Vancouver, BC, April 6, 2022 – Infinity Stone Ventures Corp. (formerly Contakt World Technologies Corp.) (CSE:GEMS) (OTC:TLOOF) (FSE:B2I0) (the “Company” or “Infinity Stone”) is pleased to provide, further to its announcement on March 31, 2022, further information regarding its 100% acquisition of the PAK South and PAK Southeast claims (the “Properties”), located approximately 170km north of Red Lake, Ontario, in the Red Lake Mining Division (the “Agreement”),The PAK South and PAK Southeast properties cover 1258 hectares and 158 hectares, respectively, and cover several pegmatite units identified in regional mapping by the Ontario Geological Survey (OGS)(1). The Properties are adjacent to Frontier Lithium’s (TSX.V:FL) PAK Lithium Project, which includes two lithium deposits, the Spark Deposit and PAK Deposit, as well as two other prospects(3). On February 16, 2022, Frontier Lithium announced that it encountered “405 metres of 1.5% Li2O” at its Spark Deposit(4). Frontier Lithium’s PAK Deposit hosts a mineral resource in measured and indicated categories of 6.68Mt @ 2.02% Li2O and inferred of 2.67Mt @ 2.29% Li2O, while the Spark Deposit hosts an indicated resource of 14.4Mt @ 1.40% Li2O and an inferred resource of 18.1Mt @ 1.37% Li2O(2)(3). The Company is unable to verify the information respecting results at these properties. Furthermore, the information presented herein is not necessarily indicative of the mineralization on the Properties. HighlightsPAK South and PAK Southeast are both located directly adjacent to Frontier Lithium’s PAK Project and share a boundary with the Frontier Lithium PAK project for approximately 14 kilometres.Both properties cover several pegmatite units as mapped by the Ontario Geological Survey (OGS).Properties are located in the heart of Ontario’s “Electric Avenue”, in the vicinity of Avalon Advanced Materials Inc. (TSX:AVL)(OTCQB:AVLNF) (“Avalon”), recently announced lithium battery metals refinery.Infinity Stone plans to dispatch a team to the Properties as soon as weather conditions permit.
Figure 1: Map of Infinity Stone Claims
Infinity Stone will focus on locating the mapped pegmatitic units as identified by the OGS and intends to dispatch a geological team to the newly acquired ground to initiate a field reconnaissance program as soon as weather conditions permit. The Company will release an exploration plan prior to commencement of work.
About LCT Pegmatites
LCT (lithium-cesium-tantalum) pegmatites are enriched in the incompatible elements lithium, cesium, tin, rubidium, and tantalum, and are distinguished from other rare-element pegmatites by this diagnostic suite of elements. They are a petrogenetically defined subset of granitic pegmatites that consist mostly of quartz, potassium feldspar, albite, and muscovite. The major lithium ore minerals are spodumene, petalite, and lepidolite. LCT pegmatites typically occur in groups, which consist of tens to hundreds of individuals and cover areas up to a few tens of square kilometres.(2)These deposits are an important link in the world’s supply chain of rare and strategic elements, amounting to about one quarter of world lithium production, with the largest deposits by tonnage including Greenbushes, Wodgina, and Pilgangoora (Australia), and Manolo-Kitotolo (DRC).(2)
Lithium is primarily used in the production of lithium-ion batteries and is a critical element in the production of electric vehicles (EV). Panasonic, TESLA (NASDAQ: TSLA), CATL, LG Chem made several announcements recently on battery manufacturing facilities to be located in North America and Europe for the projected increase in EV manufacturing and TESLA recently announced a lithium offtake agreement with Core Lithium of Australia(5).
The technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a “Qualified Person” as defined under NI 43-101 Standards of Disclosure for Mineral Projects.
The Company also announces that it is re-pricing existing warrants to bring them more into line with the Company’s trading prices. Details include:6,859,805 warrants issued between November 20, 2020 and February 25, 2021 at an exercise price of $1.00 have been re-priced to $0.501,404,064 warrants issued between January 19, 2021 and July 13, 2021 at an exercise price of $1.30 have been re-priced to $0.50; and333,900 broker warrants issued between November 20, 2020 and July 9, 2021 at an exercise price of $1.00 have been re-priced to $0.50.ReferencesOntario Geological Survey Precambrian Geology of Whiteloon Lake, Map P.3224.NI 43-101 Technical Report for the PAK Lithium Project in Northwest Ontario, prepared for Frontier Lithium Inc, April 9, 2021.Frontier Lithium Inc. (TSX.V:FL) News Release dated March 1, 2022, “Frontier Lithium successfully converts Inferred Resource to 14 million tonnes of Indicated Resource on the Spark Deposit”.Frontier Lithium Inc. (TSX.V:FL) News Release dated Feb 16, 2022, “Frontier Drills 405 Metres of 1.5% Li2O from Phase X Drilling at Spark”.Core Lithium Ltd. (ASX:CXO) News Release dated March 1, 2022, “Core Lithium and Tesla enter into binding Term Sheet for the supply of lithium”.
About Infinity Stone Ventures
Infinity Stone Ventures Corp.’s mission is to deliver solutions across industries. The Company’s primary business units are Contakt World and HealthCheck (Stratum Health Technologies LLC) and the Company is actively looking to acquire portfolio assets in other sectors such as SaaS solutions and energy metals.
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Infinity Stone Ventures Corp.
CEO and Director
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.Forward-Looking Statements DisclaimerThis press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “projects”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements, including statements respecting: the anticipated work program at the Properties; and the re-pricing of warrants of the Company. Although forward-looking statements contained in this press release are based upon what management of Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of the Company, including those described in the Company’s public filings available onwww.SEDAR.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.