SUDBURY,
ON, Feb. 7, 2022 /CNW/ - Frontier Lithium
Inc. (TSXV: FL) (OTCQX: LITOF) ("Frontier" or "the Company") is
pleased to announce that its Board of Directors (the "Board") has
approved the appointment of Ms. Tess
Lofsky to the Board as an independent director replacing Mr.
Bruce Barker effective February 7, 2022.
"We want to thank Bruce Barker
for his contribution and dedication to our Board over the past
several years and are pleased he will continue to support the
Company through his role on the Advisory Board" said Mr.
Rick Walker, Chairman of Frontier
Lithium. "We are delighted to welcome Tess
Lofsky to our Board. Tess' focus on Corporate and securities
law, governance and regulatory compliance will help us as we
continue to grow our business and deliver value."
Ms. Lofsky is a business focused, legal executive and Board
member with considerable experience in the mining industry. Her
understanding of Corporate and securities law, governance, and
compliance were developed over 15 plus years of practising law.
Prior to her role as Senior Legal Counsel and Corporate Secretary
for Bird Construction (TSX:BDT), Ms. Lofsky served as Legal Counsel
& Corporate Secretary for the Greater Toronto Airports
Authority and Vice President, General Counsel & Corporate
Secretary of North American Palladium Ltd. At North American
Palladium, she provided advice and counsel on a broad range of
public company matters including corporate finance and M&A, as
well as with respect to environmental, labour and employment,
health and safety and indigenous law matters related to their
portfolio of assets including mine operations and exploration
properties in Ontario and
Quebec. Ms. Lofsky received a
Bachelor of Social Sciences degree from the University of Ottawa and a Bachelor of Laws from
Queens University.
"I am very pleased to join Frontier Lithium's Board of
Directors. As the Company continues to make progress in its drill
and metallurgical programs in furtherance of its Pre-Feasibility
Study, it is demonstrating the potential of this impressive deposit
in Northern Ontario to become a
domestic producer for the growing battery metals sector." said
Ms. Lofsky.
Other Matters
The Company also announces that pursuant to its "Stock Option
Plan" it has granted 1,000,000 stock options, to certain
employees, officers and directors. The options are set for a period
of five years, expiring on February 7, 2027. The options are
priced at $2.71 and are subject to regulatory
approval.
About Frontier Lithium Inc.
Frontier Lithium is a preproduction business that is targeting
to become a manufacturer of battery-quality lithium materials to
support electric vehicle and battery supply chains in North America. Frontier owns 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
continues to have significant exploration upside with potential to
increase the lithium resource. The company is a pure-play lithium
development opportunity with the largest land position in the
Electric Ave., a premium lithium mineral district located in
Northern Ontario.
About PAK lithium project
The PAK lithium project contains a tier one lithium resource in
North America and is one of the
global top three premium resources by quality. A 2021 preliminary
economic assessment (National Instrument 43-101 technical report
titled "Pak property" by BBA Engineering Ltd., issued on
April 5, 2021) delivered a fully
integrated lithium operation from the resource to achieve
downstream conversion plan for production of battery-quality
lithium salts. The study resulted in an after-tax net present value
(discounted at 8 per cent) of $974-million (U.S.) with a 21-per-cent internal
rate of return. The project encompasses 26,774 hectares at the
south end of Ontario's Electric
Ave., the largest land package hosting premium lithium-bearing
pegmatites in Ontario. The project
is supported by a measured and indicated resource of 10.49 million
tonnes (Mt) averaging 1.78 per cent lithium oxide and inferred
resource of 18.48 Mt averaging 1.45 per cent Li2O. The
project covers 65 kilometres of the Electric Avenue's length and
remains largely unexplored; however, since 2013, the company has
delineated two premium spodumene-bearing lithium deposits (PAK and
Spark), located 2.3 kilometres apart. Considerable exploration
upside is supported on the PAK lithium project through two other
spodumene-bearing discoveries: the Bolt pegmatite (located between
the PAK and Spark deposits), as well as the Pennock pegmatite (30
kilometres northwest of PAK deposit within the project claims).
SOURCE Frontier Lithium Inc.