Renard Project

In the spring 2024, Winsome signed an exclusive Call Option signed to acquire the assets comprising the Renard Mine and associated infrastructure (Renard) or all of the issued capital in Stornoway (the 100% owner of Renard), subject to Quebec Court approval.

Winsome was considering acquiring the Renard mine because of the possibility it presented to convert these infrastructures to process lithium mineralized material, spodumene, from the Adina Lithium Project.

Indeed, Winsome was seeing the proposed acquisition as an opportunity to minimize its impact in the development of Winsome’s 100%-owned Adina Lithium Project (Adina), and for the eventual conversion of Renard’s existing infrastructure into a lithium processing operation. Other opportunities and potential benefits were also highlighted.

The Option entitled Winsome to acquire the assets or all of the issued capital in Stornoway before August 31, 2025 (Option Period).

Our team used the Option period to assess the potential technical, economic, environmental, and social feasibility of repurposing Renard as well as identify the optimal transaction structure and negotiate definitive documents to give effect to the proposed acquisition (Proposed Acquisition).

Given the current market environment, Winsome has decided not to proceed with the potential acquisition and announced this on July 29, 2025.

Winsome remains focused on advancing its flagship Adina Lithium Project and continues to monitor industry conditions while evaluating opportunities that align with its long-term strategy.

Given that the Renard project remains the most viable option in terms of operations, costs, and logistics, Winsome intends to continue actively collaborating with Stornoway, the governments of Quebec and Canada, First Nations, and other key stakeholders to explore synergies between the Adina and Renard projects. Our team believes that as long as the Renard site is neither sold nor reclaimed, the Renard project opportunity remains open and may be revisited in the future.

For more information, consult our press releases:
Press release, April 3, 2024
Press release, August 1, 2024
Press release, December 5, 2024
Press release, February 17, 2025
Press release, June 17, 2025
Press release, July 29, 2025

Your questions : 

1. Why were you interested in the infrastructure/assets of the Renard Mine?

It was an opportunity that could have allowed us to minimize our impact by reusing existing infrastructure. It could potentially allow the infrastructure of the Renard processing plant to be converted to process lithium mineralized material from the Adina Lithium project.

“Recycling these infrastructures was fully in line with our sustainable development approach, an opportunity to minimize our impact in the development of the Adina project, on the environment by reusing an existing site. It would have been irresponsible not to evaluate this possibility. Our priority was to reach out to all our stakeholders and discuss with them their comments and vision of this opportunity.”  Geneviève Morinville, Vice President, Sustainable Development and Regulatory Affairs

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The technical information herein has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed on behalf of the Company by Mr. Antoine Fournier, P.Geo, a Qualified Person and registered permit holder with the Ordre des Géologues du Québec (#0516)

Winsome follows standard industry practices regarding quality assurance/quality control protocols for its exploration and drilling programs. Please see relevant press releases for details related to specific programs. All data is verified by Company geologists under the supervision of Mr Fournier.