Highest Lithium Values At Fish Lake Valley

CARSON CITY, NV - ACME Lithium Inc. reported on the recent Phase 2 geological field review and sampling program at Fish Lake Valley (FLV), Nevada has resulted in numerous new occurrences of lithium values exceeding 1200 ppm lithium with the highest surface value to date at 1418 ppm lithium. Boron anomalies up to 1964 ppm occur with and adjacent to surface lithium anomalies.

The FLV claim group encompass 144 lode mining claims totaling approximately 2,975 acres, in Esmeralda County, Nevada and is directly west and contiguous to Ioneer Ltd.'s world class Rhyolite Ridge Lithium-Boron project area.

As a pilot project, following a teaming agreement eight of these particular high grade lithium targets were identified utilizing ASTERRA's satellite-based technology.

ACME's Phase 2 sampling program is designed to focus primarily on the higher-grade lithium rock anomalies and to expand into adjacent areas of similar geology and alteration. Previous sampling has identified trends where anomalous lithium and boron values show structures that were open and receiving fluids at the time of mineralization. Those structural zones are targets for where lithium and boron mineralization could be hosted in structural blocks such as grabens. Lower grade lithium anomalies sampled along structural trend from higher grade zones may overlie stronger lithium mineralization at depth.

Fifty-eight rock and soil samples were collected as a follow-up to the FAST91 1325ppm lithium rock sample collected in the previous FLV sampling program. The most recent sampling continues to suggest that the lithium anomalies found on the Fish Lake Project are hosted by geologically young, basin fill claystone sediments comparable to those found at the nearby Rhyolite Ridge Mine. Lithium anomalies occur in these receptive clay stones along the margins of fault bounded graben basins and the current sampling has expanded the area of strong lithium mineralization, in addition to the discovery of additional scattered areas of strong lithium mineralization and a broad area of moderate claystone lithium mineralization approximately one-half mile east of the FAST91 sample. Shallow drill holes to test the areas of strong lithium anomalies are warranted as are the lithium anomalies associated with the geophysical anomaly northwest of the FAST91 area.

A geophysical survey completed in the fall of 2022 indicates the presence of a down-dropped fault block with interpreted target clay sediments potentially similar to illite units identified in the nearby Rhyolite Ridge lithium deposit.

Mapping, geophysics, and sampling to date are consistent with a model of structural feeder zones forming bedded mineralization within down-dropped structural blocks. Drilling is justified and is needed to test the full potential host section. Additional potential down dropped structural blocks containing geologically young sediments have been identified on the property and are currently being evaluated.