VANCOUVER, British Columbia, Dec. 30, 2021 (GLOBE NEWSWIRE) -- FAR Resources Ltd (CSE:FAT) (FSE:F0R) (OTC Pink:FRRSF) (www.farresources.com) (“FAR Resources” or the “Company”) is pleased to provide the following letter from the President and CEO, Scott Taylor:
As FAR Resources newly installed President CEO, and in keeping with my commitment to re-build market trust and maintain transparent shareholder communications, I offer the following corporate update and planned overview for 2022. Firstly, thank-you to all shareholders who overwhelmingly voted for change at our recent AGM. Speaking on behalf of the new Board of Directors, we are committed to earning your confidence and to moving FAR forward in the upcoming year!
Globally, lithium exploration companies are enjoying a robust year and we plan to develop FAR’s properties in a way that is consistent and on-par with our peers in 2022. Previous management’s failed strategy led to a massive disconnect between the Company’s valuable assets and the share price in 2021. The Board and management of your company are committed to eliminating this disconnect and to start creating real value for our shareholders. For immediate action, I can confirm the following:
- We have concluded our airborne geophysical survey over Jean Lake and final interpretation of results are being confirmed by Dr. Mark Fedikow and will be disclosed in the near future
- We have completed the reporting and documentation required to receive Phase 2 of the $300,000 grant awarded by The Manitoba Mineral Development Fund ("MMDF")
- Finalizing corporate branding including company name change reflecting commitment to lithium production, which will include launch of new website, corporate imaging and marketing materials by the beginning of the year
- Had successful strategy sessions in New York City mid-December with natural resource market experts to enlarge our US footprint and influence international contacts and players in the lithium space. I was very well received and the market appears hungry for exciting, new lithium opportunities
- An application was submitted for an up listing from the OTC Pink to the OTCQB Venture Market
- Recently personally visited New Mexico to understand the issues causing delays in our drilling plans of our Winston Gold/Silver Project. Dr. Michael Feinstein (the on-site team geologist), and I have a subsequent on-site meeting mid-January in to discuss advancement of the Project, and to resolve our stalled progress
- Extensive due diligence continues on the Hidden Lake program in the NWT and an analysis of strategic options to enhance the value of this lithium asset is ongoing
It is our promise to move the company forward through exploration, drilling and resource delineation as we are in possession of three excellent lithium properties and one outstanding gold/silver property. We plan to get drills in the ground in 2022 and monetize our assets. Far Resources (soon to be XXXXXX Lithium) is poised to take advantage of the global demand for lithium fueled by the explosive growth in the EV market and crucial adoption of green technologies. Our company is well positioned and has infinite potential. With the disciplined execution of our business strategies, we shall solidify and expand our position in the North American lithium sector with confidence in 2022!
Wishing you all the best in the coming year!
President and CEO, Far Resources LTD.
Far Resources is an energy tech company driven to being one of the first North American Companies committed to produce high quality battery-grade lithium hydroxide domestically to fuel the electric vehicle battery market. Given the importance and global focus on increasing energy decarbonization, especially when it comes to vehicles, The Company is hyper-focused in continued exploration and growth on its three lithium properties, Zoro and Jean Lake located in Snow Lake, Manitoba, and Hidden Lakes in the Northwest Territories. Far Resources also holds assets in precious commodities with its Winston Gold/Silver Project in New Mexico, USA.
President and CEO
Far Resources Ltd
1 604 330-8067
President and CEO
Far Resources Ltd.
1 604 330-8067
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 may contain forward-looking statements, which relate to future events or future performance, including planned exploration, 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 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.