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United Bullion Exchange Acquires Rights to Prime Lithium Brine Property in Nevada 09/14 07:35 AM
RENO, NV -- (MARKETWIRE) -- 09/14/11 -- United Bullion Exchange, Inc. (UBEX:$0.4200,$0.0000,0.00%) ("United Bullion Exchange" or "the Company") is pleased to announce it has recently executed a definitive agreement thereby acquiring an option and exploration rights of the Clayton Valley Area Project, Esmeralda County, NV. This totals approximately 50 separate contiguous claims spread out over 8,000 acres in this prime lithium-mining region.
United Bullion's Clayton Valley Area Project represents approximately 50 claims in close proximity to the Clayton Valley playa, where lithium-rich brines and evaporates have been accumulating for more than 30,000 years, resulting in the highest lithium content found in any brines tested by the US Geological Survey (USGS) in southwestern US playas and basins.
The property is in close proximity to the only Lithium brine producer in the United States. This plant extracts Lithium from brines pumped from aquifers below the valley and has been in production since 1967. The plant is designed to produce 1.2 million kg of Lithium per year and to date has produced an estimated 50 million kg of Lithium. United Bullion Exchange's (UBEX:$0.4200,$0.0000,0.00%) claims are within 8 miles of Clayton Valley, the source of the Lithium. The project area has excellent infrastructure including a network of roads, railroads and cellular telephone coverage.
The Clayton Valley Area Project itself is surrounded by the Montezuma Range and mountain ranges containing Tertiary rhyolites (the volcanic equivalent of granite) considered to be the most lithium-rich rhyolites in the world. The movement and evaporation of the region's water replenishes lithium-rich clays, lithium inclusions in halite (naturally occurring salt), and economic grades of brine-based lithium considered to be in the 100 to 300 ppm range with the USGS indicating some concentrations in the Clayton Valley area reaching as high as 1,000 ppm.
Rick Brutti, CEO of United Bullion Exchange (UBEX:$0.4200,$0.0000,0.00%) , stated, "We are delighted to have signed a deal for a property in such a well-known location. It is our goal to become one of America's leading mineral exploration companies through acquisitions like the Clayton Valley Area Project. We feel that the electric car revolution will drive the domestic demand for lithium to levels unseen before."
More information on the Clayton Valley Area project, and additional information regarding the company, can be found at United Bullion Exchange's (UBEX:$0.4200,$0.0000,0.00%) corporate website www.UnitedBullionExchange.com.
About Lithium
Lithium is a lightweight metal used in a wide range of consumer products the world over: the medical industry uses lithium as an anti-depressant; industrial uses include glass, ceramic and porcelain enamel manufacture; the aviation industry uses lithium in alloys. Of particular interest is the use of lithium for battery production, which has expanded significantly in recent years due to rechargeable lithium batteries being used increasingly in electrical tools and in the rapidly expanding portable electronics market. Furthermore, the next generation of hybrid and electric vehicles are being designed to use high-capacity lithium-ion batteries as environmentally-friendly fuel alternatives while the Obama administration has introduced $5 billion in funding and incentives for the development of a secure, domestic battery industry with special focus on lithium-ion batteries.
About United Bullion Exchange (UBEX:$0.4200,$0.0000,0.00%)
United Bullion Exchange, Inc. (UBEX:$0.4200,$0.0000,0.00%) is a new US based mineral exploration company seeking to identify and build an inventory of mineral properties in the United States. More information about the company can be found at www.unitedbullionexchange.com.
Forward-Looking Statements
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.
Contact:
Rick Brutti
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