Jarnet Lithium Project

Arbor Metals Corp. > Jarnet Lithium Project

Project Details

The Jarnet lithium project, located in the James Bay region of Quebec, comprises 47 map-designated claims, covering an area of approximately 3,759 hectares. The Jarnet project is contiguous to the Corvette-FCI property, where diamond drilling has confirmed significant lithium mineralization, representing one of the highest-profile lithium exploration projects in the sector.

Preliminary interpretations of geophysics and geological datasets suggest that the Jarnet Lithium Project hosts extensions of lithium trend identified at the Corvette-FCI.

Mark Ferguson, President of the Company, commented “The Jarnet Lithium Project is a great addition to Arbor’s highly prospective projects around the world. The Company is committed to identifying and advancing world class projects that add significant value for the Company’s shareholders.”

The right to acquire the Jarnet Project was granted pursuant to a mineral property option agreement (the “Option Agreement”) entered into with an arms-length vendor. Under the terms of the Option Agreement, the Company can acquire all rights to the Project, subject to a one percent net smelter returns royalty on commercial production to be granted to the vendor, which can be purchased by the Company at any time for a cash payment of $1,000,000. In order to exercise the option and acquire the Project, the Company must make a series of cash payments and incur work expenditures on the Project over a three-year term.

Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.

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