VANCOUVER, British Columbia, December 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 President and CEO Scott Taylor:
As the new Chairman and CEO of FAR Resources, and in line with my commitment to restore market confidence and maintain transparent communications with shareholders, I offer the following company update and planned overview for 2022. First of all, thank you to all the shareholders who voted overwhelmingly for change at our recent AGM. Speaking on behalf of the new board of directors, we are committed to earning your trust and moving forward in the year to come!
Globally, lithium exploration companies are having a strong year, and we expect to develop FAR properties in a consistent manner and on par with our peers in 2022. The previous management’s strategy failure has resulted in a massive disconnect between the company’s valuable assets and the price share in 2021. Your company’s board and management are committed to ending this disconnect and starting to create real value for our shareholders. For immediate action, I can confirm the following:
- We have completed our airborne geophysical survey on Lake Jean and the final interpretation of the results is being confirmed by Dr. Mark Fedikow and will be released in the near future.
- We have completed the reports and documentation required to receive Phase 2 of the $ 300,000 grant from the Manitoba Mineral Development Fund (“MMDF”)
- Finalize the corporate branding, including the corporate name change reflecting the commitment to lithium production, which will include the launch of a new website, corporate image and of marketing materials by the start of the year
- Had successful strategy sessions in New York in mid-December with natural resource market experts to expand our footprint in the US and influence international contacts and lithium industry players. I have been very well received and the market seems hungry for exciting new opportunities for lithium.
- An application has been submitted for an OTC Pink listing on the OTCQB Venture Market
- I recently personally visited New Mexico to understand the issues causing delays in our drilling plans for our Winston Gold / Silver project. Dr Michael Feinstein (the geologist for the on-site team) and I have an upcoming on-site meeting in mid-January to discuss the progress of the project and to resolve our stuck progress.
- Extensive due diligence continues on the Hidden Lake program in the Northwest Territories and an analysis of strategic options to improve the value of this lithium asset is underway
It is our promise to move the business forward through exploration, drilling and delineation of resources, as we are in possession of three excellent properties of lithium and one exceptional property of gold and silver. . We plan to launch drills 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 of the electric vehicle market and the crucial adoption of green technologies. Our company is well positioned and has endless potential. Through the disciplined execution of our business strategies, we will consolidate and expand our position in the North American lithium sector with confidence in 2022!
I wish you all the best for the coming year!
President and CEO, Far Resources LTD.
Far Resources is an energy technology company committed to being one of the first North American companies to commit to nationally producing battery-grade lithium hydroxide to power the electric vehicle battery market. Given the importance and global focus on increasing the decarbonization of energy, particularly with respect to vehicles, the Company is focused on the continued exploration and growth of its three lithium properties. , Zoro and Jean Lake located in Snow Lake, Manitoba, and Hidden Lakes in the Northwest Territories. Far Resources also owns assets in valuable commodities with its Winston Gold / Silver project in New Mexico, United States.
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 press release and accepts no responsibility for the adequacy or accuracy of this press release.
This press release may contain forward-looking statements, which relate to future events or future performance, including planned exploration, and reflect the current expectations and assumptions of management. These forward-looking statements reflect the current beliefs of management and are based on assumptions made by and on 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 which may cause future results to differ materially from those expected. All forward-looking statements contained in this press release are qualified by these cautionary statements and those in our continuous disclosure documents available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable securities legislation. This press release does not constitute an offer to sell any securities and the Company is not soliciting an offer to buy any securities in any jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of that jurisdiction.