Southern Lithium Corp. Announces New CEO
VANCOUVER - Southern Lithium Corp. (TSX-V: SNL FSE: SL5) ("Southern" or "the Company") is pleased to announce that Clive H. Massey will be filling the position of Chief Executive Officer ("CEO") effective immediately. In addition to the role of CEO, Mr. Massey will also continue to serve as a director on the Company's board. Mr. Massey has over 27 years of public relations and marketing experience with both public and private companies in the mining industry including business development, strategy, resource assessment, and mineral exploration and government relations. He has a strong understanding of the equity markets and has been involved in both debt and equity financings of up to $60 million and has also held directorships for various Toronto Stock Exchange Venture listed companies.
Mr. Massey has been the President and CEO at Aldever Resources Inc. since February 2015. He serves as the CEO, President and Director at Windfire Capital Corp. since 2011. He served as the CEO and President of Redhill Resources Corp. (now Millennial Lithium Corp.) from January 2012 to October 2012. Mr. Massey was co-founder and CEO and Director of Prescient Mining Corp from March 2007 to August 2008. Mr. Massey co-founded and served as President and CEO of Universal Uranium, (now Expedition Mining Inc.). From 2005 to 2007 he coordinated the public relations programs for several successful public companies including Lumina Copper Corp. which was purchased by Teck ComInco Ltd. Previously, he served as Head of Investor Relations and Director of Corporate Communications at Inca Pacific Resources Inc. Mr. Massey has held management or investor relations positions with Greystar Resources, Marafill Mines, Everett Resources Ltd. and The North Air Group of Companies. Mr. Massey has also be involved as a consultant with public companies in various sectors of industry including manufacturing, financial services and high tech.
Lawrence Segerstrom, President of Southern Lithium stated, "I would like to congratulate Clive and look forward to working closely with him on advancing the business objectives for the Company. His experience both in the capital markets and the mining industry, will be of great value to the company in the role of CEO."
About the Cruz Property
Through its joint venture partner Millennial Lithium Corp. (TSX-V: ML) (OTCQB: MLNLF), the Company has executed a formal option agreement with Proyecto Pastos Grandes S.A. ("PPG SA"), a wholly owned subsidiary of Millennial, to be granted an option to acquire an eighty percent (80%) interest in the PPG SA's Cruz Property in the Pocitos Salar Basin in Salta Province, Argentina.
The Cruz Property is located in the heart of South America's Lithium Triangle (northern Chile, northwestern Argentina and southwest Bolivia). The property encompasses 2,500 hectares in the Pocitos salar basin in Salta Province, Argentina, and lies 11 kilometers south of ADY Resources Limited's lithium brine resource in the Salar del Rincon Basin.
The Cruz property is adjacent to the Rincon volcanic center that defines the southern limit of the Rincon salar basin, where ADY Resources Limited is extracting lithium brine, and the northern limit of the Pocitos salar basin, where the Cruz property is located. Both properties lie along the structural belt that hosts the important lithium resources of the region, and at the junction of a large north-south fault system and the northwest-southeast megastructure along which lies the Rincon volcano, the possible source of the lithium brine in both salar basins.
The 60-kilometer long Pocitos salar basin has previously only been drill tested with a shallow 12-hole program in the 1970s, by an Argentinean government agency "Direccion General de Fabricaciones Militares". To date, this is the only confirmed exploration drilling conducted in the Pocitos basin. The hole that produced the best results is near the southeast edge of the Cruz property boundary, and averaged 417 parts per million; note that these results are considered historical and cannot be confirmed under NI 43-101 standards.
About Southern Lithium Corp. (TSX-V: SNL FSE: SL5)
Southern Lithium Corp. is a resource exploration company engaged in the business of acquiring and exploring minerals properties. Southern Lithium Corp. has assembled an experienced management team with a growth strategy to develop portfolio of Lithium projects. The Company's main objective is to add shareholder value through exploration and development of high quality resources through strategic acquisitions, joint ventures, and marketing while maintaining a lower risk profile through project diversification and sound, cost-effective financial management. With the potential acquisition of the Cruz property, Southern Lithium intends to establish its presence in the Pocitos basin and further deliver on its mission to secure technically superior lithium projects. The Company is only focusing on projects of the highest technical merit in favorable geopolitical jurisdictions.
Further information about the Company is available on our website at www.southernlithium.com or under our profile on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"David Alexander"
Chief Financial Officer
For further information, please contact:
Sam Eskandari
Phone: +1.416.918.6785
Email: ir@southernlithium.com
Neither the 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 includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.
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