SOURCE: Pure Energy Minerals Limited

Pure Energy Minerals Limited

April 07, 2016 08:30 ET

Pure Energy Minerals Receives Federal Permit for Next Phase of Drilling

VANCOUVER, BC--(Marketwired - Apr 7, 2016) - Pure Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTCQB: HMGLF) (the "Company" or "Pure Energy") is pleased to announce that it has received, through its project operator GeoXplor Corp, an amended Notice of Intent work permit from the Bureau of Land Management for the next phase of exploration drilling at its Clayton Valley South ("CVS") Lithium Brine Project, located near Silver Peak, Nevada (the "Project"). This amendment permits the Company to drill one new well that will target potential lithium brine bearing formations identified from previous phases of exploration. The Company expects to drill the well to a depth of up to 500 metres. With cash on hand and the ongoing exercise of warrants, the Company is fully funded for this phase of exploration drilling to further delineate and expand upon its inferred mineral resource, reported in July of 2015 (See Company news release dated July 28, 2015).

Patrick Highsmith, Pure Energy Minerals CEO commented, "We are pleased to have amended permits in hand for the next phase of drilling at Clayton Valley. We have begun mobilizing equipment and drill crews to the project in anticipation of commencing drilling activities in the coming days. We look forward not only to integrating the results from this new well into our existing lithium brine resource, but also to use the well as part of a monitoring network for longer-term pumping tests in the near future. This expanded drill program and the upcoming pumping tests are key building blocks of the PEA that we plan to deliver this summer."

Qualified Person:

Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702), is a qualified person as defined by NI 43-101, and has supervised the preparation of the scientific and technical information contained in this news release. Mr. Highsmith is not independent of the Company as he is an officer and a director.

About Pure Energy Minerals Ltd.
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 CVS Lithium Brine Project, which has the following key attributes:

  • A large land position with excellent existing infrastructure in a first-class mining jurisdiction: Approximately 9,324 acres in three main claim groups in the southern half of Clayton Valley, Esmeralda County, Nevada.
  • Adjacent to the only producing lithium operation in the United States (Albemarle'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.
  • Metallurgical and process studies underway to better understand the feasibility and economics of using modern environmentally-responsible processing technology to convert the CVS brines into high purity lithium products for new energy storage uses.

On behalf of the Board of Directors,

"Patrick Highsmith"
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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