Rain City Resources Inc. (CSE: RAIN) Announces MOU
RAIN CITY RESOURCES INC.
142 – 757 West Hastings St. Vancouver, BC V6C 1A1
Rain City Resources Inc. (CSE: RAIN) Announces MOU with Advanced Mining
Technology Center of University of Chile
Partnership to focus on direct-lithium-extraction technology (DLE)
Wednesday, October 23, 2024 – Vancouver, BC – Rain City Resources Inc. (RAIN:CSE) (the
“Company” or “RAIN”) announces it has entered into a Memorandum of Understanding (“MOU”)
with the Advanced Mining Technology Center (AMTC) of the University of Chile. AMTC is the
leading research center in Chile in technology applied to mining, whose mission is to generate world
class multidisciplinary research and transfer new technologies in response to the challenges of mining
in Chile.
Chile ranks as the second- largest lithium producer in the world accounting for about 24% of global
production. Partnering with AMTC allows Rain to collaborate with some of the nation’s top talent and
expertise. The objective of this collaboration is to promote the advancement of environmentally
responsible extraction of lithium and associated by-products from salars in Chile.
The partnership between Rain and AMTC will focus on strategic areas of DLE including:
a) collaboration on opportunities in joint Research and Development (R&D) projects;
b) evaluation of defined projects and processes;
c) support in process certification through technical studies and access to AMTC laboratories and
technicians for analysis of samples taken from Rain’s Chilean projects;
Benjamin Hill, CEO of Rain commented:
“It is a tremendous privilege to collaborate with AMTC and the University of Chile. This MOU aligns
perfectly with Rain’s objectives to position the ACCELi technology as one of the most environmentally
friendly and lowest cost lithium extraction methods globally. We also welcome the opportunity to
bridge relationships between Canada and Chile in the DLE sector and look forward to a cooperative
and productive relationship.”
About AMCT
AMCT was founded in 2009 in the Faculty of Physical Sciences and Mathematics at the University of
Chile and supports more than 170 researchers including academics and graduate students. In addition
to partnerships with private sector mining exploration and production companies, AMTC has also
developed significant cooperation agreements and joint research initiatives with government agencies,
and research and technology centres worldwide. In 2021, AMTC executed a technological development
agreement with Codelco, Chile’s state-owned mining company, with a mandate to drive innovation and
address environmental challenges in the mining sector.
About Us:
Rain City is an integrated lithium technology and project development company committed to solving
the environmental, social, and economic issues associated with extracting lithium from brine. Adapting
technology which has already been proven in the oil fields with over 20 million barrels of water treated,
to one of DLE, will, we believe, provide a step-change in the cost of lithium production, with an industry
leading footprint and with little to no water use.
FOR FURTHER INFORMATION CONTACT:
Benjamin Hill David Shaw
Chief Executive Officer Chairperson
2
RAINCITY RESOURCES INC.
Website: www.raincityresources.com
Email: [email protected]
Telephone: 778-819-3792
Cautionary Statement Regarding Forward-Looking Information
Forward-Looking Statements This news release may include certain "forward -looking statements"
under applicable Canadian securities legislation. Forward- looking statements include, but are not
limited to, statements with respect to: working to position the Company’s ACCELi technology as one
of the most environmentally friendly and lowest cost lithium extraction methods globally, Direct
Lithium Extraction processes and technology ; the business and operations of the Company and
associated operational forecasts. Forward looking statements are based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future events to differ mat erially from those
expressed or implied by such forward-looking statements. Such factors include, but are not limited to:
general business, economic, competitive, political and social uncertainties; delay or failure to receive
board, shareholder or regulatory approvals; uncertainties surrounding renewable energy and the lithium
production industry. There can be no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward- looking statements. The Company disclaims any
intention or obligation to update or revise any forward- looking statements, whether as a result of new
information, future events or otherwise, except as required by law. There can be no assurance that
proposed operations will be successful or that the anticipated financial, economic or strategic benefits
will be realized.
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the
adequacy of accuracy of this news release.