The TSX Venture Exchange has accepted for filing documentation the option agreement dated July 31, 2023, between the company and three arm's-length parties. Pursuant to the terms of the agreement, the company has been granted the exclusive option to acquire an undivided 100-per-cent interest in 141 unpatented mining claims located in the Thunder Bay mining division of Ontario (the Rubidium Ridge property). In consideration to exercise the option to acquire the Rubidium Ridge property, the company will provide the vendor with payments of cash and common shares of the company according to the schedule provided in the attached table.

The company will grant to the optionors a net smelter return (NSR) royalty equal to 2 per cent. The company may purchase 50 per cent of the NSR royalty from the vendors at any time for a cash consideration of $1-million.

The optionor will be entitled to a bonus payment of $1-million in cash should the company delineate an inferred resource totalling at least 10 million tonnes at a minimum grade of 1 per cent Li2O.

Insider/pro group participation:  none

Finders' fees:  none

This acquisition is considered an arm's-length transaction.

For further information, please refer to the company's news releases dated Aug. 3, 2023, and Sept. 6, 2023.