LION SIGNS URANIUM MOU

Rhea-AI Summary

Global Li-Ion Graphite Corp. (CSE: LION, OTCQB: GBBGF) has signed a Memorandum of Understanding (MOU) with a private Malagasy company to conduct due diligence on Uranium prospects in Madagascar. Historical and recent exploration indicates significant potential for Uranium deposits. The chairman emphasized the project's importance for green energy and nuclear power's role in the growing energy demands of the tech industry.

Positive

• Global Li-Ion Graphite Corp. has entered into an MOU for Uranium exploration in Madagascar, indicating potential portfolio diversification.
• Historical and recent exploration work suggests significant Uranium deposits in Madagascar, presenting a valuable opportunity.
• The company's expansion into Uranium projects aligns with global efforts for green energy, potentially enhancing its market positioning.

Negative

• The announcement is based on an MOU and is in the due diligence stage, meaning there is no guarantee of project success or profitability.
• Potential risks include the geological, operational, and regulatory challenges associated with Uranium exploration.
• Any failure in the due diligence process or subsequent project development could negatively impact investor confidence and financial performance.

Vancouver, British Columbia, June 07, 2024 (GLOBE NEWSWIRE) -- Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION, OTCQB: GBBGF, F: 0TD) Is pleased to announce it has entered into a MOU with a private Malagasy Company to complete due diligence on its Uranium prospects in Madagascar. The projects have been subject to previous exploration work which has shown great potential to host Uranium. The 20^th century saw extensive exploration work that proved Madagascar to host significant Uranium deposits and also saw Uranium produced in Madagascar. Uranium exploration undertaken in Madagascar since 2000, has improved the understanding of Malagasy Uranium prospects and led to heightened interest in this underdeveloped Uranium province.

Chairman Jason Walsh commented, “We are very pleased to have this opportunity to add a Uranium project to our portfolio. Uranium and thereafter nuclear energy are by far the most important key piece to the Global effort of green energy for electrification. Nuclear energy has also become a hot topic in the AI world as the tech industry realizes the amount of power needed to run the computers for generative AI.”

About the Uranium Project

The focus is on the Karoo Supergroup which work to date has shown to be the most prospective stratigraphic unit in Madagascar for Uranium with some areas of skarn also to be considered. Exploration and appraisal work will identify areas for ground truthing of known “hot-spot” Uranium along with intensive ground radiometrics (augmented potentially by targeted very high resolution aerial radiometry) and topographical mapping of targeted areas. This work will form the basis of planning for a detailed drill program.

About Ambato-Arana Graphite Mine, Madagascar
The 3 forty-year renewable mining exploitation licenses that comprise the Project total 4,375 hectares (10,811 acres) are located in the vicinity of Andasibe in Toamasina Province in Madagascar, 20 km to the southwest of Sheritt’s large-scale nickel/cobalt laterite open pit mine at Ambatovy and 15 km northeast of the town of Moramanga from which national highway RN2 connects with capital city Antananarivo (114 km) and Madagascar’s main port of Toamisina (Tamatave) (240 km). Graphite was produced on the licenses, at a modest rate constrained by the technology employed on the licenses at that time, for roughly a century from 1910. Production was suspended by the previous owners due to a slump at the time in Global Graphite markets and with the deposits only partially mined. The deposits are now ready for larger scale exploitation with modern production techniques. They lie within the graphitic horizons of the highly prospective Manampotsy Formation and are associated with topographic highs that are exploited via free digging of lateritic ore and open pit mining, providing a lower cost exploitation without need for blasting. The graphite mineralization on the Project appears within well-defined north-south belts with interbedded graphite-rich friable layers. The geological layers of interest have continuity of several kilometres and exhibit a shallow dip angle. Sample data indicate good grade (up to 10% carbon content with some samples up to nearly 14%) and large flake (jumbo size) consistent with other nearby mines e.g. Gallois (Elate Graphite), Sahamamy & Vatomina (Tirupati Graphite) and DNI Metals’ Vohitsara (DNI Metals).

Further information about Global Li-Ion is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and the Company’s website, www.globalli-iongraphite.com.

For Further information about the Company, please contact:
Jason M. Walsh
Global Li-Ion Graphite Corp.
Telephone 604.608.6314
Email: info@liongraphite.com

Neither the Canadian Securities Exchange nor its regulation services provider have reviewed or accept responsibility for the adequacy or accuracy of this press release.

Forward-Looking Information:

This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “intend”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks discussed in the Company's Management's Discussion and Analysis under the Company's profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

FAQ

What is the significance of Global Li-Ion's MOU for Uranium prospects in Madagascar?

The MOU allows Global Li-Ion to conduct due diligence on promising Uranium prospects in Madagascar, potentially diversifying its project portfolio.

What does the historical exploration of Uranium in Madagascar reveal?

Historical exploration has shown that Madagascar hosts significant Uranium deposits, which were extensively explored and produced in the 20th century.

How does the Uranium project align with Global Li-Ion's strategic goals?

The Uranium project supports Global Li-Ion's expansion into green energy, aligning with global efforts for sustainable electrification and nuclear power.

What potential risks does Global Li-Ion face with the Uranium project in Madagascar?

Potential risks include geological, operational, and regulatory challenges, and the uncertainty of the due diligence outcome.