Stake in ‘Lithium One’ Property Taken by Joshua Gold Resources

Rhea-AI Summary

Joshua Gold Resources has acquired a 50% stake in 40 mining claims totaling approximately 1600 acres in Northern Ontario, named ‘Lithium One’. Located in the Gogama Lithium Camp, the claims cover key areas known for spodumene outcrops, essential for lithium extraction. This acquisition aligns with the growing demand for lithium, particularly in electric car batteries. The company plans to provide updates on its adjacent properties, including the Seymour Extension and Champion Mine, enhancing its position in the lithium market.

Positive

• Acquisition of a 50% stake in 'Lithium One' enhances JSHG's lithium resource potential.
• Strategic positioning in the Gogama Lithium Camp, a hotspot for lithium mining.
• Alignment with increasing global demand for lithium for electric vehicle batteries.

Negative

• None.

Joshua Gold Resources has acquired a 50% stake in a series of 40 mining claims comprising approximately 1600 acres in Northern Ontario that it has named ‘Lithium One’. The property is situated in the Gogama Lithium Camp.

WOODSTOCK, ONTARIO, Nov. 30, 2022 (GLOBE NEWSWIRE) -- In lithium-related news, Joshua Gold Resources Inc. (OTC Pink: JSHG) is pleased to announce it has acquired a 50% stake in a series of 40 contiguous mining claims comprising approximately 1600 acres of potential mineral resources. The company has named the property Lithium One.

The recently staked claims cover a group of three prominent areas, which share a similar type of terrain where pegmatite outcrops containing spodumene have been identified on other potential lithium properties in the Gogama, Ontario area.

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

To meet the ever-increasing demand for things like electric car batteries, producing enough lithium means relying on multiple sourcing methods, like deriving spodumene from pegmatite rock. This makes JSHG’s new property potentially very important to the lithium industry.

Joshua Gold Resources CEO Ben Fuschino commented, "Thanks in part to our great geological team, we are fortunate to have acquired an important stake in Lithium One in the growing Gogama lithium camp. JSHG’s active exploration of lithium demonstrates our company’s excitement, and the opportunities we see in helping the world shift toward more renewable sources of energy.”

In related lithium news, JSHG will soon share an important update from its Seymour Extension property, following a recent ground sampling program conducted there. That property sits adjacent to Green Metal Technologies lithium property, a 9.9 million tonne deposit with lithium values of 1.04%.

Further, JSHG will be providing an update on another sampling program from the recently acquired Champion Mine in Haycock Township.

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

Attachment

• Stake in ‘Lithium One’ Property Taken by Joshua Gold Resources

FAQ

What is the significance of Joshua Gold Resources acquiring Lithium One?

The acquisition of Lithium One positions Joshua Gold Resources to tap into the growing lithium market, essential for electric vehicle batteries.

How large is the Lithium One property acquired by JSHG?

The Lithium One property encompasses approximately 1600 acres across 40 mining claims.

Where is the Lithium One property located?

The Lithium One property is located in the Gogama Lithium Camp in Northern Ontario.

What updates can investors expect from Joshua Gold Resources?

Investors can expect updates on the Seymour Extension property and the recently acquired Champion Mine following ground sampling programs.

What minerals are linked to the newly acquired Lithium One claims?

The claims are associated with spodumene, a lithium-bearing mineral critical for lithium production.