Canada NewsWire
GREATER SUDBURY, ON, March 9, 2026 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (OTC: LITOF) ("Frontier" or the "Company") is pleased to announce that the Company's PAK Lithium Project (the "PAK Lithium Project" or the "Project") has been recognized as a strategic priority critical minerals development under the Critical Minerals Production Alliance announced earlier last week at the 2026 Prospectors and Developers Association of Canada Convention (PDAC) in Toronto. The Project has been included on the G7 Critical Minerals Production Alliance list announced by the Government of Canada under its 2025–2026 G7 Presidency, a list which highlights projects that can benefit from international cooperation and policy coordination to advance development and get more minerals from reliable, trusted allies to markets.
The announcement of a non-binding Memorandum of Understanding (MoU) with Panasonic Energy (Japan) for future lithium offtake from the refinery, as well as the conditional approval of a $2.3 million investment through NRCan's Global Partnerships Initiative to develop treatment options that support the valorization of its by-products, align well with G7 critical minerals priorities and highlight the importance of the PAK Lithium Project in helping develop a secure, localized North American battery supply chain.
In addition to this federal recognition, the PAK Lithium Project has also been approved as the first project under the Government of Canada's "Permitting Coordination for Clean Growth Projects" initiative, which supports projects not designated under the Canadian Impact Assessment Act. The Federal permitting coordination framework is administered by the Impact Assessment Agency of Canada ("IAAC") and the Clean Growth Office and is subject to the Cabinet Directive on Regulatory and Permitting Efficiency which sets out a service standard for issuing decisions on all Federal permits and authorizations of two years.
These platforms provide Frontier with coordinated federal permitting support through IAAC and the Clean Growth Office, including the development of a detailed permitting plan outlining federal authorization requirements, key milestones, and departmental responsibilities. The process also provides a single federal point of contact to facilitate collaboration among Federal departments and agencies involved in project approvals, as well it can provide transparency allowing Federal progress reporting through the Canadian Impact Assessment Registry.
"Canada has a unique opportunity to build a globally competitive critical minerals supply chain," said Trevor Walker, President and Chief Executive Officer of Frontier Lithium. "The inclusion of our project in federal permitting coordination, alongside its recognition through the G7 Critical Minerals Production Alliance and Ontario's "One Project, One Process" initiative, reflects the strategic importance of developing secure, domestic lithium supply to support North American battery manufacturing."
Frontier's PAK Lithium Project, located in northwestern Ontario within the traditional territories of local First Nations, is expected to produce high-purity lithium concentrates and chemicals to support electric vehicle batteries and advanced energy storage technologies.
The Company continues to work closely with Indigenous partners, Federal and Provincial governments, and industry stakeholders as it advances development of a vertically integrated lithium supply chain in Canada.
Stock Option Grant
The Company also announces that pursuant to its "Stock Option Plan" it has granted an aggregate of 4,775,450 stock options, to certain employees, officers, directors, and consultants ("Stock Options"). Each Stock Option is exercisable into one common share of the Company at a price of $.87 per common share, expires 5 year from the date of grant and vests 50% on the date of issuance and 50% on the 1 year anniversary from the date of issuance. The Stock Options remains subject to approval by the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
Trevor Walker, President & CEO
About Frontier Lithium
Frontier Lithium Inc. is a pre-production mining company with an objective to become a strategic and integrated supplier of premium spodumene concentrates as well as battery-grade lithium salts to the growing electric vehicle, and energy storage markets in North America. The Company's PAK Lithium Project maintains the largest land position and resource in a premium lithium mineral district located in Ontario's Great Lakes region.
About the PAK Lithium Project
The PAK Lithium Project is a fully integrated critical minerals initiative in Ontario, developing a high-grade, large scale lithium resource. Operated as a joint venture between Frontier (92.5%) and Mitsubishi Corporation (7.5%), the project is advancing in parallel with a mine and mill, north of Red Lake, Ontario and a downstream lithium conversion facility in Thunder Bay, Ontario, which are both key to supporting a secure domestic lithium supply for the clean energy transition. A 2025 Mine and Mill Feasibility Study (FS), prepared by DRA Global Limited and entitled National Instrument 43-101 Technical Report FS PAK Lithium Project, Mine and Mill, outlines a 31-year Project life with an after-tax net present value of $932 million at an 8% discount rate and an after-tax internal rate of return of 17.9%.These results have been disclosed in the Company's press release dated May 28, 2025, and the accompanying technical report was filed on SEDAR+ (www.sedarplus.ca) on July 9, 2025.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact constitute forward-looking statements. Forward looking statements contained in this news release may include, the Stock Options and issuance, the PAK Lithium Project and its estimated development and economics, and statements with respect to: capital requirements and private and/or public financing initiatives and completion of these financings (if any), estimated mineral resources, estimated capital costs to construct a mine and conversion facilities, estimated operating costs, estimated cash flows, net present value, the Feasibility Study and statements that address future production, resource and reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects, including but not limited to capital and operating costs, timelines, internal rates of return, and project development milestones.
Forward-looking statements involve inherent risks and uncertainties. Risk factors that could cause actual results to differ materially from those in forward looking statements include: market prices for commodities, increases in capital or operating costs, construction risks, availability of infrastructure including roads, regulatory and permitting risks, exploitation and exploration successes, continued availability of capital and financing, financing costs, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, please review the Company's public filings available at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Frontier Lithium
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