Lithium Corporation Signs LOI
Las Vegas, Nevada--(Newsfile Corp. - February 24, 2015) - Lithium Corp. (OTCQB: LTUM) "the Company" is pleased to announce that it has signed a Letter Of Intent (LOI) with Kingsmere Mining Ltd., which is the preliminary step whereby Kingsmere, or their appointee may choose to buy or option Lithium Corp.'s lithium brine properties in Nevada. The letter allows for a due diligence and election period until April 01st, 2015 with closing by April 15th 2015. The terms of the arrangement are to be finalized should Kingsmere elect to move forward.
"We are extremely pleased to be in the position where we may receive an offer on our lithium brine properties in Nevada, especially from Kingsmere Mining." stated company President Brian Goss, "Kingsmere is a private Nevada Corporation and I previously met the principals of the company through projects that my firm Rangefront Geological is involved in. I am excited that we might be able to expand our relationship with the group."
For further information with regard to Lithium Corp., please contact Tom Lewis at (775) 410-2206 or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corp. is an exploration company based in Nevada devoted to the exploration for new battery related resources throughout North America, looking to capitalize on opportunities within the ever expanding Lithium-Ion and next generation battery markets. The Company maintains a strategic alliance with Altura Mining, an ASX listed coal producer that has recently approved the divestiture of its' Mt. Weber iron asset, and the spin-off of its' coal assets into a Singapore listed company; Altura is also searching for off-take contracts for its 100% owned world-class Pilgangoora lithium pegmatite property in Western Australia.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.