Update
ORIGINAL: CDN Maverick Expands Footprint in James Bay & Provides Q1 Corporate Update
2024-05-02 02:01 ET - News Release
Vancouver, British Columbia--(Newsfile Corp. - May 2, 2024) - CDN Maverick Capital Corp. (CSE: CDN) (OTCQB: AXVEF) (FSE: A117RU) ("Maverick" or the "Company") is pleased to announce the successful expansion of its lithium prospects in James Bay; adding an additional 110,000 hectares to its portfolio.
Additional Purchase Agreement with Shawn Ryan
Maverick has entered into an additional purchase agreement with Shawn Ryan, to increase its James Bay area land package with exploration potential for lithium and other high-value minerals including the Poncheville Lithium Prospects in south-central Quebec. The agreement, entered into effective April 17, 2024, allows Maverick to expand its portfolio by adding 2,251 mining claims, equal to approximately 110,000 hectares, for an acquisition cost of $160,000 CAD. This expansion brings Maverick's total land package in the James Bay area to 150,000 hectares of highly prospective ground.
Simon Studer, Interim CEO and COO, explains: "With this strategic consolidation in James Bay, which was practically at-cost, Maverick now controls two contiguous, road-accessible claim blocks, situated 60 miles north of Matagami, covering 150,000 hectares. This area holds potential for several high-value minerals and metals including lithium. As we look forward to a productive summer, the technical team led by Raul Sanabria, P.Geo., will reassess the results from our maiden prospecting program undertaken in 2023 with desktop studies and data research. Results from a wide-spaced first-pass traverse prospecting field program detected above background anomalous Lithium and other related elements. Our team is eager to convert the Poncheville Lithium prospects into solid exploration assets in the next exploration seasons."
Figure 1
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Completion of Northwind Lake Property Acquisition
Maverick is excited to further announce the completion of the Northwind Lake Property acquisition agreement dated June 21, 2023. Following the final payment of $50,000 CAD, Maverick has now acquired outright ownership of a valuable exploration prospect, located in the Electric Avenue Lithium District, one of Ontario's most advanced lithium exploration areas. Positioned just 10km north-northwest of the high-grade PAK Lithium deposit, this acquisition marks significant added value in our portfolio strategy.
Figure 2
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Maverick hires In Good Standing Corporation for Land Management Services
Maverick has hired In Good Standing Corporation, an Ontario-based land management service provider specializing in the mining and exploration industries, to manage the company's expanding portfolio of Canadian assets. Simon Studer, Interim CEO, comments: "Beyond ensuring optimal regulatory and operational compliance across our jurisdictions, our work with In Good Standing also introduces sophisticated asset monitoring. By leveraging geomatics and other IT-based expert systems, we aim to refine our exploration strategies and navigate the regulatory landscape more effectively, ensuring top-tier protection of our investments."
About CDN Maverick Capital Corp.:
CDN Maverick Capital Corp. is a diversified exploration Company, with a core focus on critical minerals in North and South America.
Jame Bay Quebec: Poncheville Lithium Project
Lithium pegmatite prospect spanning over 150,000 hectares across the Poncheville and Chabinoche properties and Extensions
Electric Avenue Ontario: Northwind Lake Lithium Property
7,040 hectares in the "Electric Avenue", an emerging lithium pegmatite exploration camp in the Red Lake area of Ontario, near to Frontier Lithium's PAK Lithium Project
Rainbow Canyon Nevada:
The Company also owns the Rainbow Canyon Gold Project in Nevada
Investments
1. Holds 1,044,385 shares of NOAL Lithium Brines Inc., a lithium company actively working in the Lithium Triangle and drilling it's maiden resource in the area.
2. Holds over 1.6M shares in Noram Lithium Corp.; a lithium clay sands exploration and development Issuer located in Clayton Valley Nevada with a significant lithium resource known as the Zeus project. Noram is working towards a Prefeasibility Study.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder, Chairman, and Director
sandyjmacdougall@gmail.com
C: 778.999.2159
Simon Studer
President, Interim CEO, and Director
simondavidstuder@gmail.com
Phone: +41-44-485-2484
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This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.
Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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