Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) one of Ontario’s leading lithium exploration companies, is pleased to announce results from the 4 holes drilled on the Spark pegmatite in 2023, in addition to channel sampling results on what may be a potential western extension of the Spark deposit, situated 1 km away.

Highlights

• DDH PL-133-23 extends a high-grade NW zone of the Spark pegmatite 90 metres west, intersecting 108.4m of continuous pegmatite averaging 2.12% Li₂O.
  • Including 7.6m from 408.9 to 416.5m averaging 3.58% Li₂O
  • Including 6.1m from 482.5 to 488.5m averaging 3.16% Li₂O
  • Including 4.2m from 498.0 to 502.2m averaging 3.36% Li₂O
• DDH PL-100-23 intersects 134.3m of continuous pegmatite, averaging 1.27% Li₂O.
  • Including 16.6m from 65.8 to 82.4m averaging 2.09% Li₂O
  • Including 49.2m from 96.3 to 145.5m averaging 2.25% Li₂O
• Channel samples CH-52 and CH-53 located on an outcrop 1 km west along strike of the Spark deposit returned a combined 18.0m of pegmatite averaging 2.16% Li₂O
  • Including 6m averaging 3.27% Li₂O

“The most recent findings consistently indicate the possibility of expanding the Spark resource both at greater depths and along the geological strike.” says Garth Drever, VP Exploration of the Company. “We are excited about delving deeper into the newly discovered Spark Extension, which has yielded high-grade channel sample values. Although its early stage, there are strong similarities with the high-grade intersection in hole PL-133-23 and the Spark extension channels. Exploring potential connection to the primary Spark deposit is one of our objectives for 2024.”

During the spring season, PL-100-23, PL-101-23, and PL-102-23 were drilled on the SW pod of the main Spark pegmatite with the objective of upgrading material near surface to the indicated category.  The results suggest that the pod primarily consists of aplite with varying lithium grade throughout.  Unfortunately, drilling of PL-102-23 had to be halted as it approached the higher-grade zone due to warming weather conditions.  There are plans to resume drilling in this hole during the upcoming winter season.

Additionally, PL-133-23 was stepped out 90m to intersect the Spark pegmatite at greater depth, confirming a steep NW plunge and expanding the high-grade lithium zone.  This zone with elevated assay values give hope that it may be approaching a more evolved section of the pegmatite representing a higher level of fractionation and the potential for a tier 1 technical grade zone similar to the PAK deposit.

Figure 1 is a plan-view map highlighting the Spark deposit and nearby Spark Extension to the west. Drillhole traces are displaying major lithological features for all holes and surface channels plus lithium assay results that have been released. Figure 2 is a 3D rendering from the Pre-Feasibility Study Spark model with transparency showing drill hole traces and details on the 4 holes being reported.

Table 1 details the drill holes and channels with mineralized intersections from the Spark area while Tables 2 and 3 respectively summarize all drill holes completed at Bolt and Spark and the channels completed at the Spark Extension in 2023.

Issuance of Stock Options

The Company also announces that pursuant to its Stock Option Plan, which was approved by shareholders at the Company’s annual general meeting of shareholders on September 13, 2023, 422,500 stock options have been granted to certain employees, officers, directors, and strategic advisors of the Company. The options are set for a period of five years, expiring on September 25, 2028, have an exercise price of $1.10, and are subject to regulatory and TSX Venture Exchange approval.

Due Diligence

All scientific and technical information in this release has been reviewed and approved by Garth Drever, P.Geo., the qualified person (“QP”) under the definitions established by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.  Under Frontier’s QA/QC procedures, all drilling was completed by Chenier Drilling Ltd. of Val Caron, Ontario using thin walled BTW drill rods (4.2 cm core diameter) and a Reflex ACT III oriented core system. Using the Reflex system, the drill core was oriented and marked as it was retrieved at the drill.  A Reflex GYRO Sprint-IQ survey instrument was used every 50m downhole and again at the end of each hole when rods were pulled out.  A Reflex North Finder APS unit was utilized to complete accurate positioning and orientation of the drill collar upon setup. The core was boxed and delivered to the Frontier core shack where it was examined, geologically logged, and marked for sampling. The core was photographed prior to sampling.  Using a rock saw, the marked sample intervals were halved with one-half bagged for analysis. Sample blanks along with lithium, rubidium and cesium certified reference material was routinely inserted into the sample stream in accordance with industry recommended practices. Field duplicate samples were also taken in accordance with industry recommended practices. The samples were placed in poly sample bags and transported to Red Lake, Ontario by float plane and then shipped to AGAT Laboratories Ltd. (AGAT) in Thunder Bay, Ontario for sample preparation and to Mississauga, Ontario for processing and quantitative multi-element analysis. AGAT is an ISO accredited laboratory. The core is stored on site at the Company’s Pakeagama Lake exploration camp.

About Frontier Lithium

Frontier Lithium Inc. is a preproduction business with an objective to become an integrated strategic domestic supplier of spodumene concentrates for industrial users as well as battery-grade lithium hydroxide and other chemicals to the growing electric vehicle and energy storage markets in North America. The Company’s sole project maintains the largest land position and resource in a premium lithium mineral district located in Ontario’s Great Lakes region.

About the PAK Lithium Project

The PAK lithium project contains North America’s highest-grade lithium resource and is the second largest in North America by size. The project encompasses close to 27,000 hectares and remains largely unexplored; however, since 2013, the company has delineated two premium spodumene-bearing lithium deposits (PAK and Spark), located 2.3 kilometres apart. Exploration is continuing on the project through two other spodumene- bearing discoveries: the Bolt pegmatite (located between the PAK and Spark deposits), as well as the Pennock pegmatite (25 kilometres northwest of PAK deposit within the project claims). A 2023 Pre-Feasibility Study “National Instrument 43-101 Technical Report PFS PAK Lithium Project” by BBA E&C Inc., delivered a 24- year project life, delivering a post-tax NPV(8%) of US$1.74 billion and IRR of 24.1% as per the press release disseminated on May 31, 2023, and was filed on Sedar.com.

Figure 1: Planview map highlighting the four 2023 holes drilled at Spark and the two channels cut at the Spark Extension to the west. (CNW Group/Frontier Lithium Inc.)

Figure 2: Spark model showing drill hole and channel traces and detail for the 4 holes reported. (CNW Group/Frontier Lithium Inc.)