The PAK Lithium project in northwest Ontario contains what we understand to be North America’s highest grade lithium resource and is the second largest in North America by size. Frontier Lithium has identified two premium spodumene-bearing lithium deposits (PAK and Spark), located 2.3 kilometres apart. Exploration is continuing on the project through two other spodumene- bearing discoveries: the Bolt pegmatite (located between the PAK and Spark deposits), as well as the Pennock pegmatite (25 kilometres northwest of PAK deposit within the project claims). A Pre-Feasibility Study completed this year indicates this discovery supports a possible production mine. Currently, Frontier Lithium is building relationships with Indigenous communities and carrying out other work such as further exploration, baseline studies, site design, and environmental permitting that will contribute to a Definitive Feasibility Study and, potentially the construction and development of a production mine.

Lithium is relatively rare and is found in only few places in Canada. The lithium spodumene (the mineral that contains lithium) that was discovered at Pakeagama Lake is very high quality. It is the highest quality in North America, making it sufficient for use in electric vehicle batteries. Many lithium deposits are small and run in narrow bands making them uneconomical to extract. The lithium deposit size and grades found at Pakeagama Lake support the development of a possible production mine.

The project will require a total of 40 permits, including 27 different types of federal and provincial permits and approvals. Over the next 18 months we will be focused on a few key permits to support early works: Closure Plan (CP). This authorization by the Ministry of Mines will define how the mine site is to be rehabilitated post closure. Endangered Species Act (ESA) authorization is required prior to the project moving forward to protect identified species at risk. A Permit to Remove (PtR) by Ministry of Natural Resources and Forest is required prior to removing trees on the site.

The PAK Lithium project is in the proposal stage of development. The process of establishing a mine follows these steps: ​ Prospecting and Exploration Designing the Mine and Permitting Constructing the Mine Extracting the Ore Closure and Rehabilitation ​ At this point, Frontier Lithium is in the Planning to Mine stage. We anticipate mine construction beginning in 2025 with production initiated in 2027. However, there is no guarantee or assurance that a mine will be built now or at any time in the future.

During the Frontier’s 14 years in the area, it has focused its efforts on building relationships with the proximal First Nation communities of Deer Lake, North Spirit Lake, Sandy Lake, and Keewaywin. Frontier's representatives have provided project updates, discussed the project with chiefs and councils, and hosted tours and community engagement sessions. Frontier has exploration agreements in place that structure the relationship and the exchange of information and conveys benefits to the communities, such as offers of employment, and support for joint venture businesses. As we move into the phase of permitting and design of the mining operations, Indigenous participation will be crucial; we fully hope to involve communities in the design and development of the mine site and operations. In addition, Frontier Lithium believes it plays a key role in ensuring we along with the applicable government agencies meets the duty to consult with Aboriginal peoples under Section 35 of the Constitution Act, 1982.

The Berens River Mine operated from 1939 to 1948, mining for gold, silver, lead and zinc. At the time, mining or environmental laws to protect the environment did not exist. This meant communities and people in the area were negatively impacted. Today, Ontario and Canada have laws to protect people, wildlife and the environment. These laws include Ontario’s Mining Act, Canada’s Fisheries Act and Species at Risk Act. Frontier Lithium must follow all these laws. To do so requires we invest in environmental studies that include water quality, fish wildlife and fish tissue analysis. In addition, Ontario’s Mining Act requires Frontier Lithium to provide: Mine rehabilitation and closure plans Financial assurance before advanced exploration and mining Proper clean-up of mine sites once mining is complete

When production is discontinued and the life of the mine is complete, rehabilitation will return the site to a natural functioning habitat. As part of this reclamation: ​ All buildings will be taken down and removed from site All mining equipment and infrastructure will be removed Concrete foundations will be made flat and reshaped. Tailings Management Facility will be revegetated and monitored. Mine Rock Pile will be reshaped for long term slope stability and vegetated where possible. Roads will be scarified, which means broken up and the surface area layer of the soil loosened to increase the possibility that vegetation will grow. Open pit mine will be allowed to flood with water and water will be treated as long as required.

Sustainable development of the PAK Lithium Project is our primary focus. This project also has the potential to benefit Indigenous communities in many ways, including but not limited to, long term employment opportunities located close to indigenous communities, support for joint venture projects with Indigenous owned companies, revenue from Impact Benefit Agreements, donations to communities, scholarships as well as the potential construction of an all-season road in the area.