Weekapaug Lithium Ltd. Announces Proposed Name Change to Protium Clean Energy Corp. and Provides Corporate Update
Toronto, October 29, 2024 - Weekapaug Lithium Ltd. (CSE: GRUV) ("Weekapaug" or the "Company"), is pleased to announce that it intends to change its name to Protium Clean Energy Corp. which better reflects the Company's mission of clean energy exploration. The Company's common shares are expected to continue to trade on the Canadian Securities Exchange ("CSE") under the ticker symbol ("GRUV"). The Company believes that Canada has an opportunity to become a significant global player in clean energy through effective and efficient exploration for the metals, minerals, and gases required for the new economy. Management is excited to share its vision and tactical plans for moving the Company's current portfolio forward.
Hydrogen
The Company is pleased to update shareholders on the previously announced regional remote sensing gas survey over a 12,000 sq. km area of Ontario and Quebec. Data acquisition and initial processing have begun for the gases. Aster Funds has trained its QDFC Predictive Fingerprint Target Mapping algorithms and AI on the known hydrogen occurrences from the main graben areas in Temiskaming, where QIMC is located. This will allow the technology to look for similar spectral responses to QIMC and assist the Company in developing the best possible exploration strategy for hydrogen and other gases. In addition, hydrogen and other gas abundances in the survey area will be directly mapped at different seasons to define areas of high hydrogen and other gasses for follow-up ground exploration.
Kimberlites, silver, and cobalt deposits (critical minerals/metals) are known and are currently being collated in the satellite survey area. Utilizing different spectral and hyperspectral techniques, a selected area of 3,500 sq. km centred on the current claims area will be surveyed to determine target areas for exploration for critical minerals/metals and kimberlites.
Lithium
On October 16, 2023, the Company announced the successful completion of the 2023 exploration program on its 100% owned Nakina Lithium Property ("Nakina Property") in Ontario, Canada.
Analyses of bedrock and till samples collected during a Grass Roots exploration program of outcrop grab sampling and till sampling confirmed the presence of significant lithium mineralization. The Company intends to follow up on the exploration with detailed geological mapping, sampling and mineralogy.
In addition the Company also intends to incorporate the aforementioned satellite surveying techniques to delineate pegmatite target areas and using satellite long-wave infrared (LWIR) technology to map non-lithium minerals.
John Ryder, P.Geo, a "Qualified Person" as that term is defined under NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Ryder is also a consultant of the Company.
About Weekapaug Lithium
Weekapaug Lithium Limited is a junior exploration and development company focused on identifying, acquiring, and exploring prospective minerals in Canada's extensive natural resources portfolio. We focus on exploring and developing our 100% owned Nakina Lithium and Firstbrook Hydrogen properties in Ontario, located in Northern Canada, and identifying and pursuing further opportunities by region using various satellite surveys. This allows Weekapaug Lithium Limited to evaluate large tracts of land quickly and cost-effectively to delineate targets for natural gasses and critical minerals required for the modern world.
On Behalf of the Board of Directors,
"Marc Branson"
CEO and Director
Email: investors@weekapaug.ca
Website: weekapaug.ca
Phone: 604-816-2555
Forward-Looking Information and Cautionary Statements
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law including statements relating to completing an name change, the future market for clean energy in Canada and worldwide and conducting planned exploration on the Company's projects. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE, failures to finance future exploration, risks associated with exploration, environmental issues and challenges to validity of title, technological hurdles, uncertainty in the future financial viability of clean energy projects, including the Company's projects, global economic and political conditions. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.
