Dajin Resources and Enirgi Group Sign MOU for Exclusive Access to Lithium DXP Technology in USA
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Upon the production of 20 tonnes cumulative battery grade lithium carbonate at the Rincon Project, signing a Definitive Agreement, consideration of provision to Dajin of Enirgi Group services, and having exclusive access to processing facilities, Dajin will issue to Enirgi Group common shares of its capital in an amount which represents 19.5% of the issued shares of Dajin (post-issuance), calculated based on the number of shares issued of Dajin outstanding as of the date of acceptance of a Definitive Agreement by the TSX Venture Exchange.
Upon the completion of a Definitive Feasibility Study (DFS) for the construction of a processing facility and acceptance by the TSX Venture Exchange, Dajin will issue to Enirgi Group additional common shares of its capital in an amount which represent 10.5% of the issued shares of Dajin (post-issuance), calculated based on the number of issued shares of Dajin outstanding as of the date of the completion of the DFS.
LSC Lithium Corp. ("LSC"), a lithium exploration company in Argentina, entered into an earn-in agreement with Dajin in 2016 for the development of Dajin's extensive Lithium exploration land holdings in Jujuy Province, Argentina. This agreement also provides access to the Enirgi Group processing facilities in Argentina.
Enirgi Group's CEO Wayne Richardson commented, "We are pleased to have this association with Dajin who understand and appreciate the significance of a cost effective and demonstrable commercial process that minimizes water consumption for the production of battery grade Lithium carbonate. We have been working for several years and have spent over $200 million dollars on developing the Rincon Project and our DXP Technology. We believe our process will have a major impact on the processing of Lithium brines in the future worldwide."
Dajin's President Brian Findlay remarked, "This relationship will provide Dajin exclusive access to Enirgi Group's DXP Technology which is going through the certification process at their Rincon Project located in Argentina's part of the "lithium triangle." After extensive review of other known Lithium brine processing technologies, Dajin's management has determined the DXP Technology to be the most advanced on the market today."
Dajin holds two key exploration projects in Nevada: the Teels Marsh valley and Alkali Lake valley. The Teels Marsh Lithium brine project has identified near-surface Lithium-bearing brines, water rights have been acquired, and there is minimal land fragmentation. A recent seismic survey confirmed the closed basin beneath the playa is up to 8,200 feet (2,500 metres) deep. In March, the Bureau of Land Management accepted Dajin's Notice to proceed with civil works and drilling as part of its exploration for Lithium brines at Teels Marsh. A National Instrument 43-101 report on the Teels Marsh project was released in April.
About Enirgi Group: (www.enirgi.com )
Enirgi Group is a privately held multinational conglomerate with six unique divisions that own and operate a portfolio of high-quality assets and operations located around the world. Enirgi Group's newly formed Advanced Materials Division is developing its Rincon Project located in the province of Salta, Argentina. Enirgi Group is focused on the development of innovative technologies to sustainably progress numerous projects around the globe with the goal of becoming a leading low-cost, high quality producer of specialty chemicals and energy storage solutions.
Enirgi Group is wholly-owned by Sentient Group. The Sentient Group Limited is an independent private equity investment firm specializing in the global resources industry with over $2.7 billion of assets under management in metal, mineral and energy assets across the globe.
About Dajin: (www.dajin.ca)
Dajin is an early stage Lithium exploration company holding a 100% interest in 403 placer claims covering 7,914 acres (3,202 hectares) in the Teels Marsh valley of Mineral County, Nevada. These claims are known to contain Lithium and Boron values and are adjacent to the birth place of US Borax Corp's first borax mine. Dajin also holds a 100% interest in 191 placer claims covering 3,851 acres (1,558 hectares) in the Alkali Lake valley of Esmeralda County, Nevada, located 7 miles (11 kilometers) northeast of Albemarle's Silver Peak Lithium brine operation in Clayton Valley.
Dajin, through Dajin Resources S.A. ("Dajin S.A."), holds concessions or concession applications in Jujuy Province, Argentina that were acquired in regions known to contain brines with Lithium, Potassium, and Boron values. These concessions exceed 93,000 hectares (230,000 acres) and are primarily located in the Salinas Grandes/Guayatayoc salt lakes basin. Dajin S.A. is partnered with LSC Lithium Corp. who has agreed to spend $2,000,000 to earn a 51% interest in Dajin S.A.'s Lithium properties while building a significant presence in Argentina. (click here for information on LSC Lithium Corp.)
ON BEHALF OF DAJIN'S BOARD OF DIRECTORS
Brian Findlay For further information please contact:
President & CEO Julie Hajduk at 1 604-609-6151or julie@dajin.ca
Head of Corporate Development
ON BEHALF OF ENIRGI GROUP'S BOARD OF DIRECTORS
Wayne Richardson For further information please contact:
CEO Jessica Helm at 1 416-365-2783 or info@enirgi.com
VP Corporate Communications
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