Canada NewsWire

SUDBURY, ON , Aug. 10, 2023 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) ("Frontier" or "the Company"), Ontario's leading lithium developer, is pleased to announce drilling results on 4 additional holes drilled on the Bolt pegmatite Until this year, the Bolt pegmatite had only been mapped and channeled on surface exposures and is located between the Spark and PAK spodumene-bearing lithium deposits on the PAK Lithium Project. Several condemnation holes were also drilled in preparation for an upcoming definitive feasibility study on the PAK Lithium Project.

Highlights

• The Company completed 3.806m in 15 drill holes delineating Bolt.
• DDH PL-111-23 and PL-112-23 indicate that the Bolt pegmatite has a horizontal width of up to 75m wide
• DDH PL-111-23 intersected 109.5m of pegmatite averaging 0.96% Li 2 O.
• Including 29.0m from 148.0 to 177.0m averaging 1.14% Li 2 O
• Including 34.2m from 192.0 to 1226.2m averaging 1.17% Li 2 O
• DDH PL-112-23 intersected 90.1m of pegmatite averaging 0.72% Li 2 O.
• Including 26.6m from 176.3 to 202.9m averaging 1.51% Li 2 O

"The latest results suggest that the Bolt pegmatite is wider than what we initially suspected," states Garth Drever , VP Exploration. "Bolt appears to have a large central zone that breaks up along strike into a series of dykes of variable thickness."

Figure 1 is a location map showing the project area including Frontier's land tenure and location of the three lithium-cesium-tantalum pegmatites can be found here .

Figure 2 is a plan-view map showing the PAK-Bolt area. It highlights locations of the 2023 Phase XIII drilling and includes a smaller map inset showing the Bolt outcrop exposures. This inset presents drillhole traces displaying major lithological features and assay results. The condemnation holes completed are also included on Figure 2 showing the geology along the traces.

Surficial detailed mapping at Bolt is currently underway and includes channel sampling. Access in the area is hindered by underbush and deciduous regrowth in the overburden regions of the pegmatite and mafic exposures. Initial results are encouraging extending the surficial pegmatite outcroppings southwest above drillhole intersections (note that the 2023 mapping is preliminary and shown on the inset map in Figure 2).

As previously reported, there may be continuity between the Bolt pegmatite and the Spark deposit located 200m to the NW, but that continuity is undetermined and will require additional drilling. Bolt mineralization currently extends to within 100m of the Spark pitshell. The pegmatite appears to be cutoff along strike to the southeast but remains open at depth. Pegmatitic intersections in DDH PL-111-23 and PL-112-23 with horizontal widths of 75 and 60m respectively, are encouraging and correspond to the recent surficial mapping.

A series of widely spaced single condemnation holes were drilled mainly in areas of planned infrastructure, including the region between PAK and Bolt, to confirm the absence of mineralized pegmatites near surface.

The drill program encompassed three drillholes at Spark, drilled in late March and concluded in July, with a fourth drill hole spanning 550 meters. The primary focus of these endeavors was to explore the western extension of the Spark pegmatite. Spodumene-bearing pegmatite was intersected in all holes. The Phase XIII drilling is now complete for the year as assays results continue to come in.

Table 1 details the drill holes with mineralized intersections at Bolt while Table 2 summarizes all drill holes completed to date in 2023 on the PAK Lithium Project.

Table 2: Summary of 2023 Drilling at PAK, Bolt and Spark

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. Under Frontier's QA/QC procedures, all drilling was completed by Chenier Drilling Ltd. of Val Caron, ON 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. 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 by float plane and then shipped to AGAT Laboratories Ltd. (AGAT) in Thunder Bay 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 Pakeagama Lake exploration camp.

Frontier Lithium (TSX-V: FL) (FRA: HL2) (OTCQX: LITOF) 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.

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.

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 news release. 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 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 (NPV) , and statements that address future production, 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, Investors should review the Company's registered filings available at sedar.com.