Far Resources announces continued drilling success at its Zoro Lithium Project, Manitoba, with significant expansion of Dyke 8 mineralisation and discovery of new spodumene-bearing pegmatite dykes.

January 18, 2019, VANCOUVER, CANADA – Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) is pleased to announce that is has completed 16 diamond drill holes at its 100% owned Zoro Lithium Project near Snow Lake in mining friendly Manitoba, resulting in both new discoveries and expansion of known mineralisation.

This round of drilling, the company’s fifth successful campaign at Zoro, has resulted in the expansion of Dyke 8, a high-grade spodumene-bearing pegmatite dyke discovered last year by Far, and has led to the discovery of additional spodumene-bearing dykes and unique lithologies suspected of being lithium and caesium-enriched to the north and north west of the existing dyke swarm.

Three additional drill holes from the planned 21-hole program have also been completed for the collection of core samples for metallurgical testing. The remaining exploration holes will be drilled in January/February 2019.

Toby Mayo, President and CEO of Far, stated: “We continue to make great advances at Zoro. These new discoveries provide further assurances of the potential for scale at the project. Furthermore, with Dyke 8 open in all directions, we are in a strong position to build on our resource, adding to that currently defined on part of Dyke 1 last year.”

Figure 1 illustrates completed drill holes to date and outstanding holes planned for drilling in 2019. All assay results are pending.

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Significant Expansion of Dyke 8 Mineralisation

Hole FAR18-017 was the first to be completed during the fifth drill campaign. It targeted newly discovered Dyke 8 (DDHFAR18-34 and -35; February 2018) and intersected 13 metres of well-mineralised spodumene, extending the zone of lithium mineralisation to the east by approximately 30 metres.

Subsequent drill holes (FAR18-039, -040, -041 and -058) were drilled to define the geometry of Dyke 8: it currently has a strike length of at least 90 metres, a width varying between 5 and 15 metres, and extends vertically to a depth of more than 100 metres. Dyke 8 remains open in all directions and is potentially related to Dyke 3 by way of folding and/or faulting. Deformation, including tightly folded pegmatites, have been documented recently by Benn (2018a) in a 1:4000 scale mapping project and again by Benn (2018b) as part of an M.Sc. thesis study of the area. Dyke 8 and related drill holes are illustrated in Figure 2.

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Discovery of New Dykes

New spodumene-bearing pegmatite dykes were intersected by drill testing some of the 50+ Mobile Metal Ion anomalies defined by soil surveys on the Zoro lithium project. This is significant as it proves the potential to add significant tonnes through further drilling on these targets.

The new discoveries were intersected by five holes (Far18-043 to -047, inclusive) along a 1.5 km lithium-caesium anomaly developed within and adjacent to a prominent overburden-covered lineament (Figure 1). This anomaly was described in an earlier news release (October 2, 2018). By comparison, the existing mineralisation at Dyke 1 covers a strike length of approximately 400 metres.

Core samples have been submitted to Activation Laboratories to assess lithium and caesium contents in the quartz porphyry and pegmatite dykes.

Metallurgical Holes

Drill holes FAR16-07 (central Dyke 1), 017-012 (north Dyke 1) and 017-012R (south Dyke 1) were re-drilled in 2018 to acquire spodumene-mineralised pegmatite for metallurgical testing. Spodumene intercepts were cut with a saw leaving quarter core in the core box for future reference. Material representative of the hangingwall and footwall to the pegmatite intercept were also included with the samples. Metallurgical testing will be undertaken by SGS Mineral Services at their Lakefield facility.

Subsequent to the Christmas/New Year shutdown the drill will be mobilised to test the four remaining targets. These targets occur south and along trend from Dyke 1.

All drill core assays are currently pending.

Sampling, Preparation and Analysis

Core samples are being logged, cut, bagged and shipped from Far’s core logging and preparation facility in Snow Lake and shipped to Activation Laboratories (Ancaster, Ontario) for the analysis of lithium and a multi-element suite of elements referred to as UT-7. This method is based upon a sodium peroxide fusion which captures total amounts of lithium and related elements in the sample.

Options Issued

Pursuant to its Stock Option Plan, the company has granted incentive stock options to certain officers, employees and consultants to purchase up to an aggregate of 8,600,000 common shares in the capital stock of the company.

The options are exercisable at a price of $0.12 per share and will vest immediately. They expire on January 17, 2024.

About Far

Far Resources is a Canadian battery and technology minerals exploration and development company with exploration projects in Canada and the USA. More information on Far is available at www.farresources.com.

Qualified Person

The technical content of this news release has been reviewed and approved by Mark Fedikow P.Geo., a qualified person as defined under National Instrument 43-101.

