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Vision Lithium Files Updated Preliminary Economic Assessment Technical Report For The Sirmac Lithium Project

VAL-D’OR, QC Aug. 10, 2023 /CNW/ – Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF) (FSE: 1AJ2) (the ” Company ” or ” Vision Lithium reports that it has filed an updated technical report supporting the Preliminary Economic Assessment (“PEA”) for the Company’s 100%-owned Sirmac Lithium Project, located within the Frotet-Evans Greenstone Belt of northern Quebec (the “Technical Report”). The Technical Report, titled “NI 43-101 Technical Report: Preliminary Economic Assessment on Pegmatite Dike #5 Lithium-Tantalum Deposit; Sirmac Property, Québec” dated February 15 , 2023 (amended August 2, 2023 ), was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) by Mr. Claude Duplessis , P. Eng. Senior Engineer, GoldMinds Geoservices (“GMG”) and Mr. Daniel Dufort , P. Eng. Engineer, GMG.

The Technical Report contains certain non-material changes to the summary information contained in the Company’s , and , news releases. In particular, the consultants have added a section on density measurements to validate mineral resources, as well as cautionary language related to market studies and contracts.

The positive PEA, announced February 21, 2023 , demonstrates the potential for Vision Lithium to develop the Sirmac deposit as a Direct Shipping operation (DSO) with potential very high returns.

Preliminary Economic Assessment Highlights (all results are reported in Canadian Dollars unless otherwise specified):

  • Pre-Tax net present value (“NPV”) (discount rate 5%) of C$183.6M , internal rate of return (“IRR”) of 839% and payback less than 1 year
  • After-Tax net present value (“NPV”) (discount rate 5%) of C$104.8M , internal rate of return (“IRR”) of 484% and payback less than 1 year
  • Assumed DSO selling price of US$591 per tonne / C$797 per tonne based on US /t concentrate pricing.
  • 4 years of mine life with 321,000 tonnes of DSO at 1.33 % Li O
  • Revenue of C$253.4M
  • Life of Mine capital of C$3.1M
  • Operation cost per tonne of DSO at C$142