LiCo Energy Metals Closes Acquisition of Black Rock Desert Lithium Project in Nevada
1220-789 West Pender St
Vancouver BC V6C 1H2
Phone : (236) 521-0207
LiCoEnergyMetals.com
LiCo Energy Metals Closes Acquisition
of Black Rock Desert Lithium Project in Nevada
PRESS RELEASE
January 6, 2017 - Vancouver, British Columbia – LiCo Energy Metals Inc. “The Company” or
“LiCo” TSV-V: LIC OTCQB: WCTXF announces that further to its news releases dated November
11, 2016 and December 15, 2016 and further to the conditional acceptance from the TSX
Venture Exchange (the “Exchange”) dated January 5, 2017 pursuant to an Option Agreement
dated November 10, 2016 (the “Agreement”) between the Company and Nevada Energy Metals
Inc. (“Nevada”), whereby the Company can earn an undivided 70% interest, subject to a 3% net
smelter return royalty (“NSR”), in 199 placer claims located in southwest Black Rock Desert,
Nevada, the transaction has now closed, subject to final acceptance from the Exchange.
Pursuant to the terms of the Agreement, the Company will pay to Nevada a total of
USD$170,000 (US$20,000 upon signing the Agreement and US$150,000 upon Exchange
approval). The Company will also issue to Nevada 1,500,000 shares upon Exchange approval.
In year one the Company will issue to the Nevada 1,500,000 shares followed by an additional
1,500,000 shares in year two. The Company is also subject to a US$1,250,000 work
commitment on or before the three year anniversary date.
A cash finder’s fee of $75,000 will be paid in connection with the transaction.
All shares issued will be subject to a four month and a day hold period. The 1,500,000 shares to
be issued upon Exchange approval will be subject to a four month and a day hold period
expiring on May 7, 2017.
About the Black Rock Desert Property:
The western arm of the Black Rock Desert covers an area of about 2,000 square kilometers and
contains 5 of the 30 currently listed Known Geothermal Resource Areas in Nevada. The
Property covers an area of playa underlain by a moderately deep basin interpreted from gravity
and seismic surveys indicating a maximum thickness of valley-fill deposits of about 1,200 m/
3,600 ft. A high salt content prevents any significant vegetation from growing on the playa
surface. Locally, the basin is being fed in part by boiling springs and siliceous sinter containing
strongly anomalous Lithium values (5mg/l) that flank the property on the west side. (U.S.
GEOLOGICAL SURVEY Open-File Report 81-918.) While these lithium values are well below
those of producing lithium brines, they do represent a significant source of metal available for
evaporative concentration within the playa basin.
Qualified Person: The technical content of this news release has been reviewed and approved
by Alan Morris CPG, Elko, Nevada
2
About LiCo Energy Metals: http://licoenergymetals.com/
LiCo Energy Metals Inc. is a fully funded Canadian based exploration company who's primary
listing is on the TSX Venture Exchange. The Company's focus is directed towards exploration for
high value metals integral to the manufacturing of lithium ion batteries.
The Company has entered into a non-binding Letter of Intent (LOI) with Durus Copper Chile Spa
of Santiago, Chile where the Company can earn a 60% interest in the Purickuta Lithium
Exploitation Concession located within Chile’s Salar de Atacama, the worlds larges and purest
active source of lithium. The Purickuta Project consist of 160 hectares and is one of a few
“exploitation concessions” granted within the Salar de Atacama, home to approximately 37% of
the worlds Lithium production. The property is contained within an existing exploitation
concession owned by Sociedad Quimica y Minera (“SQM”), and lies approximately 3 km north
of the exploitation concession of CORFO (the Chilean Economic Development Agency). About
22 km south-east from the Purickuta Concession, both SQM and Albemarle Corp. have large-
scale production facilities within the CORFO concession mentioned above. The LOI which will be
superseded by a definitive option agreement, is subject to TSX Venture Exchange Approval.
The Company has an option to earn 100% ownership, subject to a royalty, in the Teledyne
Cobalt Project located near Cobalt. Ontario. The Property adjoins the south and west
boundaries of claims that hosted the Agaunico Mine. From 1905 through to 1961, the Agaunico
Mine produced a total of 4,350,000 lbs. of cobalt and 980,000 oz. of silver. A significant portion
of the cobalt that was produced at the Agaunico Mine located along structures that extended
southward onto property currently under option to LiCo Energy Metals.
In addition, LiCo Energy Metals has an option to acquire a 100% interest, subject to a 3% NSR,
on a large lithium exploration project at the Humboldt Salt Marsh in Dixie Valley, Nevada. The
geologic setting and presence of lithium in active geothermal fluids and surface salts in Dixie
Valley match characteristics of producing lithium brine deposits at Clayton Valley, Nevada and
in South America.
The Company is planning an exploration programs for all its properties over the next several
months.
On Behalf of the Board of Directors:
Rick Wilson, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments that
involve future events and conditions such as Exchange approval of the Option Agreement and the Company’s ability
to exercise the Option, which are subject to various risks and uncertainties. Except for statements of historical facts,
comments that address resource potential, upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, an d others are forward-looking. Forward-looking
statements are not guarantees of future performance and actual results may vary materially from those
statements. General business conditions are factors that could cause actual results to vary materially from forward-
looking statements.