March 10, 2022 — Pure Energy Minerals Ltd. (TSX Venture:PE; OTCQB:PEMIF) (“Pure Energy” or “the Company”) is pleased to announce the results of its Annual General Meeting held virtually on March 9, 2022.
A total of 12,031,392 common shares, representing 36.6% of the 32,872,233 outstanding shares of the Company, were voted by proxy at the meeting. All nominees for election as directors of the Company referred to in the Company’s Notice of Meeting and Information Circular dated February 10, 2022 were re-elected being Tyler Durham, Frank Wells, Mary Little, Michael Dake, Hua Huang and Joe Mullin. Shareholders also voted in favour of the re-appointment of Baker Tilly WM LLP as auditors of the Company for the ensuing year and the Company’s stock option plan. Following the meeting, the Board appointed committee members to the Audit, Compensation and Nominating and Governance committees.
About Pure Energy
Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its Clayton Valley Project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 950 claims over 23,360 acres (9,450 hectares), representing the largest mineral land holdings in the valley. Pure Energy’s Clayton Valley Project adjoins and surrounds on three sides the Silver Peak lithium brine mine operated by Albemarle Corporation.
Pure Energy’s strategic partner, Schlumberger Technologies Corporation (“SLB”), is the operator of the Clayton Valley Project. In May of 2019, Pure Energy and SLB signed an Earn-In agreement over the CV Project which requires significant investment by SLB at the Project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate (“lithium hydroxide” or “LiOH∙H2O”) and/or lithium carbonate products at a specified rate. SLB plans to utilize both in-house and commercially available technology in the design of the CV pilot plant. SLB’s costs, technical parameters and ultimate technology are anticipated to differ from the published PEA. For further details regarding SLB’s participation, please refer to Pure Energy’s Annual General and Special Meeting Management Information Circular dated April 4, 2019, available on SEDAR.com.
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 Clayton Valley 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.