Elko, Nevada--(Newsfile Corp. - December 17, 2024) - Lithium Corporation (OTCQB: LTUM) ("LTUM" or "the Company") is pleased to announce the Company's continued strategic investment in exploration has translated into new, recently staked antimony claims, further expanding its portfolio of critical mineral prospects. The claims, located in southeastern British Columbia, Canada, proximal to the US border, coincide with China's recent announcement banning exports of gallium, germanium, and antimony to the United States amid escalating geopolitical tensions.
Antimony is recognized by the US Department of the Interior as a critical mineral essential to US economic and national security. It is used in defense systems, renewable energy generation and storage, high-tech manufacturing, and numerous other applications. China is the world's largest producer of antimony, controlling nearly half of global production and three-quarters of its refining capacity. In 2023, the US relied on imports for over 80% of its antimony needs, with China the primary supplier. The balance was sourced through recycling.
The combination of growing demand and China's export restrictions has led to a significant surge in antimony prices. By mid-November 2024, prices had risen by 212% year-to-date. Industry experts anticipate elevated prices will persist, highlighting the West's vulnerability in relying on China for key minerals.
"With increasing demand, rising prices, and threats to supply chains, it is crucial to explore for and develop domestic North American sources of antimony and other critical minerals to ensure long-term stability and mitigate the risks associated with over-reliance on single-source suppliers," said Tom Lewis, President and CEO of Lithium Corporation.
Today's announcement marks the second time this year Lithium Corporation has expanded the Company's critical minerals portfolio with new prospects and new minerals. In early April, Lithium Corporation introduced the newly staked Las Pilas claim block prospective for hosting fluorspar mineralization. The Company's project portfolio now encompasses lithium, graphite, titanium/rare earth elements, fluorspar and antimony prospects. To learn more, please visit Lithium Corporation's Projects page: https://lithiumcorporation.com/projects/.
About Lithium Corporation
Lithium Corporation is a leading mineral exploration company dedicated to advancing the clean energy economy and supporting global electrification. As one of the few Project Generators in North America's critical minerals sector, the Company leverages its extensive exploration expertise to focus on energy metals with the goal of helping secure domestic North American critical mineral supply chains.
The Company's dual operational focus spans two world-class mining jurisdictions, with promising lithium prospects in Nevada, USA, and a diverse portfolio of titanium, rare earth elements, graphite, fluorspar, and antimony properties in British Columbia, Canada. Lithium Corporation is committed to driving a low-carbon future through strategic investments in energy metals exploration and related opportunities, such as renewable energy generation and energy storage solutions.
Contact
Tom Lewis, CEO
775-410-5287
info@lithiumcorporation.com
On behalf of the Board of Directors
"Tom Lewis"
Tom Lewis,
President & CEO
Website: www.lithiumcorporation.com
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Lithium Corporation (OTCQB: LTUM) 1031 Railroad St. Ste 102B Elko NV 89801 (775) 410-5287 www.lithiumcorporation.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233942
SOURCE: Lithium Corporation
