- First Lithium Minerals Corp. (CSE:FLM) announced a flow-through financing of up to $600,000, issuing 7.5 million shares at $0.08 each to fund exploration in Ontario.
- The funds will support further geological work, including follow-up on a gold anomaly discovered at the company’s wholly-owned Lidstone Prospect in northwestern Ontario.
- Initial fieldwork in October 2024 yielded 54 rock samples, with one quartz vein sample returning 0.272 g/t gold, prompting plans for deeper exploration in the 2025 field season
- First Lithium Minerals stock (CSE:FLM) last traded at $0.06
First Lithium Minerals (CSE:FLM) has announced its intention to complete a flow-through financing for gross proceeds of up to C$600,000, issuing up to 7.5 million flow-through shares at a price of $0.08 per share. The offering is designed to support the company’s ongoing exploration efforts in Ontario, with proceeds earmarked for eligible “Canadian exploration expenses” under the Income Tax Act.
This content has been prepared as part of a partnership with First Lithium Minerals Corp. and is intended for informational purposes only.
The financing initiative comes at a pivotal time for the company, which is actively exploring its wholly owned Lidstone Prospect in northwestern Ontario. The Lidstone property spans 173 square km and is strategically located near the boundary of the English River Basin and the Uchi Domain — a geologically favourable region known for its greenstone belts and mineral-rich formations.
In October 2024, First Lithium Minerals conducted its first reconnaissance field exploration at Lidstone, collecting 54 rock samples targeting gold, lithium, copper, and nickel. While the lithium-focused LCT pegmatite samples did not yield anomalous results, the program revealed a promising gold anomaly, which was reported in March 2025. A sample from a barren quartz vein returned 0.272 g/t Au, sparking renewed interest in the property’s gold potential.
The company plans to follow up with more extensive exploration in the 2025 field season, focusing on both gold and lithium targets. The geological setting — including metasedimentary units, migmatized supracrustal rocks, and mafic to intermediate volcanic formations — supports the potential for multi-metal mineralization.
With the flow-through financing expected to close in the coming weeks, First Lithium Minerals Corp. is positioning itself to capitalize on Ontario’s rich mineral landscape and expand its exploration footprint in one of Canada’s most promising mining regions.
First Lithium Minerals stock (CSE:FLM) last traded at $0.06 and is up 18 per cent since the year began.
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