Dajin Signs Letter of Intent with Heliosx Corp.
NEWS RELEASE
DAJIN SIGNS LETTER OF INTENT WITH HELIOSX CORP.
Vancouver, BC - October 4, 2021 - Dajin Lithium Corp. ("Dajin") (TSXV: DJI) (OTCQB: DJIFF) (FSE: C2U1)
announces the signing of a Letter of Intent with HeliosX Corp. (“HeliosX” or “the Company”) which outlines the
initial framework of an amalgamation of both companies’ assets and liabilities. This business combination
transaction will be subject to Dajin’s shareholders approval at it’s Annual General and Special Meeting to be held
on October 29, 2021 and acceptance of the TSX Venture Exchange (please review Dajin’s AGM Information
Circular to be posted on SEDAR shortly) . All costs related to the completion of this merger will be the
responsibility of HeliosX. HeliosX has been financially supporting Dajin, with nearly $250,000 of loans, so that
Dajin’s Argentina and Nevada Lithium projects remain in good standing. It is anticipated that a Definitive
Agreement will be executed within the near term once all due diligence has been completed by both parties and all
necessary approvals have been received. Upon closing, the shareholders of HeliosX will receive 17,010,000
common shares of Dajin and HeliosX existing share purchase warrants will be converted to 10,080,000 share
purchase warrants of Dajin exercisable at $0.75 per share until August 5, 2023.
Transaction Background:
HeliosX is a private ESG positive mineral exploration and mining technology company that holds 311,900 acres of
Lithium brine exploration rights in Alberta. The company also has two consulting and licence agreements for high
value metal extraction technologies. HeliosX believes there is an application of the technologies that could be used
for Lithium brine extraction . The combined portfolio of HeliosX and Dajin’s exploration holdings in Nevada
(USA), Jujuy ( Argentina), and Alberta (Canada) would have over 5 50,000 acres of prospective Lithium brine
exploration acreage.
HeliosX is focused on generating near term cash flow and is currently undertaking a feasibility study to utilize its
extraction technology to construct a gold concentrates extraction facility in British Columbia . The processing
facility will utilize US FDA environmentally friendly Iodine versus Cyanide, which have identical recovery rates
for gold processing (independently verified). The company intends to be a leader in environmental technologies
for the mining sector, to encourage Canadian mining operators to move away from Cyanide contamination
processing to environmentally responsible iodine gold processing. HeliosX is currently in negotiations with one of
the world’s largest gold concentrate traders to secure both feedstock and offtake arrangements.
The Company also intends to utilize its extraction technologies to extract high value metals for residual tailings
associated with mining operations across Canada. The technology allows for enhanced extraction of contaminates
to assist with tailings remediation while extracting any residual high value metals. The Company’s management
team has significant experience partnering with First Nations, and plans to work with Treaty Nations for remediation
programs on historical tailings deposits.
Christopher Brown, P.Eng, President and CEO of HeliosX commented, “HeliosX shareholders are unanimously
behind this arrangement, as we believe the combined entity will enable acceleration of exploration activities in three
primary Lithium brine jurisdictions of Alberta, Nevada and Argentina. As a combined entity, we see the potential
to deliver near term revenue from environmentally friendly gold extraction technolog y, while modifying it for
potential applications for Lithium brine processing. In addition, HeliosX proven successful history of partnering
with First Nations for operations on treaty lands, will allow unprecedent access to new emerging regions of Lithium
exploration.”
-2-
Brian Findlay, President and CEO of Dajin comments, “ Myself and the Dajin Board of Directors are pleased that
we have entered into a merger agreement with HeliosX Corp ., a private company that holds mining extraction
technology with great potential. The acquisition of HeliosX will provide Dajin shareholders with a unique
opportunity to participate in an environmentally friendly extraction technology process whereby Iodine, instead of
Cyanide, can be used for the extraction of gold and has potential applications for Lithium brine processing. We
welcome Christopher Brown, P.Eng as well as his experienced tailings management and financial team to the Board
of Dajin.”
About HeliosX:
HeliosX Corp. is a private ESG focused mineral exploration and mining technology company holding 311,900
acres of Lithium brine exploration rights in Alberta, Canada and two high value metal extraction Consulting and
License agreements. One agreement is for the application of electrochemistry for a process to recover up to 98%
of the residual high value metals from refractory mine tailings and a second agreement is for a patented chemistry
technology that extracts valuable metals from conventional mine concentrates. HeliosX is currently undertaking a
feasibility study for a gold concentrate extraction facility in British Columbia, details of which will be provided in
the Management Information Circular to Dajin shareholders.
About Dajin Lithium:
Dajin Lithium Corp. is a Lithium exploration company with brine -based Lithium exploration projects located in
Argentina and Nevada. Dajin has announced exceptional Lithium brine assay results from 25 shallow pits ranging
from 281 mg/litre to 1,353 mg/litre, averaging 591 mg/litre on the Salinas Grandes salar in Jujuy province ,
Argentina (geochemical map). Dajin holds a 49% Joint Venture interest in 230,000 acres in Jujuy province with
Litica Resources S.A. , an operating subsidiary of Pluspetrol Resources Corporation, a major international
Argentinian oil and gas company.
In Nevada, Dajin holds a 100% interest in 403 placer mining claims covering 7,914 acres in the Teels Marsh valley of
Mineral County, Nevada. Dajin has acquired the water rights in the Teels Marsh valley and has received all of the
necessary permits for drilling, with engineered access roads and two large drill pads constructed. Dajin holds an earn-in
agreement with Lone Mountain Resources LLC, an affiliate of Lilac Solutions, Inc., to earn a 75% interest in Dajin’s
100% owned Alkali Lake Lithium project located 7 miles from Albemarle’s Silver Peak Lithium brine operation in
Clayton Valley, Esmeralda County, Nevada.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) do not accept any responsibility for the adequacy or accuracy of this news release.
For further information: Please contact:
Brian Findlay
President & CEO – Dajin Lithium Corp.
Telephone: (604) 681-6151
Email: [email protected]
Christopher Brown, P.Eng
President & CEO - HeliosX Corp.
Telephone: (403) 616-9818
Email: [email protected]