Habanero Resources Inc.

Habanero Resources Inc.

August 20, 2009 03:01 ET

Habanero Applies for Approximately 250,000 Contiguous Acres of Land Prospective for Lithium

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2009) - Habanero Resources Inc. ("Habanero") (TSX VENTURE:HAO)(PINK SHEETS:HBNRF)(FRANKFURT:HRJ) wishes to announce that the Government of Alberta has confirmed that Habanero's applications, for thirteen contiguous townships (approximately 250,000 acres) prospective for lithium in Alberta, have been received and accepted. According to maps within the Alberta Department of Energy Report by Bachu, Yuan and Brulotte from January 31, 1995, this prospect lies primarily within the South Leduc Formation which has potential for lithium production. According to the Alberta Government, final approval on these applications is expected within 4-6 weeks. Once final acceptance has been received a work program is anticipated to commence on this prospect.

Jason Gigliotti, President of Habanero stated, "Lithium is a segment of the market that management feels could be a substantial growth sector in the future. With the electric car market increasing in exposure and the demand increasing for lithium, we feel that being involved in this area could be a growth driver in the future. The size of the acreage we applied for is a significant amount. Also, based on government reports, the area we have applied for has displayed lithium showings within the formation water."

This release has been reviewed by Laurence Stephenson, PEng, the designated qualified person as defined by NI 43-101.

Habanero is a diversified junior company with significant acreage in the Alberta Oilsands; it is one of the largest landholders in the Yukon, bordering Underworld Resources; and it has now made applications to become one of the largest land holders within land prospective for lithium in Alberta.

If you would like to be added to Habanero's email updates list, please send an email to ir@habaneroresources.com requesting to be added.

Habanero Resources Inc.

Jason Gigliotti, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Habanero Resources Inc.
    Jason Gigliotti
    604 646 6900