SPOD Lithium Found Zinnwaldite, Extensions on Corvette Trend, and Updates on Corporate Strategy

Rhea-AI Summary

SPOD Lithium Corp (CSE: SPOD) (OTCQB: SPODF) has announced results from its winter drilling program on the MegaLi and Lithium Grande 4 (LG4) projects in Quebec's James Bay area. The program, completed in December 2024, covered 2,601.5 meters across 12 holes.

Key findings include:

• Discovery of zinnwaldite-like mica crystals with lithium values ranging from 1% to 4%
• Identification of strong lithium-bearing anomalies adjacent to Patriot Battery Metals' Shaakichiuwaanaan project
• Block C results showed impressive shallow dipping stacking of LCT pegmatites
• Block D demonstrated strong lithium contamination in pegmatites and host rocks
• Block A revealed high cesium anomaly with niobium up to 2150 ppm and tantalum up to 826 ppm

The company is considering diversifying its portfolio to include other Critical and Strategic Minerals (CSMs), citing current lithium market conditions and government incentives.

Positive

• Discovery of high-grade lithium (1-4%) in zinnwaldite-like mica crystals
• Successful identification of strong lithium-bearing anomalies across multiple blocks
• High-value mineral findings including niobium (2150 ppm) and tantalum (826 ppm)
• Strategic location adjacent to Patriot Battery Metals' Shaakichiuwaanaan project

Negative

• Management uncertainty about creating sufficient value under current lithium market conditions
• Need to diversify away from pure lithium focus due to market challenges

• First-ever drilling program on MegaLi and LG4 blocks successful in identifying strong lithium-bearing anomalies

• Identification of zinnwaldite-like mica type, a superior lithium host compared to spodumene, with measured values ranging from 1 to 4% Li
  
  
• The Company explores the possibility of diversifying its project portfolio by targeting other Critical and Strategic Minerals (CSMs) that are a priority for the Canadian and Québec governments

Vancouver, British Columbia--(Newsfile Corp. - April 25, 2025) - SPOD LITHIUM CORP. (CSE: SPOD) (OTCQB: SPODF), (the "Company" or "SPOD") announces the results from its winter drilling program on the MegaLi and Lithium Grande 4 ("LG4") projects. The MegaLi and LG4 properties consist of six claim blocks adjacent to Patriot Battery Metals Inc.'s Shaakichiuwaanaan project (formerly named Corvette Project) located in the James Bay area of Quebec, Canada.

Mathieu Couillard, President and CEO of SPOD Lithium, said: "This first drilling program on MegaLi and LG4 was a true success, confirming strong potential for the discovery of an additional lithium (Li) deposit. Adjacent to Patriot Battery Metals Inc.'s Shaakichiuwaanaan project, we now understand that the size of the magmatic reservoir that generated the lithium-bearing pegmatites is regional in scale. The volume of the pegmatite system and its enrichment in lithium both indicate the fertility of the magmatic system and that we are at the right place for a potential discovery. The niobium/tantalum (Nb/Ta) ratios and the high fractionation of the rubidium (Rb) indicate a similar lithium-cesium-tantalum (LCT) signature as our neighbours and our goals remains to identify the location of the next spodumene-bearing pegmatite."

Winter Drilling Program

In December 2024, the ExploLogic team carried out on behalf of SPOD, an initial drilling program on the MegaLi and LG4 properties, consisting of 2,601.5 m in 12 holes. The drilling program targeted Block "A" and Block "D" on the LG4 property and Block "C" on the MegaLi property, all selected to follow up on two successful soil and rock sampling field programs which identified pegmatite trends in 2024 and zoned internal structures and accessory minerals such as beryl and tourmaline. Table 1 summarizes the drill hole results and Figure 1 positions them.

Block C (MegaLi property) results:

Geological units intercepted within the three drill holes (MEG-24-01 to 03 - totaling 750.5 m) of this block show an impressive shallow dipping stacking of LCT pegmatites and gabbros intersected over true width between 100 m and 300 m. Drill hole MEG-24-02 shows that the sequence continues at depth, under vertical depth of 300 m with Rb-enriched pegmatites.

Figure 1: Regional geology with SPOD MegaLi and LG4 projects and Patriot Battery Metals Inc.’s Shaakichiuwaanaan environment. SPOD 2024 drilling program targeted the Corvette Lithium Trend as well as other similar environments. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7939/249763_4dee8da7743c0be2_002full.jpg

Zinnwaldite-like mica crystals have been identified during the logging process and a portable LIBS analyzer (Laser Induced Breakdown Spectroscopy) was used to confirm the presence of lithium. Values measured over the zinnwaldite crystals using the LIBS analyzer ranged between 1% and 4% Li in all MEG-24-01, 02, and 03. These analyses were concentrated directly on mica crystals and therefore do not represent wholerock.

