Vision Lithium files Sirmac PEA NI 43-101 tech report

Mar 27, 2023

2023-03-27 11:27 ET – News Release

Mr. Yves Rougerie reports

VISION LITHIUM FILES PRELIMINARY ECONOMIC ASSESSMENT TECHNICAL REPORT FOR THE SIRMAC LITHIUM PROJECT

Vision Lithium Inc. has filed the technical report supporting the preliminary economic assessment (PEA) for the company’s 100-per-cent-owned Sirmac lithium project, located within the Frotet-Evans greenstone belt of Northern Quebec. The technical report, titled “NI 43-101 technical report: preliminary economic assessment on pegmatite dike No. 5 lithium-tantalum deposit; Sirmac property, Quebec,” dated Feb. 15, 2023, was prepared in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects by Claude Duplessis, PEng, senior engineer, GoldMinds Geoservices (GMG) and Daniel Dufort, PEng, engineer, GMG.

The positive PEA, announced Feb. 21, 2023, demonstrates the potential for Vision Lithium to develop the Sirmac deposit as a direct shipping operation (DSO) with potential very high returns.

Preliminary economic assessment highlights:

Pre-Tax net present value (“NPV”) (discount rate 5%) of C$183.6M, internal rate of return (“IRR”) of 839% and payback less than 1 year
After-Tax NPV (discount rate 5%) of C$104.8M, IRR of 484% and payback less than 1 year
Assumed DSO selling price of US$591 per tonne / C$797 per tonne based on US $4,100/t concentrate pricing
4 years of mine life with 321,000 tonnes of DSO at 1.33 % Li2O
Revenue of C$253.4M
Life of Mine capital of C$3.1M
Operation cost per tonne of DSO at C$142

The PEA is preliminary in nature. Although 85% of the resources used for the PEA are Measured & Indicated, the report does include Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA in the Technical Report will be realized. Mineral resources that are not mineral reserves have not demonstrated economic viability. Additional work will be required to convert Inferred mineral resources to Indicated or Measured mineral resources.

The Technical Report can be found on the Company’s website at www.visionlithium.com and under the Company’s profile on SEDAR at www.sedar.com.

Qualified Person

The technical content of this news release has been reviewed and approved by Claude Duplessis, P.Eng., and Daniel Dufort, P.Eng., both of GoldMinds Geoservices Inc. and qualified persons as defined by NI 43-101.

About Vision Lithium Inc.

Vision Lithium Inc. is a junior exploration company focused on exploring and developing high quality mineral assets including lithium and copper in Canada. The Company is led by skilled and qualified mineral exploration experts and business professionals with a deep understanding of the battery materials market, which is driven by lithium-ion batteries. Vision Lithium is committed to discovering new, world-class assets and bringing these assets to production, starting with its advanced Sirmac lithium property in Quebec and Godslith lithium property located in Manitoba; its greenfield Cadillac lithium and Decelles lithium properties in Quebec, and a group of base metal rich Ni-Cu-Co and/or Cu-Zn-Ag-Au properties in Eastern Quebec and New Brunswick.

We seek Safe Harbor.

https://visionlithium.com/