Vancouver, British Columbia--(Newsfile Corp. - October 18, 2024) - Imagine Lithium Inc. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") today announces that it has filed an independent Technical Report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") supporting the Mineral Resource Estimate for the Jackpot Lithium Property, reported on September 03, 2024.

P&E Mining Consultants Inc. ("P&E") is responsible for the Technical Report. The independent Qualified Person (QP), as defined under NI 43-101 is Eugene Puritch, P.Eng., FEC, CET, President of P&E.

The Report is available on the Company's website (www.imaginelithium.com) and on SEDAR+ (www.sedarplus.ca).

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot Lithium Property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The Jackpot Property consists of 297 mineral claims covering 18,800 hectares. The Property contains NI 43-101 compliant Mineral Resources of 3.1 Mt grading 0.85% Li₂O in the Indicated category and 5.3 Mt grading 0.91% Li₂O in the Inferred category, as well as a number of other known pegmatite showings.

On Behalf Of The Board

"J.C. St-Amour"
J.C. St-Amour, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at www.sedarplus.ca).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227042

Vancouver, British Columbia--(Newsfile Corp. - September 3, 2024) - Imagine Lithium Inc. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine"), is pleased to announce an initial NI 43-101 compliant lithium Mineral Resource Estimate ("MRE") on its Jackpot Property, located near the Town of Nipigon, Ontario.

Imagine will be hosting a webinar today at 11am EDT to discuss the resource estimate in more detail. Please register here: https://us02web.zoom.us/webinar/register/WN_dtW8UznRTv-MiX8Jsrt_5g

The webinar will be recorded for post viewing.

Jackpot Property Highlights:

• Indicated MRE of 3.1 Mt at 0.85% Li₂O contains 26.2 kt of Li₂O
• Inferred MRE of 5.3 Mt at 0.91% Li₂O contains 49.5 kt of Li₂O
• The MRE exhibits excellent mineralized continuity through a range of Li₂O cut-off grades up to 0.5% Li₂O
• Casino Royale is defined by eight diamond drill holes and remains open in all directions
• Additional nearby targets from previous exploration work provides excellent future Mineral Resource expansion potential
• Metallurgical test work by SGS Canada achieved an overall Li₂O recovery up to 81.5%

The Project is well serviced by existing infrastructure with access to nearby power sources and is approximately 40 km from the Town of Nipigon and 150 km from the port of Thunder Bay and 60 km from a potential port at Red Rock (Figure 1). Jackpot is proximal to the Great Lakes and St-Lawrence Seaway giving shipping access to processing plants globally, as well as Giga factories planned for southern Ontario and a possible lithium hydroxide plant contemplated for Thunder Bay or Red Rock.

J.C. St-Amour, Imagine President commented: "The initial MRE gives Imagine an excellent starting point on which to build Mineral Resources in the near future. There are several areas of the Deposit which remain open as well as new pegmatite targets which are untested. I cannot stress enough the importance and value of the Project's location. The nearby infrastructure is a major advantage for future development of the Project as its proximity to a workforce, power, highway and ports, distinguishes Jackpot from other lithium projects which are much more remote and therefore expensive to develop. In addition, our MRE compares favourably to other deposits in the area, including Rock Tech's Georgia Lake Project, located 15 km to the north of Jackpot. The unexplored potential on the Property gives us momentum to find and build additional lithium Mineral Resources."

Table 1: Pit-Constrained Mineral Resource Estimate at 0.30% Li₂O Cut-off^(1-9)

1. Mineral Resources are not Mineral Reserves and have not demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio political, marketing, or other relevant issues.
2. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration, however there is no certainty an upgrade to the Inferred Mineral Resource would occur or what proportion would be upgraded to an Indicated Mineral Resource.
3. The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines (2014) prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council and CIM Best Practices Guidelines (2019).
4. The following parameters were used to derive the Li₂O cut-off value used to define the Mineral Resource:
5. August 2024 Consensus Economics long term forecast Li₂O price US$1,100/t.
6. Exchange rate of US$0.73 = C$1.00.
7. Process recovery of 81.5%.
8. The 0.30% Li₂O cut-off was derived from C$2.75/t mineralized mining, C$2.25/t waste mining, C$40/t processing and C$20/t G&A.
9. Pit slopes were 50 degrees.

