Discovery Lithium Announces Earn-In Option on Quebec Property Portfolio

Discovery Lithium Inc. has announced an Earn-In Option Agreement to acquire an 80% interest in the West James Bay property portfolio. This portfolio includes seven lithium projects: Mantle, Cirrus East, Cirrus West, Neptune, Alto, Opus, and Bruce Lake. The projects are strategically located in Quebec's James Bay region, known for its investment attractiveness and high-grade spodumene pegmatite.

CEO Michael Gheyle highlighted the strategic significance of the agreement in positioning Discovery Lithium within one of the world's richest lithium spodumene deposits. He noted the company's readiness for active exploration in the upcoming year, bolstered by sufficient funding.

The Mantle and Bruce Lake projects are within the Yasinski Lake Greenstone Belt, an area with significant lithium discoveries. The Cirrus East and Cirrus West projects are near known spodumene-bearing pegmatites. Neptune is known for lithium anomalies in sediment samples, while the Alto and Opus projects are positioned close to new pegmatite discoveries.

Under the terms of the agreement, Discovery Lithium will issue 5,000,000 shares within five days of signing and incur a minimum expenditure of $1,000,000 within six months to maintain the option. The agreement reflects Discovery Lithium's commitment to regional lithium discovery and advancing domestic energy freedom.