References

Benn, D., Linnen, R.L. and Martins, T. 2018a: Geology and bedrock mapping of the Wekusko Lake pegmatite field (northeastern block), central Manitoba (part of NTS 63J13); in Report of Activities 2018, Manitoba Growth, Enterprise and Trade, Manitoba Geological Survey, p. 79–88.

Benn, D., Linnen, R.L. and Martins, T. 2018b: Bedrock geology of the Wekusko Lake pegmatite field (northeastern block), Central Manitoba (part of 63J13); Manitoba Growth, Enterprise and Trade, Manitoba Geological Survey, Preliminary Map PMAP 2018-2, (1:4000).

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ON BEHALF OF THE BOARD OF DIRECTORS OF

FAR RESOURCES LTD.

Toby Mayo, President and CEO

Information Contact

Terri Anne Welyki
1-833-327-7377
corpcom@farresources.com

 

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

Forward Looking Statements

This news release contains forward-looking statements, which relate to future events or future performance (including our planned exploration for the Winston Project and the Zoro Lithium Property) 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. Readers 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.  All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Far Resources Provides Results of Annual General Meeting of 
 Shareholders held on December 19, 2018

January 14, 2018, VANCOUVER, CANADA – Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) is pleased to provide the results of the Annual General Meeting of shareholders held on December 19, 2018 (the “Meeting”).

Meeting

At the Meeting, shareholders re-elected Toby Mayo, Lindsay Bottomer, Shastri Ramnath and Frank Anderson to the board. Shareholders also elected Murray Seitz and James Royall as directors, with the number of directors for the next year being set at six. 

The Board of Directors reappointed Toby Mayo as President and CEO.  Cyrus Driver was reappointed Chief Financial Officer and Lindsay Bottomer will continue as Lead Director.  Terri Anne Welyki will continue in her role as VP Corporate Communications.  The Audit Committee is comprised of Lindsay Bottomer (Chair), Frank Anderson and Murray Seitz. 

In addition, shareholders reappointed the Company’s auditor, authorized the directors to fix the auditor’s remuneration and approved the Company’s stock option plan and issuance of stock options to insiders. For more information on these matters, please refer to Far Resources’ information circular, available on SEDAR (www.sedar.com).

New Directors

The Company is pleased to welcome Mr. Murray Seitz and Mr. James Royall as independent board members. 

Mr. Seitz has extensive public company experience at varying levels including as a director, audit committee member and advisor.  He currently serves as a director of Altan Rio Minerals Limited, Altan Nevada Minerals Limited, both of which are listed on the TSX Venture Exchange.  He has completed the Canadian Securities Course and holds a Bachelor of Business Administration degree.

“I'm excited to be joining the Far Resources team,” commented Mr. Seitz. “I'm confident my financial background and 18 years of public company experience will be a benefit to the company.”

Mr. Royall is an exploration geologist with over 20 years experience, including over a decade in senior positions with publicly traded mining companies.  He currently serves as Vice President, Exploration of Pan Global Resources, a TSXV listed company and previously served as Chief Geologist of Georgian Mining Corp. and as Exploration Manager for Medgold Resources.  When not directly employed by a mining company, Mr. Royall acts as an independent geologist, providing consulting services to junior mining companies in Spain, Georgia, Chad and Chile. He began his career with Rio Tinto. Mr. Royall holds a BSc (Hons) in Geological Sciences from Oxford Brookes University, England.

Mr. Royall stated, “I am very pleased to be given the opportunity to contribute technically at the board level to the Company’s future successes. I look forward to working with Far’s team to bring insight, help advance the projects and assess new opportunities.”

Reorganising capital structure

The Company is also pleased to announce that it is reorganising its option grants to directors, officers and consultants. It has cancelled 7,468,000 stock options priced at $0.295 and above.  After accounting for the cancellations, the Company will have 1,600,000 options outstanding.

“Reorganising our options structure will allow the Company to provide positive incentives to the reinvigorated board and management,” stated Mr. Mayo, Far’s President. “I welcome the new board members and look forward to working with them to build shareholder value.”

About Far

Far Resources is a Canadian battery and technology minerals exploration and development company with exploration projects in Canada and the USA. More information on Far is available at www.farresources.com.

 

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ON BEHALF OF THE BOARD OF DIRECTORS OF

FAR RESOURCES LTD.

Toby Mayo, President and CEO

 

Information Contact

Terri Anne Welyki

1-833-327-7377

corpcom@farresources.com

 

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

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. Readers 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. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon. 

Far Resources commences fifth round of drilling at its Zoro Lithium Project.

