Nova Lithium Appoints Mining Veteran Dal Brynelsen to Board of Directors

Rhea-AI Summary

Nova Lithium has appointed Dal Brynelsen to its Board of Directors. Brynelsen, with over 40 years of experience in the mining sector, has a notable history of discovering and operating underground gold mines. His background includes leadership roles at Vangold Resources and Vanoil Resources, as well as founding Griffin Mining , an AIM-listed company. Brynelsen is expected to bring significant expertise to Nova Lithium as it advances its Lara VMS deposit. Additionally, the company has granted 750,000 stock options to directors and officers at $0.16 per share, exercisable for five years.

Positive

• Appointment of Dal Brynelsen to the Board, bringing over 40 years of industry experience.
• Brynelsen's successful track record in discovering and developing underground gold mines.
• Grant of 750,000 incentive stock options to directors and officers, potentially aligning management's interests with shareholders.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - June 26, 2024) - Nova Lithium Corp. (CSE: NVLI) (OTC Pink: NVLIF) (FSE: YQ1) (WKN: A3DMP6) ("Nova" or the "Company") is pleased to announce the appointment of Mr. Dal Brynelsen, a distinguished figure in the mining industry, to the Company's Board of Directors.

Mr. Brynelsen, a UBC Economics graduate of 1973, brings over 40 years of experience in the resource industry, with a track record of discovering, developing and operating several underground gold mines. From 1970 to 1985, he made his mark as a successful property developer.

He has held leadership roles as President of Vangold Resources and Vanoil Resources, where he developed gas fields in California and heavy oil fields in Alberta. His global footprint includes the discovery and development of two underground gold mines in Rossland, BC, and leading major exploration projects in Uganda, Kenya, Rwanda, Armenia, Papua New Guinea and China.

Mr. Brynelsen is a Founding Director of Griffin Mining Limited (AIM: GFM) , an AIM-listed mining company on the London Stock Exchange. He continues to serve as a director of Hebei Hua Ao Mining Company, the operating arm of the Cainiaying Mine, one of the largest zinc/lead/gold mines in China, employing 1,500 contractors and employees and mining 1.5 million tonnes per year.

Hailing from one of Canada's pioneer mining families associated with Noranda, Bell Mine, Kennedy Lake, Brynor Mines, Cassino Silver and Brenda Mines, Mr. Brynelsen brings extensive experience within Canada's mineral exploration landscape to the Company.

Malcolm Bell, Nova's CEO, expressed his excitement, "We are thrilled to welcome Dal to our Board of Directors. His vast experience and knowledge of the mining industry will be invaluable to us as we work to advance the mineral-rich Lara VMS deposit."

In connection with Mr. Brynelsen's appointment, the Company granted an aggregate of 750,000 incentive stock options to certain directors and officers, each of which vests immediately, is exercisable into one common share of the Company at a price of $0.16 per share for a period of five years, and is governed by the terms of Nova's stock option plan.

About Nova Lithium Corp.

Nova Lithium Corp. is a Canadian exploration company focused on pursuing projects with a significant discovery and a viable pathway to potential development. The Company intends to focus its near-term efforts on the Lara Project on Vancouver Island and the expansion of known high-grade zones within the already defined mineralized structures.

Additionally, Nova currently owns a 100% interest in 190 mineral claims located in Clayton Valley, Nevada.

For more information, visit www.novalithiumcorp.com.

For further information, please contact:

J. Malcolm Bell, CEO
T: 778.868.2226
E: info@novalithiumcorp.com

Forward-Looking Statements

This news release may contain "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include, but is not limited to, statements with respect to the future price of metals, historical estimates of mineralization, capital expenditures, the success of exploration activities, permitting timelines, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage, the completion of regulatory approvals, and risks arising from the novel coronavirus. In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

Any forward-looking information in this news release is based on a number of material factors and assumptions, including, but not limited to, those disclosed in Nova's public filings. While the Company considers these factors and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons. Forward-looking information is based upon management's beliefs, estimates and opinions on the date the statements are made and, other than as required by law, the Company does not intend, and undertakes no obligation, to update any forward-looking information to reflect, among other things, new information or future events.

The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214391

FAQ

Who has Nova Lithium appointed to its Board of Directors?

Nova Lithium has appointed Dal Brynelsen to its Board of Directors.

What is the experience of Dal Brynelsen, the new board member at Nova Lithium?

Dal Brynelsen has over 40 years of experience in the mining industry, including discovering and operating underground gold mines and leadership roles at Vangold Resources and Vanoil Resources.

What impact could Dal Brynelsen's appointment have on Nova Lithium (NVLIF)?

Brynelsen's appointment is expected to bring valuable mining expertise and leadership to Nova Lithium, aiding in the advancement of their Lara VMS deposit.

What are the terms of the stock options granted by Nova Lithium?

Nova Lithium granted 750,000 stock options to directors and officers, exercisable into one common share at $0.16 per share for a period of five years.