THUNDER
BAY, ON, Oct. 12, 2023 /PRNewswire/ - Consistent
with its strategic objective to build Ontario's first vertically integrated lithium
supply chain serving the North American EV battery
market, Avalon Advanced Materials Inc. (TSX: AVL)
(OTCQB: AVLNF) ("Avalon" or the "Company") today hosted the Hon.
François-Philippe Champagne,
Minister of Innovation, Science and Industry, the Hon. Patty Hajdu, Minister of Indigenous Services and
FedNor and other officials for a private tour of the Company's
planned lithium processing site in Thunder Bay, ON.
Visit Highlights:
- The ministers were joined by Marcus Powlowski, MP for
Thunder Bay-Rainy River.
- The delegation toured Avalon's 383-acre industrial property on
Strathcona Avenue that features major transportation infrastructure
including, road, rail and deep-water port access.
- The Avalon team provided the delegation with details of its
burgeoning project plan for an Industrial Park concept that
includes Ontario's first lithium
processing facility, an Innovation, Technology and R&D Hub as
well as lithium battery recycling capabilities, all of which will
help catalyze Ontario's economy,
generate long-term job growth and deploy sustainable innovative
process technology.
"We are extremely pleased to host the ministers and other
dignitaries to showcase how far we've come in actualizing our
vision to help decarbonize the economy and shift Canada to cleaner sources of energy—and
underscore that we must continue to move quickly in order to secure
Canada's leading position in the
global race to net-zero," Zeeshan
Syed, President of Avalon, said.
"Avalon is developing the province's first domestic supply chain
that will link the considerable lithium deposits of Ontario's north to an expanding EV battery
manufacturing base in the south, which at present lacks a stable,
regional supply of this strategically vital resource."
Significant investment has been made in rapidly expanding the
downstream capacity of Ontario and
North America's EV battery
manufacturing base. A proportionate level of financing is now
required to develop a secure, fully on-shored supply of lithium raw
material to manufacturers. Avalon's core strategic objective is to
build the midstream lithium processing solution in Thunder Bay that bridges the lithium resources
of Northwestern Ontario with EV
battery manufacturing in the south.
"As proud Canadians, our vision is that lithium should be mined
in Ontario, refined in
Ontario, and consumed in
Ontario," added Jim Jaques, Avalon Chief Administrative officer.
"On a North American level, and from a decarbonisation perspective,
a lower carbon domestic supply source is paramount. We intend to
generate long-term job growth and economic benefits for the region
and province, both directly through our own commercial activities,
and indirectly by attracting the capital necessary to commercialize
other regional lithium projects."
Avalon Supply Chain Overview
- Over 500 direct jobs are expected to be created in Thunder Bay and Kenora, ON. Through Avalon's upstream and
midstream commercial activities.
- The Avalon processing facility in Thunder Bay will operate as a regional hub,
helping generate associated investment flow across Ontario.
- Thunder Bay is ideally
positioned as the geographic bridge between the lithium resources
of Ontario's northwest and the EV
battery and EV battery manufacturing in the south.
- Avalon's Industrial Park in Thunder
Bay will also host an Innovation, Technology and R&D Hub
in collaboration with local and regional educational institutions
(Lakehead University and Confederation
College)
Innovative, Sustainable Processing
Avalon is diligently working with leading international partners
to test and co-create novel commercial production processes that
will help accentuate Canada's
environmental leadership. Through the R&D efforts undertaken by
Avalon and partners, the proprietary lithium hydroxide process is
vastly less pollutive than conventional acid roasting conversion
methodologies. The process operates in an alkaline state and
utilizes a pressure leaching process which is unique for lithium
conversion, allowing for the elimination of sulfuric acid use, and
therefore no production of sodium sulphate as a
biproduct. Instead, a substance called Analcime—an inert solid
aluminium silicate—is produced, as well as calcium
carbonate. Both substances have use in industrial building
applications and industries. The method also reduces overall
air emissions compared to conventional hydroxide production.
In addition, it is expected to be a safer process for the
operating personnel, the environment and community in general
compared to the traditional acid roasting technology employed in
jurisdictions with less stringent commitments to environmental
stewardship compared to North
America.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian mineral development
company focused on vertically integrating the Ontario lithium supply chain. The Company,
through its joint venture with Sibelco NV, is currently developing
its Separation Rapids lithium deposit near Kenora, ON, while also continuing to advance
the Lilypad and Snowbank lithium projects located near Fort Hope, ON. Avalon is also
working to develop its Nechalacho rare earths and zirconium project
located in the Northwest
Territories. This deposit contains critical minerals for use
in advanced technologies in the communications and defense
industries among other sectors.
