CBLT Reports Results from Shatford Lake (Lithium)

Burlington, Ontario--(Newsfile Corp. - November 30, 2021) - CBLT Inc. (TSXV: CBLT) ("CBLT") is excited to report the results from its first sampling program at Shatford Lake, Manitoba in the Bird River Pegmatite Field.

Based in part on guidance from historical field notes and drill logs, CBLT's field team located and sampled several pegmatite outcrops during the 2021 field season. A total of 14 samples were collected. Results have now been returned.

"Our first round of exploration at Shatford Lake was a good one," said Peter M. Clausi, CBLT's CEO. "The results are consistent with what one would expect from LCT pegmatites in the Bird River Pegmatite Field, which means our geologic goals were achieved. We are eager for 2022 so we can get back in the field."

Several samples were elevated in rubidium (see table below) and some samples were also anomalous for cesium and tantalum. This geochemistry indicates the pegmatites in the area are LCT type (lithium-caesium-tantallum) and are highly prospective for further lithium exploration.

Sample IDLi2O%Rb2O%
142090.0080.32
142110.0250.29
142120.020.11
142130.0140.24
142140.0120.33
142150.0090.3
142170.010.33

 

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One sample, 14210, was inadvertently taken immediately adjacent to CBLT's Shatford Lake property. This sample returned 0.534% Li2O and 0.62% Rb2O. Though this sample was taken off CBLT's property it gives an indication of the presence of lithium-bearing LCT pegmatites in the area. The structure hosting this sample has been inferred to cross back onto CBLT's property, and will be followed and sampled in future exploration programs.

All the above samples were from pegmatites on the western side of Shatford Lake near where a structure has been mapped by CBLT. The field program will continue in 2022 with further sampling and mapping of as much of Shatford Lake as possible.

In addition to that data, part of the reason for CBLT's enthusiasm about Shatford Lake is its proximity to the Tanco Mine, which also hosts LCT pegmatites. It has been estimated that Tanco's lithium reserves are 7.3 million tonnes at 2.76% Li2O (GSWA Mining Bulletin No. 22, page 66). This is a historical third party estimate from 1991 and CBLT has no information as to the methodology used to calculate this estimate or whether it was carried out under the supervision of a Qualified Person, as that term is defined in NI43-101. Readers are cautioned not to rely upon this estimate.

The historical field notes referred to above also noted several other areas at Shatford Lake where pegmatites were observed, but CBLT was not able to visit these in 2021 due to extensive forest fires, the commandeering of helicopters by the province of Manitoba, and an early deep snowfall. Mapping and sampling are planned for these areas in the 2022 season.

To provide further technical support, CBLT is pleased to announce the appointment of Dr. Lesley Rose to its board of directors. Dr. Rose has over 10 years' experience working as a geologist in the exploration industry in northwestern Ontario. She has most recently been focused on gold exploration around the Hemlo camp as a Senior Geologist with Hemlo Explorers Inc. Dr. Rose has experience with QA/QC, data management, compositional analysis, technical report writing, academic research and university teaching.

QA/QC

Samples were analyzed by AGAT Labs in Mississauga, Ontario by sodium peroxide fusion with an ICP-OES finish. Jessica Daniel, P.Geo., supervised the field work and is the Qualified Person for this release.

CONTACT INFORMATION
Peter M. Clausi
CEO and Director
1 416 890 1232
pclausi@cbltinc.com
@ClausiPeter

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain statements that constitute forward-looking statements as they relate to CBLT and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "should", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct or will come to pass.

By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, CBLT will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, CBLT assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to; SARS-CoV-2; reliance on key personnel; the performance of the Ciscom Corp. leadership team; shareholder and regulatory approvals; First Nations and other local communities; jurisdictional risk; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; commodities pricing; environmental issues; forest fires and other natural phenomena; rising costs related to inflation; effect of market interest on price of securities; failing to identify an economically viable mineral deposit; and, potential dilution.

CBLT's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.

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