Bearing Closes Acquisition of Additional Interest in Maricunga JV
28 Agosto 2018 - 9:02AM
Bearing Lithium Corp. ("
Bearing" or the
"
Company") (TSX Venture: BRZ) (OTCQB:BLILF)
(FRANKFURT: B6K2) is pleased to announce that it has completed the
acquisition of additional interest in the Maricunga Project (the
“Project”), bringing its interest to 18.02%, as was previously
announced on June 25th, 2018. Bearing acquired the additional
Project interest in the Maricunga joint venture company from Minera
Salar Blanco SpA, a private Chilean company. The current ownership
of the Project is as follows: Lithium Power International at
51.00%, Minera Salar Blanco SpA at 30.98%, and Bearing at 18.02%.
Jeremy Poirier, Bearing’s CEO and President
commented: “We are pleased to have increased our ownership in the
high-grade Maricunga project. This Project represents the
highest-grade and most advanced pre-production lithium brine
project in Chile. We are pleased with the advancement of the
Project and look forward to the tabling of the Definitive
Feasibility Study for the Project by the end of the year.”
About Bearing Lithium Corp.
Bearing Lithium Corp. is a lithium-focused
mineral exploration and development company. Its primary asset is
an 18% interest in the Maricunga lithium brine project in Chile.
The Maricunga project represents one of the highest-grade lithium
brine salars globally and the only pre-production project in Chile.
Over US$30 million has been invested in the project to date and all
expenditures through 2018, including the delivery of a Definitive
Feasibility Study in Q4/2018, have been fully-funded by the earn-in
joint-venture partner.
ON BEHALF OF THE BOARD Signed "Jeremy Poirier"
Jeremy Poirier, President and CEO FOR FURTHER INFORMATION PLEASE
CONTACT: Jeremy Poirier-- President and CEO Bearing Lithium -
Telephone: 1-604-262-8835 Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Cautionary Statements
Regarding Forward Looking Information
This press release includes certain
"forward-looking information” and "forward-looking statements”
(collectively "forward-looking statements”) within the meaning of
applicable Canadian and United States securities legislation
including the United States Private Securities Litigation Reform
Act of 1995. All statements, other than statements of historical
fact, included herein, without limitation, statements relating the
future operating or financial performance of the Company, are
forward-looking statements.
Forward-looking statements are frequently, but
not always, identified by words such as "expects”, "anticipates”,
"believes”, "intends”, "estimates”, "potential”, "possible”, and
similar expressions, or statements that events, conditions, or
results "will”, "may”, "could”, or "should” occur or be achieved.
Forward-looking statements in this press release relate to, among
other things, the future prospects of the Maricunga lithium brine
project. Actual future results may differ materially. There can be
no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections on the date the statements
are made and are based upon a number of assumptions and estimates
that, while considered reasonable by the Company, are inherently
subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance or
achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation: the occurrence
of unexpected financial obligations, fluctuations in the price of
lithium or certain other commodities; fluctuations in the currency
markets; changes in national and local government, legislation,
taxation, controls, regulations and political or economic
developments; risks and hazards associated with the business of
mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins and flooding); the presence of laws
and regulations that may impose restrictions on mining and employee
relations. Readers should not place undue reliance on the
forward-looking statements and information contained in this news
release concerning these times. Except as required by law, the
Company does not assume any obligation to update the
forward-looking statements of beliefs, opinions, projections, or
other factors, should they change, except as required by law.
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