‘Lithium Two’ is the Latest Property Acquisition by Joshua Gold Resources

Rhea-AI Summary

Joshua Gold Resources Inc. (OTC Pink: JSHG) has acquired 100% ownership of 30 mining claims on a property named Lithium Two located near Timmins, Ontario, Canada. This acquisition entails approximately 1200 acres of potential mineral resources and is strategically positioned near the company's existing Lithium One property, of which JSHG owns a 50% stake. The claims, situated in a granite-rich area known for spodumene deposits, aim to enhance JSHG's footprint in the lithium sector, driven by rising demand for lithium in electric car batteries. The company plans to conduct sampling to evaluate the properties' viability for lithium production.

Positive

• Full ownership of 30 mining claims gives JSHG potential leverage in the growing lithium market.
• Strategic location near Lithium One property may enhance operational synergies.
• Acquisition adds approximately 1200 acres of mineral resources.
• Analysts anticipate increased demand for lithium due to electric vehicle production.

Negative

• None.

Following its recent ownership stake in the nearby Lithium One property, JSHG has acquired 100% control of 30 intriguing cells on a property it has named Lithium Two, located near Timmins, Ontario, Canada

WOODSTOCK, ONTARIO, Jan. 18, 2023 (GLOBE NEWSWIRE) -- In new lithium-related news, Joshua Gold Resources Inc. (OTC Pink: JSHG) has acquired full ownership of a series of 30 mining claims south of Timmins, Ontario, Canada, comprising approximately 1200 acres of potential mineral resources. The company has named it Lithium Two, partly for its proximity to its Lithium One property, in which the company holds a 50% ownership stake.

The claims, located in Northrup and Robin Townships, sit atop what is known to be a granite-rich area. This is important because lithium minerals (particularly Spodumene) occur in granite pegmatites. According to JSHG’s Chief Geologist Fred Sharpley (QP) the 30 contiguous claims are “underlain by granite, which requires prospecting and sampling for lithium.”

Lithium Two sits in the area of Gogama, Ontario, and shares a similar type of terrain where pegmatite outcrops containing spodumene have been identified on other potential lithium properties.

Gogama itself continues to be a hotbed of activity and has experienced a recent staking rush following findings of spodumene, a lithium-bearing mineral derived from pegmatite.

Much of the activity in Gogama is due to the increasing demand for lithium, which is a critical component in electric car batteries. Meeting the world’s lithium requirements means utilizing multiple sourcing methods, like deriving spodumene from pegmatite rock. Like Lithium One, this makes JSHG’s new property potentially very important to the lithium industry.

Joshua Gold Resources CEO Ben Fuschino commented, "Our teams continue to do very important work as the world recognizes the need to shift to more renewable energies. We look forward to conducting sampling on our Lithium One and Lithium Two properties in the near future, in hopes of enabling their development as sources of this valuable mineral.”

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.

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 of Bull In Advantage, LLC
Phone: (585) 703-6565
Email: investors@joshuagoldresources.com

Attachments

• ‘Lithium Two’ is the Latest Property Acquisition by Joshua Gold Resources
• ‘Lithium Two’ is the Latest Property Acquisition by Joshua Gold Resources

FAQ

What is the significance of JSHG's acquisition of Lithium Two?

The acquisition of Lithium Two enhances JSHG's portfolio by adding 30 mining claims, strategically located near existing assets, and positions the company to capitalize on the increasing demand for lithium.

How many acres does the Lithium Two property encompass?

The Lithium Two property encompasses approximately 1200 acres of potential mineral resources.

Where is the Lithium Two property located?

Lithium Two is located in Northrup and Robin Townships, south of Timmins, Ontario, Canada.

What minerals are expected to be found at Lithium Two?

Lithium Two is expected to contain spodumene, a lithium-bearing mineral commonly found in granite pegmatites.

When does JSHG plan to start sampling at Lithium Two?

JSHG has indicated plans to conduct sampling on both Lithium One and Lithium Two properties in the near future.