Denver, Colorado–(Newsfile Corp. – March 4, 2019) – Pure Energy Minerals Limited (TSXV: PE) (OTCQB: PEMIF) (the “Company” or “Pure Energy“) is pleased to provide a corporate update to shareholders. The Company announces that it has made a US$300,000 option payment to GeoXplor Corp. (“GeoXplor”), as required by an option agreement signed on May 10, 2017 with subsequent amendments, between Pure Energy, GeoXplor and Clayton Valley Lithium Inc. In addition, shares were issued to GeoXplor Ltd., pursuant to the option agreement, as detailed in a news release of January 11, 2019.
During the initial months of 2019, Pure Energy has been actively pursuing necessary regulatory steps in the State of Nevada to advance future activities at the Clayton Valley Project (“CV Project”). These include the receipt of a finite term water right which is more than sufficient for the development of a planned Pilot Plant, as detailed in a news release of January 2, 2019. In addition, certain steps have been followed to promote the access to potential future water rights in Clayton Valley, Nevada.
Pure Energy is engaged in discussions with interested potential strategic partners, and with regards to various financing alternatives. Pure Energy’s board of directors is focused on the successful advancement and development of the CV Project. The Company appreciates the continued support of its shareholders, and the companies and individuals who are working closely with Pure Energy towards achieving this goal in a difficult market.
Walter Weinig, Professional Geologist and Qualified Person as designated by the Mining and Metallurgical Society of America (MMSA registration #01529QP), is a qualified person as defined by NI 43-101 and supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Weinig is not independent of the Company as he is a former officer.
About Pure Energy Minerals Limited
Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. The Company is developing the CV Project in Clayton Valley, Nevada, where it has completed a Preliminary Economic Assessment (“PEA”) (news releases of June 26, 2017 and April 5, 2018). The lithium-bearing brines identified at the CV Project are of high quality with very low impurity levels, amenable to conventional pumping.
On behalf of the Board of Directors,
“Mary L. Little”
Director, Pure Energy Minerals Ltd.
Cautionary Statements and Forward-Looking Information
The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release may include future exploration and development on the CV Project. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
The Company does not undertake to update any forward-looking information, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined under the U.S. Securities Act) absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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