PURE Energy Minerals Provides Update ON the Clayton Valley Project
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PURE ENERGY MINERALS PROVIDES UPDATE ON THE CLAYTON
VALLEY PROJECT
November 26, 2019 – Pure Energy Minerals Limited (TSX VENTURE:PE) (OTCQB:PEMIF) (the “ Company” or
“Pure Energy”) is pleased to report on the resumption of activities at its 100% -held Clayton Valley lithium brine
project (“CV Project”) located in Esmeralda County, Nevada.
Pure Energy ’s strategic partner, Schlu mberger Technology Corporation (“SLB”) has begun the initial steps to
advance its option to test, develop and acquire the CV Project. In May of 2019, Pure Energy and SLB signed an
Earn-In agreement over the CV Project which requires significant investment by SLB at the Project, to include the
design and construction of a pilot plant capable o f processing lithium-bearing brin es for high -quality lithium
hydroxide monohydrate (“lithium hydroxide” o r “LiOH∙H2O”) and/or lithium carbonate products at a specified
rate. SLB wi ll act as operator of the CV Project and will assume all costs and dir ection related to the project
during the earn -in period. SLB has a 3 -year period in which to achieve the goals to execute the Earn -In
Agreement.
Pure Energy published a Preliminary Economic Asse ssment study (“PEA”) for the CV Proj ect (news releases of
June 26, 2017 and April 6, 2018) which details the Project’s drilling results, brine testing and resource calculation
for a partial area of the CV project. The lithium-bearing brines identified at the Clayton Valley Project are of high
quality with very low im purity levels and have been shown by small scale pumping tests to be amenable to
conventional extraction. For further details, please refer to Pure Energy’s Annual General and Special Meeting
Management Information Circular dated April 4, 2019, available on Sedar.com.
SLB plans to utili ze both in -house and commercially available technology in the design of the CV pilot plant,
including several components derived from Pure Energy’s previous studies. SLB’s costs, technical parameters and
ultimate technology are anticipated to differ from the published PEA.
On January 3, 2019, the Nevada D ivision of Water Resour ces (“NDWR”) approved and gran ted a Finite Term
Water Right to Pure Energy, through its wholly-owned subsidiary Esmeralda Minerals LLC, for the extraction of up
to 50 acre-feet of water during a 5-year period from the CV properties. This water right is dee med sufficient for
brine testing requirements and SLB’s future pilot plant facility.
The Company also reports that all 2019 property maintenance payments to the Bureau of Land Management
(“BLM”) and Esmeralda County were made on schedule for the 948 claims which comprise the CV Project.
As preparation and project work by SLB proceed at the CV Project, Pure Energy plans to make periodi c updates
to shareholders. “Pure Energy is very pleased that Schlumberger is moving forward in the design and regulatory
steps for construction of the new p ilot plant. SLB brings significant capability and technical expertise to the CV
Project and is focused on the project’s potential,” stated Mary Little on behalf of Pure Energy.
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About Pure Energy
Pure Energy Minerals is a lithium resour ce developer that is driven to become a low- cost supplier for the
growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its Clayton Valley
Project in the Clayton Valley of central Nevada for the exploration and deve lopment of lithium resources,
comprising 948 claims over 23,360 acres (9,450 hectares), representing the largest min eral land holdings in the
valley. Pure Energy’s Clayton Valley Project adjoins and surrounds on three sides the Silver Peak lithium brine
mine operated by Albemarle Corporation.
The Company has completed a Preliminary Economic Assessment (“PEA”) for the Clayton Valley Project (news
releases of June 26, 20 17 and April 6, 2018) which includes an updated resource calculation and a preliminary
economic evaluation. The economic analysis presented in the PEA is based upon inferred mineral resources
only. Mineral resources that are not mineral reserves do not hav e demonstrated economic viability. The PEA is
preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to
have the economic considerations applied to them that would enable them to be categorized as min eral
reserves. There is no certainty that the Project envisioned by the PEA will be realized.
Quality Assurance
Walter Weinig, Professional Geologist and Qualified Person as designated by the Mining and Metallurgical
Society of America (MMSA registration #01529QP), is a qualified person as defined by National Instrument 43-
101 – Standards of Disclosure for Mineral Projects and supervised the preparation of the scientific and technical
information that forms the basis for this news release. Mr. Weinig is not independent of the Company, as he is a
former officer.
On behalf of the Board of Directors,
“Mary L. Little”
Director, Pure Energy Minerals Ltd.
CONTACT:
Pure Energy Minerals Limited (www.pureenergyminerals.com)
Email: [email protected]
Telephone: 604 608 6611
Cautionary Statements and Forward-Looking Information
The informati on in this news release contains forward looking statements that are su bject to a number of known and
unknown risks, uncertainties and other f actors that ma y cause actu al results to differ materially from those anticipated in
our forward-looking statements . Factors that could cause such differences include: changes in world c ommodity markets,
equity markets, costs and s upply of materials relevan t to the minin g industry, change in government and changes to
regulations affecting the mining industry. Forward -looking statements in this release may include future exploration and
development on the CV Project . Although we bel ieve the expectations refl ected in our f orward-looking statements are
reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
The Company does not undertake to update any forward-looking information, except as required by applicable laws.
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.