Joshua Gold Resources Inc. Exploring Lithium Property

Rhea-AI Summary

Joshua Gold Resources Inc. (JSHG) announces a Drone Magnetometer Survey at its Seymour Lake Extension property in Ontario to identify potential lithium drill targets. The property, covering 1,371 acres, is adjacent to Green Technology Metals’ Seymour Lake lithium deposit, estimated to contain 2 to 3 million tons of lithium. The global lithium market is projected to grow from $3.83 billion in 2021 to $6.62 billion by 2028, driven by increased demand for lithium in electric vehicles. JSHG's CEO expressed enthusiasm about the upcoming survey results and their implications for exploration.

Positive

• Conducting Drone Magnetometer Survey to identify lithium drill targets.
• Seymour Lake property adjacent to a significant lithium deposit, which could enhance future prospects.
• Global lithium market projected to grow significantly, indicating strong potential demand.

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• None.

WOODSTOCK, Ontario, Feb. 09, 2022 (GLOBE NEWSWIRE) -- via InvestorWire – Joshua Gold Resources Inc. (“JSHG” or “Joshua”) (OTCMKTS: JSHG), an American gold and mineral exploration company headquartered in Canada, is pleased to announce that it will be conducting a Drone Magnetometer Survey on its 100% owned Seymour Lake Extension property in order to pinpoint potential lithium (Li) drill targets.

JSHG’s Seymour Lake Extension lithium prospect property is situated in northwestern Ontario within the Caribou-Marshall Lake Greenstone Belt and consists of 27 unpatented claim units covering 1,371 acres.  The Seymour Lake Extension property is adjacent to Green Technology Metals’ Seymour Lake lithium deposit that is 300 meters west of JSHG’s ground. Green Tech Metal’s Seymour Lake project is estimated to contain 2 million to 3 million tons of 1.25% lithium.

“With the global surge in electric vehicle production, lithium prices have exploded as it is a primary component of EV production,” said Ben Fuschino, JSHG CEO. “Since our property is adjacent to a lithium deposit, we are excited to review the results of our Drone Magnetometer Survey. Once we get the results, we will have our geological team figure out our next steps in the exploration program.”

The global lithium market is projected to grow from USD$3.83 billion in 2021 to USD$6.62 billion in 2028 at a CAGR of 8.1% during the forecast period. Prices continue to surge, along with increasing demand from lithium battery manufacturers who are racing to secure long-term supply contracts. Rapid advancements in rechargeable batteries, essential for portable electronics and electric vehicles, are driving growth in the lithium battery market.

About Joshua Gold Resources Inc.

Joshua Gold Resources Inc. (OTC Pink: JSHG) is a publicly traded American gold and mineral exploration company headquartered in Canada, home to the 3 billion-year-old Canadian Shield which contains a wealth of minerals from nickel, gold, copper, lithium, cobalt, niobium, lithium to chromium. Please visit http://www.joshuagoldresources.com/ for more information.

Safe Harbor Statement: This press release contains forward looking statements of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward looking statements are not a guarantee of future performance and results, and will not be accurate indications of the times, or by, which such performance will be achieved.

Investor Relations Contact:
Peter Nicosia
President, Bull In Advantage, LLC
Phone: (585) 703-6565
Email: bullinadvantage@aol.com

Wire Service Contact
InvestorWire (IW)
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Attachment

• Joshua Gold Resources Inc. (JSHG) to Survey Potential Lithium Drill Targets

FAQ

What is Joshua Gold Resources Inc. (JSHG) planning to do with its Seymour Lake Extension property?

JSHG is conducting a Drone Magnetometer Survey to identify potential lithium drill targets.

How large is the Seymour Lake Extension property owned by JSHG?

The Seymour Lake Extension property covers 1,371 acres.

What is the estimated size of the lithium deposit near JSHG's property?

The adjacent lithium deposit is estimated to contain 2 to 3 million tons of lithium at 1.25% grade.

What is the projected growth of the global lithium market?

The global lithium market is expected to grow from $3.83 billion in 2021 to $6.62 billion by 2028.

Why is JSHG's exploration of lithium significant?

With the surge in electric vehicle production, the demand for lithium has increased significantly, driving prices higher.