Xtract Lithium Corp. to Drill First Ever Lithium Brine Target at Willow Lithium Project in Manitoba

Vancouver, British Columbia--(Newsfile Corp. - August 19, 2024) - Xtract Lithium Corp. (the "Company" or "Xtract") a privately held exploration company specializing in lithium brine resources, is pleased to announce the launch of its inaugural brine exploration drilling project in Manitoba. This innovative drilling operation is slated to begin in the latter half of August 2024, marking a major milestone for the company.

Xtract Lithium acquired the mineral rights to over 177915.87 acres along the Duperow Formation in Manitoba (Willow Lithium Project). The choice of Manitoba for this exploration project is based on compelling geological evidence suggesting that the region is a continuation of the Duperow Formation which holds economic lithium brine deposits in Saskatchewan. The Duperow Geological Formations in Manitoba appear to continue seamlessly from Saskatchewan, which is renowned for its rich lithium brine resources. Additionally, the subsurface waters in Manitoba flow predominantly from west to east and out of the Williston Basin, aligning with the geological conditions that have proven favourable for lithium brine formation in neighbouring regions.

"Recent studies and drilling results in Saskatchewan report higher lithium concentrations (Jensen, 2012, 2016) in the same horizons than those tested in Manitoba. The Manitoba extension of these formations are shallower than the same formations that were tested for lithium found in Saskatchewan. The predominate regional groundwater flow is to the east and northeast (Figure 2), therefore there is the possibility that higher Li concentrations can also be found in Manitoba. The highest lithium concentrations in Saskatchewan are derived from brines evolving from evaporitic concentration mechanisms (Jensen, 2012)."

However, the Xtract technical team, in collaboration with academia and government research bodies, will be testing a new theory of the original lithium source with this drilling.

The primary objective of Xtract's initial drilling hole is to test this thesis and assess the potential for significant lithium deposits in the Manitoba Duperow Formation.

This project is fully permitted and expected to begin in late August and will be conducted in a strategic location within Manitoba's established oil and gas jurisdiction, an area that has recently attracted attention for its lithium brine potential. Utilizing advanced drilling techniques and state-of-the-art technology, our goal is to precisely evaluate the lithium concentration and quality of the brine, which will offer crucial insights into the region's mineral potential and lay the groundwork for future exploration and development.

The project is also partially supported by the Government of Manitoba's grant program, the Manitoba Mineral Development Fund.

"This marks a significant step forward for Xtract Lithium as we embark on our first brine exploration project along the Duperow Formation in Manitoba," said Bruce R. Wiebe, P. Geo., COO of Xtract Lithium. "Our team is excited about the possibilities this drilling campaign could unveil. We believe that Manitoba's Duperow geological conditions are highly promising for lithium brine deposits, and we are eager to further investigate this potential. The results from this project will not only enhance our portfolio but also support global efforts to secure a sustainable supply of lithium for the growing green energy sector."

Xtract Lithium remains committed to responsible and sustainable exploration practices, ensuring minimal environmental impact and strict adherence to all regulatory requirements throughout the project.

Willow Lithium Project

The Willow Lithium project covers mineral rights over 177915.87 acres along the Duperow Geological Formation that runs from Alberta, Saskatchewan and Manitoba. Economic lithium deposits are being developed by various companies along the Duperow Formation in Alberta and Saskatchewan, but the Manitoba Duperow Formation has never been drill-tested for its lithium potential. The Willow Lithium Project will be the first ever exploration project to test the thesis.

About Xtract Lithium Inc.

Xtract Lithium Inc. is a Canadian exploration company dedicated to discovering and developing high-quality lithium brine resources. Focusing on innovation and sustainability, Xtract Lithium aims to be a key contributor to the global shift towards renewable energy and electric transportation.

Forward-Looking Statements

This press release contains forward-looking statements regarding the anticipated outcomes of the drilling project and potential discoveries. These statements are based on current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed.

Xtract Lithium Inc. Empowering the Future with Sustainable Lithium Solutions

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