07:20 AM EDT, 05/29/2025 (MT Newswires) -- Frontier Lithium ( LITOF ) overnight Wednesday said the definitive feasibility study for the mine and mill segment of its PAK Lithium Project in Ontario shows it could generate $11 billion in net revenue over a 31-year mine life. The study boosted the project's mineral reserve estimate by 37%.

According to the study, the project could record an after-tax net present value (NPV) of $932 million, and average annual pre-tax earnings of $285 million in steady-state operations. Proven and probable reserves for the PAK project is 31.1 million tonnes of lithium oxide, a a 37% increase over Frontier's 2023 s pre-feasibility study, the company said.

"This DFS is a key milestone that builds the confidence to advance permitting, infrastructure, and strategic partnerships. With strong projected economics, low costs, and long-term earnings, the Project could drive self-funded future growth and support Canada's Critical Minerals Strategy," said Trevor Walker, chief executive.