Discovery Lithium’s 2023 Exploration Program Sets the Stage for 2024

Company planning second phase of exploration for upcoming season

VANCOUVER, British Columbia, March 01, 2024 (GLOBE NEWSWIRE) -- Discovery Lithium Inc. (CSE: DCLI) (OTC: DCLIF) (FRA: Q3Q0) (WKN: A3EFKA) (the “Company” or “Discovery Lithium”), a Canadian exploration company focused on advancing domestic energy freedom through regional lithium discovery, is pleased to provide the following summary of its recently concluded 2023 exploration program in the province of Quebec.

Highlights:

• The Lac Belanger claim area showed large pegmatite occurrences which are targeted for Phase 2 exploration based on positive lithium, cesium, and tantalum (LCT) geochemistry.
• Lac Belanger presented tourmaline bearing pegmatites showing increased lithium and possible fractionation trends towards an as-yet unexplored part of the claim area.
• Further north, initial prospecting and sampling on the Serindac Lake claims yielded pegmatites with anomalous values of lithium in a supracrustal volcanic sequence paving the way for continued exploration across the extensive landholding.
• All outstanding results from 2023 have been received and are being interpreted by Discovery Lithium’s exploration team.

Company Technical Director Dr. Jacob Verbaas, P. Geo states, “We expect 2024 to be an exciting year for the Company. We have laid a solid foundation with the highly efficient exploration programs we conducted over our northern Quebec Claim blocks and continue to explore for lithium at our extensive 75,256-hectare Serindac Lake Project in this new exploration hotspot. Perhaps unexpectedly, but no less exciting is that with only several days of initial prospecting, our claims north of the Gulf of St. Lawrence in Quebec have yielded an emerging target area based on LCT vectors in two separate large pegmatites. The geochemistry is compelling, and we look forward to going back to this region once the weather is amenable.”

Lac Belanger: Vectoring to lithium mineralization

At Lac Belanger, 18 rock samples were taken at 8 localities over three days of sampling and prospecting. One large pegmatite yielded tourmaline in 5 out of 6 rock samples and an increasing lithium grade of up to 59 ppm towards the south where it disappears under overburden. The pegmatite is also anomalous in cesium with an average value of 11 ppm. A second pegmatite with tourmaline appears to yield a similar vector of mineralization towards the southwest, with a high of 39 ppm lithium. Taken together, these values and observed mineralization point to an area of increased LCT-bearing pegmatite potential under overburden in the center of the claim (see figures 1 & 2). This area is a prime target for follow up exploration in 2024. Potential methods used for Phase 2 exploration include heavy mineral analysis of till samples to identify the mineral spodumene and continued prospecting and sampling. The average values of 18 rock samples on the Lac Belanger claims for Li, Cs and Ta were 20 ppm, 9.1 ppm and 1.9 ppm, respectively.