Discovery Lithium Provides Project Overview - Seite 2

Over the summer, Discovery Lithium engaged Ground Truth Exploration to deploy experienced research teams onto the Nunavik properties for an extensive mapping and sampling campaign. These were previously determined to be an excellent location for rare-element pegmatites including favourable lithological rock-types and structural interpretation of regional magnetics which are coincident with very high lithium, cesium, and rubidium lake sediment samples. All samples collected over the summer have been shipped to SGS laboratories with assay results anticipated by the end of November 2023. Based on these results the Company will develop drill targeting and logisitics for follow-up campaigns aimed at developing the properties for future valuation purposes.

Route Du Nord Project, James Bay Region

The Route Du Nord project is located approximately 575 km north of Val d’Or in the James Bay region of central Quebec encompassing approximately 60 square kilometers stretching 36 km east to west and is parallel to and within 5 km of the 407 km long wilderness road known as the “Route Du Nord.” The project has excellent infrastructure access with the Nemiscau hydroelectric installation located 5 km to the south. Roughly 35 km to the east is the world-renowned Whabouchi lithium deposit¹ co-owned by Investissement Quebec and Livent Corporation (NTSE:LTHM). This deposit occurs within a regional thrust fault that extends and terminates in the Valiquette pluton. The fault acted as a pathway for LCT (Li-Cs-Ta) pegmatite melt at the Whabouchi lithium project and may host other LCT pegmatites along strike. The Route Du Nord project captures the continuation of the thrust fault into the Valiquette Pluton, making it highly prospective for LCT pegmatites.

Lac Belanger and Lac Ferland Projects, St. Lawrence North Coast, Eastern Quebec

The Lac Belanger and Lac Ferland projects are on the north coast of the Gulf of St. Lawrence in Quebec and encompass 80 square kilometers combined. The claims are located on metasedimentary terrane near fractionated granites that are potential source intrusions for LCT pegmatites. Pegmatites are described in the region by the geological survey of Quebec and were mapped to the south along the coast where mapping occurred in detail. Lithium in lake sediments on the claims is up to 15 times enriched with respect to the immediate surroundings.