Vancouver, British Columbia--(Newsfile Corp. - December 2, 2021) - ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the "Company", or "ACME") is pleased to report that it has acquired by staking 27 claims totaling approximately 11,803 acres strategically situated in the pegmatite fields of the Bird River Greenstone Belt (BRGB) in southeastern Manitoba, Canada. The mineral claims are 100% owned by ACME Lithium Inc.
The northern and southern limbs of the Bird River Greenstone Belt contain at least 10 pegmatite fields and host hundreds of individual pegmatite bodies, of which many are classified as complex rare-element Lithium-Cesium-Tantalum (LCT) pegmatites. In both limbs of the BRGB, pegmatites are associated with granitic intrusion into structurally dilatant zones adjacent to major east-west shear zones.
Worldwide, LCT pegmatite deposits account for about one-fourth of the world's lithium production, most of the tantalum production, and all the cesium production. The world-class Tanco Mine, a lithium, cesium, and tantalum producer since 1968, is in the southern limb of the BRGB.
Shatford Lake Pegmatite Field
The Company has staked 21 claims totaling approximately 8,883 acres in the southern limb of the Bird River Greenstone Belt. These claims straddle a 15 kilometers long structural trend of the Greer-Shatford Shear Zone with numerous pegmatite dykes and favorable host rocks. The northeast corner of the Company's ground abuts the Mineral Lease of the Tanco Mine, and the south shore of Bernic Lake with the Buck, Pelgi, and Dibs pegmatites nearby.
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Cat-Euclid Lake Pegmatite Field
The Company has staked 6 claims totaling approximately 2,920 acres in the northern limb of the Bird River Greenstone Belt. The new claims straddle the prospective Cat-Euclid Lake shear zone and extend along the southeasterly trend of known pegmatite occurrences. Australia's Mineral Resources Limited (MRL), one of the world's leading lithium producers with a market capitalization of over AUD$8 billion recently signed a joint venture agreement with Lithium Canada Development (New Age Metals Inc.) to the west of ACME's Cat-Euclid Lake Lithium project.
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ACME Lithium's exploration strategy in the Bird River Greenstone Belt is to employ remote sensing, structural geology, ground-based geological mapping, and geochemical sampling to localize targets for drilling. Our exploration focus is on spodumene-bearing LCT pegmatites that can be a source for lithium carbonate deposits.
North American lithium demand is accelerating at a rapid rate and there is a growing need to secure domestic supply in the United States and Canada. Bloomberg estimates that the U.S. will have 3.2 million passenger EV sales by 2028. Industry experts suggest that 20 times the current supply of lithium globally will be required over the next ten years.
"We identified the south east region of Manitoba as a global area of focus and opportunity for emerging and developing lithium projects," stated Steve Hanson President and CEO. "It is critical that we invest and ultimately boost domestic lithium supplies sustainably to ensure our needs are met for the long term."
William Feyerabend, Certified Professional Geologist is a qualified person as defined by NI 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release.
About ACME Lithium Inc.
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in 122 prospective lithium brine claims encompassing approximately 2,440 acres, comprising the CC, CCP, JR and SX placer lithium claims, located in Clayton Valley, Esmeralda County, Nevada. ACME also holds a 100-per-cent interest in the FLV claims, being 144 lode mining claims totaling approximately 2,921 acres, in Esmeralda County, Nevada, which are prospective for lithium contained in tertiary claystones.
On behalf of the Board of Directors
Chief Executive Officer, President and Director
Telephone: (604) 564-9045
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This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the exercise of the Option, the undertaking of any expenditures on the Project Claims, including drilling thereof. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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