Mr. Marc Branson reports

WEEKAPAUG LITHIUM SET TO BEGIN PHASE ONE EXPLORATION AT NAKINA PROPERTY IN THE SEYMOUR LAKE LITHIUM CAMP - NORTHWEST ONTARIO

Weekapaug Lithium Ltd. is set to commence its phase 1 exploration program at its 100-per-cent-owned Nakina lithium property adjacent the rapidly advancing Seymour Lake lithium program. The comprehensive multiphase plan aims to further determine the property's economic potential.

Nakina property overview

The property is road accessible via the seasonal Maun Lake forest access road. The property is located approximately 90 kilometres north of the town of Geraldton and 300 kilometres northeast of Thunder Bay. The property covers 7,390 hectares over 360 mineral tenures within the northern Thunder Bay mining division. The property is underlain by a 10-kilometre-by-13-kilometre granitic body (the Maytham-Queenston lakes pegmatitic pluton) of the western Archean Superior province, noted to contain lithium-bearing pegmatites in historical bedrock mapping and minerology reports. The property is located within the highly advanced Green Technology Metals Seymour project area and directly adjacent the Superb Lake lithium prospect. To date, there has been no industry or systematic exploration coverage over the claim area making for a highly prospective grassroots project.

Phase 1 exploration

The company has engaged Planet X Exploration Services Ltd. to undertake the lithium exploration program. Phase 1 is expected to last two months and begin on July 1, 2023. Initial exploration and mapping will investigate the mineralization potential of S-type granites and lithium-cesium-tantalum (LCT) pegmatites. Prefield work will identify priority areas for mineralization based on lithological and structural characteristics. This stage will involve a detailed review of existing geological maps and reports, as well as the compilation of current and historical data. Based on this analysis, areas of focus will be targeted for fieldwork and necessary permitting and logistical preparation will be completed.

Fieldwork will involve mapping and prospecting to collect geological and geochemical data for occurrence identification, and to delineate pegmatites and identify LCT targets. The prospecting phase will be further broken down into reconnaissance, initial sampling, detailed geological mapping and coverage of prospective areas with soil and till geochemical sampling. Collected samples will be analyzed to quantify the potential for economic lithium mineralization.

Aim of phase 1

The geology around the property has yet to undergo systematic geological and mineralogical work directed at mineralization associated with the local rare-element pegmatites and related S-type peraluminous granites. Interest in the type of pegmatitic granite that underlies the property has only recently come to the forefront, with the growth of the rare-element market. Phase 1 will generate a comprehensive report and data set, including detailed and concise maps, figures and images building on recently collected and historical data. Combined with geochemical sample results, comprehensive data will be used to produce a phase 2 target-generation model for further evaluation and testing.

Quote from ceo on project advancement

"We are thrilled to commence our phase 1 program; this is an important milestone for the company. With our amalgamation complete, Weekapaug is fully dedicated to exploring the economic potential of LCT pegmatites at Nakina. We have partnered with exploration service provider Planet X to help us define our phase 1 targets while adhering to the highest responsibility and sustainability standards," said Marc Branson, chief executive officer and director

Geological setting of the property

The English River terrane underlying the property is a metasedimentary-dominated zone regarded as an accretionary complex or fore-arc basin that underwent deformation between the metavolcanic-rich Uchi subprovince and the orthogneiss-and-metaplutonic-dominated Winnipeg River (Wabigoon) subprovince, during a prolonged transpressive orogeny. The area has two types of granites: fertile peraluminous pegmatitic granite and barren granite, with the former situated along the Wabigoon-English River subprovince boundary hosted by clastic metasedimentary rocks, while the latter is located in migmatites and tonalite to the north of the fertile granites, farther away from the subprovince boundary zone.

The Maytham-Queenston Lakes pluton, which underlies the property, is composed of peraluminous, massive, undeformed granites, containing coarse muscovite, pink to lilac garnets and small enclaves of metasedimentary rocks. Radiating fans of green plumose muscovite-quartz intergrowths, graphic blocky potassium feldspar-quartz, local graphic tourmaline-quartz and garnet-green muscovite aplite layers have also been observed, indicating the potential for fertile pegmatites. These granites are typical parental bodies to rare-element and lithium-bearing pegmatite dikes documented along the Wabigoon-English River subprovince boundary. The Maytham-Queenston Lakes pluton bears resemblance to fertile pegmatitic granites observed elsewhere, suggesting it could represent the parent body to considerable, undiscovered lithium and rare-metal-bearing pegmatite dikes.

Qualified person

Stephen Amor, PhD, PGeo, a qualified person in accordance with National Instrument 43-101, has reviewed and accepted the technical material contained in this news release.

About Weekapaug Lithium Ltd.

Weekapaug is dedicated to exploring and developing its 100-per-cent-owned Naikina Li property in Northern Ontario, Canada.

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