SUDBURY,
ON, Oct. 1, 2024 /CNW/ - Frontier Lithium Inc.
(TSXV: FL) (FRA: HL2) (OTCQX: LITOF) ("Frontier" or the "Company")
is pleased to announce the voting results from its annual general
meeting of shareholders of the Company (the "Meeting"), which was
held on Monday, September 30, 2024,
at the Company's head office in Sudbury, Ontario, Canada. All meeting matters
put before the shareholders of the Company, and as more fully
described in the Company's Notice of Annual General Meeting of
Shareholders and Management Information Circular, dated
August 23, 2024, were approved by the
requisite majority of votes cast at the Meeting.
A total of 82,619,193 common shares of the Company were voted at
the Meeting, representing approximately 36.30% of the total issued
and outstanding common shares of the Company as of the record date
of the Meeting.
Following the formal portion of the Meeting, the Company
provided a corporate presentation to shareholders. The corporate
presentation and an audio recording of this presentation will be
available on the Company's website and can be found here.
About Frontier Lithium
Frontier Lithium Inc. is a pre-production business with an
objective to become a strategic and integrated 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 PAK Lithium 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 reserves and is the largest
in Ontario 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+
(www.sedarplus.ca).
Forward-looking Statements
This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical fact constitute forward-looking
statements. Forward looking statements contained in this news
release may include, but are not limited to, statements with
respect to: estimated mineral resources, estimated capital costs to
construct mine facilities, estimated operating costs, the duration
of payback periods, estimated amounts of future production,
estimated cash flows, net present value, the DFS and
statements that address future production, resource and reserve
potential, exploration drilling, exploitation activities and events
or developments that the Company expects.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those expressed in the
forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. Risk factors that could cause actual results to
differ materially from those in forward looking statements include:
market prices for commodities, increases in capital or operating
costs, construction risks, availability of infrastructure including
roads, regulatory and permitting risks, exploitation and
exploration successes, continued availability of capital and
financing, financing costs, and general economic, market or
business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and those
actual results or developments may differ materially from those
projected in the forward-looking statements. For more information
on the Company, please review the Company's public filings
available at www.sedarplus.ca.
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.
SOURCE Frontier Lithium Inc.