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Far Resources commences fifth round of drilling at its Zoro Lithium Project, solidifies its potential to become a major North American lithium source with extension of mineralisation at Dyke 8 in first hole of programme.

November 15, 2018 – Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“Far” or the “Company”) is  excited to announce that is has commenced its fifth round of drilling—starting ahead of schedule—at its 100% owned Zoro Lithium Project in Manitoba, where it is completing a twenty-one hole programme focusing on both existing discoveries and new targets. Three holes will be drilled to complete metallurgical test studies.

The first hole drilled during this campaign (FAR18-017), which targeted the newly discovered Dyke 8, intersected 13 metres of well-mineralised spodumene, extending the zone of lithium mineralisation to the east by approximately 30 metres.

The Company will complete its previously announced 2,000-metre diamond drill campaign (October 23, 2018 news release), with operations based at the historic mining community of Snow Lake in mining-friendly Manitoba.

“Once again, Far delivers on its strategic plan by initiating its fifth round of drilling at Zoro, starting well ahead of schedule,” stated Toby Mayo, President and CEO of the Company. “It comes as no surprise to us that the very first hole of this important phase of exploration has extended the known potential for mineralisation by expanding Dyke 8 to the east of the discovery hole. This news reinforces our absolute conviction that Zoro has the potential to be a major economic deposit in a previously unrecognised lithium belt, with the potential to be a major North American lithium supplier. As this campaign continues, we will be making further discoveries, while de-risking the project through the completion of our metallurgical test programme. Manitoba deserves to be recognised as prime lithium real estate.”

The current programme will test up to 15 high-priority lithium targets based on an integrated database including previous drill results, prospecting, geological mapping and Mobile Metal Ions soil geochemistry. The drill program will also assess the potential for expanding high-grade lithium mineralization at recently discovered Dyke 8 as well as obtaining additional material from Dyke 1 for the ongoing metallurgical test work programme. It received its work permit from the office of Sustainable Development, Manitoba Government in early November.

Management believes that this fifth phase of drilling will continue to demonstrate the vast potential of Zoro. As previously announced, the Zoro Lithium Project now hosts at least eight lithium-bearing dykes with over a million tonnes identified at Dyke 1 so far. With an additional fifty targets, the Project represents a great opportunity for delineating significant tonnage of economic value.

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Currently the cutting and preparation of helicopter and drill pads is ongoing by Far’s field crew. Westcore Drilling and Gogal Air Services have mobilised the drill to Dyke 8 and drilling scheduled to commence November 7. The plan is to start drilling at Dyke 8 followed by a drill move to test targets at Dyke 1. Three holes will also be drilled from representative zones of spodumene mineralization at Dyke 1 to acquire sufficient material for the commencement of metallurgical studies to be undertaken at the Lakefield (Ontario) facility of SGS Mineral Services. The drill will then move northwards from Dyke 1 to test the remainder of the high-contrast targets (Figure 1).  The Company’s technical crew and core technologist have also mobilised to site to prepare the core logging and sampling facility for a busy fall drill program.

The fall drill programme contract has been awarded to Westcore Drilling with air support provided by Gogal Air Services.

Core samples will be logged, cut, bagged and shipped from Far’s core logging and preparation facility in Snow Lake and shipped to Activation Laboratories (Ancaster, Ontario) for the analysis of lithium and a multi-element suite of elements referred to as UT-7. This method is based upon a sodium peroxide fusion which captures total amounts of lithium and related elements in the sample.

About the Company

Far Resources is actively drilling its Zoro Lithium project located near Snow Lake, Manitoba, which covers a number of known lithium pegmatite occurrences. The Company has recently acquired an option on the Hidden Lake Property in NWT and is initiating drilling for continuity of spodumene mineralization to depth.  In the United States, the Company owns the Winston project in New Mexico, an historic mining property with additional potential for silver and gold.  Please visit our website at www.farresources.com for full details on our current projects.

The technical content of this news release has been reviewed and approved by Mark Fedikow P.Geo., a qualified person as defined under NI 43-101. 

ON BEHALF OF THE BOARD OF DIRECTORS OF

FAR RESOURCES LTD.

Toby Mayo, President and CEO

FOR FURTHER INFORMATION, PLEASE CONTACT

Renmark Financial Communications Inc.

Steve Hosein: shosein@renmarkfinancial.com

Tel: (416) 644-2020 or (514) 939-3989

www.renmarkfinancial.com

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

This news release contains forward-looking statements, which relate to future events or future performance (including our planned exploration for the Winston Project, the Zoro Lithium Property and the Hidden Lake Property) 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. Readers 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.  All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.