Pure Energy Minerals Ltd (PEMIF)

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Pure Energy Minerals Grants Stock Options
12:24 pm ET November 30, 2022 (Newsfile) Print
Vancouver, British Columbia--(Newsfile Corp. - November 30, 2022) - Pure Energy Minerals Limited (TSXV: PE) (OTCQB: PEMIF) (the "Company" or "Pure Energy") announces, subject to regulatory approval, that pursuant to an annual performance and compensation review, it has granted a total of 880,000 stock options (the "Options") to directors, officers and consultants of the Company to purchase common shares of the Company in accordance with its approved Stock Option Plan. All of the Options vest quarterly in four equal tranches, with the first such vesting occurring upon issuance of the Options, and are issued at an exercise price of C$0.53 per share with expiry of five years from the date of issuance.

About Pure Energy

Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its Clayton Valley Project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 950 claims over 23,360 acres (9,450 hectares), representing the largest mineral land holdings in the valley. Pure Energy's Clayton Valley Project adjoins and surrounds on three sides the Silver Peak lithium brine mine operated by Albemarle Corporation.

Pure Energy's strategic partner, Schlumberger Technologies Corporation ("SLB"), is the operator of the Clayton Valley Project. In May of 2019, Pure Energy and SLB signed an Earn-In agreement over the CV Project which requires significant investment by SLB at the Project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate ("lithium hydroxide" or "LiOH·H2O") and/or lithium carbonate products at a specified rate. SLB plans to utilize both in-house and commercially available technology in the design of the CV pilot plant. SLB's costs, technical parameters and ultimate technology are anticipated to differ from the published PEA. For further details regarding SLB's participation, please refer to Pure Energy's Annual General and Special Meeting Management Information Circular dated April 4, 2019, available on SEDAR.com.

On behalf of the Board of Directors,

"Mary L. Little"

Director, Pure Energy Minerals Limited