News

Vancouver, British Columbia, June 7, 2023 – Lithium One Metals Inc. (TSXV: LONE and FSE: H490) (the “Company” or “LONE”) is pleased to announce the details of a multiphase work program planned to commence immediately in Ontario and Quebec. The Company has acquired a dominant land package in both lithium districts and will use a strategic approach to advance the projects rapidly through grassroots exploration to drill ready targets. In light of the current forest fire conditions in Quebec, the Company is dedicated to ensuring the safety of its teams and mitigating any potential environmental impacts, and therefore will adapt its operations as necessary. The extensive field program will be aided by detailed outcrop maps developed by LONE earlier this year, which have identified the most prospective areas for ground follow up. Of note, each project is proximal to an existing discovery.  

Program Highlights

• Phase 1: Extensive Field Activities. LONE will initiate an intensive Phase 1 program aimed at covering all 12 lithium project areas within a 12-week timeframe. Experienced, dedicated teams will conduct mapping, prospecting and channel sampling of the pegmatites across the expansive 45,000 hectares of property. Additionally, handheld Laser Induced Breakdown Spectroscopy (LIBS) will be used for infield lithium analysis. LIBS provides quantitative data regarding lithium content that will be used for immediate prioritization of pegmatite target areas.

• Phase 2: Targeted Exploration Activities. LONE’s expert technical team will assess field observations and laboratory results as the program progresses and will proceed with outcrop stripping of the most prospective targets and drilling top priority target areas.

Program Details

Phase 1 of the program will focus on rapidly building a geological understanding of the Company’s properties and identifying the highest priority target areas for Phase 2. This will be achieved by collecting a large database of consistent surface exploration data from which to define target areas. Multiple exploration teams will be deployed over the 45,000 ha land package which is made up of 12 claim groups. The teams will collect mapping, prospecting and channel sampling data aided by handheld LIBS for in the field lithium analysis. Samples will be submitted to AGAT Laboratories for geochemical analysis.

Phase 2 of the program will consist of outcrop stripping and drilling. To accelerate the work programs, comprehensive outcrop detection analysis has already been completed at the Company’s lithium properties using advanced satellite imagery and high-resolution elevation modeling techniques. After training on regional pegmatite data, the outcrops most closely matching pegmatites have been prioritized for exploration.

The Company recognizes the importance of early engagement and ongoing consultation with First Nation's communities. The Company is committed to establishing meaningful relationships and actively involving community perspectives in its project areas.

Figure 1. Location of the Company’s properties in Ontario and Quebec.

The technical content of this news release has been reviewed and approved by Carl Ginn, P.Geo., a director of the Company and a Qualified Person pursuant to National Instrument 43-101.

About Lithium One

Lithium One Metals is a Canadian exploration company specializing in the acquisition and development of high-potential lithium properties in Ontario and Québec. Our team of experienced geologists and prospectors are at the forefront of the search for the next generation of lithium deposits.

On behalf of Lithium One Metals Inc.
Nav Dhaliwal, Chief Executive Officer

For more information, please visit the Company's website at https://lithiumonemetals.com or contact:
Nav Dhaliwal
Tel: +1-604-678-5308
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

WARNING: The Company relies upon litigation protection for "forward-looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.