Lithium Corporation Increases Claim Holdings

Rhea-AI Summary

Lithium Corporation (OTCQB:LTUM) announced a significant expansion of its BC Sugar flake graphite claim block in British Columbia, increasing it to approximately 1321 acres. With a predicted 35% rise in demand for flake graphite from the EV battery sector in 2022, the company looks to recommence work on this prospect in late Spring 2022. Previous exploration revealed promising mineralization, with grades of 2.73% graphitic carbon. The resurgence of the graphite market has prompted this strategic move after a previous contraction due to market weaknesses.

Positive

• Expanded BC Sugar flake graphite claim block to 1321 acres.
• Predicted 35% increase in demand for flake graphite from the EV battery sector in 2022.
• Previous exploration shows promising mineralization with average grades of 2.73% graphitic carbon.

Negative

• Past reduction of claim block size due to weakness in the graphite market.

ELKO, NV / ACCESSWIRE / March 15, 2022 / Lithium Corporation (OTCQB:LTUM) ("LTUM" or "the Company"), a North American corporation focused on energy metals for the growing energy storage sector and high-tech industries, wishes to inform shareholders it recently increased the size of its BC Sugar flake graphite claim block in British Columbia, and is planning to recommence work on this prospect late Spring 2022.

Graphite markets are more buoyant than the past several years with demand for flake graphite from the EV battery sector predicted to rise over 35% in 2022 (Source: Fastmarkets). Additionally, recent world events are driving home the need to ensure we have an ample, readily available supply of energy metals here in North America. The Company acquired the property in 2013 and performed geological and sampling work over the following field seasons, culminating in trenching programs at the "Weather Station" zone in 2015, and a point midway between that zone and the Taylor Creek area in 2018. Trenching at the Weather Station intercepted a broad zone of mineralization with a core area of almost 100 feet (~30 meters) where weathering was as deep as 8 meters subsurface, and average grades were 2.73% graphitic carbon. The 2018 program intercepted up to 2.62% graphitic carbon in one of the test pits. Due to weakness in the graphite market, Lithium Corporation reduced the size of its claim block and has not conducted any further work on this property. The graphite market has since roared back to life, so the Company increased its holdings in the Weather Station/Taylor Creek area to approximately 1321 acres (534.66 ha's), and to 1626 acres (657.95 ha's) further east at the Sugarland showing. The Company is currently in the planning stages with respect to the work to be done on these prospects this summer.

About Lithium Corporation

Lithium Corporation is an exploration company based in Nevada devoted to the exploration for energy storage related resources throughout North America, and looking to capitalize on opportunities within the ever-expanding next generation energy storage markets. The Company has maintained a strategic alliance with Morella Corporation (the Company's single largest shareholder) for the past nine years, and has recently entered into a formal agreement with Morella with respect to an earn-in on the Company's Fish Lake Valley lithium-in-brine prospect in Esmeralda County, Nevada.

Website: www.lithiumcorporation.com.

Contact Info
Tom Lewis, CEO
Lithium Corporation
775-410-5287
info@lithiumcorporation.com

Notice Regarding Forward-Looking Statements

This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Lithium Corporation (OTC-LTUM) 1031 Railroad St. Ste 102B Elko NV 89801 (775) 410-5287 www.lithiumcorporation.com

SOURCE: Lithium Corp.

View source version on accesswire.com:
https://www.accesswire.com/693003/Lithium-Corporation-Increases-Claim-Holdings

FAQ

What recent actions has Lithium Corporation (LTUM) taken regarding its graphite claims?

Lithium Corporation announced an expansion of its BC Sugar flake graphite claim block, increasing its size to approximately 1321 acres.

How much is the demand for flake graphite in 2022 expected to rise?

The demand for flake graphite from the EV battery sector is predicted to rise by over 35% in 2022.

What historical findings did Lithium Corporation have in its graphite claims?

Previous exploration at the Weather Station zone revealed grades of 2.73% graphitic carbon over a core area of nearly 100 feet.

Why did Lithium Corporation reduce its claim block size in the past?

The company reduced its claim block size due to weakness in the graphite market.

When does Lithium Corporation plan to resume work on its graphite prospects?

The company plans to recommence work on its graphite prospects in late Spring 2022.