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DENVER, CO – (January 2, 2019) – Pure Energy Minerals Limited (TSX VENTURE:PE) (OTCQB:PEMIF) (the “Company” or “Pure Energy”) is pleased to announce that it has received a water right from the Nevada Division of Water Resources (“NDWR” or “State Engineer”) to extract the lithium-bearing brine needed for operation of the planned pilot plant at its flagship Clayton Valley Project (“CV Project”). The State Engineer granted Pure Energy’s application, through its wholly-owned subsidiary Esmeralda Minerals LLC, for a finite-term water right with the total withdrawal not to exceed 50 acre-feet over a five-year period.
The water right provides the permit necessary to pump brine from the Clayton Valley aquifer and deliver the brine to the planned pilot plant for pilot-scale production of lithium hydroxide monohydrate (LiOH•H2O or “lithium hydroxide”). Pure Energy plans to operate the pilot plant for a period of six to 12 months to further evaluate the innovative process technology proposed for extraction of lithium from brine and production of lithium hydroxide at the CV Project. Data from a successful pilot plant trial will be used in the design of a full-scale commercial plant to produce LiOH•H2O directly from Clayton Valley brine. The Company’s news release of May 31, 2018 provides more detail regarding the design and objectives of the pilot plant.
Walter Weinig, Pure Energy’s Vice President for Projects and Permitting, explained, “This water right is a key milestone in the development of the Clayton Valley Project. As the State Engineer pointed out in his ruling, obtaining water rights approval is often a first step in obtaining other government approvals for a project. While the 20,000 acre-feet per year of available water rights in Clayton Valley are fully appropriated, about 10,000 acre-feet go unused annually. Our finite-term water right of 50 acre feet in total, to be used within five years, is a tiny fraction of the unused appropriation. We are pleased to receive the right to put this small amount of brine to beneficial use in the next step toward developing a project that could provide significant economic benefits to Esmeralda County and the State of Nevada.”
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 an officer.
The Company also announces that Mr. Weinig will be assuming a new role as Technical Director for Pure Energy’s projects. Working under contract to the Company, he will continue to lead the technical work on Pure Energy’s projects including the CV Project. As part of this change, Mr. Weinig will resign from his position as Vice President for Projects and Permitting. These changes will take effect on January 7, 2019.
Pure Energy’s Board thanks Mr. Weinig for his many contributions during the last two years and looks forward to working with him as the Company moves the CV Project forward.
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 contain very low levels of deleterious elements and have been shown by small scale pumping tests to be amenable to conventional extraction. The Company is also exploring a lithium brine project in the Lithium Triangle of South America, the Terra Cotta Project (“TCP”). The TCP is located on Pocitos Salar in Salta, Argentina, where it enjoys some of the best infrastructure and access of any lithium brine exploration project in Argentina.
On behalf of the Board of Directors,
“Mary L. Little”
Director, Pure Energy Minerals Ltd.
Pure Energy Minerals Limited (www.pureenergyminerals.com)
Telephone – 604 608 6611
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 the Company’s intentions to build and operate a pilot plant on the CV Project, plans for extracting brine at the CV Project, and producing economic benefit from the CV Project, as well as future exploration and development on the CV Project and the Terra Cotta 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.