In Sudbury, ON, on August 22, 2024, Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF), a company deeply committed to social responsibility, commends the federal and provincial governments for the budget allocation towards the Beren’s bridge and road project. This visionary project, initiated over 30 years ago by First Nation leaders, aims to establish essential year-round road infrastructure for the communities in the Treaty #5 Ontario region. The collaboration between provincial, federal authorities, and Indigenous Peoples highlights a significant step towards reconciliation.
The construction funding provided by the provincial and federal governments will facilitate the development of a two-lane, 196-meter bridge over the Berens River, as well as upgrade and construct over 30 kilometers of roads, including those leading to Pikangikum First Nation. This infrastructure project is expected to enhance mobility, safety, and economic prospects for the region’s residents, spanning across seven First Nation communities in northwestern Ontario.
Chief Shirley Keeper of Pikangikum First Nation emphasized the project’s potential to improve access to essential goods and services, stimulate economic growth, and create opportunities for future generations. Among other benefits, the completion of the Beren’s Bridge and Road Project is anticipated to unlock the potential of the PAK Lithium Project, contributing to regional development and prosperity.
Frontier Lithium’s President and CEO, Trevor Walker, expressed appreciation for the leadership of Pikangikum First Nation and Treaty #5 Ontario communities, underscoring the transformative impact of the project on the region’s economic landscape. As Frontier Lithium embraces this community-centered initiative, the company remains committed to collaborating with Indigenous communities and partners to ensure the successful implementation of the Beren’s Bridge and Road Project.
Frontier Lithium Inc. is focused on becoming a key domestic supplier of spodumene concentrates and battery-grade lithium products for the burgeoning electric vehicle and energy storage markets in North America. With the PAK Lithium Project situated within Ontario’s Great Lakes region, Frontier Lithium holds the largest land position and resource reserves in a premier lithium mineral district.
The PAK Lithium Project, North America’s highest-grade lithium reserve, spans close to 27,000 hectares and includes two premium spodumene-bearing lithium deposits, PAK and Spark. The recent Pre-Feasibility Study conducted by BBA E&C Inc. indicated a robust project life, highlighting significant post-tax NPV and IRR figures, underscoring the project’s economic viability.
Investors are cautioned that forward-looking statements in this release are subject to inherent risks and uncertainties, including market volatility, regulatory challenges, and infrastructure constraints. For additional information on Frontier Lithium Inc., please refer to the company’s public filings available at www.sedarplus.ca.
