Lithium Royalty Corp. reported that Winsome Resources Limited announced the maiden resource for its marquee 100% owned Adina lithium project in Quebec, Canada. Winsome announced a maiden inferred mineral resource of 59 million tonnes at 1.12% lithium oxide (Li2O) content, using a 0.6% cut-off grade.

This is a substantial discovery and catapults the resource to the fifth largest lithium deposit in Quebec by tonnes. The resource is also a significant milestone for Winsome and for the royalty positions that Lithium Royalty Corp. ("LRC") owns over the Adina Project, which include a 4.0% gross overriding revenue royalty (GOR) and a 2.0% net smelter return (NSR) on certain claims at the Adina Project.

"Lithium Royalty Corp.' was an early supporter of Winsome after its successful spin off from MetalsTech Limited in 2021. The resource at the Adina Project is based on 27,625 meters of drilling and assays from 93 drillholes.

The resource incorporates a strike length of 1.34km that remains open to the east and west along strike up-dip to the north, and at depth. Drilling has intersected mineralisation to a depth of 300m below surface. Upside Potential Through Further Mineral Resource Expansion - Winsome is well funded (cash balance of AUD 60 million as of December 11, 2023) as it pursues over 50,000m of infill and step out drilling in 2024 at Adina.

Winsome has five drill rigs on site, with over 25,000m of additional assays expected to be received to update the mineral resource in the first half of 2024. Winsome has defined a total strike length of 3.1km of lithium mineralization at the Adina Project, suggesting upside potential from the current resource zone which incorporates a strike length of1.34km. Winsome plans to include the additional assays into an updated resource in the first half of 2022, which will underpin a planned pre-feasibility study later in 2024 to continue to advance the project towards production.

Meaningfully Positive Implications for LRC - Winsome's mineral resource announcement underscores the benefits of LRC's strategy of targeting assets that are high grade, low cost, with low levels of technical complexity. This announcement exemplifies LRC's ability to partner and fund lithium companies across a variety of exploration and developmental stages for the benefit of all stakeholders.