SYDNEY, AUSTRALIA: Great Northern Minerals Limited (ASX: GNM) has announced its acquisition of two Reservation Permits covering approximately 536.3 km2 of highly prospective lithium terrain in Southern Finland.

The move comes after the European Commission classified lithium as a “Critical Raw Material” in September 2020, and Finland unveiled its National Battery Strategy (National Battery Strategy 2025). GNM is set to enter Europe’s new lithium value chain, which is vital to the region’s energy transition and climate change goals.

Cameron McLean, GNM CEO & Managing Director, expressed his excitement over the acquisition, saying: “We are delighted with this fantastic opportunity to acquire two highly prospective lithium projects in a very supportive jurisdiction. Following GNM’s recently granted rare earth tenement in NSW, the potential to conduct further investigations on the Projects which share similar analogies to that of the Cinovec Deposit is exciting and an ideal start to battery mineral exploration.”

The European Commission estimates the EU will need 18 times more lithium in 2030 than that which is consumed in 2020, and 60 more times by the end 2050. With the acquisition of the Projects, GNM is well-positioned to take advantage of this growing demand and create a potential sustainable supply chain of lithium.

Finland has highly prospective geology for the formation of lithium deposits, including the Kaustin Lithium province, which is currently the largest in Scandinavia. In addition, Finland is consistently ranked in the top 10 of the Fraser Institute’s Annual Survey of Mining Investment Attractiveness. Sibanye-Stillwater is also currently constructing the Keliber Lithium Hydroxide Project in the Central Ostroborthnia region, another significant lithium-bearing province in Europe.

GNM intends to conduct extensive field reconnaissance programs during the upcoming summer season, subject to successful due diligence. The Company will compile all available public datasets on the Project areas in preparation for this program. The acquisition of these Projects is an exciting step for GNM as it enters Europe’s new lithium value chain, contributing to the region’s energy transition and climate change goals.

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