#Canada #Montreal #Winsome Resources #Adina Lithium #Renard Mine

Major Advancement in Lithium Exploration

In a significant boost for lithium exploration, Winsome Resources (ASX: WR1) has announced the successful raising of approximately A$7.8 million through a strategic institutional share placement. This funding, achieved at an issue price of A$0.36 per share, aims to propel the development of Winsome's flagship Adina Lithium Project—one of the most promising lithium deposits in North America.

Strong Investor Confidence

The strong commitment from both existing shareholders and new investors has underscored the confidence in Winsome's strategy to integrate into the growing North American electric vehicle (EV) supply chain. The Company plans to initiate a share purchase plan (SPP) for existing shareholders, with an additional target of up to A$2.5 million, set to operate under the same terms as the placement.

Strategic Use of Funds

The capital raised will facilitate several pivotal areas:
1. Extension of the Renard Option to August 31, 2025, at a cost of C$8.5 million.
2. Advancement of Adina Lithium Project studies to enhance its development.
3. Exploration of Carbon Dioxide Removal (CDR) opportunities, placing Winsome at the forefront of environmentally conscious mining initiatives.
4. General working capital to ensure the continuity of operations and further enhance the Company’s growth trajectory.

Chris Evans, Winsome’s Managing Director, expressed optimism stating, “The additional funds put Winsome in a strong financial position to advance the Adina Lithium Project.” This project boasts a significant lifespan with a NI 43-101 compliant mineral resource estimate, indicative of its long-term potential.

About the Adina Lithium Project

The Adina project is located in the Eeyou Istchee region of Quebec, Canada, and it is characterized by a robust mineral resource with a tonnage exceeding 60.5 million tonnes. The project is noted for its competitive operating costs and a strong prospect for growth in capacity and resource. It has a mineral richness with an indicated resource grade of 1.14% Li2O and an inferred grade of 1.17% Li2O, making it a tier-one asset in a low-risk mining jurisdiction.

Additionally, Winsome recently acquired exclusive options to potentially purchase the Renard Operation, which includes a well-established diamond mining facility with the necessary infrastructure for efficient operation, thus further solidifying its resource portfolio.

Transition Towards EV Supply Chain

Winsome Resources is affirming its commitment to becoming a key player in the lithium sector. Carl Caumartin, General Manager - Canada, emphasized, “The significant level of interest from high conviction investors highlights Winsome's vision and pathway towards integrating into the North American EV supply chain.”

As the demand for lithium continues to soar in alignment with the burgeoning electric vehicle market, Winsome is actively pursuing strategic partnerships and evaluating corporate opportunities to optimize operational costs and extend its competitive edge.

Conclusion

The recent funding marks an essential milestone for Winsome Resources, ensuring that the Adina Lithium Project not only progresses but also capitalizes on emerging market trends and the growing necessity for sustainable resources in the green energy landscape. As the Company moves forward, its strategic decisions and financial commitments set a solid foundation for future growth and success in the dynamic mining sector. Whether through advancing lithium production or exploring carbon solutions, Winsome is poised to make significant strides in the coming years.