Company Completes Shares for Debt Transaction to Strengthen Financial Position

The Company completed a Shares for Debt Transaction to improve its financial position by reducing existing liabilities. All Shares issued to Creditors are subject to a four-month and one-day hold period. The Company is an exploration company based in Vancouver, BC, and holds options over the Darlin, Rapide, Lac La Motte, and CYR South lithium properties in Quebec and the Yurchison uranium property in the Athabasca basin, Saskatchewan.

The Company owns the James Bay Pontax project in Quebec and the Superb Lake lithium property located in Thunder Bay, Ontario. The Company is a party to a joint venture agreement that engages the Company in the development and commercialization of a new process to extract lithium from spodumene concentrate. This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the Shares for Debt Transaction and the purpose thereof, are forward-looking statements. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-Looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements

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