Petrolympic Ltd. announced the presence of several white pegmatite dykes on the Basserode Property in the Decelles Reservoir Area. The Property is located approximately 30 kilometers southeast of the town of Rouyn-Noranda and south of national highway 117. The two claim blocks consist of 109 and 14 mining claims each, covering respectively 15,533.6 acres (6,286.24 hectares) and 1,993.1 acres (806.59 hectares), easily accessible via local logging roads.

The Decelles Reservoir Area of Abitibi is located south of the Larder-Lake-Cadillac Deformation Zone. The general area is underlain by Pontiac sediments which are intruded by a variety of differentiated intrusive suites. It is prolific for its hard rock lithium endowment, hosting numerous fertile pegmatite dykes and was the focus of a recent staking frenzy (Sayona, Vision Lithium, Winsome Resources, Brunswick Exploration, Lithech Resources and others).

Lithium was one of the best performing metals in 2021-2022 and demand and price are expected to remain strong. The strategic location and the size of the Property offer tremendous upside potential for discoveries. The claims cover known pegmatite intrusions which are the host rock to spodumene, the most common and commercially valuable hard rock ore of lithium.

While very little exploration work was completed in the past, its recent field visits confirmed that the potential for lithium-rich spodumene pegmatites is excellent. Several clusters of large, white pegmatite dyke intrusions were observed on the Property, which are highly favourable for the presence of Lithium-Cesium-Tantalum (LCT). Grab samples were previously collected nearby on Vision Lithium property, revealing high values of 2.67% and 7.34% Li20 and significant drillhole intersections of 1.74% Li20 over 1.90 m in hole CAD-22-07 and 1.00% Li20 over 6,40 m in hole CAD-22-13.

Channel samples intersected 2.17% Li20 over 5,50 m. The crews are at work presently, collecting follow up site photos and samples which are sent to ALS-Global Val-d'Or Laboratory. Assays are pending and results will be announced as soon as available. The Company also plans to complete detailed Heliborne High-Resolution Magnetic and Lidar Hyperspectral remote sensing surveys followed by fieldworks (prospecting, mapping and sampling, outcrop stripping, whole rock geochemistry, diamond drilling and bulk sampling if required).