Imagine Lithium Expands Strategic Land Package at Jackpot Project by 45%; Grants Options

Rhea-AI Summary

Imagine Lithium (OTCQB: ARXRF) expanded its Jackpot Lithium Project land package by 45%, adding the 8,449 ha 'SPOD Lithium Option' to reach 27,597 ha in the Georgia Lake Pegmatite Field (effective Dec 5, 2025).

The 18-claim addition was purchased for CAD$30,000 and carries a 2% NSR held by Jadeite Capital. Imagine cites its NI 43-101 Mineral Resource: Indicated 3.1 Mt @ 0.85% Li2O (26,200 t contained) and Inferred 5.3 Mt @ 0.91% Li2O (49,500 t contained), with an MRE effective date of Sept 3, 2024.

Metallurgical test work reported an 81.5% recovery producing a 6.0% Li2O spodumene concentrate. The company also granted 7,200,000 stock options at $0.05 exercisable for five years.

Positive

• Land package expanded +45% to 27,597 ha
• Indicated resource 3.1 Mt @ 0.85% Li2O (26,200 t contained)
• Inferred resource 5.3 Mt @ 0.91% Li2O (49,500 t contained)
• Metallurgy 81.5% recovery producing 6.0% Li2O spodumene concentrate
• Strategic continuity contiguous position toward Nama Creek deposit

Negative

• 2% NSR applies to the added SPOD Option claims
• Purchase price for 18 claims was CAD$30,000 (cash component only)
• MRE effective date is Sept 3, 2024 (no updated resource published with this acquisition)

Vancouver, British Columbia--(Newsfile Corp. - December 10, 2025) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce a strategic land acquisition in the prolific Georgia Lake Pegmatite Field (GLPF), increasing its overall prolific exploration area by 45% at its 100%-owned Jackpot Lithium Project, located near Thunder Bay, Ontario, Canada. The addition of the 'SPOD Lithium Option' of 8,449 ha brings the total land package held by Imagine to a total of 27,597 ha of prospective geology in the GLPF.

The addition of the 'SPOD Option Claims' creates a continuous land position between the NI 43-101 compliant Jackpot deposit and Rock Tech Lithium's Nama Creek deposit to the north, representing a strategic land acquisition that strengthens Imagine's exploration footprint moving forward (Figure 1).

Simone Suen, President of Imagine, stated: "We are pleased to announce the acquisition of a substantial land package for our Jackpot Project, consolidating significantly more prospective ground and positioning Imagine Lithium as the largest land holder in the Georgia Lake region. This expansion enhances synergies with Rock Tech Lithium's Nama Creek Project and strengthens Imagine's ability to advance our Mineral Resource inventory, currently at 3.1 Mt indicated and 5.3 Mt inferred (with grades of 0.85% and 0.91% Li2O, respectively). The outcome of the 2025 field season continue to refine our exploration model for the belt, underscoring the value of methodical exploration in identifying new deposits. Access to nearby infrastructure, ports, and a skilled workforce further supports the potential to bring Ontario's first lithium deposit into production."

Under the terms of the agreement, effective December 5, 2025, Imagine Lithium agrees to purchase 100% undivided right, title and interest in the North Nipigon Lithium Property from Spod Lithium Corp, hereby called the 'Spod Lithium Option' (Figure 1). Upon execution of the agreement, the 18 multi-cell mineral claims will be purchased for an aggregate cash payment of CAD$30,000. The claims are subject to a 2% net smelter royalty (NSR) which will be held by Jadeite Capital Ltd.

Figure 1. Jackpot Lithium Project map showing the Jackpot deposit, Nama Creek deposit and 'SPOD Lithium Option' boundary.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2962/277628_3940dd4004e64bec_001full.jpg

The addition of this strategic land package compliments future exploration plans and highlights the discovery potential for multiple open-pit, hard-rock lithium deposits in the Georgia Lake Pegmatite Field. The previously announced mineral resource estimate (see September 3, 2024 News Release) on the Jackpot Project outlines two conceptual pit shells – Jackpot and Casino Royale – both exhibiting good grade continuity and strong potential for resource expansion. The resources remain open along strike and to depth.

