SUDBURY, ON, July 20, 2021 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (OTCQX: LITOF) (the "Company" or "Frontier") is pleased to announce that, effective immediately, it has appointed Mr. Marc Boissonneault to its Board of Directors. Mr. Boissonneault began his career with Falconbridge Ltd. and advanced through the organization where he was most recently the Head of Global Nickel Assets for Glencore. He retired in 2020 after an impressive 31-year career. Mr. Boissonneault oversaw Glencore's global nickel industrial business, which included Raglan Mines (Quebec), Murrin Murrin (W.Australia), Nikkelverk Refinery (Norway), Sudbury INO (Ontario), Koniambo SAS (New Caledonia). The operations comprised six underground mines, two open pit mine complexes, two concentrators, an HPAL processing plant, two smelters, and two hydrometallurgical refineries.
"We welcome Mr. Marc Boissonneault to Frontier's Board of Directors. Marc is an accomplished mining and metals professional with extensive experience in leading major mining and metallurgical operations and capital projects globally" stated the Company Chair Reginald (Rick) Walker. "As a resident of northern Ontario, we are looking forward to working closely with Marc. He will significantly aid Frontier and the region as we work towards building a fully integrated lithium mining and chemicals company."
Mr. Boissonneault commented, "I am delighted to be joining Frontier Lithium's Board of Directors. I am pleased about the Company's systematic approach for the development of its lithium chemicals strategy. The Project is endowed by an ever growing, high-quality spodumene resource base. Resources like these are required anchors to form a regional critical minerals and chemicals supply chain."
Marc Boissonneault has led the development of key business opportunities in the form of new geological discoveries, early-stage capital project developments, and collaborative mine development agreements with other mining companies. He has a proven track record of consistently delivering strong operating and capital project results while maintaining the highest standards of ESG performance. Businesses under his responsibility have been recognized for industry-leading safety performance (multiple John T. Ryan Awards in Canada). In addition, they have performed to the highest standards environmentally, having never incurred a major environmental incident. Along with fostering productive relationships with top government officials in multiple jurisdictions, he has ensured the cultivation of constructive relations with associated aboriginal communities internationally. Mr. Boissonneault was previously the Vice President Glencore Nickel, Sudbury Integrated Nickel Operations for seven years and Director Sudbury Smelter, Xstrata Nickel for two years. He holds a Bachelor of Engineering (Metallurgical/Ceramic) from McMaster University and a Master of Business Administration from Queen's University.
Other Matters
The Company also announces that Odyssey Trust Company has replaced Computershare Trust Company of Canada as the registrar and transfer agent of the Company's common shares. Shareholders need not take action in respect of the change in transfer agent and registrar. However, all inquiries and correspondence relating to the shareholder records, transfer of shares, lost certificates and or change of address should now be directed to Odyssey Trust Company as follows:
Odyssey Trust Company
1230 – 300 5th Ave SW
Calgary, AB T2P 3C4
http://www.odysseycontact.com/
Toll Free: 1-888-290-1175
The Company also announces that pursuant to its "Stock Option Plan" it has granted 1,500,000 stock options to certain employees, officers, directors and consultants. The options are set for a period of five years, expiring on July 20, 2026. The options are priced at $.82 and are subject to regulatory approval.
About Frontier Lithium
Frontier Lithium (TSX.V: FL) (OTCQX: LITOF) (FSE: HL2) is an emerging pure play lithium company with the largest land position in the Electric Avenue, an emerging premium lithium mineral district located in the Great Lakes region of northern Ontario. The company maintains 100% ownership in the PAK Lithium Project which contains one of North America's highest-grade, large tonnage hard-rock lithium resources in the form of a rare low-iron spodumene. The Project has significant upside exploration potential. Frontier is a pre-production business that is targeting the manufacturing of battery quality lithium hydroxide in the Great Lakes Region to support electric vehicle and battery supply chains in North America. Frontier maintains a tight share structure with management ownership approximately 25% of the Company.
About PAK Lithium Project
The PAK Lithium Project encompasses 26,774 hectares at the south end of Ontario's Electric Avenue, the largest land package hosting premium lithium bearing pegmatites in Ontario. The Project covers 65 km of the Avenue length and remains largely unexplored; however, since 2013 the company has delineated two premium spodumene bearing lithium deposits (Pak and Spark) located 2.3 km from each other. A 2021 Preliminary Economic Assessment of a fully-integrated lithium operation utilizing spodumene concentrate generated from the PAK Lithium Project resource to achieve downstream conversion for production of battery-quality lithium chemicals (NI 43-101 Technical report titled "PAK Property" by BBA Engineering Ltd. issued on April 5, 2021) resulted in a post-tax NPV8% of USD $974M with a 21% IRR. Considerable exploration upside is supported on the PAK Lithium Project through two other spodumene bearing discoveries; Bolt pegmatite located between PAK and Spark deposits, as well as Pennock pegmatite, a further 30 km northwest of PAK within the Project claims.
Forward-looking Statements
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. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. 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 or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, 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.
SOURCE Frontier Lithium Inc.
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