CBLT Completes Sampling at Shatford Lake (Lithium)

Burlington, Ontario--(Newsfile Corp. - August 17, 2022) - CBLT Inc. (TSXV: CBLT) ("CBLT") announces completion of the latest phase of its exploration at Shatford Lake. Shatford Lake is located in the Bird River Pegmatite Field, Manitoba, roughly 3 kilometres from the Tanco Mine. Shatford Lake's close proximity to the Tanco Mine and CBLT's assay results dated November 30, 2021 called for further exploration at Shatford.

"Our geologic goals for this phase of exploration were achieved," said Peter M. Clausi, CBLT's CEO. "Every trip to Shatford Lake increases our knowledge of the area. Now it's up to the assay lab to deliver results as quickly as possible."

Shatford Lake location and proximity to the Tanco Mine

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4750/134144_0000a6ae948c0b9d_002full.jpg

The Tanco Mine

The Tanco Mine is an LCT-type pegmatite, producing cesium and tantalum. Lithium, beryllium and rubidium have previously been produced. The Tanco pegmatite has dimensions of 820m by 1,600m and up to 100m thick, and over 100 minerals have been identified in it.

It was reported by The Northern Miner in April, 2022 that lithium production has resumed at the Tanco. The Northern Miner is a credible source of mining-related news; however, as the Tanco owner is a Chinese company, there is limited reliable public information available.

It was estimated in 1991 that Tanco had lithium reserves of 7.3 million tonnes at 2.76% Li2O (GSWA Mining Bulletin No. 22, page 66). This is a historical third-party estimate 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. CBLT references this to inform its knowledge of the area and to support its thesis for lithium exploration at Shatford Lake.

CBLT Exploration in 2022

CBLT recognizes the significance and importance of Sagkeeng First Nation's Traditional Land Rights in the area, and openly welcomes continued correspondence with the Sagkeeng Chief and Council and community for continued guidance.

From June to August 2022, CBLT carried out a mapping, sampling and prospecting program at its pegmatite fields located north of the Winnipeg River in Southeast Manitoba. The focus was on the area of Shatford Lake with known pegmatite occurrences.

The most recent visit was conducted August 13, 2022. The eastern extent of CBLT's Softrock1 claim was accessed, with a safe helicopter landing accomplished in wetland located just southeast of Softrock1. Additional landing spots on Softrock1 were confirmed with the helicopter service.

A promising pegmatite (the "Main Pegmatite") on the southeast shore of Shatford Lake was prospected, mapped and sampled. The Main Pegmatite contained beryl and trace columbite mineralization. Columbite mineralization is important as it is a key mineral containing significant elemental niobium and tantalum, and is a promising indicator of Lithium-Tantalum-Cesium (LCT) pegmatite potential.

2022 sample locations

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4750/134144_0000a6ae948c0b9d_003full.jpg

The Main Pegmatite contains megacrystic feldspar-quartz-biotite zonation parallel to exposed contacts and is at least 6 meters wide at one location on the shore (the pink line in the picture above). These zoned features commonly occur in evolved LCT pegmatite mineralization. Contacts illustrate sub-vertical to flatter (-35 degree) dip to the north, and has a minimal inferred strike length of approximately 100 meters. The Main Pegmatite is open to the east and west of the sampled locations. The samples are currently being prepared for shipment to an accredited analytical laboratory for comprehensive geochemical analyses for LCT mineralization.

CBLT intends to carry out additional work at the Main Pegmatite in upcoming visits to properly delineate its fullest possible strike length in surface exposure. As well, CBLT intends in future visits to prospect, map and sample numerous affiliated pegmatites noted near the Main Pegmatite.

Various other narrower pegmatite veins proximal to the Main Pegmatite were also sampled.

CBLT wishes to thank the Province of Manitoba's Agriculture and Resource Development and the University of Manitoba for geoscientific assistance procured from a Ph.D. level program graduate.

Jessica Daniel, P.Geo., a CBLT independent director, is overseeing the Shatford Lake programs and is the Qualified Person under NI43-101 for this press 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134144