RESOURCE HIGHLIGHTS – NI 43-101 MINERAL RESOURCE ESTIMATE

• Indicated Resource: 3.1 Mt grading 0.85% Li₂O (26,200 t contained Li₂O)
• Inferred Resource: 5.3 Mt grading 0.91% Li₂O (49,500 t contained Li₂O)
  • Cut-off Grade: 0.30% Li₂O (pit-constrained)
  • Recovery: 81.5% Li₂O, based on SGS metallurgical testing
  • Bulk Density: 2.69 t/m³
  • Estimation Method: Inverse distance squared (ID²) on 2 × 2 × 2 m blocks
  • Effective Date: September 3, 2024; prepared by P&E Mining Consultants Inc.; technical report filed October 18, 2024.

METALLURGICAL TEST WORK

The early metallurgical results demonstrate that Jackpot mineralization can yield a high-grade spodumene concentrate suitable for the lithium battery supply chain.

• Metallurgical testing was conducted by SGS Lakefield (2022–2023) on a 200 kg composite sample grading 1.72% Li₂O and 0.29% Fe₂O₃.
• Heavy Liquid Separation (HLS) produced a 6.0% Li₂O spodumene concentrate with 81.5% Li₂O recovery, and a concentrate iron content of 0.76% Fe₂O₃, without magnetic separation.
• Additional optimization through dense media separation (DMS) and flotation is expected to further enhance recovery and concentrate grade.
• The Company adopted the 81.5% recovery figure within the MRE cut-off assumptions.

Grant of Options

Imagine further announces that it has granted 7,200,000 options to an officer and director of the company exercisable at $0.05 for a period of 5 years from the date of grant. The options have been granted in accordance with the Company's stock option plan.

Qualified Person

The technical content of this news release was reviewed and approved by Jason Arnold, P.Geo., an Independent Qualified Person as defined by the National Instrument 43-101.

About Imagine Lithium Inc.

Imagine is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located in the Georgia Lake area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by road from the Trans-Canada Highway (Hwy 11), and is in proximity to sources of power, railroads, and ports. The Jackpot Property consists of 297 mineral claims covering 18,800 hectares. The Property contains NI 43-101 compliant Mineral Resources of 3.1 Mt grading 0.85% Li₂O in the Indicated category and 5.3 Mt grading 0.91% Li₂O in the Inferred category, as well as a number of other known pegmatite showings.

ON BEHALF OF THE BOARD

"Simone Sze Man Suen"
Simone Sze Man Suen, President

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: +1-807-355-5405
Toll Free: 1-888-945-4770

Neither the 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.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277628

FAQ

What does Imagine Lithium's Dec 10, 2025 land expansion mean for ARXRF shareholders?

Imagine increased its Jackpot land package by 45% to 27,597 ha, potentially expanding exploration upside near the Jackpot and Nama Creek deposits.

How much did Imagine pay to add the SPOD Option claims to Jackpot (ARXRF)?

The company agreed to purchase the 18 SPOD Option claims for an aggregate cash payment of CAD$30,000.

What royalty burden applies to the newly acquired claims at Jackpot (ARXRF)?

The added SPOD Option claims are subject to a 2% net smelter royalty (NSR) held by Jadeite Capital.

What are the Jackpot Project mineral resources for Imagine Lithium (ARXRF)?

NI 43-101 resources (effective Sept 3, 2024): Indicated 3.1 Mt @ 0.85% Li2O and Inferred 5.3 Mt @ 0.91% Li2O.

What metallurgical results did Imagine report for Jackpot (ARXRF)?

SGS testing on a 200 kg composite produced a 6.0% Li2O spodumene concentrate with 81.5% recovery (HLS test).

How many stock options did Imagine grant on Dec 10, 2025 and at what price (ARXRF)?

Imagine granted 7,200,000 options to an officer/director at an exercise price of $0.05, exercisable for five years.