Lodestar Announces Completion of Recent Sampling Program at Flagship Peny Project

Rhea-AI Summary

Lodestar Battery Metals announces initial results from a prospecting and rock chip sampling program at its 100% owned Peny Property. A total of 395 samples were collected during the 2-week field program, with numerous pegmatite bodies identified. Preliminary XRF Results were used to vector potentially lithium-bearing mineralized pegmatite bodies. Laboratory assays are pending from the sampling program. The company is focused on becoming a leading critical metals exploration company.

• A total of 395 samples were collected during the 2-week field program.
• Numerous pegmatite bodies were identified.
• Preliminary XRF Results used to vector potentially lithium-bearing mineralized pegmatite bodies.
• Laboratory assays are pending from the sampling program.

Vancouver, British Columbia--(Newsfile Corp. - September 26, 2023) - Lodestar Battery Metals (TSXV: LSTR) (OTCQB: SVTNF) ("Lodestar" or the "Company"), focused on becoming a leading critical metals exploration company, is pleased to announce initial results from a prospecting and rock chip sampling program at its 100% owned Peny Property ("Peny" or the "Property").

2023 Summer Work Program Summary

Lodestar has completed an extensive rock chip sampling program on the Property, with team efforts leading to the collection of 395 samples (402 including QAQC) across the Property. After ground truthing, targets generated from the spectral and geophysical analysis confirm extensive pegmatite occurrences throughout the property not previously reported (Figure 1). More information pertaining to Lodestar's 2023 exploration initiatives can be found in the prior August 21, 2023, and September 11, 2023 news releases here and here.

Portable XRF ("pXRF") analysis was utilized in conjunction with the field program to provide initial potassium/rubidium (K/Rb) ratios, which is a proxy pathfinder method in vectoring for lithium mineralized pegmatite dykes on the Property. This was a useful tool in vectoring and follow-up work while still in the field. The samples are to be submitted to SGS for laboratory analysis and will be announced as soon as received by Lodestar.

"We are thrilled with our preliminary sampling results on our Peny Project," said Lowell Kamin, Lodestar's CEO, President and Chairman of the Board. "The number of samples collected not only demonstrates our team's hard work and dedication but also puts us in a strong position to continue our lithium exploration and development efforts. Our team is eagerly awaiting the assays from this initial program and is looking forward to carrying out the next phase of our exploration program on our 100% owned Peny Project."

Figure 1: Rock Sampling Locations from Peny Sampling Program.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3029/181837_8f248d41744e4810_002full.jpg

Lodestar to Provide Corporate Update with Upcoming Webinar

The Company would also like to remind interested participants that tomorrow September 27, 2023, CEO, President and Chairman of the Board, Lowell Kamin, will be providing a corporate update through a webinar hosted by Existing Media (the "Webinar").

During the Webinar, Mr. Kamin will discuss the successes of the recent work program as well as some upcoming milestones for the remainder of the fiscal year. Those interested are encouraged to register at the link below:

Date: Wednesday, September 27, 2023

Time: 11 AM PT / 2 PM ET

Registration Link: https://streamyard.com/watch/SJT94xAsbQip

Qualified Persons

Luke van der Meer (P.Geo.) is the Vice-President Exploration of the Company and is a Qualified Person ("QP") as defined by National Instrument 43-101 guidelines – Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed the technical information of this news release.

About Lodestar Battery Metals Corp.

Lodestar Battery Metals Corp. is a Canadian mining exploration company focused on the critical metals space. The Company's 100% owned flagship Peny Property comprises of 47 mineral claims totalling 11,191 hectares in the Snow Lake District, Manitoba, with access to tier-1 existing infrastructure: railway, roads, airstrip, and power. The Company also owns 100% interest in two significant silver assets in Mexico. The Company intends to build a strong portfolio of battery metals projects to drive future growth through exploration success and from later-stage projects with production potential. The Lodestar business plan calls for a dynamic combination of developing its existing properties, acquisitions, and partnerships to achieve this growth. For more information, visit https://lodestarbatterymetals.ca/.

Contacts

Lodestar Battery Metals Corp.
Lowell Kamin, President, CEO & Chairman of the Board
(416) 272-1241
lowell@lodestarbatterymetals.ca

Investor Relations
Alyssa Barry, IR Labs Inc.
1-(833)-947-5227
alyssa@irlabs.ca

Forward-Looking Statements

The information set forth in this news release contains forward-looking statements based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Lodestar cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by several material factors, many of which are beyond Lodestar's control. Such factors include, among other things, risks and uncertainties relating to Lodestar's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181837

FAQ

How many samples were collected during the field program at Peny Property?

A total of 395 samples were collected during the 2-week field program.

What method was used to vector potentially lithium-bearing mineralized pegmatite bodies?

Preliminary XRF Results were used to vector potentially lithium-bearing mineralized pegmatite bodies.

What type of analysis was utilized in conjunction with the field program to provide initial potassium/rubidium ratios?

Portable XRF (pXRF) analysis was utilized in conjunction with the field program to provide initial potassium/rubidium (K/Rb) ratios.

Who is the CEO, President, and Chairman of the Board of Lodestar Battery Metals?

Lowell Kamin is the CEO, President, and Chairman of the Board of Lodestar Battery Metals.

When will Lodestar Battery Metals provide a corporate update through a webinar?

Lodestar Battery Metals will provide a corporate update through a webinar on Wednesday, September 27, 2023.