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    ORGN   CA68622Y1007

ORIGEN RESOURCES INC.

(ORGN)
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Origen Acquires Additional Lithium Claims in Newfoundland

04/29/2021 | 09:05am EDT

Vancouver, British Columbia--(Newsfile Corp. - April 29, 2021) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VX) (the "Company" or "Origen") is pleased to announce that it has acquired two additional claim blocks covering 4,600 hectares within the Newfoundland Lithium Belt. This brings the Company's total holdings to over 33,000 hectares in this newly identified and highly prospective lithium corridor.

These new claims contain the following key characteristics as identified in the Company's earlier acquisitions that are indicative of lithium rich pegmatites:

  • Similar tectonic setting to Kings Mountain and lithium pegmatite occurrences in Ireland;
  • Age of the associated granite intrusive;
  • Areas known for pegmatite occurrences;
  • Highly favorable geochemical pathfinders;
  • Prospective areas easily accessible and close to infrastructure.

"As the world advances towards clean energy alternatives, we are thrilled to be the first to step into this newly discovered lithium region. With the advantage of acquiring what we feel is the most promising ground in the region, coupled with Coast Mountain Group ("CMG"), a world-class leading technical team, and Ganfeng Lithium as a shareholder, we are poised for a very exciting year," states Company President Blake Morgan.

Explorations Plans

The Company intends on mobilizing crews into the region within the next few weeks to commence mapping, prospecting and geochemical sampling over its new holdings. The immediate goal is to further define our target areas in this new prospective lithium belt by applying exploration techniques developed over the last two decades on the Avalonia (Leinster) pegmatite belt in Ireland. In addition to bringing priority targets to drill readiness, the Company will apply prospecting and geochemical methods between existing targets and extending along the pegmatite field. The Company will apply experience from Ireland and North America in district-scale pegmatite zoning to focus these efforts.

About Newfoundland Lithium Belt

The Newfoundland Lithium Belt exhibits all the characteristics of a major lithium rich corridor as observed in Ireland and the Carolinas. There are key indicative signs that point to specific target areas with high expectations for the discovery of lithium rich pegmatites. Numerous occurrences of pegmatites have been observed that exhibit highly-favorable lithium-cesium-tantalum ("LCT") geochemical signatures. Mapping of the geochemical pathfinders for lithium has revealed distinct vectors that have guided the Company to focus in on the more prospective areas and acquire a commanding land position in this new belt.

These geochemical pathfinders, on a regional scale, reveal a distinct corridor that transects Newfoundland and corresponds to the tectonic suture zone hosting the world-class Carolina Tin-Spodumene Belt and the lithium pegmatite occurrences in Ireland that have received significant attention in recent years. In addition, the age of the associated parent granites observed in Newfoundland coincides with the 'sweet spot' occurrence of highly favorable lithium rich pegmatites.

John Harrop, P Geo., a Qualified Person as that term is defined in NI 43-101, has prepared, supervised the preparation, or approved the scientific and technical disclosure in the news release. Mr. Harrop is employed by Coast Mountain Geological Ltd. He is not independent of the Company as defined in NI43-101.

About Origen

Origen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and lithium properties. The Company currently holds a property portfolio of four 100% owned precious and base metal projects in southern British Columbia, a 100% interest in the 26,771 ha LGM project and an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden Triangle of British Columbia, a 100% interest in the Middle Ridge gold project and a 100% interest in 12 lithium prospects in Newfoundland.

On behalf of Origen,

Blake Morgan

President

For further information, please contact Blake Morgan, President at 236-878-4938 or Gary Schellenberg, CEO at 604-681-0221.

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

Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82215


ę Newsfilecorp 2021
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Financials
Sales 2021 - - -
Net income 2021 -1,33 M -1,06 M -1,06 M
Net cash 2021 2,03 M 1,62 M 1,62 M
P/E ratio 2021 -3,17x
Yield 2021 -
Capitalization 7,81 M 6,22 M 6,24 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 57,4%
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Managers and Directors
Gary Schellenberg Chief Executive Officer & Director
Blake Morgan President & Director
Elizabeth Richards Chief Financial Officer
James William Mustard Independent Director
Michael Sieb Director
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