Update on Completion of Plan of Arrangement with NextView
March 1, 2018 NR18-4 Vancouver, BC – Lithium X Energy Corp. (“Lithium X” or the “Company”) (TSXV: LIX) (OTC: LIXXF) in response to recent trading in its shares, the [...]
About Lithium X
Lithium X Energy Corp. is a lithium exploration and development company with a goal of becoming a low-cost supplier for the burgeoning lithium battery industry. The Company holds two projects in in the prolific “Lithium Triangle” in mining friendly Salta province, Argentina as well as participating in the Clayton Valley in Nevada through its ownership interest in Pure Energy Minerals Limited (“Pure Energy”). The Company’s wholly-owned flagship project is the Sal de los Angeles lithium brine project. Subject to the completion of the Orocobre Agreements, the project consists of 8,854 hectares covering 100% of Salar de Diablillos, and has a 43-101 mineral resource estimate of 1.037 million tonnes of lithium carbonate equivalent in the indicated category and 1.007 million tonnes of lithium carbonate equivalent in the inferred category. The Company’s second Argentinian project, the Arizaro lithium brine project, consists of 33,846 hectares covering part of the western and eastern portions of the Salar de Azario, one of the largest known salt lakes in the world. In Nevada, the Company consolidated its Clayton Valley holdings with those held by Pure Energy, in the process becoming Pure Energy’s largest shareholder, holding 19.9% of Pure Energy’s outstanding common shares and share purchase warrants that, if exercised immediately, would increase its ownership interest to 22.5%. Pure Energy’s combined holdings in Clayton Valley consist of more than 10,500 hectares (approximately 26,300 acres).
Lithium X is listed on the TSX Venture Exchange under the symbol LIX.V.
Why LiTHIUM X?
Team
The LiTHIUM X team has created several multi-billion dollar companies from scratch and has access to a global network of business, government and philanthropic leaders.
The team are major shareholders in LiTHIUM X and are focused on maintaining a sound share structure and financing the company in ways that benefit existing and future shareholders.
The technical and project personnel are leading experts, having lead exploration and development projects in Nevada’s Clayton Valley and throughout South America.
Asset
LiTHIUM X has three strategically located assets:
- Sal de los Angeles is located in the prolific “Lithium Triangle” in mining friendly Salta Province, Argentina and covers more than 95% of Salar de Diablillos, containing high grade brine with a NI 43-101 Mineral Resource Estimate of 1,037,000 tonnes of lithium carbonate equivalent of Indicated, and 1,007,000 tonnes of lithium carbonate equivalent in Inferred category.
- The District-scale 33,846 hectares Arizaro project is located in one of the world’s largest and least explored salars thought to contain elevated lithium brine values.
- Lithium X owns 19.99% of Pure Energy Minerals, a company exploring and developing a large land package surrounding Albemarle’s Silver Peak lithium mine in Clayton Valley, Nevada.
Management continues to actively pursue strategies to enhance its project portfolio.
Timing
The energy storage revolution is generating high demand for lithium, with some analysts forecasting order-of-magnitude demand increases.
Battery giants are scaling up lithium-ion production with mega factories and actively acquiring raw materials through long-term offtake agreements.
Companies already producing lithium are attempting to increase production. However, the majority of current production (both brine and hard-rock operations) are capacity constrained with geopolitical risk affecting some of the world’s major production areas.
