SOURCE: Pure Energy Minerals Limited

Pure Energy Minerals Limited

November 05, 2015 09:00 ET

Pure Energy Appoints Patrick Highsmith to the Board of Directors

VANCOUVER, BC--(Marketwired - Nov 5, 2015) - Pure Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTCQB: HMGLF) (the "Company" or "Pure Energy") is pleased to announce that Mr. Patrick Highsmith has been appointed to the Company's Board of Directors, effective November 5, 2015.

Patrick Highsmith is a 25-year veteran of the mining industry. During his tenure as COO and CEO at Lithium One Inc., he led the discovery teams on the Sal de Vida and James Bay lithium projects. He negotiated Lithium One's strategic joint venture with LG, GS Caltex and KORES on the Sal de Vida lithium brine and potash project in Argentina before co-engineering the 2012 sale of the company for over $100 million.

Mr. Highsmith is an experienced manager and director of public and private companies having worked in mine operations, exploration, and business development for Rio Tinto, BHP Billiton, and Newmont Mining. Since 2008, Patrick has been involved in the founding, management, financing, and sale of junior mining companies. He has been associated with more than $60 million of investments and financings since 2005. Patrick has evaluated and worked on more than 250 projects in 26 countries.

Mr. Highsmith has a Bachelor of Science degree in Geological Engineering and a Master of Science in Economic Geology from the Colorado School of Mines.

Robert Mintak, Pure Energy CEO, commented "We are very pleased to have Patrick join the Pure Energy team. He brings significant lithium industry credentials and connections and is a seasoned negotiator, having helped to forge all manner of joint ventures, investments, strategic partnerships, and acquisitions. This technical and business experience will contribute greatly to the successful execution of Pure Energy's project development strategies."

Pure Energy also announces that its Board of Directors has approved the granting of a total of 550,000 options to directors, officers and consultants of the Company. All stock options shall have an exercise price of $0.54 per common share and can be exercised for a period of five years from the date of grant. 475,000 of the options will vest in three equal instalments over a period of six months from the date of issuance, and 75,000 options will vest immediately. The grant of the Options is subject to the approval of the TSX Venture Exchange and in accordance with the Company's stock option plan.

About Pure Energy:
Pure Energy is a lithium-brine resource developer that is driven to become the lowest cost lithium supplier for the burgeoning North American lithium battery industry. Pure Energy is currently focused on the development of our prospective Clayton Valley South Lithium Brine Project, which has the following key attributes:

  • A large land position with excellent infrastructure in a first-class mining jurisdiction: Approximately 9,324 acres in three main claim groups in the southern half of Clayton Valley, Esmerelda County, Nevada
  • Adjacent to the only producing lithium operation in the United States (Albermarle's Silver Peak lithium brine mine)
  • An inferred mineral resource of 816,000 metric tonnes of Lithium Carbonate Equivalent (LCE), reported in accordance with NI 43-101
  • Preliminary economic studies underway to better understand the feasibility of modern environmentally responsible processing techniques to convert the Clayton Valley South brines into high purity lithium products for new energy storage uses

On behalf of the Board of Directors
"Robert Mintak"
Chief Executive Officer

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

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