New Energy Metals Acquires Lithium Project IN Chile
#2300 – 1177 West Hastings Street, Vancouver, BC, Canada, V6E 2K3
Phone: 604-484-1232 / Fax: 604-408-7499
NEW ENERGY METALS ACQUIRES LITHIUM PROJECT IN CHILE
NR18-10 May 30, 2018
Vancouver, B.C., May 30, 2018 – “New Energy Metals Corp.” (“New Energy Metals” or the
“Company”) (TSX.V: ENRG) announces that it has entered into an option agreement (the
“Lithium Agreement”) to acquire a 100% interest in a lithium pr oject (the “Atacama Lithium
Project”) located in the Atacama salar district in northern Chile.
New Energy Metal’s President and Chief Executive Officer, Grant Ewing, said “We are excited
with the opportunity to acquire a project in a region recognized as having the world’s highest grade
and largest producing lithium brine salt flat. This opportunity is viewed as a strategic acquisition
by the Company as it believes that potential value creation opp ortunities could arise in the future
as a result of the transaction.”
Atacama Lithium Project Highlights
The Atacama Lithium Project is located in the Salar de Atacama district, recognized as one of the
highest grade and largest producing lithium brine regions. The Atacama Salar hosts a significant
portion of the world’s known lithium reserves and produces appr oximately one third of global
lithium output from two production facilities operated by Socie dad Quimica y Minera (“SQM”)
and Rockwood Lithium (Albemarle). The favourable characteristi cs of the salar, including: high
grade lithium and potassium, high evaporation rate, and low rai nfall make Atacama’s lithium
production highly efficient versus other producing regions (source: U.S. Geological Survey).
Current production occurs in the southern portion of the Salar. The Company’s Atacama Lithium
Project concessions cover an area of approximately 66,000 hecta res and are located in the
southeastern part of the district (see Figure 1). The proximit y of the Atacama Lithium Project to
existing production indicates the exploration potential for the discovery of brines in the eastern
and southern areas of the district, underlying portions of the Company’s Atacama Lithium Project.
Summary of Lithium Agreement
Under the terms of the Lithium Agreement, the Company can earn a 100% interest in the Atacama
Lithium Project through the following cash and share payments:
NR18-10 Continued 2 May 30, 2018
Atacama Lithium Project
The Atacama Lithium Project is not subject to underlying royalties. During the option period, the
Company will be responsible for maintaining the concessions com prising the project in good
standing. There are no work commitments and all work carried o ut on the project will be at the
sole discretion of the Company.
The Lithium Agreement is subject to the approval of the TSX Venture Exchange.
About The Company
New Energy Metal’s principal project is the Cristal copper project located in northern Chile. The
Company has entered into agreements to acquire several prospective cobalt projects in Chile’s past
producing San Juan cobalt district, and a lithium project in Chile’s prolific Atacama salar district.
The recent name change to “New Energy Metals Corp.” reflects the Company’s corporate strategy
of exploration and development of energy metals in Chile.
Qualified Person
Mr. Grant Ewing, P.Geo., is a qualified person as defined by Na tional Instrument 43-101. Mr.
Ewing and has reviewed the scientific and technical information that forms the basis of this news
release and has approved the disclosure herein. Mr. Ewing is not independent of the Company.
On behalf of New Energy Metals Corp.
Grant Ewing, President & CEO
T: 604.484.1232
W: www.newenergymetals.ca
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking Statements
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information
contained herein. This News Release includes certain “forward- looking statements”. Other than statements of
historical fact, all statements included in this release, including, without limitation, statements regarding future plans
and objectives of New Energy Metal s Corp., are forward-looking statements that involve various risks and
Date Amount (US$) Shares
On Signing US$550,000 550,000 shares
January 2019 US$1,600,000 1.6M shares
January 2020 US$2,000,000 2M shares
January 2021 US$2,200,000 2.2M shares
January 2022 US$3,000,000 3M shares
Total US$9,350,000 9,350,000 shares
NR18-10 Continued 3 May 30, 2018
uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such s tatements. Important factors that could cause actual
results to differ materially from New Energy Metal’s expectations are the risks detailed herein and from time to time
in the filings made by New Energy Metals Corp. with securities regulators. Those filings can be found on the Internet
at http://www.sedar.com.
ENRG’s Project: 66,000 Hc. in
the SE portion of the district