Palm Beach, FL – December 9, 2021 – FinancialNewsMedia.com News Commentary The demand of lithium is a by-product of the rapid rise of use electric vehicles (EV) and ion batteries in all sorts of consumer and industrial products. Lithium is an integral component of batteries for electric vehicles. As EV purchases have rocketed so has the need for batteries, in turn fueling lithium demand. S&PGlobal said that production of the battery metal is set to almost triple by 2025 to more than 1.5 million metric tons. ReserachAndMarkets says that over the next four years, the increasing consumption of Li-ion batteries by automotive and consumer electronics industries is expected to create a measurable boost in need for lithium mining activities in the near future.  The Research report stated some Key Insights regarding Lithium Mining Market, saying that: “Over 15 million MT lithium deposits are globally available in an extractable form; Chile (8.6 MMT), Australia (2.8 MMT), Argentina (1.7 MMT), and China (1MMT) lead in terms of potential/extractable lithium reserves; Australia and China constituted more than 60% of world’s lithium production in 2019. In 2019, the production of lithium stood at 77 thousand MT whereas, the demand registered was 57.7 thousand MT. Thus, close to 20 thousand MT of lithium was over-produced and left unsold to be stocked later.”  Active mining stocks in the markets this week include:  First Energy Metals Limited (OTCQB: FEMFF) (CSE: FE), Standard Lithium Ltd. (NYSE: SLI) (TSXV: SLI), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), American Lithium Corp. (OTCQB: LIACF) (TSX-V:LI), Neo Lithium Corp. (OTCQX: NTTHF) (TSXV: NLC).

ReserachAndMarkets added that: “Li-ion battery prices dropped to 89% between 2010 and 2020, thereby increasing affordability of EVs to general public. The cost of lithium hydroxide is higher than that of lithium carbonate. However, increasing demand for the former in development of highly efficient Li-ion batteries will overtake that of the latter in the next few years. Lithium production has been free from any significant disruptions caused by COVID-19 pandemic. Also, the current high stock levels of lithium would be sufficient to buffer the industry.  Lithium producers will benefit from EV sales. The current EV stock is expected to double by 2030 and EVs are anticipated to displace conventional passenger vehicle sales by 10% towards the end 2025.”

First Energy Metals Limited (OTCQB: FEMFF) (CSE: FE) BREAKING NEWS:  Update – First Energy Metals Ltd. (“First Energy” or the “Company) is pleased to announce results of drill hole LC21-09 at its Augustus Lithium Property in Quebec, Canada. The drill hole intersected a 39 meters spodumene pegmatite in which a 7-meter-wide zone assayed 1.12 percent (%) lithium oxide (Li2O) at 11 metres (m) drilled depth. The Company is also pleased to announce commencement of Phase 2 drill program on December 6 at the Property by Forage Hebert Inc. Drilling of Amos, Quebec. The drilling company completed 5,847.15 Phase 1 drilling on the Property and is again contracted for this work.

Highlights:

• A 39 metres wide spodumene pegmatite intersection (from 7 to 46 m drilled depth) with average 0.17 % lithium (Li) or 0.37% Li2O. There are four higher grade intersections included within this wider pegmatite as listed below.

• Seven-meter wide spodumene pegmatite zone with 1.12% Li2O at 11 m drilled depth.
• Two-meter wide spodumene pegmatite zone with 0.90% Li2O at 22 m drilled depth.
• Two-meter wide spodumene pegmatite zone with 0.74% Li2O at 26 m drilled depth.
• Two-meter wide spodumene pegmatite zone with 0.31% Li2O at 44 m drilled depth.

Drill hole LC21-09 was drilled at Canadian Lithium / Beluga Prospect, UTM location: 284822E, 5368321N (NAD 1983 UTM Zone 18N), Azimuth 48.2 degrees, Dip -44.2 degrees with a total drilled depth of 147 m. All intersections reported are based on drilled width and have not been converted to the true width. The drill core was logged and sampled at the core shack using a rock saw. For quality control and quality assurance (QA/QC), field duplicates, standards and blanks were inserted at industry standard intervals. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories (“ACTLABS”), Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 and sodium peroxide fusion (Na2O2). ACTLABS is an independent commercial, accredited ISO Certified Laboratory.

