Newpath Resources Receives $200,000 Grant from Ontario Junior Exploration Program to Advance Alpha/Bravo

Rhea-AI Summary

Newpath Resources Inc. has been selected to receive a $200,000 Ontario Junior Exploration Program grant to support its exploration efforts on its Alpha/Bravo Project. The grant aims to facilitate the exploration of critical minerals within Ontario, covering 50% of eligible exploration costs. The CEO acknowledges the government's support, highlighting the significance of the grant funding for advancing the exploration of the Project.

Vancouver, British Columbia--(Newsfile Corp. - February 1, 2024) - Newpath Resources Inc. (CSE: PATH) (FSE: 0MZ) (OTC Pink: RDYFF) ("Newpath" or the "Company") is pleased to announce that it has been selected to receive a $200,000 Ontario Junior Exploration Program ("OJEP") grant from the Government of Ontario to support its exploration efforts on its Alpha/Bravo Project (the "Project").

The project was selected for the grant under OJEP's critical mineral stream, which is aimed at facilitating the exploration of critical minerals within Ontario. Pursuant to the OJEP grant, Newpath can receive up to $200,000 to cover 50% of certain eligible exploration costs on the Project.

"Ontario's competitive advantage to be a leading global supplier of critical minerals lies in our commitment to investing in exploration," said George Pirie, Minister of Mines. "Through our government's Ontario Junior Exploration Program (OJEP), this $200,000 investment in Newpath Resources Inc.'s Alpha/Bravo project will help facilitate the exploration of critical minerals, like lithium, which are needed for the made-in-Ontario supply chain that will change our world, fuel the future, and reshape our economy."

Alexander McAualy, Newpath's CEO states, "Newpath would like to acknowledge the Government of Ontario for its financial support which has allowed the Company to conduct exploration in areas of the province prospective for lithium-cesium-tantalum ("LTC") pegmatite deposits. The receipt of the grant funding represents a meaningful milestone, underscoring the government's support towards advancing the exploration of Newpath's Alpha/Bravo Project."

Qualified Person

The technical content of this news release has been reviewed and approved by Douglas S. Turnbull, P.Geo., the Company's COO and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Newpath Resources Inc.

Newpath is a Canadian exploration company listed on the Canadian Securities Exchange under the symbol PATH. Newpath's early-stage Orefield critical metal exploration project, which is composed of three claim groups (Alpha/Bravo, Charlie and Delta), totals 3,180 claim units covering approximately 67,448 hectares (approximately 674 square kilometres) west and southwest of Lake Nipigon in Northern Ontario. The company also wholly owns the Northshore gold project located in the Schreiber-Hemlo greenstone belt.

On Behalf of the Company,

NEWPATH RESOURCES INC.

"Alexander McAulay"
Chief Executive Officer
Email: amcaulay@newpathresource.com
CEO Direct Line: +1 (604) 365-0425

The Company confirms that any view expressed in this news release are the views of the Company and do not necessarily reflect those of the Province of Ontario.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release may contain certain "forward-looking information". Forward-looking information included in this news release includes, but is not limited to, statements with respect to receipt of the OJEP grant and the amount of funding to be received. Forward-looking information is based upon the assumptions and estimates considered reasonable by management of the Company as of the date such statements are made. Forward-looking information involves known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. As a result, readers are cautioned not to place undue reliance on any forward-looking information. Any statement containing forward looking information speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196449

FAQ

What grant has Newpath Resources Inc. received?

Newpath Resources Inc. has been selected to receive a $200,000 Ontario Junior Exploration Program grant to support its exploration efforts on its Alpha/Bravo Project.

What type of minerals is the grant aimed at facilitating the exploration of?

The grant is aimed at facilitating the exploration of critical minerals within Ontario, specifically lithium-cesium-tantalum (LTC) pegmatite deposits.

Who is the CEO of Newpath Resources Inc.?

Alexander McAualy is the CEO of Newpath Resources Inc.

What percentage of eligible exploration costs does the grant cover?

The grant covers 50% of certain eligible exploration costs on the Project.