Pure Energy Minerals Announces Completion of Acquisition of Clayton NE Claims
Pure Energy Minerals Announces Completion of Acquisition of Clayton NE
Claims
DENVER, Dec. 06, 2017 -- Pure Energy Minerals Limited (TSX VENTURE:PE) (OTCQB:PEMIF) (the “Company” or “Pure
Energy”) is pleased to announce the completion of its previously announced acquisition of 1,450 acres (587 hectares) of
unpatented claims in Esmeralda County, Nevada (the “Clayton NE Claims”). The Clayton NE Claims are contiguous with the
northern portion of the Company’s Clayton Valley Project (“CV Project”) and to Albemarle Corporation’s Silver Peak
Operations, the only producing lithium brine mine in North America. The Company’s CV Project now covers approximately
26,050 acres (10,542 hectares). For further details regarding the Clayton NE Claims and the terms of the acquisition, please
refer to the Company’s news release dated November 8, 2017.
Patrick Highsmith, President and CEO of the Company, commented, “ We are pleased to complete the purchase of 100%
interest in the Clayton NE claims. With this acquisition, Pure Energy now controls all the mineral rights in Clayton Valley
outside of the Silver Peak Mine that are known to host lithium brine. We look forward to incorporating these new lithium brine
bearing claims into our 2018 work program.”
The Company acquired the Clayton NE Claims from Advantage Lithium Corp. and Nevada Sunrise Gold Corporation (together
the “Vendors”) in consideration for the issuance of 7,000,000 common shares (the “Consideration Shares”). In addition to the
statutory four-month hold period, the Consideration Shares are subject to voluntary restrictions on trading for a period of 27
months, with partial quarterly releases commencing after 18 months. The Vendors have further agreed that for a period of 24
months following closing, they will vote their respective shares at meetings of shareholders of Pure Energy in favour of all
matters proposed by Pure Energy’s management.
The Company and each of the Vendors are at arm’s length. No finder’s fees were paid in connection with the transaction.
Quality Assurance
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702), is a qualified person as defined by NI 43-101, and
has supervised the preparation of the scientific and technical information in this news release. Mr. Highsmith is not
independent of the Company as he is an officer and director.
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. The Company is also exploring a
major new 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.
Pure Energy has developed core strengths in innovative development and processing technologies for lithium brines and lithium
mineral deposits. Key attributes and activities include:
• A large, strategic land position with excellent infrastructure in a first-class mining jurisdiction: approximately 10,542
hectares (26,050 acres) in Clayton Valley, Esmeralda County, Nevada, located a 3-hour drive from the Gigafactory;
• An inferred mineral resource of approximately 247,000 tonnes of lithium hydroxide (218,000 tonnes of LCE) at the
Clayton Valley Project with an average grade of 123 mg/L lithium;
• The only lithium brine resource in North America to yield a positive Preliminary Economic Assessment including an
estimated after-tax NPV (8% discount) of US $264 million and an estimated IRR of 21%;
• Advanced metallurgical testwork demonstrating the improved efficacy of a new, environmentally responsible lithium
processing technology that produces low-cost battery grade lithium hydroxide;
• An early stage exploration program on the 13,000-hectare (32,000 acre) Terra Cotta Project (TCP), located on Pocitos
Salar in Salta Province; and
• An active business development program, applying Company expertise to the evaluation of new lithium targets around
the world.
On behalf of the Board of Directors,
“Patrick Highsmith”
Chief Executive Officer
CONTACT:
Pure Energy Minerals Limited (www.pureenergyminerals.com)
Email: [email protected]
Telephone – 604 608 6611, ext 5
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, successful development of a new lithium process,
and future exploration on the CV 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.
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.