Tearlach Adds to Its Portfolio of Quebec Lithium Properties With Further Acquisitions - Seite 2

Figure 1 Location of Rose North, Fliszar, and Muscovite Ridge Properties, James Bay area, northern Quebec.

Technical Information:
The Fliszar Property has 17 white pegmatites hosted by granite and paragneiss and is on the subprovincial boundary between Opinaca and La Grande subprovinces, according to the Sigeom website. One of the Fliszar claim blocks has seven white pegmatites with biotite, muscovite, tourmaline, and garnet. The presence of muscovite, tourmaline, and garnet indicates an increased level of fractionation and more potential to be associated with lithium mineralization.

Newmont Mining’s Eleonore underground gold mine is located between the Fliszar and Muscovite Ridge Properties. The Eleonore mine is 11 km southeast of Fliszar and 10 km southwest of Muscovite Ridge.

The Muscovite Ridge Property has 41 white pegmatites hosted by granite, paragneiss, and migmatited paragneiss within the Opinaca subprovince, according to the Sigeom website. The pegmatites with biotite paragneiss xenoliths also contain biotite, tourmaline, and garnet. The presence of tourmaline and garnet in the pegmatites indicates enrichment in boron and iron from the paragneiss.

The Rose North Property has 20 pink to white pegmatites with graphic textures hosted by granodiorite, granite, and tonalite within the La Grande subprovince according, to the Sigeom website. The Rose North property is located 15 km north of Fury Gold Mines’s Eau Claire gold project.

All three properties are close to the Opinaca and La Grande Subprovincial boundaries, which is a deep-seated regional structural boundary. The Opinaca subprovince is composed of Archean paragneiss and migmatites derived from feldspathic wackes. These metasedimentary rocks are intruded by post-tectonic granodiorite, granitic pegmatites, and tonalite. The La Grande subprovince is composed of metasedimentary-mafic metavolcanics greenstone belts intruded by granodiorite, granite, granitic pegmatites, and tonalite. The Corvette, Cancet, and Adina pegmatites are hosted by the greenstone belts of the La Grande subprovince.

Option Agreement Terms:

Pursuant to the Option Agreement, Tearlach may acquire a 100% interest in each of the 3 properties from arm’s length vendors by making cash payments, issuing common shares in the capital of Tearlach (“Common Shares”) per property of:

Payments per property

Cash Payments

Value of shares