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Imagine Lithium Reports High Grade Li20 in Grab Samples Taken from Newly Identified 3 km Trend of Lithium-Bearing Pegmatites at Jackpot

Press Release

September 7, 2022, Vancouver, BC, Canada – IMAGINE LITHIUM INC. (the “Company” or “Imagine”) (ILI-TSX:V) (OTCQB:ARXRF) is pleased to announce assay results from its ongoing prospecting program on the Jackpot lithium property located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario. Based on the summer prospecting program, Imagine Lithium has identified a 3 km trend of sub-parallel spodumene-bearing pegmatite dikes that extends to the east and west of the Jackpot main drilling area. See Figure 1 which outlines the approximately 18,800-hectare Jackpot Lithium property and trend. Today’s assay results from 57 granitic pegmatite samples collected from the south-west of Jackpot are displayed in Figure 2 and Table 1 and contain multiple high grade Li2O grab samples. Grab samples were also taken from dikes in the north-eastern portion of this 3 km trend and assay results are pending. Figure 3 indicates the location of spodumene-bearing pegmatites that have been identified elsewhere on the property.

J.C. St-Amour, President of Imagine commented, “Our summer prospecting program has been a complete success with multiple new lithium-bearing dikes being identified on just a small portion of this vast property. Our geologist did not venture far from our main Jackpot zone to identify and sample new lithium-bearing dikes. Given our prospecting success in the immediate vicinity of our drilling area I am very encouraged about the potential for this property to host many additional dikes. In the meantime, this 3 km trend will be the focus of our next fall/winter drill program.”

St-Amour continued, “One of the best features of this project is its location and proximity to infrastructure, being a short drive from the major port of Thunder Bay. Below is a link to a short video of the property which shows several outcrop dikes as well as the project’s proximity to infrastructure, which is key to the economics of any mining operation in the future.”

Link to Jackpot Video

https://youtu.be/1MayChmGy5g

Figure 1: Jackpot Lithium project and 3 km Lithium Pegmatite trend.

Figure 2: Map Identifying Grab Sample Assay Results to the SW of the Jackpot Main Zone.

Figure 3: Map Identifying Pegmatite Locations.

Table 1: Significant Grab Sample Assay results

Sample_no* Easting Northing# Li (wt. %) Li2O (wt. %)
781984 431272 5462688 0.18 0.39
781907 431430 5461280 0.31 0.66
781924 430994 5460634 0.37 0.79
781923 431003 5460637 0.51 1.10
781985 431282 5462751 0.60 1.29
781937 431564 5461315 0.74 1.59
781934 431531 5461305 0.75 1.62
781991 431514 5461026 0.79 1.70
781990 431488 5461009 0.82 1.75
781915 431259 5460856 0.97 2.09
781912 431273 5460808 1.00 2.15
781992 431355 5461192 1.14 2.45
781997 431333 5461197 1.17 2.53
781996 431340 5461206 1.23 2.65
781935 431541 5461304 1.25 2.68
781918 431099 5460665 1.34 2.89
781982 431635 5461912 1.37 2.95
781995 431341 5461183 1.40 3.02
781919 431062 5460654 1.43 3.08
781927 430931 5460624 1.50 3.23
781921 431029 5460641 1.52 3.28
781922 431017 5460649 1.52 3.27
781930 431512 5461301 1.56 3.36
781911 431243 5460811 1.70 3.66
781933 431532 5461302 1.73 3.72
781914 431250 5460859 1.76 3.79
781994 431349 5461187 1.81 3.90
781931 431519 5461301 1.86 4.00
781929 431502 5461286 1.90 4.09
781917 431362 5460962 1.95 4.20
781913 431226 5460841 1.97 4.25
781999 431334 5461226 2.00 4.31
781928 431494 5461291 2.04 4.39
781910 431238 5460802 2.09 4.50
781936 431550 5461303 2.09 4.50
781993 431357 5461192 2.12 4.56
781932 431525 5461305 2.15 4.62
781998 431326 5461207 2.45 5.28
781920 431044 5460642 2.51 5.39
781909 431214 5460794 2.66 5.73
781908 431208 5460791 2.72 5.86
781938 431507 5461139 2.86 6.15
#NAD83; Zone 15N

* Samples from granitic pegmatite dikes display variable texture and mineral size that can alter the true Li content of the lithology. The analyzed Li concentrations may not necessarily represent the value of the pegmatite dike.

About Jackpot

The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*.

Qualified Person

The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.

* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

About Imagine Lithium Inc.

Imagine Lithium is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.

ON BEHALF OF THE BOARD
“J.C. St-Amour”
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770

IBF4

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