., and 80 km northeast of Ear Falls, Ont. A crew of two carried out a seven-day field program in June along logging roads which traverse the property, collecting 16 grab samples. A fly camp was subsequently set up in July on Tarpley Lake for a period of 11 days, during which 29 further grab samples were collected by the crew. An additional prospecting program is planned north of St. Roy Lake in the coming days.

Assays from both the June and July programs have now been received. June sampling returned up to 290 parts per million Li from biotite gneiss in the vicinity of 2022 sampling which had returned up to 244 ppm Li in the central part of the property. This is the highest Li result to date on the property. July sampling on the south side of Tarpley Lake returned up to 259 ppm Li from biotite schist and up to 688 ppm Rb from pegmatite, corresponding to the second-highest Li result to date and the highest Rb result to date on the property.

During the 2022 field program, 113 grab and channel samples were collected. The value of 244 ppm Li was obtained from a sample of biotite gneiss with coarse feldspar-quartz dikelets.

Herein is a description of the regional geology is adapted from the National Instrument 43-101 independent technical report on the Jeannette lithium property (Camier 2022).

The property is located in the east-central portion of the Allison Lake batholith within the Uchi subprovince of the Superior province of the Canadian Shield. The Uchi subprovince is an east-trending granite-greenstone domain between 50 and 70 kilometres in width, extending approximately 700 kilometres from Lake Winnipeg in the west to the James Bay Lowlands.

The Allison Lake batholith is the largest-known fertile, peraluminous granite in northwestern Ontario (Breaks et al. 2003). Rare-element (Li, Cs, Rb, Tl, Be, Ta, Nb, Ga and Ge) pegmatite mineralization associated with S-type, peraluminous granite plutons is distributed over a wide expanse of the Superior province of Northeastern and Northwestern Ontario. Rare element pegmatite mineralization occurs along a 350 km strike length of the Uchi-English River subprovince boundary, from the Sandy Creek beryl pegmatite near Ear Falls to the Lilypad Lake complex-type pegmatite in the Fort Hope area, with three areas of known mineralization in between at Jubilee Lake, Root Lake and East Pashkokogan Lake (Breaks et al. 2003).

The Jeanette lithium property represents an area of high merit for the discovery of additional spodumene bearing pegmatites in an emerging hard-rock lithium district in Northwestern Ontario. The property is located approximately 45 km northwest of Green Technology Metals' Root Lake project, hosting the Root Bay and McCombe lithium deposits with a collective mineral resource estimate (MRE) of 12.6 million tonnes at 1.21 per cent Li2O and 62 ppm Ta2O5. Several other companies have staked claims in the area surrounding the Jeannette property and are actively conducting exploration, including Volta Metals Ltd., Portofino Resources Inc., Lithium One Metals, Beyond Lithium Metals, Westmount Minerals Corp. and Tearlach Resources Ltd.

Forza's president and chief executive officer, Robert Coltura, said, "The company is pleased with the elevated lithium and rubidium results obtained during the 2022 and 2023 field programs so far, and will continue to uncover the property's potential through further fieldwork and analysis."

Qualified person

John Londry, PGeo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the company. The company nor the QP have not completed sufficient work to verify the historical information on the property comprising the Jeanette project, particularly regarding historical exploration, neighbouring companies and government geological work. Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.

About Forza Lithium Corp.

Forza Lithium is a Canadian exploration company with focused expertise on the acquisition, exploration and development of highly prospective lithium properties in North America. The company's flagship project, the Jeanette lithium property, consists of four claims comprising 1,820 hectares and lies 105 km east of the mining community of Red Lake, Ont. The company's strong management team is committed to maximizing shareholder value through new mineral discoveries located in favourable jurisdictions through its strategically located properties.

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