Surface Metals

Surface Metals (Formerly ACME Lithium) is a mineral exploration company focused on acquiring, exploring, and developing battery metal projects. The Company is backed by strategic investors and led by an experienced management team who have successfully built and financed resource companies around the world. With multiple projects in different stages located throughout North America, the building blocks of the future are the Surface’s focus today.

The North American lithium sector has experienced significant growth and interest in recent years due to increasing demand for lithium-ion batteries used in electric vehicles and energy storage systems. As governments and consumers prioritize the shift towards sustainable transportation and clean energy, new opportunities have been created for lithium producers.

To ensure a sustainable and secure supply of lithium, there has been a greater push for domestic supply chain integration in North America. This includes the development of domestic lithium extraction and refining capabilities, as well as battery manufacturing facilities. The aim is to reduce North America’s dependence on international lithium imports and create a domestic supply chain. 

ACME’s goal is to power the energy revolution and help build a domestic supply of lithium in North America. Growing demand has attracted significant investment and partnerships throughout the North American lithium sector. Exploration companies, mining companies, and battery manufacturers have formed alliances to secure access to lithium resources, new project developments, and advance battery technologies. 

North American governments have begun to implement aggressive policy changes to advance the exploration and production of critical minerals including lithium. The US Infrastructure Investment and Jobs Act has allocated $US407 million towards critical minerals extraction, development, and research activities. Meanwhile, the Canadian government has approved nearly $CA3.8 billion of spending for its critical mineral strategy. 

Traditionally, North American lithium production has been primarily focused within Nevada, however the whole of North America has substantial lithium deposits, including both lithium brine and hard rock resources. While lithium production is traditionally dominated by brine deposits, hard rock lithium deposits have become an increasingly popular focus to diversify the supply chain. ACME’s projects are strategically located and currently in different stages of development, so the company’s profile boasts a wide variety of potential. 

The Nevada project claims can be explored year-round in excellent weather and access to expertise, infrastructure, rail, roads, power, and water are easily accessible. The Clayton Valley area has gained significant interest as it is currently home to the only producing lithium mine in North America. ACME’s Clayton Valley Project has recently completed a Dissolved Mineral Resource Exploration test well as part of a Phase 2 expanded drill program, with results indicating a total lithium concentration of 110 mg/L. The results provide a preliminary indication of the concentration of lithium brines across the Lower Gravel Unit of the test well.  Further characterization is ongoing.

Meanwhile, ACME’s Fish Lake Valley Project is drill ready after two phases of field work and geophysical sampling, and drilling has been recommended to determine the concentrations and presence of lithium. Claystone with +1200 ppm lithium has been exposed in small outcrops along the basin, representing a tiny fraction of the basin-fill. Drilling is the next planned phase of development to test the minerology, grade, and scale.

ACME’s Manitoba projects are also in a known area of lithium production and development as they neighbor the Tanco Mine, which has been in production since 1929. ACME completed a maiden winter 2023 drilling program. Although economic grade lithium was not found, the Company intersected pegmatites in six of eight holes and further evaluation of this past program is ongoing for future work. Mineral exploration spending is a top priority for the Government of Manitoba following the recent release of a critical minerals strategy that aims to double spending and become a hub for lithium production in North America.

The Company’s newest acquisition is at Bailey Lake in Saskatchewan, where the project is set to begin a highly anticipated summer exploration program which includes mapping, geochemistry and geophysics. Saskatchewan is currently ranked third in the world and first in Canada for investment attractiveness by the Fraser Institutes 2022 Annual Mining Survey. The Government of Saskatchewan also recently announced the expansion of existing investment and innovation incentive programs, aiming to become one of the best resource development jurisdictions in the world. 

​

​

ACME Lithium presents a compelling investment opportunity in the growing North American lithium sector. With strategic land positions in Nevada, Manitoba, and Saskatchewan, ACME offers exposure to both brine and hard rock lithium resources. The company's properties are located in proven lithium jurisdictions with favorable geology, infrastructure, and governmental support.

While still in the early exploration and development stages, initial results from ACME's properties have been encouraging. The recent dissolved mineral resource test well results from Clayton Valley showed promising lithium concentrations. Meanwhile, the Manitoba and Saskatchewan projects appear well-positioned for further exploration this year.

As global demand for lithium rises due to the electric vehicle and energy storage revolution, there is increased appetite for domestic lithium production in North America. ACME aims to be at the forefront in developing new lithium supplies to meet this demand. With lithium prices expected to remain strong for the foreseeable future, ACME could generate substantial value for shareholders if exploration continues to deliver positive results.