Figure 1: Jackpot Property located next to Trans-Canada Highway, power, port, railroad, and workforce.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/221892_c7431ae62425797a_002full.jpg

Table 2: Pit-Constrained Mineral Resource Estimate Sensitivity*

*See notes under Table 1.

The pit-constrained Mineral Resources are contained in two optimized conceptual open pits, the Jackpot Pit and the Casino Royale Pit (Figure 2). The Jackpot Pit contains a 3.1 Mt grading 0.85% Li₂O of Indicated Mineral Resources and 2.2 Mt grading 0.82% Li₂O of Inferred Mineral Resources, whereas the Casino Royale Pit contains Inferred Mineral Resources of 3.1 Mt at 1.00% Li₂O. The Casino Royale Zone remains open in all directions and exploration efforts are continuing to focus on expanding this new discovery (Figure 3).

Figure 2: Jackpot Project area showing the optimized conceptual Jackpot Pit and Casino Royale Pit boundaries.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/221892_c7431ae62425797a_003full.jpg 

Figure 3: Casino Royale Pit boundary containing 3.1 Mt Inferred MRE @ 1.00% Li₂O in eight diamond drill holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/221892_c7431ae62425797a_004full.jpg

The mineralized wireframes were developed in GEMS^TM with a 2.0 m minimum down hole width and a maximum 75 m projection distance from the nearest drill hole intercept. Wireframe constrained assays were composited to 1.0 m lengths and capped at 2.5% Li₂O. A Leapfrog^TM block model with 2.0 m x 2.0 m x 2.0 m blocks was established and subsequent inverse distance squared grade estimation undertaken. Bulk density averaging 2.69 t/m³ was determined from 18 site visit samples. A cut-off value of 0.30% Li₂O within an optimized conceptual pit shell using NPV Scheduler^TM was used to quantify the Mineral Resource Estimate, which has a reasonable prospect of eventual economic extraction (Figure 4). Exploration efforts will focus on infill drilling between the Jackpot Pit shell and Casino Royale Pit, and step out drilling north and east of the Casino Royale Pit (Figure 5).

Figure 4: Isometric view of the optimized conceptual Jackpot Pit and Casino Royale Pit with mineralized wireframes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/221892_c7431ae62425797a_005full.jpg 

Figure 5: Idealized cross-section looking west of Jackpot Pit and Casino Royale Pit.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/221892_c7431ae62425797a_006full.jpg

An NI 43-101 Technical Report will be filed on SEDAR+ within 45 days of this news release

Qualified Persons

The technical content of this news release was reviewed and approved by Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants Inc an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot Lithium Property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The Jackpot Property consists of 297 mineral claims covering 18,800 hectares.

On Behalf Of The Board

"J.C. St-Amour"
J.C. St-Amour, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at www.sedarplus.ca).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221892

Vancouver, British Columbia--(Newsfile Corp. - May 4, 2023) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to launch a property wide exploration program on the ~18,800 ha Jackpot Lithium property, following the recent closing of a $9.1 Million private placement financing (press release April 28, 2023). The extensive exploration program will consist of a minimum of 10,000 metres of diamond drilling on the Jackpot property. The diamond drill campaign will focus on expansion of the Jackpot Main Zone as well as several new lithium bearing pegmatite targets to the west, northwest, and northeast, covering a trend of more than 3 km (Figure 1). In addition, the Company has engaged a team of geologists to conduct a large prospecting and geological survey, accompanied by rock and soil sampling. For the first time, Imagine's exploration program will cover the entirety of the vast Jackpot land package. It is designed to identify new lithium exploration targets and investigate numerous known pegmatite occurrences throughout the property (see Figure 2). Finally, Imagine intends to carry out a high-resolution property-wide geophysical survey to identify potential pegmatites that may be hidden under groundcover.

