Standard Lithium Signs Agreement to Secure Lithium Rights with Permitted Brine Producer at Bristol Lake, Mojave, California
STANDARD LITHIUM LTD.
Suite 888, 1100 Melville Street
Vancouver, British Columbia
V6E 4A6
NEWS RELEASE
STANDARD LITHIUM SIGNS AGREEMENT TO SECURE LITHIUM RIGHTS WITH
PERMITTED BRINE PRODUCER AT BRISTOL LAKE, MOJAVE, CALIFORNIA
May 4th, 2017 – Vancouver, BC – Standard Lithium Ltd. (“Standard Lithium” or the “Company”)
(TSXV: SLL) (FRA: S5L) is pleased to announce today that its wholly owned subsidiary, California
Lithium Ltd, has signed a definitive agreement (the “Agreement”) with National Chloride Company of
America (“National Chloride”), a private California company, whereby National Chloride will grant
Standard the option to conduct lithium exploration, development and production activities, in
accordance with existing longstanding Federal and State mining permits and claims held by National
Chloride in California.
National Chloride’s Bristol Lake placer mineral claims cover approximately 12,600 acres and lie
adjacent and contiguous to Standard Lithium’s recently acquired 4,000+ acre Mojave Lithium Project.
In addition, as part of the Agreement, Standard Lithium has an option to lease access to approximately
3,000+ acres of private land held on Bristol Lake by N ational Chloride and its affiliates. Standard
Lithium’s combined property l ies on Bristol Lake playa in the Mojave Desert of southeastern San
Bernardino County, California.
National Chloride and others have mined the near-surface brines to produce concentrated chloride
products for various industrial applications for close to 100 years and as a result the area has excellent
mining infrastructure. There is electric power and water on the property. A major paved road crosses
the western edge of the property. There is a rail siding within 5 km, as well. The property is situated
approximately 200 km from Las Vegas, and 330 km of the port of Los Angeles.
Working with National Chloride, an experienced and established operator, should reduce and or
eliminate much of the initial permitting requirements that most explorers face. This strategic
relationship will allow the Company immediate access to conduct exploration brine sampling and
extraction, evaporation and processing activities.
Mr. Robert Mintak, CEO and Director of Standard Lithium commented “This transaction represents
the first step in executing the Company's development strategy o f maximizing opportunity w hile
minimizing risk and unlocking and creating value from resources the industry h as never considered
before.” Mr. Mintak added “This is the first stage of our plan of building a large domestic resource of
lithium assets that we feel will receive a premium valuation for strategic buyers because of lower
political risk and costs.”
The dry salt lake playa covers a total area of 155 km2, and hosts a geologically recent volcanic centre,
similar to other productive lithium brine playas. S tandard Lithium’s geophysics team has recently
concluded an extensive gravity s urvey o ver the entire basin, and initial interpretation of the data
suggests that the basin is deep and extensive. Historical drilling and sampling to total depths of
approximately 5 00 ft has produced brine samples with significant lithium values. F or further
information on the Mojave project please see Standard Lithium’s Technical Report compiled in
accordance with National Instrument 43-101 dated September 15, 2016 and available under the
Company’s profile on SEDAR (www.sedar.com).
Transaction Terms
Under the terms of the agreement reached with National Chloride, the Company will be granted the
rights in consideration for a series of cash payments and share issuances, as well as certain ongoing
royalties tied to lithium production from the properties. Cash payments and share issuances are owing
to National Chloride along the following terms:
Closing: 100,000 common shares of the Company.
Six-months Following Closing: A cash payment of US$50,000 and a further 100,000 common
shares of the Company.
Each Anniversary of Closing: Five annual cash payments of US$100,000 and share issuances
of 200,000 common shares of the Company, and which annual
cash payments will continue until completion of a bankable
feasibility study on the properties.
Completion of Pre-Feasibility Study
on the Properties:
A cash payment of US$250,000 and a further 500,000 common
shares of the Company.
Completion of Bankable Feasibility
Study on the Properties:
A cash payment of US$1,000,000.
Following successful completion of the above payments and share issuances, the Company will pay a
two percent royalty on gross revenue derived from the properties to National Chloride, subject to a
minimum annual royalty payment of US$500,000. Completion of the transaction and the issuance of
securities remains subject to the approval of the TSX Venture Exchange. A ll securities issued in
connection with the transaction will be subject to a four-month-and-one-day statutory hold period.
Quality Assurance
Raymond Spanjers, Certified Professional Geologist, is a qualified person as defined by National
Instrument 43-101, and has supervised the preparation of the scientific and technical information that
forms the basis for this news release. Mr. Spanjers is not independent of the Company as he is an
officer in his role as Vice President, Exploration and Development.
About Standard Lithium
Standard’s value creation strategy encompasses acquiring a diverse and highly prospective portfolio of
large-scale domestic brine resources, led by an innovation & results oriented management team with a
strong focus on technical skills. The Company is currently focused on the exploration of its 16,000+
acre Bristol Lake, Brine Project located in the Mojave region of San Bernardino County, California.
The location has significant infrastructure in-place, with easy road and rail access, abundant electricity
and water sources, and is already permitted for extensive brine extraction and processing activities.
Standard also recently announced the acquisition of the 40,000+ acre Paradox Basin Project located in
Grand County, Utah.
For further information, contact Anthony Alvaro at 604.763.5388.
On behalf of the Board,
Standard Lithium Ltd.
Robert Mintak, CEO & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities
laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify
forward-looking statements or information. These forward-looking statements or information may
relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves
or resources, regulatory or government requirements or approvals, the reliability of third party
information, continued access to mineral properties or infrastructure, fluctuations in the market for
lithium and its derivatives, changes in exploration costs and government regulation in Canada and the
United States, and other factors or information. Such statements represent the Company’s current
views with respect to future events and are necessarily based upon a number of assumptions and
estimates that, while considered reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social risks, contingencies and uncertainties. Many
factors, both known and unknown, could cause results, performance or achievements to be materially
different from the results, performance or achievements that are or may be expressed or implied by
such forward-looking statements. The Company does not intend, and does not assume any obligation,
to update these forward-looking statements or information to reflect changes in assumptions or
changes in circumstances or any other events affections such statements and information other than as
required by applicable laws, rules and regulations.
Neither the Company, nor National Chloride makes any representations as to the value of lease rights
associated with National Chloride’s Bristol Lake mineral claims (the “Property”), the availability of
any particular resource or minerals on the Property, or the merits of any proposed exploration work to
be completed on the Property. National Chloride expressly disclaims any responsibility for the
adequacy or accuracy of disclosure made by the Company in respect of the Property. Readers are
cautioned that a “Qualified Person”(as that term is defined by National Instrument 43-101 –
Standards of Disclosure for Mineral Projects) has not done sufficient work to specify any mineral
resource or reserve on the Property.