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Neo Lithium Supports a Sustainable Future by Engaging Golder & UNSAM for the ESG Program of the 3Q Project

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  • UNSAM engaged to implement sustainable mining protocols for operation

  • Golder engaged to assist the project in demonstrating strong ESG commitment

  • Golder also will study the CO2 footprint of the 3Q Project for the DFS

  • Neo Lithium has followed the ESG structure since its early exploration and development phases through e3 Plus framework and is now working in implementing sustainable mining protocols

TORONTO, April 12, 2021 /CNW/ - Neo Lithium Corp. ("Neo Lithium" or the "Company") (TSXV: NLC) (OTCQX: NTTHF) (FSE:NE2), is pleased to announce that it has engaged Golder Associates Ltd. ("Golder") and the Argentinean National University of San Martin ("UNSAM"), to assist with the Environmental, Social and Governance ("ESG") program for its Definitive Feasibility Study ("DFS") and in preparation for future construction and operation of the 3Q project.

Neo Lithium Corp. Logo (CNW Group/Neo Lithium Corp.)
Neo Lithium Corp. Logo (CNW Group/Neo Lithium Corp.)

Neo Lithium through its wholly owned Argentinean subsidiary, Liex SA, began the process of preparation, training, and implementation of a ESG system for its 3Q Project since the early stages of exploration in 2016. The Company hired multiple international consultants, including late Emeritus Scientist Dr. Johannes Boon, who set the Company's 3Q Project program following e3 Plus1 framework. Since that time, the Company has continued to operate and enhance these processes. As part of the DFS work conducted by Worley, the Company has started to solidify its operational and technical teams as well as its systems towards a full long-term sustainable future.

"We have been working since the very beginning of the project following the highest standards. We now bring Golder to work cooperatively with UNSAM and our team to upgrade the standards to be applied even further to future construction and production of the 3Q Project," said Waldo Perez, CEO of Neo Lithium Corp. "We take very seriously our compromise with all of our stakeholders and future generations, which in large part includes all aspects of ESG."

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1 e3 Plus is a framework for responsible exploration which has been developed for mineral exploration companies by the Prospectors and Developers Association of Canada.

UNSAM Engagement

In order to get ready to indicate pond construction the Company has engaged the UNSAM to design the Towards Sustainable Mining (TSM)2 protocols adapted in Argentina under Acronym HMS in collaboration of all mining producers of Argentina with the Mining Association of Canada (MAC). UNSAM will complete the protocols and organize the implementation of the ESG system and prepare a comprehensive regional diagnosis of relevant social issues that will allow the development of a longer-term strategy during the life of mine of the 3Q Project. This work is expected to be finalized during 2021 together with the DFS work.

___________________

2 Towards Sustainable Mining (TSM) is a commitment by the Mining Association of Canada (MAC) to responsible mining. It is a set of tools and indicators to drive performance and ensure that mining risks are managed responsibly at its members' facilities.

Golder Engagement

Neo Lithium has engaged Golder to review and guide the ESG protocols designed by the UNSAM for the 3Q project. The scope of work from Golder includes:

  1. Review project information to match ESG standards that apply to the Company and the 3Q Project based on ESG requirements of potential investors.

  2. Estimate the project carbon footprint and benchmark the carbon intensity and other key ESG metrics against similar projects.

Lower CO2 intensity

In support to key parameters of ESG: "Climate Action and Affordable Clean energy" and based on relevant industry standards Neo Lithium plans to be at the low end of the CO2 emission footprint when compared to any other brine asset worldwide. As stated on Roskill's "Lithium: Sustainability Monitor, 1st Edition" CO2 intensity from the production of lithium in brine and mineral industries (hard rock lithium production via spodumene concentrate) show a sharp contrast when examining their CO2 footprints. Brine operations produced refined lithium at a weighted average carbon intensity of 2.8t CO2/t LCE, whereas the mineral industry has an average intensity of 9.6t CO2/t LCE.

CSR Program in Argentina

The Corporate Social Responsibility (CSR) program for the 3Q project was designed following e3 Plus framework which encompassed programs such as: Hiring Local manpower (Liex SA has close to 80% local employment in the 3Q Project, and is the main private employer in the local community), Approaching the Community communication program (includes an open door policy, permanent radio, tv and social media information, visits to the project sponsored by Liex SA among other communication tools), Stakeholder Mapping and Monitoring program, Buy Local program as well as a permanent Fiambalá community office with an exclusive local operations team. Liex SA has also focused on empowering the community by providing training courses related to wellbeing, health issues, technical programs as well as providing information on the lithium industry, environment and the 3Q Project. For further information on our programs please visit the following informational links from Liex SA:

Website page (www.liex.com.ar)
YouTube channel (www.youtube.com/channel/UC7aXW7zoKLJ52NKhfByPqOA)
Facebook page (www.facebook.com/liexargentina)
Linkedin page (www.linkedin.com/company/liex-s.a./)
Instagram page (www.instagram.com/litioargentina/)

Grant of Options

Neo Lithium has granted to directors, officers and consultants of the Company stock options (the "Options") to purchase a total of 3,200,000 common shares at a price of $3.05 per common share. The Options are exercisable for a period of 5 years and have been granted in accordance with the terms of the Company's current stock option plan.

About Neo Lithium Corp.

Neo Lithium Corp. has quickly become a prominent new name in lithium brine development by virtue of its high quality 3Q Project and experienced team. Neo Lithium is rapidly advancing its 100% owned 3Q Project - a unique high-grade lithium brine lake and salar complex in Latin America's "Lithium Triangle".

The 3Q Project is located in the Catamarca Province, the largest lithium producing area in Argentina covering approximately 35,000 ha including a salar complex of approximately 16,000 ha.

Additional information regarding Neo Lithium Corp. is available on SEDAR at www.sedar.com under the Company's profile and at its website at www.neolithium.ca, including various pictures of ongoing work at the project.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statements Regarding Forward-Looking Statements - Certain information set forth in this news release may contain forward-looking statements. Such statements include but are not limited to, statements concerning the Sidecar Placement and the Brokered Offering, the intended use of proceeds therefrom, the Closing Date and receipt of regulatory approvals, including the approval of the TSXV. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "scheduled", "estimates" "intends", "anticipates", "believes", or variations of such words and phrases, or statements that certain actions, events or results "can", "may", "could", "would", "should", "might" or "will", occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. These risks include, without limitation, risks related to failure to obtain regulatory approval for the Sidecar Placement, failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to metal price fluctuations, the market for lithium products, and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and undue reliance should not be placed on forward-looking statements.

SOURCE Neo Lithium Corp.

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