Canter Receives Formal Water Permits Issued by the NDWR and Engages SRK for Permitting at Columbus

Rhea-AI Summary

Canter Resources Corp. (CSE: CRC) (FSE: 601) (OTC Pink: CNRCF) has received formal water permits from the Nevada Division of Water Rights for Applications 90140 and 92509, granting access to 2,235.64 acre-feet annum of groundwater from the Columbus Salt Marsh Valley Basin. CEO Joness Lang expressed excitement over this major milestone and thanked partners for their hard work. The company has engaged SRK Consulting for environmental permitting support and is on track to commence its Phase I program at Columbus in the first half of Q1/2024.

Positive

• Formal water permits received for Applications 90140 and 92509
• Access granted to 2,235.64 acre-feet annum of groundwater from the Columbus Salt Marsh Valley Basin
• Engagement of SRK Consulting for environmental permitting support
• On track to commence Phase I program at Columbus in the first half of Q1/2024

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - December 14, 2023) - Canter Resources Corp. (CSE: CRC) (FSE: 601) (OTC Pink: CNRCF) ("Canter" or the "Company") is pleased to announce that the formal water permits pertaining to Applications 90140 and 92509 have now been issued by the Nevada Division of Water Rights ("NDWR"). This final step in the approval process grants access to appropriate the waters of the State of Nevada, for a total amount of groundwater of 2,235.64 acre-feet annum from the Columbus Salt Marsh Valley Basin, 118 (see news release Nov 28, 2023 for more details).

"We are thrilled to formally have water permits in place that cover the Columbus Lithium-Boron Project and a significantly broader area within the strategically located Columbus Basin," commented CEO Joness Lang. "This is a major milestone given the water access challenges in the region, and I'd like to personally thank our partners (Craig family) for all of the time and hard work that went into securing these permits." Mr. Lang added, "We have also engaged SRK to support our permitting work for our initial well drilling and remain on track to commence our Phase I program at Columbus during the first half of Q1/2024."

The Company recently engaged SRK Consulting ("SRK") to provide strategic environmental permitting support. Personnel from SRK's Elko and/or Reno, Nevada offices will be assigned to the Columbus Project with initial steps including the filing of a Notice of Intent (NOI) and permitting for the Company's highest priority drillhole/well locations.

About the Columbus Lithium-Boron Project

The 23,000-acre and 100%-controlled Columbus Lithium-Boron Project (the "Project") presents a compelling case for significant lithium mineralization in brines given its strategic location, geological setting, and promising geochemical profile. The Project's strategic location within the Basin and Range Province is central to the basin's structural and hydrological closure over the past 23 million years. This unique and distinct structural setting creates a potential reservoir for lithium and boron mineralization. Previous drilling provides evidence of a network of aquifers and Luna Lithium's drill hole north of the priority target area also returned up to 1,600 ppm lithium in clays. Phase I drilling is set to commence during Q1/2024.

Qualified Person (QP)

The technical information contained in this news release was reviewed and approved by Eric Saderholm P.Geo, Director of Canter Resources, a Qualified Person (QP), as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Canter Resources Corp.

Canter Resources Corp. is a Canadian junior mineral exploration company advancing the Columbus Lithium-Boron Project in Nevada, USA, the Beaver Creek Lithium Property in Montana, USA, and the Puzzle Lake Property in Saskatchewan, Canada. The Company is preparing for a Phase I drill campaign at Columbus to test a highly prospective lithium-brine target and plans to leverage the Company's critical metals targeting database to generate a portfolio of high-quality projects with the aim of defining mineral resources that support the domestic clean energy supply chain in North America.

For further information contact:

Joness Lang
Chief Executive Officer
Canter Resources Corp.
jlang@canterresources.com

For investor inquires please contact:

Investors@canterresources.com
T: 604.908.1695

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, the completion of the Transaction and related matters. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Canter Resources Corp., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/190973

FAQ

What permits has Canter Resources Corp. (CSE: CRC) (FSE: 601) (OTC Pink: CNRCF) received from the Nevada Division of Water Rights?

Canter Resources Corp. has received formal water permits for Applications 90140 and 92509, granting access to 2,235.64 acre-feet annum of groundwater from the Columbus Salt Marsh Valley Basin.

Who has Canter Resources Corp. engaged for environmental permitting support?

Canter Resources Corp. has engaged SRK Consulting for environmental permitting support.

When is Canter Resources Corp. planning to commence its Phase I program at Columbus?

Canter Resources Corp. is on track to commence its Phase I program at Columbus in the first half of Q1/2024.