Test Results Highlights

  • Analyzed 85 samples contain up to 42% spodumene;
  • Sample grades range from 0.02% to 3.71% Li₂O and from 0.36% to 6.30% Fe₂O₃;
  • Spodumene is the only identified lithiferous mineral and the intercepted pegmatite is free of impurities, suggesting the potential for producing lithium concentrates suitable for manufacturing lithium carbonate and lithium hydroxide for batteries; and
  • Tests carried out demonstrated the feasibility of producing a Direct Shipping Ore ("DSO") concentrate grading 6.024% Li₂O₅ while recovering 76.66% of the lithium in 22.97% of the mass, through a single Dense Media Separation ("DMS") step applied to the coarsest crushed feed. This result is very promising and suggests a selective exploration and mining approach.

Elmer East Project

The Ninaaskumuwin lithium prospect is located on Fury’s 100% owned Elmer East project, which covers approximately 45,700 hectares. Ninaaskumuwin is easily accessible from the paved Billy Diamond highway, approximately 60 kilometres (km) north of the ‘km 381’ rest stop where accommodation, catering, fuel, and power are available. The discovery sits approximately 50 km north of Rio Tinto plc’s Galaxy Lithium project, acquired in March 2025 as part of the acquisition of Arcadium Lithium plc for US$6.7 billion. Technical and scientific information disclosed from neighbouring Galaxy project does not necessarily apply to the Elmer East project.