During the summer 2024 surface mapping and soil sampling, zinnwaldite was also recognized in the same area. Zinnwaldite is a superior lithium host to the well-known spodumene. It is a potassium-lithium-iron-aluminum-silicate-hydroxide-fluoride phyllosilicate mineral within the mica group that typically occurs in greisens, pegmatites and quartz veins, and is often associated with tin ore deposits.

High anomaly cesium, rubidium and tantalum results also demonstrated the strong similarities with the lithium-bearing signature of a "Corvette Type" pegmatite identified in the scientific literature as LCT pegmatite. SPOD cautions that the mineralization at the Shaakichiuwaanaan project may not be indicative of the mineralization that may be identified on the Company's MegaLi and LG4 projects and is used as a conceptual exploration model only.

Block D results:

Analytical results from the samples of the seven drill holes (LG4-24-01 to 07 - totaling 1,115 m) targeting the Corvette trend (see Figure 1), demonstrated strong lithium contamination both in pegmatites and in host rocks. These findings support the interpretation that the source of the lithium is associated with a large-scale magmatic system that covers not only one limited area like a single deposit, but a large volume.

Block A results:

Numerous granodiorites dykes have been intercepted within the five drill holes (LG4-24-08 to 12, totaling 706 m) of this easterly area. Results have shown the higher cesium anomaly associated with niobium anomaly up to 2150 ppm Nb and a Tantalum anomaly up to 826 ppm Ta within LG4-24-12 from 101.5 m to 102.5 m. This unexpected NYF pegmatite environment enriched in fluor, niobium, tantalum elements and locally in molybdenum show an attractive potential in other SCMs which have never been tested before.

Preliminary interpretations

Due to recent soil sampling anomalies, the mapping and the assay results of the maiden drilling program on the MegaLi and LG4 properties, it is management's understanding that the lithium-bearing pegmatites found on the property are of similar chemical signature as the Corvette deposit and that the magmatic system that formed the Corvette deposit is of sufficient size to have impacted the host rocks at a regional scale.

Table 1: Summary of SPOD 2024 drill program on MegaLi and LG4 projects

Hole number	Project	Block	Eastern	Northern	Az.	Dip	Length (m)	Geological environment	Results
LG4-24-01	LG4	D	584 577	5 934 984	180°	-45°	179.0	Mafic sequence of the Guyer Group: Sheared amph./paragneiss contact	No LCT element conc.
LG4-24-02	LG4	D	584 556	5 934 885	180°	-45°	155.0
LG4-24-03	LG4	D	584 630	5 934 808	240°	-45°	137.0
LG4-24-04	LG4	D	584 634	5 934 813	90°	-45°	30.0
LG4-24-04A	LG4	D	584 634	5 934 813	90°	-45°	125.0
LG4-24-05	LG4	D	584 609	5 934 692	140°	-45°	215.0
LG4-24-06	LG4	D	584 945	5 934 475	320°	-60°	143.0	Alternation of peg.-amph.-basalt-paragneiss. Pegs. vary from 1 to 5m at contacts.	Cs: 100 to 150ppm concentrated within a 5m wide peg. at surface. Li: 90 to 150ppm within the amph. over 13 and 4m.
LG4-24-07	LG4	D	584 945	5 934 475	320°	-45°	161.0
LG4-24-08	LG4	A	577 096	5 940 600	330°	-45°	125.0	Basalt. Eastern limit. Rare peg. veins with Cs anomaly	No LCT element conc.
LG4-24-09	LG4	A	577 096	5 940 600	200°	-55°	116.0	Basalt. Eastern limit	No LCT element conc.
LG4-24-10	LG4	A	575 355	5 939 740	330°	-45°	137.0	Metric granitic pegs. As 9m btw 111.6m to 120.7m	Li anomalies btw 50 to 150ppm
LG4-24-11	LG4	A	575 355	5 939 740	200°	-55°	152.0	44m of granitic peg. (48 to 92m) within granodiorite	Li anomalies btw 50 to 150ppm even with amph. Host rock
LG4-24-12	LG4	A	575 355	5 939 740	30°	-60°	176.0	Dense network of granitic peg. Within granodiorite	No LCT element conc.
MEG-24-01	MegaLi	C	578 065	5 929 955	160°	-65°	170.0	200m of hybrid peg. (granitic and LCT). Alternation of peg. and gabbro	145m (8,9m-155m) of peg. and gabbro alternation with K/Rb ratios btw 15 and 40 and with Li-enrichment of 100 to 500 ppm
MEG-24-02	MegaLi	C	578 397	5 930 037	160°	-65°	395.0		280m (8m-287m) of peg. and gabbro alternation with K/Rb ratios btw 15 and 40 and with Li-enrichment of 100 to 500 ppm
MEG-24-03	MegaLi	C	578 368	5 929 599	160°	-65°	185.5		130m (8,9m-137m) of peg. and gabbro alternation with K/Rb ratios btw 15 and 40 and with Li-enrichment of 100 to 500 ppm
					TOTAL		2,601.5

Note: peg.: pegmatite; amph.: amphibolite; conc.: concentration; btw: between.

