Megawatt acquires additional Lithium Prospective Claims

Rhea-AI Summary

Megawatt Lithium and Battery Metals Corp. (OTC PINK: WALRF) has staked 229 new mineral exploration claims in the James Bay area of Quebec, covering 12,116 hectares. This acquisition complements the existing Route 381 Lithium project, allowing the company to explore two distinct zones in the region. The new claims are accessible via a powerline corridor, reducing helicopter reliance for exploration. CEO David Thornley-Hall expressed optimism about the new claims' potential, indicating significant opportunities for exploration in this promising area.

Positive

• Acquisition of 229 new mineral exploration claims expands exploration opportunities.
• The new claims cover 12,116 hectares, complementing existing projects.
• Access via powerline corridor reduces exploration costs and logistics.

Negative

• None.

VANCOUVER, BC, Jan. 20, 2022 /PRNewswire/ - January 20, 2022) - Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FSE:  WR20) (OTC PINK: WALRF) (the "Company" or "Megawatt") announces that it has staked, by way of agent, 229 additional mineral exploration claims ("the new claims") in the James Bay area of Quebec.  The new claims cover an area of 12,116 hectares or 121 square kms and are complementary to the Company's existing Route 381 Lithium project in the James Bay area.  This allows for exploration efforts to proceed at two distinct projects in this prospective region.

The new claims are accessible by way of a powerline infrastructure corridor mitigating the requirement for helicopter access only exploration activities.

David Thornley-Hall, CEO of Megawatt commented, "We are pleased to have acquired this substantial claims block in the James Bay area giving us the opportunity to explore two highly prospective zones in the region."

About MegaWatt Lithium and Battery Metals Corp.

MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral properties in Canada. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base, rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada.

Additionally, the Company has acquired a 60% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in two prospective silver-zinc projects in Australia, being the Tyr Silver Project and the Century South Silver-Zinc Project (see press release dated August 13, 2020) an indirect 100% interest (subject to a 1% NSR) in mining tenements in Northern Territory and New South Wales, Australia prospective for nickel-cobalt-scandium and rare earths and a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province of Quebec, covering 2,126 hectares (see press release dated February 3, 2021).

Investors can learn more about the Company and team at https://megawattmetals.com.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the trading of the Company's common shares on the Exchange and the Company's use of proceeds and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward- looking statements. Such forward-looking statements represent management's best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release.

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SOURCE MegaWatt Lithium and Battery Metals Corp.

FAQ

What did Megawatt Lithium and Battery Metals Corp announce on January 20, 2022?

On January 20, 2022, Megawatt Lithium and Battery Metals Corp announced the staking of 229 additional mineral exploration claims in Quebec's James Bay area.

How many hectares do the new claims in Quebec cover?

The new claims cover an area of 12,116 hectares.

What impact do the new claims have on Megawatt's existing projects?

The new claims complement the existing Route 381 Lithium project, allowing for exploration at two distinct locations.

How accessible are the new claims for exploration?

The new claims are accessible via a powerline infrastructure corridor, mitigating the need for helicopter access.

What is the stock symbol for Megawatt Lithium and Battery Metals Corp?

The stock symbol for Megawatt Lithium and Battery Metals Corp is WALRF.