Vinland optionee Elevra terminates Killick option

Executive Summary

• Elevra Lithium Ltd. terminated its option agreement, leaving Vinland Lithium Inc. with 100 % control of the Killick lithium project (subject to a 2 % NSR).
• Summer 2025 field program generated new lithium‑rich targets (e.g., up to 1.70 % Li₂O float at Kraken West) and extensive geophysical work, expanding the exploration footprint.
• Ongoing partnership with the Critical Minerals Research Initiative provides $1.3 M over four years for detailed pegmatite research.

Key Details

• Ownership: Vinland retains full (100 %) ownership of Killick; 2 % NSR split 1 % to Benton Resources and 1 % to Pirate Gold. Elevra remains a 19.9 % shareholder from its prior investment.
• Exploration Highlights – Summer 2025:
• Prospecting: lithium‑rich float up to 1.70 % Li₂O at Kraken West; 485 ppm Li in an unsampled area 1.2 km north of the Killick dike.
• Till sampling: elevated spodumene grain counts defining new target zones.
• Ground geophysics: 58.9 km magnetics and 31.4 km VLF‑EM surveys at Kraken‑Killick, delivering higher resolution than prior airborne work.
• Critical Minerals Research Initiative: Funding of $1.3 million over four years for pegmatite research in partnership with St. Francis Xavier University, Memorial University, and the Newfoundland Geological Survey.
• Historical Drill Results (2022‑2024):
• Hole GH‑22‑01: 8.4 m @ 0.95 % Li₂O (Kraken dike).
• Hole GH‑22‑27: 15.23 m @ 1.04 % Li₂O (Killick/East dike system).
• Hole GH‑23‑46: 13.37 m @ 1.22 % Li₂O.
• Hydra Cesium Discovery: Channel sample – 8.75 % Cs₂O, 0.41 % Li₂O, 0.025 % Ta₂O₅, 0.33 % Rb₂O over 1.2 m; drill hole HY‑23‑01 – 13.55 m @ 0.146 % Cs₂O & 0.158 % Li₂O, including 0.50 m @ 0.80 % Cs₂O.
• Airborne Survey (2024): 4,854.3 km of combined magnetics and VLF‑EM data collected April–May 2024; merged with 2021 dataset for full project coverage, identifying multiple anomalous zones for follow‑up.
• Prospecting Results: Float samples in Kraken South ranging up to 1.97 % Li₂O, with 11 samples > 1.0 % Li₂O; basal till sampling confirms spodumene grains.
• Soil & Till Sampling: Multikilometre anomalies (Grandy's West, Top Pond Ridge) showing elevated Li and Ta, indicating high‑potential LCT pegmatite dikes.
• QA/QC Protocols: Samples processed by SGS Canada Inc. (ISO/IEC 17025 accredited) using GS_IMS91A50 method; soils analyzed by Eastern Analytical Ltd.; till samples sent to Overburden Drilling Management.

Notable Quotes

(No direct quotes were provided in the release.)