– Neighboring company increases resource to Halo project property boundary
VANCOUVER, British Columbia, Feb. 07, 2023 (GLOBE NEWSWIRE) — POWR Lithium Corp. (CSE: POWR) (FRA: 6JX / WKN: A3D6BS) (OTCQB: PWRLF), formerly Clear Sky Lithium Corp. (CSE: POWR) (FRA: K4A / WKN: A3DM2W) (OTCQB: CSKYF) (“POWR” or the “Company”), a mineral exploration and development company focused on American lithium deposits to support domestic demand, is excited by the recent American Lithium Corp. (“American Lithium”) (TSX-V:LI | NASDAQ:AMLI | Frankfurt:5LA1) announcements of technical reports detailing their expanded TLC Project Mineral Resource Estimate and positive Preliminary Economic Assessment (“PEA”).
The TLC Project is located in the Esmerelda lithium district northwest of Tonopah, Nevada and lies directly adjacent to POWR’s Halo property. See American Lithium’s press release titled: American Lithium Files Updated Mineral Resource Technical Report on TLC Supporting Large Increase in Lithium Resources and Technical Report TLC Property Nye County, Nevada, USA (on SEDAR) for full details.
American Lithium’s maiden PEA for the TLC project details a positive base case of an after-tax NPV8% US$3.26 Billion & After-tax IRR of 27.5%.
Company CEO, Patrick Morris, notes, “We have been looking forward to the release of American Lithium’s updated technical reports since they first indicated they were expanding their TLC project resource in December. This new information, along with the upcoming results from our in-progress geophysics program, will allow us to refine our future exploration and drilling plans. More broadly, the announcement of a positive PEA shows the potential of lithium claystone in this region. I am excited for our year ahead as we work to advance our projects and provide shareholder value.”
On Behalf of The Board of Directors,
Chief Executive Officer
POWR Lithium Corp.
About POWR Lithium Corp. (CSE: POWR) (FRA: 6JX / WKN: A3D6BS) (OTCQB: PWRLF)
POWR Lithium is an exploration and development company dedicated to the advancement of North American lithium deposits to support domestic demand. The Company holds interests on the Halo and Eli properties in Nevada. The Company is also focusing on the development of claystone extraction and processing technologies aimed at delivering scalable efficiencies across the value chain in a sustainable manner. Find out more visit www.powrlithium.com and watch our video.
POWR Lithium advises the public that as part of its disclosure obligations as a public issuer, all material and regulatory filings can be found on www.sedar.com. We also invite the public to visit our website at www.powrlithium.com and to sign up to our “news alerts” to be advised of future news releases and related company information. Please also ensure you watch our video which is now available on the website.
Forward Looking Information Disclaimer
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the Company using the information from American Lithium’s PEA and the Company’s geophysics program to refine its future exploration and drilling plans.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s annual Management Discussion and Analysis dated December 16, 2022, under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE has neither approved nor disapproved the contents of this press release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
POWR Lithium Corp.
Phone: +1 (778) 383-7240