Recent studies on the impact of geological structures on the formation of pegmatites (i.e. SILVA, D. et al., 2023, or CAWOOD, T.K. et al., 2024), demonstrating their significant impact on the formation of pegmatites, also allow SPOD management to be very encouraged by the initial drilling results on these properties as structural setting and emplacement mechanism on the size and morphology of lithium-bearing pegmatites on the properties needs now to be seriously studied.

Mr. Couillard President and CEO of SPOD Lithium, said: "We are pleased with the results of our projects, but we are uncertain whether we can create sufficient value under current lithium market conditions. With the support of our Board of Directors, we are exploring the possibility of diversifying our project portfolio by targeting CSMs that are a priority for the Canadian and Québec governments. There are numerous tax incentives for developing these CSMs, and we intend to ensure all our shareholders benefit from them".

Drilling sampling method and QA/QC

Diamond drilling was done by Forage Fusion Drilling of Hawkesbury, Ontario. All the NQ-size core was recovered by the drillers, quick logged by an ExploLogic geologist onsite to ensure the follow up of the targeted zones and then, all core was sent to ExploLogic installations in Val-d'Or for proper logging and sampling by geologists. Samples generally vary from 0.5 m to 1.5 m depending on the geological environment. Sample preparation is then done by ExploLogic, where the drill core is sawed in half, with one half used for chemical analysis and the other half for control purposes and project record.

All 1,268 samples collected during the core logging process are sent to the Agat Laboratory in Val-d'Or, Quebec, for analysis. Each sample is dried and crushed to 75% passing -2mm (10 mesh) and 250g are taken to be pulverized to 85% passing 75 microns (200 mesh). The sample is then treated by four-acid digestion (Code: 201-070) and analyzed by ICP-OES and by ICP-MS (Code: CGY) for a total of 48 elements, including metals and rare earth elements. A total of 306 analyses have also been requested for gold analysis (TMT-G5B method) and performed by fire assay on 50 g samples with an atomic absorption finish.

Quality assurance/quality control (QA/QC) includes the use of duplicates representing one quarter (1/4) of the drill core, blank samples and material certified for Au, Ag and Cu. QA/QC additions to the sample stream total an additional 10% of samples analysed.

Qualified Person

Julien Davy, P.Geo., M.Sc, MBA, consultant geologist of SPOD, and Martin Demers, P.Geo, independent senior geologist, are qualified persons under National Instrument 43-101 on standards of disclosure for mineral projects, and have prepared, supervised and approved the technical information in this news release.

About Spod Lithium Corp.

Spod Lithium Corp. is a leading exploration and development company focused on unlocking the vast potential of lithium resources. With a strategic approach to resource management and a commitment to sustainable practices, SPOD is dedicated to driving innovation and delivering value for its stakeholders. Founded in 2020, its primary lithium properties are strategically located in Quebec and Ontario, Canada, regions renowned for their rich deposits of these valuable resources. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company through its website at www.spodlithiumcorp.com.

On Behalf of the Board of Directors

Mathieu Couillard
President, CEO & Director
+1 (647) 567-6757
mathieu.couillard@SPODlithiumcorp.com

Stay connected with SPOD

Website: www.spodlithiumcorp.com
Linkedin: www.linkedin.com/company/spod-lithium
X (formerly Twitter): www.x.com/spodlithium

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The CSE has not reviewed, approved or disapproved the contents of this news release.

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FAQ

What lithium concentrations were found in SPODF's winter drilling program?

The drilling program found zinnwaldite-like mica crystals with lithium values ranging from 1% to 4% Li in drill holes MEG-24-01, 02, and 03.

How many meters were drilled in SPODF's 2024 winter program?

The drilling program consisted of 2,601.5 meters across 12 holes on the MegaLi and LG4 properties.

What are the key findings from Block A of SPODF's LG4 property?

Block A revealed high cesium anomaly with significant niobium (up to 2150 ppm) and tantalum (up to 826 ppm) values, particularly in drill hole LG4-24-12.

What is SPODF's new strategic direction as announced in April 2025?

SPOD Lithium is exploring diversification into other Critical and Strategic Minerals (CSMs) that are priorities for Canadian and Québec governments, citing current lithium market conditions.