CLM Announces Management and Board Changes

TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- Consolidated Lithium Metals Inc. (TSXV: CLM | OTCQB: JORFF | FRA: Z36) (“CLM” or the “Company“) is pleased to announce the appointment of Brett Lynch as Executive Chairman, Richard Quesnel as President and Chief Executive Officer, and Rene Bharti as Vice President of Corporate Development, each effective immediately.

Brett Lynch appointed as Executive Chairman

Mr. Lynch stated, “having been a director on the board of CLM for several years, I am excited to further deepen my role and responsibilities in CLM as Executive Chairman. I believe that CLM is ideally placed to become a significant player in the development of Quebec’s lithium supply chain. I anticipate that our experience and proven leadership team can fast track the defining of a mineral resource and, ultimately, the establishment of the first refined lithium production in the area.”

Brett Lynch Biography

Mr. Lynch is a highly experienced international company director and chief executive, with a strong background in mining and mining-related businesses across Australia, Asia, and North America and a proven track record in advancing shareholder value. As a senior mining engineer and manager, Mr. Lynch has more than 30 years’ experience in the global industry, including previous posts with leading resources companies such as MIM Holdings, New Hope Corporation, Orica, VLI, and Sayona Mining Ltd., during which time he was responsible for multi-million dollar international operations. Mr. Lynch’s professional qualifications include a Bachelor of Engineering (Mining) (Honours) at the University of Melbourne, a Graduate Diploma of Business (Accounting) at Monash University, and a Company Director Diploma from the Australian Institute of Company Directors.

Richard Quesnel appointed as President & CEO

Mr. Quesnel stated, “I am pleased to be transitioning to President and Chief Executive Officer, and thrilled to welcome Brett Lynch, a seasoned lithium mining executive, as CLM’s Executive Chairman of the Board. Using our combined technical experience, we intend to keep the company focused on defining a lithium mineral resource base and vertically integrating downstream by taking advantage of our close proximity to North America’s only operating lithium mine.”

Richard Quesnel Biography

Mr. Quesnel served 5+ years as President and Chief Executive Officer of Consolidated Thompson Iron Mines of Montreal. He has 40+ years of senior mine management and senior engineering experience at large gold, copper, nickel and iron ore mining operations in Canada and Western USA. He has successfully developed, commissioned, operated and expanded mining operations, both open pit, and underground. Throughout his career, Richard Quesnel has worked as a mine manager and as mining engineer for several mining companies including Barrick Goldstrike, Quebec Cartier Mining, Placer Dome, JS Redpath Limited, and Ledcor CMI Limited. Mr. Quesnel is also a director of Sama Resources Inc. He is a Professional Mining Engineer in Quebec and holds a Bachelor of Science degree in Mining Engineering from McGill University.

The appointment of Mr. Lynch as Executive Chairman follows the resignation of Mr. Quesnel from the position, who has been appointed as President and Chief Executive Officer. Mr. Quesnel’s appointment follows the resignation of Mr. Rene Bharti, who has been appointed as Vice President of Corporate Development. Management and the board of directors of the Company express their gratitude to Mr. Bharti for his efforts and contributions.

In addition, the Company announces that it has granted 6,000,000 stock options to Brett Lynch pursuant to the Company’s stock option plan. The stock options vest in equal quarterly installments over two years and may be exercised at a price of $0.015 per option for a period of five years from the date of grant. This grant of options is subject to the approval of the TSX Venture Exchange.

About Consolidated Lithium Metals Inc.
Consolidated Lithium Metals Inc. is a Canadian junior mining exploration company trading under the symbol “CLM” on the TSX Venture Exchange and “Z36” on the Frankfurt Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium’s Quebec lithium mine.

For more information:
Rene Bharti, VP Corporate Development
Email | info@consolidatedlithium.com
Phone | (416) 861-5800
Website |www.consolidatedlithium.com

Cautionary Statements

The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on its properties and it is uncertain if further exploration will result in any target being delineated as a mineral resource. CLM is not basing any production or mining decisions on a technical report or a feasibility study of mineral reserves demonstrating economic and technical viability at any of its properties, and as a result there is increased uncertainty and there are multiple technical and economic risks of failure which are associated with any such production decision. These risks, among others, include areas that are analysed in more detail in a feasibility study, such as applying economic analysis to resources and reserves and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s ability to execute its business plan, including to define a lithium mineral resource, become a significant player in the Quebec’s lithium supply chain, establish lithium production, and vertically integrate downstream. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CLM to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although CLM has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. CLM does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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