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Mosaic Minerals Corp
Symbol MOC
Shares Issued 69,028,071
Close 2023-08-14 C$ 0.08
Market Cap C$ 5,522,246
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Mosaic Minerals acquires 11 mining cells at Abrat SM

2023-08-15 13:22 ET - News Release

Mr. Jonathan Hamel reports


Mosaic Minerals Corp. has acquired from privately held Arlene Explorations Ltd. 11 additional new mining cells in the immediate vicinity of the Abrat SM property, located approximately 50 kilometres east of the municipality of Kangiqsualujjuaq in Nunavik, Quebec.

Now comprised of 164 cells with an area of approximately 7,300 hectares, the Company's 100% owned Abrat SM project is located in an environment conducive to the discovery of spodumene pegmatites. Moreover, nearly 25 outcrops visited by the Quebec Ministry of Natural Resources (MERN) demonstrate the potential presence of a NW-SE pegmatiferous corridor of nearly 22 kilometers. Six samples from outcrops located in this corridor were analyzed by the MERN and the results showed significant values in lithium ranging from 81.9 to 359 ppm, in cesium (from 10 to 49 ppm) and in rubidium (from 95 to 443 ppm) over a distance of more than seven (7) km. Several samples of lake sediments gave results of up to 39 ppm in lithium in the environment of this same pegmatiferous corridor. The presence of lanthanum as well as thorium, yttrium, cerium, molybdenum, and zinc are also noted on this project.

"Only six rock samples taken from different locations by the MERN along a pegmatiferous corridor approximately 20 km long were analyzed, and all revealed significant values of Li, Cs and Rb. Most of this corridor has never been analyzed by the MERN. This increases our confidence to expect to find areas richer in lithium throughout this one. It should also be noted that several Li geochemical anomalies have been detected in the lake sediments," underlined Jonathan Hamel, President, and CEO of Mosaic.

The Company's management estimates that it will be able to complete an initial exploration program on this project by mid-September. The exploration team currently on the Lichen project will be used to get to Abrat SM as soon as possible. Subsequently, the company will redirect its team to its Mirabelli SM project (West of Allkem's James Bay Lithium project) and Maqua SM project (3 km west of Q2 Metals Corporation's Mia Lithium) located in the James Bay area as well as on Lithium SM located in the Quevillon sector, in Jamesie.

The Company acquired these eleven new claims in return of a $10,000 cash payment and the issuance of 500,000 shares of the Company in favor of the seller. The transaction is subject to the approval of the competent authorities.

The technical content of this press release has been reviewed and approved by Mr. Gilles Laverdiere, P.Geo., an independent consulting geologist and a Qualified Person as defined in NI 43-101.

About Mosaic Minerals Corporation

Mosaic Minerals Corp. is a Canadian mining exploration company listed on the Canadian Securities Exchange (CSE: MOC) focusing on the exploration of critical minerals such as Nickel and Lithium in the province of Quebec.

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