SPOD LITHIUM CORP. provided shareholders with an exploration update on its MegaLi project located approximately fifty (50) kilometres south-southwest of the 2779 MW LG4 hydropower facility and 16 km from all-weather road access, JamesBay. The property consists of 78 mining claims covering a total area of 3,996.67 hectares (40 square kilometers) and is accessible by helicopter operating from a camp located along the hydropower reservoir.

Block ?C? pegmatite discovery: During September?s work program, the exploration team identified multiple outcropping pegmatites and boulders over the three (3) blocks (B,C,F) during 18 days of exploration work in the field. A significant discovery was made on Block ?C? where multiple large pegmatite intrusions follow the north-east regional structural trend. Individual pegmatite ridges can be followed for about 1km along strike.

Peripheric exploration and mapping of the geology, indicated that potential thickness of these intrusions can be in a 10 to 50 metres range. The distribution of outcrops suggests a 500-metre-wide swarm composed of stacked intrusions. Host rocks of the pegmatite observed are composed mainly of amphibolite, although described as a tonalite on the MERN website.

Pegmatites identified show variable concentrations of potassic feldspar, albitic plagioclase, quartz and muscovite as main components. Locally, tourmaline (black and dark blue) and garnet appear as accessory phases. The crystallization texture can be locally very coarse grain when compared with average pegmatite with individual crystals reaching locally 20 cm.

Preliminary observations indicate common evidence of different crystallization texture corresponding to different magmatic episodes. During this first scouting phase, 111 samples were taken for assaying including 79 samples originating from Block C. Prospecting method: Rock chip fragments are collected from bedrock surface in areas that enable works. The mineralogical composition of fragments is described.

A portable XRF is used on a routine basis to detect the presence of an excess of Rubidium. This element is used to identify the presence of LCT pegmatites (Lithium-Cesium, Tantalum), which is the deposit type for spodumene bearing pegmatite, as largely recognized, and documented in the James Bay area. Based on scientific literature, the correlation between rubidium and lithium is generally accepted for exploration geochemistry purpose.

The Company thinks that by promoting this approach, the identification of favorable sectors for lithium mineralization can be identified using the Rubidium enrichment. Source: Cerny P., Meintzer R.E., 1988: Fertile granites in the Archean and Proterozoic fields of rare-element pegmatites: crustal environment, geochemistry and petrogenetic relationships in Recent advances in the Geology of Granite-Related Mineral Deposits, Proceedings of the CIM Conference on Granite-Related Mineral Deposits, Sept 1985, Eds Taylor R.P., Strong D.F. This strategic approach aims at compensating for the difficulty of sampling large and representative areas of pegmatites and the often-discreet characteristic of spodumene. During a prospecting program, the portable XRF is used to discriminate pegmatites whose emplacement process was more favorable to lithium enrichment and spodumene crystallization.

The lithium pegmatites at Corvette commonly contain elevated levels of Rubidium (Rb) and Cesium (Cs) compared to less differentiated granites, confirming their strongly differentiated signature that is typically for LCT pegmatites. Whole rock Rubidium contents are commonly 1000 to 4000 ppm Rb (ref. NI43-101 Technical Report Mineral Resource Estimate for the CV5 Pegmatite, Corvette Property p.51).

Rubidium and potassium measurement with a portable XRF instrument has to be considered as geochemical indicators used in routinely in the course of prospecting work to orient and prioritize sampling sectors. Also, the presence of Rb in sampled rock is by anyway correlated unless a proper assaying method is performed. The representation of prospecting data illustrates favourability sectors for the presence of a lithium enrichment.

Patriot Battery Metals: The Company highlights that September 8th CV5 mineral resource estimate (MRE) has firmly established it as the largest lithium pegmatite mineral resource in the Americas and eighth largest globally containing a maiden mineral resource estimate of 109.2 million tonnes at 1.42% Li2O. Moreover, an all-weather exploration access road is under construction, extending from the all-weather Trans-Taiga Road to CV5, and will facilitate upcoming exploration programs. The road is anticipated to be operational for November 2023 and will stop around 3km from the MegaLi project.