Lithium Mineralization Expanded And Discovery Of Higher Grade Samples

VANCOUVER - TinOne Resources Inc. announced that further rock sampling has confirmed and expanded the previously reported lithium discovery at the 9,600 hectare Aberfoyle Project located in the tier-one mining jurisdiction of Tasmania, Australia.

"We are very excited with the lithium grades achieved to date at Aberfoyle," commented Chris Donaldson, Executive Chairman. "Results confirm the existence of significant lithium mineralization in north-east Tasmania in a road accessible area that supports resource development. Importantly, we believe that we control a dominant land position over the key prospective granites for lithium mineralization in the state. The discovery of strong lithium mineralization of up to 1.14% Li2O at the Three Pigs prospect represents an important milestone for the Company and complements a portfolio of projects with high tin prospectivity. In light of these latest results, we intend to accelerate the lithium exploration activities at our properties in northeast Tasmania while continuing to advance our exciting tin projects."

Follow up sampling at the Dead Pig and Guinea Pig prospects have confirmed the earlier discovery of lithium-bearing rocks. A further 43 rock samples were collected over an area of approximately 1 square kilometer at the Dead Pig and Guinea Pig prospects where previous reconnaissance sampling returned five samples with elevated lithium values of 0.1% Li2O or above with a maximum of 0.57% Li2O (see the Company's news release dated February 8, 2023). This new round of sampling has returned eleven samples with Li2O > 0.50% and a maximum value of 1.14% Li2O.

Sampling to date has defined an area of approximately 12 hectares within which the >0.20% Li2O samples occur. Preliminary interpretations indicate that the higher-grade mineralization occurs in NNW-trending parallel zones of so far defined up to 250 m in strike length. Further work is required to better define the surface morphology of the mineralization and the width of mineralized zones.

Greisen alteration of the type sampled at Aberfoyle is a typical alteration style associated with many tin deposits globally and is also associated with certain large scale lithium deposits, where the mica alteration minerals are lithium-bearing. Lithium grades (expressed as Li2O) in these mica-hosted deposits are typically in the range 0.3-0.7% Li2O.