FRONTIER LITHIUM DISCOVERS A NEW LCT PEGMATITE AND ANNOUNCES RESULTS FROM 2022 REGIONAL MAPPING PROGRAM

SUDBURY, ON, Jan. 31, 2023 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) ("Frontier" or "the Company") is pleased to announce results from the 2022 mapping campaign at the PAK Lithium Project. The mapping program delivered several key results, including:

• Discovery of a new pegmatite zone approximately 1km WNW of the Spark deposit;
• Two grab samples with an average grade of 3.1 % Li₂O
• Significant expansion of the Pennock Pegmatite showing;
• Three grab samples grading 1.7%, 1.7%, and 3.0% Li₂O
• Generation of prospective targets to be followed up in future regional mapping and prospecting programs.

Garth Drever, Vice-President of Exploration, commented, "Our exploration team completed an efficient and targeted program throughout this past summer and fall. We expect that the identification of new mineralized zones and key structural features will not only expand our understanding of the project area but will also lead to additional discoveries and high-grade opportunities. We look forward to building on the results of our teams' hard work and plan to continue our methodical approach to this evolving lithium district."

2022 Mapping Program

Between the months of May and August, Frontier Lithium conducted both detailed and regional mapping and prospecting in areas both proximal to known spodumene-bearing pegmatites and in under-explored areas within its approximately 27,000 hectare land tenure with the following objectives:

• Ground-truthing regional work at 1:50k scale previously completed by Ontario Geological Survey (OGS)
• Reconnaissance prospecting for new lithium bearing pegmatites
• Further investigation of known lithium bearing pegmatite showings.

Figure 1 is a preliminary compilation of the work completed showing the coverage over the entire project area with more detail at the Pennock and Spark areas.  As many as 33 areas classified as pegmatite, pegmatite veins etc. (white crosses) have been identified and require follow-up.  Geochemical analysis was completed on 38 grab samples.  Table 1 is a summary of the grab samples from the Pennock and Spark-Ext areas.

Table 1: Summary of Mineralized samples from Pennock and Spark extension areas

New Showings

Spark Extension

A new LCT pegmatite showing 10 x 15m, was discovered approximately 1 km WNW of the Spark Pegmatite (See inset map in Figure 1 (Station 22TG0050)). The spodumene-bearing pegmatite is surrounded by mafic volcanic host rock and contains aplitic to pegmatitic zoning with a mineral assemblage of spodumene, quartz, muscovite, +-lepidolite and garnet.  These characteristics are all analogous to the Spark deposit and follows the same general trend of all currently discovered LCT pegmatites in the project area.  Pegmatite veins with similar mineralogy and texture can be traced up to 6km NW of Spark. Figure 2 shows the outcrop and a close-up of the typical "snowshoe" textures of the SQUI (spodumene quartz intergrowths).

Pennock extension

Additional mapping and prospecting proximal to the Pennock LCT pegmatite uncovered additional Li-bearing pegmatites, including three up to 30m in length. The Pennock showing which was previously defined as a 1.5 km-long pegmatite dike, has increase significantly in size, despite the low outcrop exposure.  The inset map in Figure 1 shows the location of two of the larger pegmatite outcrops both with grab samples averaging 1.7% Li2O. Station 22EB0109 with a grade of 3.0% Li2O is from the original Pennock showing. Figure 3 shows the two southern outcrops (Stations 22EB0128 and 22EB0130) with grabs samples each grading 1.7% Li2O.

Due Diligence

All scientific and technical information in this release has been reviewed and approved by Garth Drever, P.Geo., the qualified person (QP) under the definitions established by National Instrument 43-101.  During the mapping program representative samples were routinely collected using rock hammers, however, it should be noted that because of the nature of some outcrop surfaces, an optimum sample was difficult to obtain.  Sample blanks along with lithium, rubidium and cesium certified reference material was routinely inserted into the sample stream in accordance with industry recommended practices. Field duplicate samples were also taken in accordance with industry recommended practices. The samples were placed in poly sample bags and transported to Red Lake by float plane and then shipped to AGAT Laboratories Ltd. (AGAT) in Thunder Bay for sample preparation and to Mississauga, Ontario for processing and quantitative multi-element analysis. AGAT is an ISO accredited laboratory.

Other Matters

The Company would also like to announce at this time that is has granted 150,000 stock options under the New Stock Option Plan (the "Options"). The Options have been issued to certain directors, officers, or employees of the Company. The Options are exercisable at a price of $ $2.30 per common share and will have a term of 5 years from the date of issuance. 50% of these Options vest on the grant date, and the remaining 50% vest on the date that is the first anniversary date of the grant date. These Options are subject to approval by the TSXV.

Frontier Lithium is a preproduction business with an objective to become a strategic domestic supplier of spodumene concentrates for industrial users as well as battery-grade lithium hydroxide and other chemicals to the growing electric vehicle and energy storage markets in North America. The Company maintains the largest land position and resource in a premium lithium mineral district located in Ontario's Great Lakes region.

The PAK lithium project contains one of North America's highest-grade lithium resources. The project encompasses close to 27,000 hectares 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. Exploration is continuing on the project through two other spodumene-bearing discoveries: the Bolt pegmatite (located between the PAK and Spark deposits), as well as the Pennock pegmatite (25 kilometres northwest of PAK deposit within the project claims). A 2021 preliminary economic assessment (National Instrument 43-101 technical report titled "NI 43-101 Technical Report, Pak Property, PAK, Red Lake Mining District, Ontario, Canada" by BBA E&C Inc., with an effective date of April 5, 2021) delivered a fully integrated lithium operation, including the mine and mill and the conversion plant for production of battery-quality lithium salts.

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. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings available at sedar.com.

SOURCE Frontier Lithium Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2023/31/c0069.html