Queens Road Capital Investment Ltd (BRSGF)

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Lithion Energy Corp. Significantly Expands its Land Position at its Railroad Valley Lithium Brine Project in Nevada

2017-11-20 09:45 ET - News Release


Vancouver, British Columbia--(Newsfile Corp. - November 20, 2017) - Lithion Energy Corporation (TSXV: LNC) ("Lithion", or the "Company") is pleased to announce that it has expanded its Railroad Valley Brine Project's land position in Nevada by 5,963 Acres (~2,413 ha), or by nearly 150%. The recently completed staking of 296 placer claims, over one contiguous block, brings the Company's total land holdings in the Railroad Valley Basin to 495 placer claims, totalling approximately 10,000 acres (~4,047 ha), spread over three separate claim blocks in close proximity.

The Railroad Valley Lithium Property is situated within east-central Nevada's Railroad Valley Basin, about 200 km east-northeast of Clayton Valley, which is host to Albemarle Corp's Silver Peak Lithium Mine, the only lithium brine operation within the United States. A comprehensive review of the available data completed for the Technical Report indicates the Railroad Valley Basin may be a larger analogue of the Clayton Valley Basin, with strong potential to host lithium brine of favourable size and grade.

The Railroad Valley Basin, which is host to Nevada's first oil production, is a sedimentary basin more than 37 km in length and 19 km across. The geologic setting is of a closed, fault bound, evaporitic basin, with over 1,000 metres of basin-fill sediments atop basement hosted petroleum reservoirs. To the west, Tertiary volcanic units are highly enriched in lithium, with a number of active thermal springs emerging along the basin faults. Collectively, these attributes indicate a favourable setting for lithium brine accumulation.

Since the discovery of oil at Eagle Springs in 1954, over 100 wells have been completed exploring for oil and gas within Railroad Valley, resulting in the discovery of multiple producing oil fields. The extensive historic geologic information developed from this oil and gas activity within the Valley provides an excellent database upon which brine rich units within the valley fill may be assessed.

According to Shawn Westcott, President of Lithion: "Our recent staking has significantly increased our land position within the central parts of the Railroad Valley Basin, where private exploration companies have been advancing the concept of a large brine pool being present, as indicated by data collected from over 90 oil wells. A recent surge in staking at Railroad Valley adds significant credence to the Company's early interpretation of the potential, and leaves us well positioned with some of the most prospective tenure in the basin."

Documented soil samples collected on the surface of the Railroad Valley playa by the U.S. Geological Survey contain elevated concentrations of up to 275 ppm Li, equivalent to 295 ppm Li2O. Further details on this sampling, as well as an in-depth review of the Company's property assets in the Railroad Valley may be found in the NI 43-101 Technical Report located on the Company's website.

The technical content of this section of the news release was reviewed, verified, and approved by Edward Lyons, PGeo, a qualified person as defined by National Instrument 43-101 and the author of the NI 43-101 technical report.

ON BEHALF OF THE LITHION BOARD


"Shawn Westcott"
President