K9 Gold Stakes 1274 Ha, Adding to the JB Lithium Project, N. Quebec

Rhea-AI Summary

K9 Gold Corp. has acquired an additional 25 claims for its JB Lithium Project in northern Quebec, bringing the total project holdings to 6692 Ha in 130 claims. The newly acquired Lac Laribosière-Tilly property is located east of Radisson and is underlain by Archaean rocks similar to other lithium projects in the area. K9 has conducted surveys and plans to continue with soil sampling, prospecting, and mapping.

Vancouver, British Columbia--(Newsfile Corp. - June 14, 2023) - K9 Gold Corp. (TSXV: KNC) (FSE: 5GP) (OTCQB: WDFCF) ("K9" or the "Company") is pleased to announce that it has acquired an additional 25 claims (1274 ha) by direct staking as part of the Company's JB Lithium Project in the James Bay Region of northern Quebec. This will bring the total project holdings to 6692 Ha in 130 claims. An aggressive summer exploration is now planned and is fully funded.

The Lac Laribosière-Tilly (LL-T) property (the "Property") is located approximately 60 km due north of the previously announced Lac Joubert-Tilly (LJ-T) property on the JB Li Project. The LL-T property is located approximately 380 km east of Radisson, Quebec. Other projects in the area include Allkem's James Bay lithium project, which recently received federal approval for development, Patriot Battery Metals Corvette project located 50 km to the west and Winsome Resources Lithium Adina project located approximately 40 km to the west. The LL-T property is underlain by a package of Archaean rocks that is similar to the geological setting of the Corvette and Adina projects, and includes outcrops of Tilly pegmatites, a known host of lithium in the James Bay region.

K9 has recently completed a helicopter-borne magnetometer and VLF survey on the project. Results will be reported on completion of data interpretation. A LiDAR and photogrammetry survey is scheduled for the project in early June 2023, to be followed by an extensive program of soil sampling, prospecting and mapping. However this may be delayed as the Quebec Ministère des Ressources Naturelles et des Forêts has recently placed a ban on all field work due to the forest fire situation.

Jeff Poloni, President and CEO of K9 commented, "We are very excited to add to our JB Lithium Project in an area that is turning out to be extremely prolific for Lithium exploration."

About JB Lithium Project

The JB Lithium Project is located in the La Grande sub-province of the Archaean Superior Province in Quebec, and comprises three units, the Rivière Salomon property (see Company release November 15, 2022 for property details), the Lac Joubert - Tilly property (see Company release May 25, 2023) and the newly staked Lac Laribosière-Tilly.

Lac Laribosière-Tilly (LL-T)property

The geology of the LL-T property is underlain mainly by the Archean Joubert Suite and the Neoarchean Coates Suite. Where the Joubert Suite occurs on the property, it consists of a package of foliated, banded or gneissic biotite-tonalite and granodiorite. The rocks of the Coates suite have been described as biotite tonalite or granodiorite.

Within the property boundaries, both the Joubert suite and the Coates suite have been intruded by a broad zone of Tilly Pegmatites which comprise pegmatitic granite with biotite-muscovite-tourmaline-magnetite-garnet assemblages. These pegmatites are a significant lithium target for other explorers in this area. A 1998 Quebec Government geological mapping program located one outcrop of Tilly Pegmatites. Government mapping also indicates that the property is transected by diabase dykes of the Mistassini Dyke Swarm.

About K9 Gold Corp

K9 Gold Corp has assembled a highly-experienced and dynamic team to explore its JB Lithium Project. K9 also operates the Stony Lake Gold Project in central Newfoundland. The project has been acquired from District Copper Corp by an option agreement, whereby K9 can earn up to a 100% interest in the project (see Company release dated July 30, 2020). The Company also owns a 100% interest in the Desert Eagle Vanadium-Uranium project located in the historic Henry Mountains Mining District in SE Utah. The area has seen extensive historic vanadium and uranium mining and is close to Anfield Energy Inc's Shootaring Canyon mill.

To ensure a safe workplace environment that protects the health and safety of employees and contractors, K9 Gold follows all federally and provincially mandated and recommended guidelines regarding COVID-19.

Chris M. Healey, P. Geo, Chief Geologist and a Director of K9 Gold Corp., is the qualified person under NI 43-101 guidelines who is responsible for the technical content of this release and approves its release.

Toll Free Number: (833) 434-GOLD (4653)

Kosta Tsoutsis
Director
K9 Gold Corp.
email: kosta@k9goldcorp.com
Telephone: 604 808-9134

Brian Morrison
Chief Financial Officer and Director
K9 Gold Corp.
email: brian@k9goldcorp.com
telephone: 604 312-6910

The Company is listed on the TSX Venture Exchange.

Neither the 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.

Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding K9's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits K9 will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including K9's inability to identify transactions having satisfactory terms or at all and the results of exploration or review of properties that K9 does acquire. These forward-looking statements are made as of the date of this news release and K9 assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169784

FAQ

What is the company name involved in the press release?

The company involved in the press release is K9 Gold Corp.

What is the significance of the acquisition mentioned in the press release?

The acquisition of 25 additional claims expands K9 Gold Corp.'s JB Lithium Project in northern Quebec.

Where is the newly acquired property located?

The newly acquired property, Lac Laribosière-Tilly, is located east of Radisson, Quebec.

What type of rocks underlie the Lac Laribosière-Tilly property?

The Lac Laribosière-Tilly property is underlain by Archaean rocks.

What is the planned exploration program for the JB Lithium Project?

The planned exploration program includes surveys, soil sampling, prospecting, and mapping.