Discovery Energy Stock Price, News & Analysis

Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF)(FRA:Q3Q0) has announced plans to change its name to Discovery Energy Metals Corp., reflecting an expanded focus beyond lithium to include other critical minerals. The name change is scheduled to take effect on April 1, 2025.

Following the change, the company's shares will trade under the new symbol DEMC on the Canadian Securities Exchange (CSE), while maintaining its current symbols DCLIF on OTC and Q3Q0 on Frankfurt Stock Exchange. The new CUSIP will be 25472R106 and ISIN CA25472R1064.

Shareholders will not need to exchange their existing share certificates, and the name change will not affect the company's share structure or shareholder rights. The change remains subject to regulatory approvals, including final CSE approval.

Discovery Lithium Inc. (DCLIF) has announced results from its 2024 Fall exploration program in the Eeyou Istchee James Bay region. The company identified promising LCT pegmatite signatures on its Bruce Lake and Cirrus East properties, with fifteen samples showing favorable K/Rb ratios below 100 and Ta2O5 values up to 82 ppm on Cirrus East.

At Bruce Lake, adjacent to Q2 Metals' Mia Lithium project, three pegmatite dykes up to three meters wide were discovered, containing quartz, feldspar, garnet, and muscovite. The Cirrus East Project, located near Finn Resources' White Bear spodumene-bearing pegmatite, yielded 24 pegmatite samples, with six showing significant indicators of LCT mineralization.

Additional discoveries include orogenic gold mineralization in quartz veins on the Mantle and Opus properties, with samples returning up to 0.66 g/t gold, and a volcanic massive sulfide signature on the Mantle Property containing 0.56% Zinc. The company has completed airborne magnetic surveys and digital elevation modeling to support future exploration targeting.

Discovery Lithium has announced a non-brokered private placement offering of up to 10 million units at $0.10 per unit, aiming to raise gross proceeds of up to $1 million. Each unit consists of one common share and one transferable share purchase warrant, exercisable at $0.15 per share for 24 months from issuance. The proceeds will be used for general working capital and property exploration. The offering is subject to regulatory approvals and includes a four-month statutory hold period for issued securities.

Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF) has completed its non-brokered private placement, raising $550,014.79 through the issuance of 10,000,249 units at $0.055 per unit. Each unit includes one common share and one warrant, exercisable at $0.10 per share for 24 months. The proceeds will fund property exploration and working capital. The company also announced board changes, with Nate Schmidt, who has 12 years of exploration experience including lithium projects in James Bay, joining as director, while Jaap Verbaas has resigned from the board.

Discovery Lithium (CSE:DCLI)(OTCQB:DCLIF) announces a non-brokered private placement offering of up to 10,000,000 units at $0.055 per unit, aiming to raise gross proceeds of up to $550,000. Each unit includes one common share and one warrant, exercisable at $0.10 per share within 24 months. The company will cancel its previously announced August 28, 2024 offering. Proceeds will fund working capital and property exploration. The offering requires regulatory approvals and includes a four-month statutory hold period. Finder's fees may apply.

Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF) has closed its acquisition of the Eagle Lake and Whitefish Lake mining claims in Northwestern Ontario. The acquisition includes 2,923 mineral claims covering approximately 61,093 hectares (~150,964 acres), located about 350 km northwest of Thunder Bay. As per the sale agreement with Zimtu Capital Corp., Discovery Lithium acquired a 100% interest in the claims for 2,000,000 common shares issued upon closing and a cash payment of $432,778.50 to be paid within 180 days. The company also granted a 1% net smelter returns royalty to the vendor upon achieving commercial production and assumed certain third-party payment obligations related to the claims.

Discovery Lithium Inc. (CSE:DCLI, OTCQB:DCLIF) has announced a non-brokered private placement to raise up to $1,350,000. The company plans to issue up to 18,000,000 units at $0.075 per unit. Each unit consists of one common share and one warrant, exercisable at $0.10 per share for 24 months. This offering replaces the previously announced July 19, 2024 offering. Proceeds will be used for general corporate purposes and working capital. The closing is subject to regulatory approvals, and securities issued will have a four-month hold period. Finder's fees may be paid in connection with the offering.

Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF) has entered into a definitive agreement to acquire the Sakami and Radisson East Lithium Properties in Quebec's James Bay lithium district. The properties cover an 89.7km2 area with potential for lithium exploration, centered around Archean-aged Guyer greenstone structures. Key points:

1. The Sakami Property has ~37km of under-explored strike length, while Radisson East has ~15km.
2. The acquisition involves 2,000,000 common shares issued to the vendor over 12 months.
3. A 2% net smelter returns royalty will be granted upon commercial production.
4. The deal is subject to CSE acceptance, with shares having a four-month hold period.

CEO Mike Hodge states this acquisition enhances their exposure to important greenstone structures for lithium exploration in Quebec.

Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF) has announced a non-brokered private placement to raise up to $1,000,000. The company plans to issue up to 10,000,000 units at $0.10 per unit. Each unit consists of one common share and one share purchase warrant, exercisable at $0.15 per share for 24 months. The company may increase the offering by up to 25% based on market conditions and demand. Proceeds will be used for general corporate purposes and working capital. This offering replaces the previously announced May 24, 2024 offering. The closing is subject to regulatory approvals, and securities issued will have a four-month hold period.