Genius Metals Inc. reported the obtention of the drilling permit previously announced on January 18, 2023, for the Lithium381 Property (the "Property") located in the James Bay Territory of northern Quebec. The property is contiguous to Allkem Limited's James Bay Lithium Mine. The James Bay Lithium Project hosts an Indicated Resource of 40.8 Mt @1.40% Li2O (NI 43-101 Technical Report, Feasibility Study, James Bay Lithium Project, Québec, Canada; January 11, 2022) and on January 16, 2023, the government of Canada approved the construction of the James Bay Lithium Mine which is expected to operate during a span of 20 years.

The drilling permit submitted to government entities early in January specified the location of 27 drilling pads. Genius Metals and Clarity Metals have established a drilling program focusing on a target interpreted from preliminary results produced by a recently completed IP/Resistivity survey which outlined a 1.5 km EW-oriented area of high resistivity values. Previous surveys conducted by Lithium One in 2008 (predecessor to Galaxy Lithium) and Allkem (2021) have shown high resistivity values which in part correspond to spodumene granitic pegmatite dykes and bodies discovered and drilled previously.

The last geophysical survey completed by TMC Géophysique in 2021 indicated that the resistivity highs extend for 2.3 km east of the Billy Diamond Road (James Bay Road) where spodumene granitic pegmatite dykes were observed. The property is in the James Bay (Eeyou Istchee) Territory, Quebec, Canada, approximately 3km from the KM381 service station, which serves as an infrastructure for the local area. The 21 mineral claims comprising the 1,107 ha property are contiguous to Allkem Limited's James Bay Lithium property which comprises the Allkem lithium mineralization formerly known as Cyr lithium.

Genius Metals signed an option agreement with Clarity Metals Corp. on December 6, 2022, which enables CMET to acquire a 50% interest in the Corporation's Lithium381 property, located in the James Bay-Eeyou Istchee region of the Province of Quebec. To acquire this interest in the property, Clarity must spend $750,000 in exploration work before December 31, 2024, and issue 720,000 common shares of its capital to Genius Metals.