VANCOUVER, BC--(Marketwired - February 13, 2017) - Zadar Ventures Ltd. (TSX VENTURE: ZAD) (FRANKFURT: ZAV) (OTCQB: ZADDF) (the "Company") is pleased to announce that it has entered into negotiations with a private Alberta Company to evaluate the purchase of a portfolio of Canadian PetroBrine Projects. PetroBrines are considered to be saline formational waters associated with petroleum production which could potentially be utilized as feedstock for mineral extraction, including Li (lithium). The Company intends to explore this new opportunity in an ever growing Lithium market.
Canadian Oil and Gas well operators have long reported Lithium values ranging from 80 mg/l to 140 mg/l as referenced by the geoScout Oil & Gas Industry database as reported by well operators and monitored by the Government of Alberta. There are other Provincial Geological Survey reports throughout Canada that reference brines, within these same lithium concentration ranges, in areas associated with oil production.
Company President Paul D. Gray, P.Geo. Commented "We are excited to get involved in a relatively new area of Lithium exploration. The demand for low cost Lithium production is going to be the key in the ever growing energy storage space, and Zadar intends to stay out front of this rapidly developing space."
The Company intends to complete its Due Diligence and enter into a definitive agreement within the next 45 days.
Zadar also announces it has set 500,000 incentive stock options at a price of $0.10 cents for a period of two years.
Zadar Ventures Ltd. is a Resource Company focused on the acquisition and exploration of economically viable green energy resources in jurisdictions favorable to mining and industry. For more information we invite you to visit the company's website at www.zadarventures.com
This news release has been reviewed and approved by Mr. Paul D. Gray, P.Geo., who is the Company's qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Paul D. Gray, P. Geo.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.