(TheNewswire)
Vancouver, BC - TheNewswire - August 29, 2023 - Cullinan Metals Corp. (CSE:CMT) (OTC:CMTNF) (FWB:7KO) (" Cullinan " or the " Company ") is pleased to announce thatfurther to its news releases dated August 21 and August 23, 2023, ithas started an initial exploration program on its new Ontario andQuebec properties (the “ Properties ”). The Company has recentlysigned non-binding letters of intent (“ LOIs ”) with variousarm’s length vendors with respect to these Properties. Under theLOIs, the Company will acquire a 100% interest in and to a series ofhighly prospective lithium mineral properties in Canada subject to thesatisfaction of full due diligence investigation including preliminarysampling and exploration work on the Properties to the extentpermitted by applicable mining laws.
The Properties
Ontario Properties
The Ontario properties which include Dory - AerialLake, East Haig, West Haig, Flower Fall and Flash Lake properties, arelocated in a lithium favorable geological setting of northwesternOntario in the vicinity of the Georgia Lake, Mavis Lake, SeparationRapids, GT1’s Root Lake lithium projects in Northwestern Ontario. Lilypad East and West properties are directlyadjacent to significant Ta Cs Rb mineralization.
Quebec Properties
The Quebec Properties are located mainly in twoprolific geological regions: a) the James Bay area (James BayPegmatite and James Bay Spodumene properties) where several newlithium discoveries have been made alongside the historical deposits;and b) in the Val d’Or region (VS and VN properties) located within the Archean Preissac-Lacorne batholith, ageological region with known lithium deposits, prospects and anexisting lithium mine (North American Lithium or NAL).
Cautionary Statement: The above-mentioned information on theadjacent lithium prospects and deposits in this news release is takenfrom the publicly available information. The Company has not been ableto independently verify the information contained. The information isnot necessarily indicative of the mineralization on the properties,which are subject of this news release.
The Program
During the current phase of exploration(“ Phase OneExploration ”), two experienced field teamshave been deployed to conduct field prospecting activities acrossOntario and Quebec Lithium properties. This process will involve thesystematic examination of the multiple fertile granitic pegmatitedykes. Furthermore, pegmatite sampling and trenching will be carriedout to assess the presence and distribution of lithium-bearingpegmatites within each of the properties. This crucial step willprovide valuable insights into the mineralogy and lithium content ofthe identified pegmatite deposits, aiding in the development of anextensive understanding of the property's lithium explorationpotential for further work. Initial scanning of samples will becarried out by using a laser-induced breakdownspectroscopy (LIBS), which has recently emerged as a tool forgeochemical analysis outside the traditional laboratory setting, is atool for Li exploration that can measure Li in minerals, rocks, soils,and brines in-situ in the field.
Marc Morin, CEO, expressed his enthusiasm about thecommencement of the exploration, stating, “We are excited toinitiate exploration at our Ontario and Quebec properties. With somany previous discoveries made in the areas near our Properties, weare optimistic that Phase One Exploration will return an excellentoutcome for our shareholders.”
Qualified Person
The scientific and technical information contained inthis news release has been reviewed and approved by Afzaal Pirzada,P.Geo., a Qualified Person as defined by National Instrument 43-101 -Standards of Disclosure for Mineral Projects.
Caution Regarding Adjacent or SimilarMineral Properties
This news release contains information with respect toadjacent lithium prospects and deposits or similar mineral propertiesin respect of which the Company has no interest or rights to exploreor mine. Readers are cautioned that the Company has no interest in orright to acquire any interest in any such properties, and that mineraldeposits, and the results of any mining thereof, on adjacent orsimilar properties are not indicative of mineral deposits on theCompany’s properties or any potential exploitation thereof.
On behalf of the Company,
CULLINAN METALS CORP.
Marc Enright-Morin
CEO
(604) 669-9788
About Cullinan Metals Corp.
Cullinan Metals Corp. is a Canadian mining andexploration company focused on the development of energy metals. Witha strong emphasis on key energy resources such as copper, graphite,and lithium assets, Cullinan is dedicated to unlocking the potentialof these resources globally.
Forward-lookingstatements
This news release contains forward-looking statementsand forward-looking information within the meaning of Canadiansecurities laws (collectively, “ forward-looking statements ”). Forward-looking statements in this news release relateto, among other things: statements with respect to anticipatedexploration program results from exploration activities, theexpectation that the Company will enter into agreements to acquireinterests in the Properties, the anticipated business plans and timingof future activities of the Company and all other statements that arenot historical facts, particularly statements that express, or involvediscussions as to, expectations, beliefs, plans, objectives,assumptions or future events or performance of the Company. Often, butnot always, forward-looking statements can be identified through theuse of words or phrases such as “will likely result”, “areexpected to”, “expects”, “will continue”, “isanticipated”, “anticipates”, “believes”, “estimated”,“intends”, “plans”, “forecast”, “projection”,“strategy”, “objective” and “outlook”. Forward-lookingstatements contained in this news release are made based on reasonableestimates and assumptions made by management of the Company at therelevant time in light of its experience and perception of historicaltrends, current conditions and expected future developments, as wellas other factors that are believed to be appropriate and reasonable inthe circumstances. Forward-looking statements contained in this newsrelease are made as of the date of this news release and the Companywill not update any such forward-looking statements as a result of newinformation or if management’s beliefs, estimates, assumptions oropinions change, except as required by law. There can be no assurancethat forward-looking statements will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, the reader is cautionednot to place undue reliance on forward-looking statements.
Forward-looking statements involve known and unknownrisks, uncertainties and other factors, many of which are beyond theCompany’s control, which could cause actual results, performance,achievements and events to differ materially from those that aredisclosed in or implied by such forward-looking statements. Such risksand uncertainties include, among others, operating and technicaldifficulties in connection with mineral exploration and developmentactivities, actual results of exploration activities, including on theProperties, the estimation or realization of mineral reserves andmineral resources, the fact that the Company’s interests in theProperties are at LOI stage only which are non-binding and there is noguarantee that such interests, if earned, will be certain, capitalexpenditures, requirements for additional capital, future prices oflithium, changes in general economic conditions, changes in thefinancial markets and in the demand and market price for commodities,delays in obtaining governmental approvals, permits or financing,title disputes, the inability of the Company to obtain any necessarypermits, consents, approvals or authorizations, including approval bythe Canadian Securities Exchange required for the acquisition of theProperties, the timing and possible outcome of any pending litigation,environmental issues and liabilities, and all other risks anduncertainties disclosed in the Company’s publicly filed documentsunder the Company’s profile on SEDAR at www.sedarplus.ca . The Company cautions that the list of riskfactors and uncertainties described in its publicly filed documents onSEDAR is not exhaustive and other factors could materially affect itsresults. New factors emerge from time to time, and it is not possiblefor the Company to consider all of them, or assess the impact of eachsuch factor or the extent to which any factor, or combination offactors, may cause results to differ materially from those containedin any forward-looking statement. Any forward-looking statementscontained in this news release are expressly qualified in theirentirety by this cautionary statement.
Neither the Canadian Securities Exchange nor its MarketRegulator (as that term is defined in the policies of the CSE) acceptsresponsibility for the adequacy or accuracy of this release.
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