Arbor Metals Corp. announced that it has been granted the right to acquire the Jarnet Lithium Project, located in the James Bay Region of Quebec, which consists of forty-seven map designated claims, covering an area of approximately 2,430 hectares. The Jarnet Project is contiguous to the Corvette-FCI Property, where diamond drilling has confirmed significant lithium mineralization; hole (CF21-001) returned a 146.8 m interval of near continuous pegmatite, assaying 0.93% Li2O and 114 ppm Ta2O5, including1.09% Li2O and 108 ppm Ta2O5 over 73.0 m, and 1.04% Li2O and 145 ppm Ta2O5 over 54.6 m. This interval returned numerous samples over 2.0% Li2O, including a peak assay of 4.16% Li2O and 233 ppm Ta2O5 over 1.01 m. (November 29, 2021) Preliminary interpretations of geophysics and geological datasets suggest that the Jarnet Lithium Project hosts extensions of lithium trend identified at the Corvette-FCI.

The right to acquire the Jarnet Project was granted pursuant to a mineral property option agreement (the "Option Agreement") entered into with an arms-length vendor. Under the terms of the Option Agreement, the Company can acquire all rights to the Project, subject to a 1% net smelter returns royalty on commercial production to be granted to the vendor, which can be purchased by the Company at any time for a cash payment of $1,000,000. In order to exercise the option and acquire the Project, the Company must make a series of cash payments and incur work expenditures on the Project over a three-year term.