Lithium Corp - LTUM STOCK NEWS

Lithium Corporation (OTCQB:LTUM) has appointed Brian Goss as Vice President of Business Development. Goss, who previously served as the Company’s President from 2015 to 2017, brings over 19 years of experience in the mining industry. He is the founder of Rangefront Mining Services and has board roles in several mining companies. This leadership change is expected to enhance the company's strategic direction in the growing energy storage sector, reinforced by its long-standing alliance with Morella Corporation.

Lithium Corporation (OTCQB:LTUM) announced a formal agreement with Morella Corporation for the exploration and development of the North Big Smoky lithium-in-brine prospect in Nye County, Nevada. Morella can earn a 60% interest by investing at least $1,000,000 over four years. The funding schedule includes $100,000 in Year 1, increasing to $400,000 in Year 4. Morella also has options to purchase additional interests and a 2.5% Net Smelter Royalty will apply upon full acquisition. The agreement enhances LTUM's position in the energy storage sector.

Lithium Corporation (OTCQB:LTUM) has announced progress in its ongoing exploration efforts in the energy metals sector. The contracted geophysical team completed Phase II of a magnetotelluric survey at Fish Lake Valley, with results pending interpretation. The company is utilizing a Laser Induced Breakdown Spectrometer for instant lithium analysis, enhancing exploration flexibility. Additionally, work has resumed on the Yeehaw Titanium/Rare Earth project in British Columbia, aimed at confirming the presence of mineralized dykes. Morella Corporation remains a key strategic partner.

Lithium Corporation (OTCQB:LTUM) announced the initiation of Direct Lithium Extraction (DLE) process development work by Morella Corp. on brine from its Fish Lake Valley lithium prospect in Nevada. This project aims to assess lithium extraction using Recion Technologies' methods, with an encouraging initial recovery rate of up to 96%. Completion of the benchtop study is expected in 10-12 weeks, followed by field tests and a pilot plant stage to enhance lithium production capabilities.

Lithium Corporation (OTCQB:LTUM) has staked approximately 3,400 acres in Nevada and signed a Letter of Intent (LOI) with Morella Corporation for an earn-in agreement on the property. Morella can earn a 60% interest by paying $50,000 upon signing and issuing $100,000 in shares annually for four years, alongside increasing exploration expenditures totaling $1.1 million. Should Morella acquire a 100% interest, Lithium Corporation would receive a 2.5% Net Smelter Royalty. The Company, focused on energy storage resources, maintains strong ties with Morella, its largest shareholder.

Lithium Corporation (LTUM) continues to expand its Fish Lake Valley claim block, now approximately 11,020 acres, enhancing its exploration for lithium-rich brine deposits. A recent magnetotelluric survey identified three new drill targets in the southern section, suggesting significant brine mineralization potential. Morella Corporation, the project's optionee, plans to initiate drilling in the second half of 2022. This strategic advancement may bolster the company's position in the energy storage market.

Lithium Corporation (OTCQB:LTUM) clarified that it has received no interest from Tesla amid circulating rumors. The company emphasized that no employees have transitioned to Tesla, and they are open to communication but have no current relationship. Lithium Corporation focuses on energy metal exploration in North America and maintains a strategic alliance with Morella Corporation. Recently, a formal agreement was established regarding an earn-in on the Fish Lake Valley lithium prospect in Nevada.

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.