12:57:47 EST Thu 26 Dec 2024
Enter Symbol
or Name
USA
CA



Frontier Lithium Inc
Symbol FL
Shares Issued 227,627,041
Close 2024-10-07 C$ 0.62
Market Cap C$ 141,128,765
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Frontier Lithium to receive $6.1M funding from Canada

2024-10-07 18:50 ET - News Release

Mr. Trevor Walker reports

FRONTIER UNLOCKS CONDITIONAL $6.1M IN FEDERAL FUNDING FOR CRITICAL MINERALS INFRASTRUCTURE PROJECTS

Frontier Lithium Inc. has been awarded up to $6.1-million in funding from the government of Canada for mine access road and power transmission line infrastructure projects. This funding has been secured through the Critical Minerals Infrastructure Fund, a federal initiative aimed at advancing clean energy and transportation infrastructure in Canada's critical mineral sector.

Pending final due diligence, Natural Resources Canada has conditionally approved two investments for a total of up to $6.1-million under the CMIF for two projects that will support the development of Frontier Lithium's PAK lithium project in Northwestern Ontario.

One project is the preconstruction activities, including environmental studies, for an all-season, 56-kilometre, two-lane mine access road that would link the PAK lithium project to the Ontario highway system.

The second project will conduct engineering, design and permitting studies for a substation and transmission line to enable grid connection from the PAK lithium project to the Wataynikaneyap (Watay) power transmission line.

As both infrastructure projects advance, Frontier Lithium is committed to continued engagement and consultation with local and indigenous communities.

Trevor Walker, president and chief executive officer of Frontier Lithium, expressed his excitement about the award: "We are thrilled to receive this funding for the advancement of an all-season road and electricity infrastructure in the region of our PAK lithium project. As we move forward on our path to building the first fully integrated lithium mining and processing operation in Ontario, we know our objectives align nicely with that of the Critical Mineral Infrastructure Fund: to address infrastructure gaps, reduce emissions and advance reconciliation with indigenous peoples."

This government of Canada support reflects the importance of indigenous engagement and collaboration in developing key infrastructure in Northwestern Ontario. It also recognizes the role these infrastructure projects will play in supporting the company's vision to become a significant supplier of lithium chemicals to the growing electric vehicle and energy storage markets across North America.

About Frontier Lithium Inc.

Frontier Lithium is a preproduction business with an objective to become a strategic and integrated 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's PAK lithium project maintains the largest land position and resource in a premium lithium mineral district located in Ontario's Great Lakes region.

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