(TheNewswire)
Vancouver, Canada– TheNewswire - April 2 4 th , 2023 – Arbor Metals Corp. (“ Arbor ” or the “ Company ”)(TSXV:ABR ) , ( FWB:432) welcomes the news that theSayona Lithium Mine, located near La Corne in the Abitibi region ofQuebec, has started operations as a large-scale lithium mine in NorthAmerica. Sayona Quebec, a joint venture between Australia's SayonaMining Ltd. and North Carolina's Piedmont Lithium Inc., reopened theNorth American lithium mine in late March. High-profile end-users suchas Tesla Inc. and South Korea's LG Chem Ltd. are anticipated topurchase lithium from the Sayona operations, representing asignificant achievement for Quebec and Canada.
Arbor welcomed the positiveannouncement by Federal and Provincial leaders on April 20th, 2023, where official s welcomed Volkswagen’s plan to builda large-scale new EVbattery plant in St. Thomas, Ontario. Followingthe news of substantial investment by both Volkswagen and the Canadiangovernment, Arbor plans to expedite its exploration plans for itsJarnet lithium project.
Volkswagen AG commented , "North America plays a key rolein our global battery strategy. The region will become PowerCo’ssecond pillar beside Europe, with battery cells made in North Americafor North America. Gigafactory St. Thomas opens the door to a keymarket for e-mobility and battery cell production. We aim to makePowerCo a global player in the battery business and to pave the wayfor clean, sustainable mobility. Gigafactory St. Thomas is animportant milestone in our roadmap,” remarked Thomas Schmall,Volkswagen Group Board Member for Technology.
https://news.ontario.ca/en/release/1002955/volkswagens-new-electric-vehicle-battery-plant-will-create-thousands-of-new-jobs
On April 20th, 2023, the lithium industry was alsoshaken by the announcement that Chile, the world's second-largestproducer of lithium from brine deposits, intends to nationalize itslithium industry to bolster its economy and safeguard itsenvironment. Arbor expects this move by Chileand Mexico to nationalize their lithium industry will hasten a shift in future investments inlithium projects to other countries recognized as “safe havens” with large lithium resourcepotential, such as Canada (Quebec and Ontario). Quebec ranks second in Canada and sixth globally in theFraser Institute's 2021 top jurisdictions for investment based on theInvestment Attractiveness Index.
Arbor believes that theexploration and development of lithium projects in northern Quebec arewell-suited to benefit from these recent announcements and eagerlyanticipates implementing a strong exploration program for its Jarnetlithium project this summer. Encompassingroughly 3,759 hectares, the Company’s Jarnet lithium project iscomprised of 70 map-designated claims. The Jarnet South block islocated less than two kilometres northwest of Patriot Battery MetalsInc.'s (“PMET”) CV-5 pegmatite target, where an intensive diamonddrill program is currently underway and has led to several noteworthydiscoveries.
Note: Company management cautionsthe discoveries and observations on properties in proximity to theCompany's properties are not necessarily indicative of the presence ofsimilar mineralization or geology on the Company's properties.
Dr. Peter Born, P.Geo., is the designated qualifiedperson as defined by NationalInstrument 43-101 and is responsible for, andhas approved, the technical information contained in thisrelease.
Arbor Metals Corp. is a mining exploration company specializing in developinghigh-value, geographically significant mineral projects worldwide. Asan industry leader, it is paving the way for advanced mineral exploration as it oversees world-classmining projects. Arbor believes quality projects, proven strategies,and a professional team will deliver superior results. The companyholds three exceptional mineral projects.
The Jarnetlithium project , located in the James Bay regionof Quebec, comprises 47 map-designated claims, covering an area ofapproximately 3,759 hectares. The Jarnet project is contiguous to theCorvette-FCI property, where diamond drilling has confirmedsignificant lithium mineralization, and represents one of thehighest-profile lithium exploration projects in the sector.
For further information, contact Mark Ferguson, ChiefExecutive Officer, at info@arbormetals.com , or visit the Company’s website atwww.arbormetalscorp.com.
On behalf of the Board,
Arbor Metals Corp.
Mark Ferguson, Chief Executive Officer
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When or if used in this newsrelease, the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule” and similar words or expressions identifyforward-looking statements or information. These forward-lookingstatements or information may relate to the development of the JarnetLithium Project, the assessment of samples from that Project, andother factors or information. Such statements represent theCompany’s current views with respect to future events and arenecessarily based upon a number of assumptions and estimates that,while considered reasonable by the Company, are inherently subject tosignificant business, economic, competitive, political and socialrisks, contingencies and uncertainties. Many factors, both known andunknown, could cause results, performance, or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. The Company does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affecting such statements and information other than asrequired by applicable laws, rules and regulations.
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