Cautionary Statements
The fully Integrated Project PEA referred to in this announcement has been undertaken to determine the potential viability of the integrated project comprising a mine/concentrator and chemical plant in northern Ontario and to reach a decision to proceed with more definitive studies. This PEA is preliminary in nature, includes inferred mineral resources that are considered too geologically speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty the PAK Lithium Project outlined by the PEA will be realized. The Company has concluded it has a reasonable basis for providing the forward-looking statements included in this announcement and believes that it has a reasonable basis to expect it will be able to fund the development of the Integrated Project. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the PEA
DOE awarding more than $50M to 15 projects to advance critical material innovations
The US Department of Energy (DOE) is awarding more than $50 million in funding for 15 projects focused on field validation and demonstration as well as next-generation extraction, separation, and processing technologies for critical materials.
Critical materials are used in many products important to the US economy and energy technologies, such as rare-earth elements used to manufacture high-strength magnets for offshore wind-turbine generators and lithium and cobalt in lithium-ion batteries for electric vehicles.
Projects selected under this funding opportunity announcement will reduce both the costs of critical materials and the environmental impacts of production. The projects are divided into two main topic areas: