ACME Lithium Inc. (the Company, or ACME) provided an update at its 100% owned Shatford and Birse Lake lithium projects in southeastern Manitoba, Canada. ACME's Shatford-Birse claim area is contiguous to the south of Sinomine's world-class Tanco Mine property, a Lithium, Cesium and Tantalum producer (LCTs) since 1969. ACME has received updated results from the 3D modelling of Dias Airborne's QMAGT data.

The Company designed its initial 2023 drill program using the basic responses in the vertical magnetic gradient (Bzz). Now, modelling confirms that initial targeting and delineates additional targets. In mid-2022, the Company contracted Dias Airborne coverage of its SE Manitoba properties with the QMAGT system, the most advanced airborne magnetic system currently commercially available.

The QMAGT survey collected 1,991 line-km of airborne full tensor magnetic gradiometer (FTMG) data with a sensor flown at a 65 m line spacing. Mira Geoscience Magnetic Vector Inversion Modelling Mira Geoscience Limited (Mira) performed modelling of the FTMG data. After a preliminary interpretation, Mira performed a computationally intense Magnetic Vector Inversion (MVI) integrated with Company and regional geological data.

Low contrast between the magnetic response of the pegmatites and their typical host lithologies limits the use of conventional magnetic surveys. However, the sensitivity of Dias Airborne's QMAGT system and Mira Geoscience's MVI modelling significantly alters this convention. Highlights of the Mira modelling: The extensive glacial until cover is transparent to the QMAGT magnetic survey.

The detailed FTMG data detects magnetite iron formation across the entire survey area and delineates the major G2 fold structures that envelope the Birse Lake pluton. Fine details in the vertical gradient (Bzz) adjacent to the Shatford Lake - Winnipeg River shear zone detect dilatant jogs and fold structures favourable for pegmatite intrusion. Magnetic low gaps in the high magnetic response of basalt and magnetite iron formation delineate probable pegmatite intrusion.

A NE to ENE fracture set is evident across the entire span of the survey area, as detected in the Vertical Derivative (Bzz) in. Vertical Derivative (Bzz) indicates that the path of the prolific Bernic Lake Shear Zone is more southerly than mapped in previous regional studies and more proximal to the Company's property.