Acquisition Of Key Brazilian Lithium And Rare Earth Exploration Licenses

VANCOUVER - St. Anthony Gold Corp. has closed its previously announced transaction with Foxfire Metals Pty Ltd, an arms-length Australian Company, pursuant to which the Company acquired a 75% interest in eight Brazilian exploration licenses ("the Brazilian Portfolio"); six for lithium and two for rare earth elements (REE).

The Brazilian Portfolio totals 12,315 hectares of highly prospective lithium and REE exploration licenses, in the states of Minas Gerais and Bahia for lithium and Goas for REEs. Brazil is now recognized as one of the world's major high grade lithium producers confirmed by Tesla (TSLA:NASDAQ) supplier recently securing off take agreements with Sigma Lithium Corporation's subsidiary Brazilian Sigma Mineraçao SA.

Three of these lithium licenses lie within the highly prospective northern portion of the state of Minas Gerais in the municipality of Padre Paraiso, approximately ~38 Km's east of Sigma Lithium's Grota Cirilo property in Minas Gerais, Brazil. Sigma Lithium recently announced it is on schedule to make its first shipment of spodumene concentrate in April of 2023 and stands to become one of the largest and greenest lithium operations in the world.