お知らせ • Mar 10
Frontier Lithium Inc Announces Pak Lithium Project Recognition
Frontier Lithium Inc. had announced that the Company's PAK Lithium Project has been recognized as a strategic priority critical minerals development under the Critical Minerals Production Alliance announced earlier last week at the 2026 Prospectors and Developers Association of Canada Convention in Toronto. The Project has been included on the G7 Critical Minerals Production Alliance list announced by the Government of Canada under its 2025–2026 G7 Presidency, a list which highlights projects that can benefit from international cooperation and policy coordination to advance development and get more minerals from reliable, trusted allies to markets. The announcement of a non-binding Memorandum of Understanding with Panasonic Energy for future lithium offtake from the refinery, as well as the conditional approval of a $2.3 million investment through NRCan's Global Partnerships Initiative to develop treatment options that support the valorization of its by-products, align well with G7 critical minerals priorities and highlight the importance of the PAK Lithium Project in helping develop a secure, localized North American battery supply chain. In addition to this federal recognition, the PAK Lithium Project has also been approved as the first project under the Government of Canada's Permitting Coordination for Clean Growth Projects initiative, which supports projects not designated under the Canadian Impact Assessment Act. The Federal permitting coordination framework is administered by the Impact Assessment Agency of Canada and the Clean Growth Office and is subject to the Cabinet Directive on Regulatory and Permitting Efficiency which sets out a service standard for issuing decisions on all Federal permits and authorizations of two years. These platforms provide Frontier with coordinated federal permitting support through Impact Assessment Agency of Canada and the Clean Growth Office, including the development of a detailed permitting plan outlining federal authorization requirements, key milestones, and departmental responsibilities. The process also provides a single federal point of contact to facilitate collaboration among Federal departments and agencies involved in project approvals, as well it can provide transparency allowing Federal progress reporting through the Canadian Impact Assessment Registry. Frontier's PAK Lithium Project, located in northwestern Ontario within the traditional territories of local First Nations, is expected to produce high-purity lithium concentrates and chemicals to support electric vehicle batteries and advanced energy storage technologies. The Company continues to work closely with Indigenous partners, Federal and Provincial governments, and industry stakeholders as it advances development of a vertically integrated lithium supply chain in Canada. The Company also announces that pursuant to its Stock Option Plan it has granted an aggregate of 4,775,450 stock options, to certain employees, officers, directors, and consultants. Each Stock Option is exercisable into one common share of the Company at a price of $0.87 per common share, expires 5 year from the date of grant and vests 50% on the date of issuance and 50% on the 1 year anniversary from the date of issuance. The Stock Options remains subject to approval by the TSX Venture Exchange. The PAK Lithium Project is a fully integrated critical minerals initiative in Ontario, developing a high-grade, large scale lithium resource. Operated as a joint venture between Frontier (92.5%) and Mitsubishi Corporation (7.5%), the project is advancing in parallel with a mine and mill, north of Red Lake, Ontario and a downstream lithium conversion facility in Thunder Bay, Ontario, which are both key to supporting a secure domestic lithium supply for the clean energy transition. A 2025 Mine and Mill Feasibility Study, prepared by DRA Global Limited and entitled National Instrument 43-101 Technical Report FS PAK Lithium Project, Mine and Mill, outlines a 31-year Project life with an after-tax net present value of $932 million at an 8% discount rate and an after-tax internal rate of return of 17.9%. These results have been disclosed in the Company's press release dated May 28, 2025, and the accompanying technical report was filed on SEDAR+ on July 9, 2025.