Tearlach Resources Discovers Spodumene on Georgina Properties

VANCOUVER, BRITISH COLUMBIA, October 18, 2023, Tearlach Resources Limited (TSXV: TEA) (OTCQB: TELHF) (FRANKFURT: V44) (“Tearlach” or the “Company”) is pleased to announce the discovery of spodumene, the main ore for lithium, on its Georgina Properties in northern Ontario. The spodumene-bearing pegmatite, which we have named “Riches Pegmatite,” is the first to be discovered on the property and provides the Company with a clear path and defined targets for ongoing work in the area. Tearlach will continue to explore the asset to identify further pegmatites and continue to seek additional mineralization throughout the property.

Dr. Selway, VP of Exploration, said, “The discovery of spodumene and pegmatite was the highlight of our 2023 summer exploration program. Once the geology team found the beryl in outcrop on Beryl Island, I knew that we were very close to finding spodumene. The grade and extent of the spodumene in the outcrop justifies a winter drill program.”

Highlights:

-          Green spodumene crystals up to 20 cm wide and 30 cm long were discovered in pegmatite, on Parks Lake peninsula (Figure 1).

-          The current width of the exposed area of the spodumene pegmatite is 12 m.

-          Abundant blue spodumene crystals were also discovered in the pegmatite (Figure 2).

-          The concentration of spodumene in the pegmatite ranges from 5% to 50% locally, with an average of 15-20% spodumene.

-          At the time of discovery, the spodumene pegmatite was exposed in two outcrops.

Grab sample assays of Riches Pegmatite:

-          6.48 % Li2O blue-grey spodumene, sample 889574

-          5.89 % Li2O green spodumene, sample 889563

-          5.09 % Li2O pale green spodumene, sample 889573

-          3.83 % Li2O green spodumene zone with 20-25% spodumene, up to 20 cm in size, sample 889564

-          1.61 % Li2O pale green spodumene zone with locally 30% spodumene, sample 889562

Samples 889574, 889563 and 889573 are mineralogical samples of pure spodumene. Visual estimates of spodumene contents in the Riches pegmatite does not necessarily equate to Li2O % assays. Additional assays are pending. Grab samples are selective in nature and may not represent the average composition of the spodumene pegmatite.

Figure 1 30 cm long and 20 cm long green spodumene crystals discovery, Riches Pegmatite, Parks Lake Peninsula, Georgina Properties.  Location AR-23-348.

Figure 2 Abundant blue-grey spodumene crystals in Riches Pegmatite, Georgina Properties.

Figure 3 Map of the Riches Spodumene Pegmatite and the Rare-element pegmatite zone on Parks Lake. Musc = muscovite.

Table 1 Assay highlights table for Parks Lake, Georgina Properties. RE = rare-element (i.e., Be, Li, Rb, Cs, Nb, Ta)

Once Tearlach’s geology team discovered beryl on Beryl Island and Nb-Ta oxides on Oxide Island on Park’s Lake (Tearlach press release Oct. 10, 2023), they knew that they were close to finding spodumene. Examination of the abundant outcrop along the Parks Lake peninsula lakeshore led to the discovery of very coarse-grained muscovite books in rare-element pegmatites, and the following day, Riches spodumene pegmatite was discovered (Figure 3). The muscovite book pegmatite zone is the border zone characteristic of the Riches spodumene pegmatite (Figure 4).

Alan Rich, Tearlach senior geologist, who first identified the spodumene in the field. In recognition, we name it Riches Pegmatite. Alan was accompanied by Kyle Henderson, Kevin Tran and Richard Kindla during the discovery and Tearlach thanks each of them for their efforts.

Coarse-grained muscovite books have been identified in seven other locations within the rare-element pegmatite zone (Figure 3 and Figure 4). There is a potential that these other seven locations of muscovite books also relate to spodumene pegmatite; however, stripping is required to determine if each of these locations also contains spodumene.

Tearlach’s geology team will cut channel samples of Riches pegmatite and conduct a Trimble GPS survey with real-time satellite CenterPoint correction and ± 2 cm accuracy in the horizontal to prepare for a winter drill program on the pegmatite.

Figure 4 Coarse-grained muscovite books border zone of Riches spodumene pegmatite, Parks Lake peninsula. Georgina Properties. Location AR-23-348.

Sampling and Mapping Methodology

As of Oct. 6, 2023, a total of 437 grab sample assays have been completed and returned by Actlabs, Ancaster, Ontario, throughout the Georgina Stairs and Georgina East Properties from the 2023 summer mapping program. Additional samples have assays pending. These grab samples cover all of the lithologies present on the Properties: granite, pegmatite, metasedimentary rocks and diabase. This assay database contains samples with anomalous rare-elements (Be, Rb, Cs, Nb, Sn, Ta), which are associated with lithium mineralization.

Quality Control

The grab samples were delivered by Tearlach geologists to Actlabs, Geraldton or Thunder Bay preparation labs. Samples were assayed by Actlabs, Ancaster analytical lab, which is an ISO 17025 accredited laboratory. The samples were digested using lithium metaborate/tetraborate fusion and assayed by ICP-OES and ICP-MS for whole rock major oxides and trace elements (i.e., 4Litho-Pegmatite Special package). Li2O % was digested using sodium peroxide fusion and assayed using ICP-OES. Actlabs inserted standards, blanks, pulp duplicates and prep duplicates into the sample stream. Tearlach inserts one lithium external standard and one blank into the sample stream for every 20 samples. The external standards are OREAS 147 and OREAS 148, and the external blank is quartz chips. All standards and blanks passed a Quality Control review.

Qualified Person:

Julie Selway, Ph.D., P.Geo. supervised the preparation of the scientific and technical information that formed the basis for the written disclosure in this news release. Dr. Selway is the VP of Exploration for Tearlach Resources and the Qualified Person ("QP") as defined by National Instrument 43-101.

About Tearlach:

Tearlach, a member of the TSX Venture 50, is a Canadian exploration company engaged in acquiring, exploring, and developing lithium projects. Tearlach has two key projects: Lithium pegmatite on Georgina Properties, Jellicoe, northern Ontario and Lithium claystone on Gabriel Project in Tonopah, Nevada, bordering American Lithium's TLC Deposit. Spodumene was discovered on the Georgina Properties during the summer 2023 exploration program. Tearlach has completed 11 drill holes on the Gabriel Property. Tearlach has two other lithium assets in Ontario: Final Frontier and New Frontier. Final Frontier is located adjacent to and near Frontier Lithium’s PAK lithium deposit north of Red Lake. Tearlach has two lithium assets in Quebec: Rose-Fliszar-Muscovite Project in the James Bay area and Shelby Project adjacent to and near Patriot Battery Metals’ Corvette lithium project and Winsome Resources’ Cancet and Adina lithium projects. Tearlach also has the Savant Property, an exploration stage Gold-Silver-Copper Property, in Northwestern Ontario. Tearlach's primary objective is to position itself as North America's leading lithium exploration and development company. For more information, please get in touch with the Company at [email protected] or visit our website at www.tearlach.ca for project updates and related background information.

ON BEHALF OF THE BOARD OF DIRECTORS,

TEARLACH RESOURCES LIMITED

Charles Ross

Chief Executive Officer

Suite 610 - 700 W. Pender Street

Vancouver, BC, Canada V6C 1G8

Tel: 604-688-5007

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