J.C. St-Amour, President and CEO of Imagine, commented, "We are well capitalized to accelerate and greatly expand our exploration and development activities at the Jackpot project. Our goal is to increase the historical resources, test additional known pegmatites for potential satellite deposits, and to complete a comprehensive prospecting and sampling program of the entirety of the large Jackpot land package to identify additional drill targets. Lithium bearing pegmatites are generally found in swarms and we have already identified several that need to be tested through drilling. I am confident there are further discoveries to be made at Jackpot and we are well positioned to make them in the coming exploration season."

The Jackpot Main Zone remains open along strike, therefore expansion drilling will focus on testing extensions to the east and north. Exploration drilling will focus on targets identified outside of the main zone, including an area where a lithium baring pegmatite was traced over 500 m. These targets have the potential to add additional lithium deposits to the Jackpot project (Figure 1).

Figure 1: Map of drill target areas to be investigated in 2023 near the Main Jackpot Zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/164822_37c144d114b3089a_001full.jpg

Figure 2: Map of the Jackpot land package identifying areas of systematic sampling and potential future drilling areas.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/164822_37c144d114b3089a_002full.jpg

Qualified Person

The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the TransCanada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li₂O and 750,000 tons at 1.38% Li₂O*.

* The estimates presented above are treated as historical information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

ON BEHALF OF THE BOARD

"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164822

Vancouver, British Columbia--(Newsfile Corp. - November 14, 2022) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF)  (the "Company" or "Imagine") has entered into a contractual agreement with SGS Natural Resources in Lakefield, ON to carry out metallurgical testing on lithium ore from the Jackpot Lithium project. This is a necessary step in the sales process of lithium products including: direct shipping ore, lithium concentrate, lithium carbonate and lithium hydroxide monohydrate. Sample material is anticipated to come from the Jackpot Main Zone area and is believed to be representative of other zones discovered to date on the property.

SGS is a recognized world leader in lithium analysis and will evaluate the ore and produce spodumene concentrate up to 6% Li₂O. This is an essential step in the development and optimization of the process to produce a battery grade lithium hydroxide monohydrate and lithium carbonate.

"Given the current elevated pricing environment for lithium products from direct shipping ore, to concentrate, to fully processed lithium carbonate and lithium hydroxide, we are considering multiple commercial opportunities for our lithium products in tandem with exploration. Metallurgical analysis and results are an important input in the customer engagement process," said JC St-Amour, President and CEO of Imagine Lithium.

The drill program at Jackpot is ongoing with a number of samples awaiting assay results. The Company will provide an update as results become available.

Corporate Update

Further, the Company announces that the board of directors has granted 1,750,000 options to officers and directors of the company pursuant to its stock option plan. The options will be exercisable for a period of 5 years from the date of grant at a price of $0.075 per option, and vest immediately.

About SGS

SGS is the world's leading testing, inspection and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 96,000 employees, SGS operates a network of over 2,700 offices and laboratories around the world. We are constantly looking beyond customers' and society's expectations in order to deliver market leading services wherever they are needed. Working together to make the world a better, safer place.

QA/QC Protocol

Imagine Lithium implemented a strict QA/QC protocol in processing all rock samples collected from the core material obtained from the Jackpot property. The protocol included the insertion and monitoring of appropriate reference materials, in this case high concentration and low concentration certified OREAS lithium standards, blanks and duplicates, to validate the accuracy and precision of the assay results. All collected rock samples were put in sturdy plastic bags, tagged, and sealed in the core shack under the supervision of professional geologists. Sample bags were then put in rice pouches and kept securely before being sent by road transport to the Actlabs laboratories in Thunder Bay, Ontario. Lithium was analyzed by Peroxide Fusion ICP-OES method (8-Li package).

Qualified Person

The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.

About Jackpot

The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li₂O and 750,000 tons at 1.38% Li₂O*.

About Imagine Lithium Inc.

Imagine Lithium is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ontario, Canada, which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li₂O and 750,000 tons at 1.38% Li₂O.

* The estimates presented above are treated as historical information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144105