ION Energy Commences Drilling of Monitoring Wells at Urgakh Naran, and Confirms Site Visit

ION Energy Limited is very pleased to share that drilling has commenced at Urgakh Naran and the site visit previously announced is set to occur later this month.

TORONTO, September 15, 2022 – ION Energy Limited (TSXV: ION) (OTCQB: IONGF) (FRA: 5YB) (“ION” or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/ion-energy-ltd/) is very pleased to share that drilling has commenced at Urgakh Naran and the site visit previously announced is set to occur later this month.

Highlights:

  • The first of three holes to be drilled to minimum depth of 300 metres, has commenced drilling at Urgakh Naran, advancing the Company towards an inferred resource before year end; and
  • Site visit including technical experts and potential strategic partners to occur before month-end.

“Yet another exciting breakthrough for the company as we continue to deliver on our promise to investors with respect to upcoming catalysts. allowing us to better understand and surface the value of Urgakh Naran. The site visit later this month will include Technical experts, potential Strategic Partners and myself; a pivotal moment for the company and our shareholders. We look forward to pressing ahead with the work onsite which will include 3 monitoring wells and ultimately, an inferred resource calculation before the end of 2022.” said Ali Haji, CEO & Director of ION Energy.

The monitoring wells are being completed by ION Energy alongside our hydrogeological drilling contractor. The Company will be logging all core samples, ensuring the core remains wrapped in plastic, photographed and stored appropriately. Brine samples will be collected according to the industry standard, assayed and shared with the market as available.

Summary

Diamond core drilling has commenced at Urgakh Naran, core will be collected for assaying and porosity testing.

Figure 1: Low Resistivity Zone shown with lines 1 through 9, as well as locations of the holes being drilled onsite.

 

Figure 2. Diamond Core Drill Rig on site at Urgakh Naran.

Figure 3. Core samples collected at Urgakh Naran.

 

Upcoming Shareholder Summit:

To learn more about what is in store for ION Energy this Fall, join us for our upcoming Fall Exploration Update on Thursday, September 22, 2022 at 12 pm EST. Registration link is HERE.

All technical information disclosed in this press release has been reviewed and approved by Khurelbaatar Lamzav, P.Geo., an independent consultant to the Company and a “Qualified Person” under National Instrument 43-101.

About ION Energy Ltd.

ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FRA: 5YB) is committed to exploring and developing Mongolia’s lithium salars. ION’s flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world’s increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.

For further information:

COMPANY CONTACT: Ali Haji, [email protected], 647-871-4571

MEDIA CONTACT: Siloni Waraich, [email protected]416-432-4920

In Europe:

Swiss Resource Capital AG

Jochen Staiger

[email protected]

www.resource-capital.ch

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