Ophir Gold Corp. provided an update on the Pilipas lithium project in James Bay Quebec. The Project is located proximal to existing hydroelectric power, all-season road infrastructure, and is situated in highly prospective greenstone terrain.

Following to the announced option agreement with Azimut Exploration Inc., the Company has identified numerous documented occurrences of pathfinder elements in historical sampling on Pilipas that indicate further potential for a fertile LCT geological setting. From historical literature, rock samples with anomalous concentrations of Ta (tantalum), Ce (cesium), Nb (niobium) and Sn (tin) geochemistry have been reported. Additionally, numerous tourmaline within white pegmatite dykes have been documented.

Collectively, the information is strongly suggestive of a fertile LCT environment. The geochemical findings are in addition to the encouraging LCT potential reported in the news release on December 11, 2023 and recapped below. Two district scale shears, and secondary structures with multiple large-scale folds with dilation along fold axis and in folds, have potential to host potential LCT pegmatites.

The SIGEOM database contains records of several pegmatite outcrops (SIGEOM code I1G), while hyperspectral and high-resolution satellite imagery suggests numerous large white pegmatite dykes that straddle the greenstone contact, and major fault zones. Pilipas is immediately adjacent to the newly discovered 175-metre long by 42-metre wide Ninaaskumuwin spodumene pegmatite immediately to the south. Management cautions that discoveries on adjacent properties may not necessarily be indicative to the presence of mineralization on the Pilipas Property.

The Company considers the Pilipas Property to host significant potential for spodumene pegmatites (LCT) due to its favorable greenstone geological setting, regional faulting, sheer zones and hinge fold, as well as anomalous Ta, Cs, Nb and Sn geochemistry and numerous observed tourmaline in described white pegmatites.