PURE Energy Minerals Closes Purchase Option Agreement ON Terra Cotta Project, Argentina
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VANCOUVER,
OTCQB: PEM
purchase opti
2017. The Com
“Agreement”)
Argentina (the
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ERALS CLOS
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ure Energy Mi
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g concessions
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HASE OPTI
T, ARGENT
ed (TSX VENTU
announce tha
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agreement u
ares (32,000 a
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of 2017.
h Puna Region
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EMENT
ANKFURT: A11
ed its acquisit
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the salar and
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rra Cotta Proj
n Argentina m
g industry pla
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of the Pocitos
results in the
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Page 2
Number of Common Shares Amount of payment (US $) Date / Event
‐‐ $25,000 Paid
‐‐ $175,000 Within 5 days of the Agreement
(the “Agreement Date”)
600,000 $200,000 Within 5 days of TSX Venture
Exchange approval or within 120
days of the Agreement Date
900,000 $600,000 Within 180 days of the Agreement
Date
1,500,000 $1,000,000 Within 12 months of the
Agreement Date
3,000,000 $2,000,000 Within 24 months of the
Agreement Date
6,000,000 US $4,000,000
Upon full execution of the option, the Company will obtain a 100% beneficial interest in the Properties. Should
the option be fully executed and the Company elect to proceed with a feasibility study or to commence
production, an additional cash bonus payment of US $1,000,000 will be due to the vendors. The Properties are
not subject to any royalties in favour of the vendors. The Agreement was negotiated at arm’s length. The
Company expects to pay a finder’s fee in conjunction with this transaction.
The Agreement is subject to approval by the TSX Venture Exchange. The Company has commissioned a Technical
Report, to be prepared in accordance with National Instrument 43‐101, which will document various details of
the Terra Cotta Project and demonstrate it status as a project of merit.
Historical Technical Data
These data are historical in nature and the Company is not treating the historical sample results as its own, but
the results are summarized here to provide historical context for some of the previous lithium exploration work
conducted at Pocitos Salar.
During 2010, a non‐Canadian reporting issuer announced the results of a surface exploration program on its
optioned concessions on Pocitos Salar, portions of which now comprise the Properties. The samples were
collected by the technical team of Lacus Minerals, Inc., the optionor of the property. It was reported that the
samplers collected the fluid samples on a GPS controlled grid, with sample intervals and line spacings of
approximately 1km. Small sampling pits were excavated at each sample site and following a period of recharge
and settling, the samplers collected the resulting groundwater at a depth ranging from 20 to 30 cm below the
water table. The samplers shipped the samples to Alex Stewart Laboratories in Mendoza, Argentina, an
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Page 3
internationally accredited laboratory, for analysis by a standard EPA method for the determination of metals in
waters.
A total of 46 samples were collected in the first pass program. The sampling program, as reported, resulted in
the delineation of an East Anomaly and a West Anomaly. The East Anomaly, the heart of which lies within the
Properties that are the subject of this Option, returned lithium concentrations ranging from 100 ppm to 300
ppm and having a magnesium to lithium ratio (“Mg:Li”) of 3. The potassium concentration on the East Anomaly
ranged from 1,000 ppm to 7,000 ppm. The parties reported that while the known extent of the East Anomaly as
determined by their sampling program was approximately 6 kilometres (3.6 miles) long by 2 kilometres (1.2
miles) wide, the full areal extent of the anomaly was unknown and could be larger.
The West Anomaly, of which only a small portion lies on the Properties that are the subject of this Option,
included lithium concentrations ranging from 100 ppm to 200 ppm and having Mg:Li of 10. The potassium
concentration of the West Anomaly ranged from 1,000 ppm to 5,000 ppm. The West Anomaly was described as
having a similar scale as the East Anomaly, but its full areal extent was unknown.
These initial reports from a previous explorer of these Pocitos concessions were approved by Mr. David G. Wahl,
P.Eng., P.Geo., a qualified person as defined by Canadian National Instrument 43‐101. Based on those news
releases and other summaries of the previous work, the Company believes these data to have been collected
according to professional standards. However, again, the reader is cautioned that the data are considered
historical in nature and the Company is not treating the data as its own. The Company has already commenced
technical due diligence on the Properties, which will include field visits.
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 that forms the basis for this
news release. Mr. Highsmith is not independent of the Company as he is an officer and director.
About Pure Energy Minerals Ltd.
Pure Energy is a lithium resource developer that is driven to become a low‐cost supplier for the burgeoning
lithium battery industry. The Company is currently focused on the development of the CVS Lithium Brine Project
and the adjoining Glory Lithium Clay Project in Clayton Valley, Nevada. Pure Energy also recently announced the
acquisition of a purchase option on 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 the country.
Pure Energy has developed core strengths in innovative development and processing technologies for lithium
brines and lithium mineral deposits. The Company’s key attributes and activities include:
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Generating positive results on a large land position with excellent infrastructure in a first‐class mining
jurisdiction: approx. 11,000 acres in four main claim groups in Clayton Valley, Esmeralda County, Nevada;
The only lithium brine resource in North America except for its neighbor, which is the only producing
lithium operation in the United States (Albemarle’s Silver Peak lithium brine mine);
An inferred mineral resource containing approximately 816,000 metric tonnes of Lithium Carbonate
Equivalent (LCE) at an average grade of approximately 102 mg/L lithium, reported in accordance with NI
43‐101 (see July 2015 Inferred Resource Report);
An advanced program of testing the efficacy and economics of modern environmentally‐responsible
processing technologies to convert the CVS brines into high purity lithium products for new energy
storage uses;
A new early stage exploration program on the 13,000 hectare Terra Cotta Project (TCP), located on
Pocitos Salar in Salta Province; and
An active business development program, applying its 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 Statements: 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 statements regarding the fulfilment of the Company’s
obligations under the Agreement, the preparation of the technical report in respect of the Properties, the
approval of the Agreement by the TSX Venture Exchange, mineral processing, adaptation of test work to larger
scale and/or future operational scales, estimates of reduced future capital and operating expenses, delivery of a
preliminary economic assessment, future exploration programs, operation plans, geological interpretations, and
mineral tenure issues. 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