Bacanora Minerals Ltd.
TSX VENTURE : BCN
AIM : BCN

Bacanora Minerals Ltd.

January 25, 2017 18:00 ET

Bacanora Announces Board Change

CALGARY, ALBERTA--(Marketwired - Jan. 25, 2017) - BACANORA MINERALS LTD. ("Bacanora" or the "Company") (TSX VENTURE:BCN)(AIM:BCN), the Canadian and London listed company focused on developing the Sonora Lithium Project ("Sonora" or the "Project") in Mexico into a world class lithium carbonate operation, announces that Mr. Kiran Morzaria, a Non-executive Director of the Company, has stepped down with immediate effect to focus on his other business interests.

The Board of Directors of Bacanora would like to thank Kiran for the valuable personal contribution he has made in assisting with the development of Sonora, which is currently the subject of a Feasibility Study for a 35,000 tpa lithium carbonate operation. The Company is evaluating candidates with the relevant experience to complement its Board, as it focuses on advancing Sonora towards the construction and production phases.

ABOUT BACANORA:

Bacanora is a Canadian and London listed minerals explorer (TSX VENTURE:BCN)(AIM:BCN). The Company explores and develops industrial mineral projects, with a primary focus on lithium. The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) of 4.5 million tonnes (lithium carbonate equivalent) and 2.7 million tonnes Inferred. A Pre-Feasibility Study completed in Q1 2016 demonstrated the positive economics associated with becoming a 35,000 tpa lithium carbonate and 50,000 tpa SOP producer in Mexico. The Company is led by a team with lithium expertise which have proven mine development, construction and operational experience.

Reader Advisory

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to developing the Project into a world class lithium carbonate operation and the evaluation of potential candidates for appointment to the Board. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: commodity price volatility; general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Bacanora Minerals Ltd.
    Peter Secker
    CEO
    info@bacanoraminerals.com

    Cairn Financial Advisers LLP, Nomad
    Sandy Jamieson/Liam Murray
    +44 (0) 20 7213 0880

    Numis Securities Ltd, Broker
    John Prior/James Black/Paul Gillam
    +44 (0) 20 7260 1000

    St Brides Partners, Financial PR Adviser
    Frank Buhagiar/ Elisabeth Cowell
    +44 (0) 20 7236 1177

    Macquarie Capital (Europe) Limited, Corporate Adviser
    Raj Khatri
    +44 (0) 20 3037 2000