(TheNewswire)
Vancouver, British Columbia – TheNewswire - December 30, 202 2 – Tearlach Resources Limited (TSXV:TEA) (OTC:TELHF) (FRANKFURT:V44)(“Tearlach” or the “Company”) is pleased to provide itsSignificant Growth Strategy for Q1 of 2023 and a Recap of theCompany’s progress in 2022.
Dear Shareholders,
This has been a very exciting and transformative yearfor Tearlach given the expedited nature of advancing Tearlach into alithium-focused company.
2022 was a difficult year for explorers in thecommodities space, but Tearlach was a shining beacon as our stock sawan over 800% increase and became the second fastest-growing stock onthe TSXV. We saw considerable shareholder value appreciation and notedwhat we believe is the start of substantial growth for the Company.While the markets were dealing with a decline in sentiment from Covidrestrictions to the crypto crash, we were planning what you are hereto read, “How is Tearlach going to become a significant leader inthe lithium space?” Let us begin with our corporate strategy andour view for short and long-term growth. We believe that this is thetime to build through acquisition, exploration, and outside-the-boxideas (more in the new year). We are fostering strong relationships,acquiring high-potential company-building lithium projects, andplanning high-impact execution in the new year.
Significant highlights from the last4 months:
Key board members
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Lindsay Bottomer – responsible for multiplegeological discoveries.
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Paul Chow – co-founder and former CEO of Rock TechLithium (TSXV: RCK); capital markets expert
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Addition of new CEO, Morgan Lekstrom, with a minebuilding and capital markets background, an outside-the-box thinkerwith a goal toward bringing the Company to a billion-dollarcapitalization.
Strong Balance Sheet
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Successful closing of a $7.585M financing, of whichover $4M or 8.1M shares, are on an extended 8-month hold. Thisextended hold period is evidence of our shareholders’ belief in thelong-term success model we have for Tearlach’s growth.
Strategic Acquisitions
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Acquisition of the Wesley, Hearth and Ferland stationLithium Projects, all on a geological lithium bearing trend in Ontarioaround Green Technology Metals Root Lake and Seymour LakeDeposits.
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Acquisition of the “The Final Frontier Project”lithium project contiguous to Frontier Lithium’s resources inNorth-western Ontario made up of the Pakwan, and Margo Lakeclaims.
Catalysts for growth: Q1 2023
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Utilizing our highly experienced team and uniqueacquisition pipeline to acquire highly prospective properties inCanada and other jurisdictions.
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Significant management additions, including a VicePresident of Exploration.
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On-the-ground execution of projects, includingaccelerating to drilling.
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Results from our fall 2022 explorationprograms.
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Fostering strategic partnerships.
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Establishing an advisory board.
CEO Morgan Lekstrom stated, “2023 is poised to be asignificant growth year for us as we advance the corporate goal ofbeing the leading lithium company in North America. Throughboots-on-the-ground exploration, drilling, further acquisitions, andoutside-the-box ideas, we look forward to bringing you a robust growthplatform with catalysts continuing throughout 2023.”
On behalf of the Tearlach board and management team, wethank you for your continued support and wish you all a very happy,healthy, and prosperous New Year. We look forward to an exciting andhigh-paced 2023!
Sincerely,
TEARLACH RESOURCES LIMITED
/s/ Morgan Lekstrom
Morgan Lekstrom
Chief Executive Officer and Director
The Company has engaged LFG Equities Corp (“LFG”)to provide content creation and distribution to social media channels.The term of the Agreement is for six months. Pursuant to theAgreement, the Company will compensate LFG a total fee of $100,000. Atthe time of this announcement, LFG directors have an equity interestin the Company.
About Tearlach
Tearlach is listed on the TSX-V under the symbol TEAand is a Canadian-based emerging resource company. Tearlach has signedone purchase agreement and three option agreements on four lithiumprojects in north-western Ontario. The Final Frontier Project includesthe Margot and Pakwan Lithium claim blocks and is located adjacent toFrontier Lithium’s Electric Avenue, which hosts the PAK and Sparkdeposits. The Wesley Property borders Green Energy Metals’ Root LakeProject, where a 24,000 m drill program is currently underway.Pegmatite dykes have also been encountered on the Harth LithiumProject, which is 8 km west of the Wesley Lithium Project. Prospectingand mapping have also confirmed pegmatite dykes on the Ferland LithiumProperty 10 km east of Green Technology Metals’ Seymour LakeProject. Tearlach intends to explore current assets and develop aportfolio of projects through acquisition. Tearlach’s primaryobjective is to position itself as the leading lithium exploration anddevelopment company.
Forward-looking statements
This press release contains forward-looking statementsand forward-looking information within the meaning of Canadiansecurities laws (collectively, “forward-looking statements”).Statements and information that are not historical facts areforward-looking statements. Forward-looking statements arefrequently, but not always, identified by words such as “expects”,“anticipates”, “believes”, “intends”, “estimates”,“potential”, “possible” and similar expressions, or statementsthat events, conditions, or results “will”, “may”, “could”or “should” occur or be achieved. Forward-looking statements andthe assumptions made in respect thereof involve known and unknownrisks, uncertainties, and other factors beyond the Company’scontrol. Forward-looking statements in this press release includestatements regarding the beliefs, plans, expectations, or intentionsof the Company. Mineral exploration is highly speculative andcharacterized by several significant risks, which even a combinationof careful evaluation, experience and knowledge may not eliminate.Forward-looking statements in this press release are made as of thedate herein. Although the Company believes that the assumptions andfactors used in preparing the forward-looking statements in this pressrelease are reasonable, undue reliance should not be placed on suchstatements. The Company undertakes no obligation to update publicly orotherwise revise any forward-looking statements, whether as a resultof new information or future events or otherwise, except as may berequired by law.
Neither the TSX Venture Exchange norits Regulation Service provided (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
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