Liberty One Lithium Initiates Development Plans for 2018
VANCOUVER, British Columbia, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Liberty One Lithium Corp. (“Liberty One” or the "Company") (TSX.V:LBY) (OTCQB:LRTTF) (FRANKFURT:L1T), an exploration and development company focused on the acquisition and recovery of high grade lithium brine deposits, wishes to advise that plans are underway to examine a short-list of prospective lithium properties in both Latin America and the continental USA in Q1 2018.
Company CEO, Brad Nichol notes, “We have had exploration plans for our Utah property in the works for some time, and our extremely favorable $10MM in working capital provides us the opportunity to advance those efforts as well as broadening our reach in search of undiscovered or undervalued projects in order to deliver on our strategic goals for measured growth. Our desire to build a global portfolio of lithium holdings is based on our assessment of supply chain trends that we believe requires positive and decisive action as the economics of the lithium market continues to evolve.”
“In that regard, we have determined that our exploration efforts at the Pocitos West property in Argentina falls short of the viability we require to move ahead based on our current economic projections.” Mr. Nichol continues, “Therefore, we have elected to discontinue further operations or investment in the Pocitos Salar at this time. Perhaps a more aggressive operator might undertake a full field exploration program in future, but our near-term exploratory goals have been achieved, and we now feel our investment will be better utilized in other jurisdictions where risk factors best suit our stage of business development. We are very pleased to have utilized this project to validate our abilities, gain strategic technical insights, and create important new relationships within the global lithium mining community. Today we are more prepared than ever before to meet the opportunities ahead.”
Concurrent with today’s announcement, Liberty One recently affirmed 2018 plans to commence an evaluation of its promising “North Paradox” property consisting of 233 placer claims encompassing 4,480 acres located within the Paradox Basin in Grand County, Utah. Log data at the Utah Geological Survey library indicates the area appears rich with supersaturated brines, and nearby long-term mine operations effectively demonstrate the climatic efficacy for traditional evaporative production processes. Additionally, the Company has committed to examining a range of global venture opportunities in Q1/18 to ascertain investment threshold criteria which will be identified in due course upon entry into any material agreements.
Brad Peek, MSc., CPG, a non-arm’s length party to the Company, is the Qualified Person responsible for the technical disclosure in this news release relating and limited to the “North Paradox” property in Grand County, Utah.
In related news, Mr. John Davidson has tendered his resignation from the Board of Directors. The Company wishes him well on his future endeavours.
For further information about Liberty One Lithium Corp., please visit www.libertyonelithium.com or view the Company’s filings at www.SEDAR.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“/s/ Brad Nichol”
Brad Nichol
President & CEO
About Liberty One Lithium (TSX.V:LBY) (OTCQB:LRTTF) (FRANKFURT:L1T)
Liberty One Lithium Corp. is an exploration company focused on the acquisition and development of high grade lithium brine deposits. The company has plans to evaluate a prospective region of Utah and to identify additional global exploration targets in Q1/18. The Company seeks regions ideally situated for lithium brine production via low-cost and well-proven evaporation methods, and are adjacent to substantive infrastructure and a skilled, experienced labour force. Liberty’s international team is comprised of recognized technical experts that have focused on lithium for decades. The Company is stringently managed with a critical eye on value-creative decision making, aimed at ensuring the Company is well-capitalized and consistently creating value for shareholders. Read more at: www.libertyonelithium.com/about-us/summary.
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “anticipates,” "plans," “expects,” “intends,” “is expected,” “potential,” “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may,” “could,” “should,” “would,” “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT
Walter Spagnuolo
Invictus Investor Relations
Office: +1.604.343.8661
Email: investors@l1lithium.com
Website: www.libertyonelithium.com