Refined Metals Corp. provided an update on the 2023 Exploration Program on its 100% Lac Simard NE Lithium Property. The 2023 work program is planned to be completed in two stages, with stage one work having been completed during the first half of 2023.

The intention of the stage one work was to access the areas of pegmatites located in islands within the western and northern part of the Property. As part of the stage one work, several pegmatites were identified in the field and were sampled. The stage one work program consisted of mapping, ground sampling of pegmatites and prospecting.

In addition, a part of the work program was conducted to verify previously reported areas of mineralization and to explore pegmatites and other areas of interest. Several field traverses were conducted by using snowmobiles, ATV or walking on foot. The Company intends to use the data collected from this program to plan additional exploration work later in 2023 during the stage two work program.

The results of the prior prospecting and sampling work undertaken on the Property in 2022 identified a few pegmatites with assays, which the Company attempted to verify through the phase one work program by Geomap Exploration Inc. Lithium values in the range of less than 15 ppm to 247 ppm, with five samples over 100 ppm lithium. Rubidium in the range of 29.3 ppm to 4,220 ppm, with 20 samples over 1,000 ppm, 14 samples over 2,000 ppm, and four samples over 3,000 ppm. Niobium from 2.5 ppm to 228 ppm, with 9 samples over 100 ppm Nb.

A total of ten rock chip samples from stage one of the 2023 work program were bagged and tagged using best practices and have been delivered to Activation Laboratories, Ancaster, Ontario for sample preparation and analysis using laboratories code Ultratrace 7 and sodium peroxide fusion (Na2O2).