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MONTRÉAL, QUÉBEC, CANADA — (January 18, 2022) – Genius Metals Inc. (TSXV: GENI) (“Genius Metals” or the “Corporation”) is pleased to report that Lithium381’s optionee, Clarity Metals (CSE: CMET, OTC: CLGCF, FSE: 27G0) has submitted a drill permit application after receiving positive preliminary results from a recently completed IP/Resistivity survey over a portion of the Lithium381 property (see Genius news release dated January 17, 2023) (the “Property”). The Lithium381 property is adjacent to the James Bay Lithium mine, which received the approval of the government of Canada on January 16, 2023.
Drilling Permit Application
The drilling permit submitted includes locations for 27 drilling pads. Genius Metals and Clarity Metals have begun planning a follow-up drilling program which will be further refined when additional geophysical and remote sensing survey results are received. The drilling permit is focused on testing a target interpreted from preliminary results produced by a recently completed IP/Resistivity survey which identified a 1.5 km EW-oriented area of relative high resistivity values (Figure 1)
The Lithium381 Property
The property is located in the James Bay Eeyou Istchee territory, Quebec, Canada, approximately 3km from the KM381 service station, which serves as an infrastructure for the local area.
The 21 mineral claims comprising the 1107 ha property are contiguous to Allkem Limited’s (TSX: AKE) James Bay Lithium property which comprises the Allkem lithium mineralization (40.8 Mt @1.40% Li2O as Indicated Resource) formerly known as Cyr lithium from Galaxy Lithium. The James Bay Lithium project has received the approval of the government of Canada for the construction of a 20-year lifespan mine on January 16, 2023.
Genius Metals signed an option agreement with Clarity Metals Corp. (CSE: CMET, OTC: CLGCF, FSE: 27G) on December 6, 2022 which enables CMET to acquire a 50% interest in the Corporation’s Lithium381 property, located in the James Bay-Eeyou Istchee region of the Province of Quebec. To acquire this interest in the property, Clarity must spend $750,000 in exploration work before December 31, 2024, and issue 720,000 common shares of its capital to Genius Metals.
The technical information in this news release was reviewed and approved by Michel Boily, Ph.D., P. Geo, a qualified person under NI 43-101.
About Genius Metals
Genius Metals is a Canadian mineral exploration company focused on the acquisition, exploration and, if warranted, development of natural resource properties of merit in Canada.
Genius Metals Inc.
Vice-President Corporate Development
President and CEO