Mineral Hill Industries Ltd. Acquires Lithium Brine Project
Trading Symbols: ---------------- TSX Venture Exchange: MHI Frankfurt Stock Exchange: N8Z/WKN: AODLHP Pink Sheets: MHIFF
The Chickadee Project consists of six permit applications covering approximately 135,000 acres (~55,000 hectares) prospective for lithium and encompassing known occurrences within formation waters.
The Chickadee Project is situated over the Devonian age Beaverhill Lake and the Woodbend (Leduc) carbonate reef complexes. Formation water brines are spatially associated with these two complexes and are known to contain anomalous concentrations of lithium. The property is directly adjacent to Channel Resources Fox Creek Lithium Project as well as Sidon International Resources Corp.'s Lithium Project.
Lithium concentrations reported from the area are similar to those currently mined in
The property has been acquired from Zimtu Capital Corp. and 877384 Alberta Ltd (the "Vendors") and is subject to the signing of a formal Mineral Property Acquisition Agreement and TSX Venture Exchange approval. The Company has agreed to pay the Vendors
A) 1,000,000 on TSX-V approval of the Mineral Property Acquisition Agreement B) 1,000,000 on that day which is 30 months from the date of the TSX-V approval
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by
With the addition of the Chickadee Creek Lithium Brine Property alongside our three properties totaling approximately 2300 hectares of mineral spodumene located in the township of Figuery 32 kilometers northwest of Val-d'Or
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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.
For further information: Dieter Peter, Chairman & CEO, Telephone: (604) 685-4170; John Punzo, Director, Telephone (direct) (604) 685-4170
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