For the Phase 2 drill program, a B-20 drill rig has been deployed which has a capacity to drill up to 1,000-meter-deep hole. The core shack built during Phase 1 drilling at the village of St-Dominique du Rosaire located about 50km from the Property will be used for drill core logging, sample preparation and storage.

Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.  CONTINUED….  Read this release for the First Energy Metals news at:  https://www.financialnewsmedia.com/news-fe/

Other recent mining developments in the markets include:

Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) and Millennial Lithium Corp. recently announced that they have entered into a definitive arrangement agreement dated November 17, 2021 (the “LAC Arrangement Agreement”) pursuant to which Lithium Americas has agreed to acquire all of the outstanding shares of Millennial (each, an “ML Share”) by way of a plan of arrangement (the “LAC Transaction”) for C$4.70 per ML Share, payable in common shares of Lithium Americas (the “LAC Shares”) and C$0.001 in cash per ML Share (collectively, the “Purchase Price”), representing total consideration of approximately US$400 million. Based on Lithium Americas’ closing price on November 16, 2021, this consideration would result in Millennial Shareholders owning approximately 9.1% of Lithium Americas.

Prior to entering into the LAC Arrangement Agreement, Millennial terminated the arrangement agreement between Millennial and Contemporary Amperex Technology Co., Ltd. (“CATL”) dated September 28, 2021, as amended and assigned to Canada Brunp Contemporary (Investment) Inc. (“CBC”) on October 12, 2021 (the “CATL Arrangement Agreement”), in accordance with its terms.

“This transaction is a rare opportunity to add a complementary lithium brine project and leverage our expertise developing Caucharí-Olaroz as the largest new lithium carbonate operation to come online in over 20 years,” said Jonathan Evans, President and CEO of Lithium Americas. “We are confident Pastos Grandes can provide significant value for all shareholders as we execute on our growth strategy in the region over the coming years.”

Standard Lithium Ltd. (NYSE: SLI) (TSXV: SLI), an innovative technology and lithium project development company, recently announced that Koch Strategic Platforms (“KSP”), a subsidiary of Koch Investments Group, has completed its US$100 million investment in Standard Lithium through a direct private placement (the “Direct Investment”). The Direct Investment is intended to support the Company’s strategic development goals and will be used by the Company to pursue the following objectives:

Continue to rapidly advance the first commercial project proposed for the Lanxess facility; Accelerate and expand the Company’s development of the South West Arkansas Lithium Project; Continue to develop and commercialise modern lithium extraction and processing technologies and work collaboratively with Koch Engineered Solutions (“KES”) businesses; and, Allow for strategic project expansion.

The Company, along with several Koch Industries subsidiaries, is also exploring opportunities to work collaboratively in several key areas. These potentially include working with KES which provides key process equipment, engineering, procurement, and construction services; as well as Koch Minerals & Trading which is involved in the trading of many of the materials that will be required by the Company in the future, as well as the lithium products it intends to produce.

American Lithium Corp. (OTCQB: LIACF) (TSX-V:LI) recently announced that initial exploration drilling has been launched at TLC North (Big Smoky acquisition land) near Tonopah Nevada. Initial drilling has successfully drilled thick intersections (up to 96.9 m / 318 ft) of lithium-bearing claystone.

A drone magnetic geophysical survey is also being flown across a large portion of the TLC project area to provide detailed geophysical information as the Company finalizes the precise positioning of drill collars for its next phase of development drilling under its Plan of Operations filed in January 2021 and expected to receive final approval in mid-late December 2021.

Neo Lithium Corp. (OTCQX: NTTHF) (TSXV: NLC) recently announced positive results of a National Instrument 43-101 Feasibility Study (“FS”) for the production of lithium carbonate from its wholly owned Tres Quebradas lithium brine project (“3Q Project”) in Catamarca Province, Argentina.

The Technical Report, which is currently on QP review stage, was prepared by Worley, a leading global provider of professional project and asset services in the energy, chemicals and resources sectors with extensive experience in the design and construction of some of the largest and lowest cost lithium brine processing facilities in Chile and Argentina. The resource and reserve estimate were completed by brine resource and reserve experts Groundwater Insight Inc. (“Groundwater”).

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