In addition to these upstream activities, Avalon is executing on
a key initiative to develop Ontario's first midstream lithium hydroxide
processing facility in Thunder Bay,
ON, a vital link bridging the lithium resources of the north
with downstream EV battery manufacturing customers and markets in
the south. Social responsibility and environmental stewardship are
corporate cornerstones. Avalon is listed on the TSX: AVL and OTCQB:
AVLNF
For more information and media inquiries, Zeeshan Syed, President of Avalon, is available
for comment at (647) 300-4706 or
IR@AvalonAM.com.
Forward-Looking Information
This presentation contains "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
information with respect to the development of the Company's
material lithium projects, including the construction of the
Company's lithium processing facility', expected capital
expenditures, operations outlook, expected benefits from the
facility the transition to a green economy, job creation,
successful development of a lithium supply chain, governmental
support, sustainable processing practices, environmental benefits,
, requirements for additional capital, the Company's capital
allocation;, and government regulation of mining operations.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "add" or "additional",
"advancing", "anticipates" or "does not anticipate", "appears",
"believes", "can be", "conceptual", "confidence", "continue",
"convert" or "conversion", "deliver", "demonstrating", "estimates",
"encouraging", "expand" or "expanding" or "expansion", "expect" or
"expectations", "forecasts", "forward", "goal", "improves",
"increase", "intends", "justification", "plans", "potential" or
"potentially", "promise", "prospective", "prioritize", "reflects",
"robust", "scheduled", "suggesting", "support", "top-tier",
"updating", "upside", "will be" or "will consider", "work towards",
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might", or
"will be taken", "occur", or "be achieved".
Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied
by such forward-looking information, including risks associated
with mineral exploration and development operations such as:
environmental hazards and economic factors as they affect the cost
and success of the Company's capital expenditures, the ability of
the Company to obtain required permits and approvals, the ability
of the Company to obtain financing, uncertainty in the estimation
of mineral resources, uncertainty with respect to the ability to
successfully construct and develop the Company's lithium processing
facility, the price of lithium, no operating history, no operating
revenue and negative cash flow, land title risk, the market price
of the Company's securities, the economic feasibility of the
Company's mineral resources and the Company's commercial viability,
inflation and uncertain global economic conditions, uncertain
geo-political shifts and risks, successful collaboration with
indigenous communities, future pandemics and other health crises,
dependence on management and other highly skilled personnel, title
to the Company's mineral properties, the ongoing war in
Ukraine, extensive government and
environmental regulation, reliance on artificial intelligence
technology to influence mining operations, volatility in the
financial markets, uninsured risks, climate change, threat of legal
proceedings, as well as those risk factors discussed or referred to
in the annual information form of the Company dated November 28, 2022 (the "AIF") under the heading
"Description of the Business – Risk Factors". Forward-looking
information is based on the reasonable assumptions, estimates,
analysis and opinions of management made in light of its experience
and perception of trends, current conditions and expected
developments, as well as other factors that management believes to
be relevant and reasonable in the circumstances at the date that
such statements are made, but which may prove to be incorrect.
Although the Company believes that the assumptions and expectations
reflected in such forward-looking information are reasonable, undue
reliance should not be placed on forward-looking information
because the Company can give no assurance that such expectations
will prove to be correct. In addition to other factors and
assumptions identified in the AIF, assumptions have been made
regarding, among other things: management of certain of the
Company's assets by other companies or joint venture partners, the
Company's ability to carry on its exploration and development
activities without undue delays or unbudgeted costs, the ability of
the Company to obtain sufficient qualified personnel, equipment and
services in a timely and cost-effective manner, the ability of the
Company to operate in a safe, efficient and effective manner, the
ability of the Company to obtain all necessary financing on
acceptable terms and when needed, the accuracy of the Company's
resource estimates and geological, operational and price
assumptions on which these are based and the continuance of the
regulatory framework regarding environmental manners. Readers are
cautioned that the foregoing list is not exhaustive of all factors
and assumptions that may have been used. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
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SOURCE Avalon Advanced Materials Inc.