VANCOUVER,
Sept. 3, 2013 /PRNewswire/ - Pure
Energy Minerals Limited (TSXV: PE)("Pure Energy" or
the "Company") is pleased to provide an update for
our Alkali Flats Lithium Brine Project ("AF Claims" or
"AF Project"), located in Esmeralda County Nevada.
The Company's management would like to take this opportunity to
provide an update on our current status and plans leading up to the
year end of 2013. Despite challenging times in the global capital
markets, and in particular the mining sector, we have remained busy
advancing our AF Project.
The Company has received approval from U.S. Bureau of Land
Management ("USBLM") for its initial drilling program on the
AF Project. The Notice of Intent to conduct exploration drilling
was submitted to USBLM on February 19,
2013 and approved on March 11,
2013. The initial exploration well is designed to test
specific targets identified by the geophysical surveys. Based on
the success in finding brine aquifers and anomalous lithium
contents, additional exploration including reflective seismic and
further drilling is planned to expand on the information about
hydrogeology and lithium mineralization that might be
discovered.
The Company is pleased to announce it has paid its annual USBLM
maintenance fees for its AF Claims; the Company has also optimized
its claim holdings to significantly reduce its maintenance fee
costs while retaining all claims representing planned drilling
targets and all areas of significant exploration interest. The new
property holdings now consist of 2,240 acres, 4 claims of 160
acres, 24 claims of 40 acres and 16 claims of 40 acres.
Additionally, the Company has made all required payments to
GeoXplor Corp. in accordance with the option agreement with
GeoXplor Corp. on the AF Claims.
Update on Project Financing
The Company has had numerous parties review its AF Project and
have had extensive due diligence discussions with Company
management and the Advisory Committee.
Despite the difficult financing climate facing the global junior
resource sector, the Company is pleased to report that it has
generated strong and continuing interest from a number of potential
partners (based in Asia
and our previously announced relationship with Pathion, Inc.)
that are in various stages of due diligence. The Board remains
optimistic that this level of interest in the Company and its
projects will attract the required investors and potential
strategic partners required to advance its exploration program on
the AF Project.
New project opportunities and lithium processing technologies
are also being considered as part of our ongoing review of the
Company and its short and medium term strategy, with a number of
opportunities currently under technical review.
Pure Energy's CEO Robert Mintak
comments "I am happy to report that the Company has been very
active these last few months in our discussions with potential
strategic partners that may prove key to our project financing. I
am hopeful to be in a position to provide more specific details on
these talks and additionally possible processing technology
licensing opportunities in the near future. "
About Pure Energy
Pure Energy Minerals Limited is an innovative
junior mining company based in Vancouver, British Columbia, Canada. Currently Pure
Energy is focusing its efforts on lithium mining opportunities and
related technologies. The Company's Alkali Flats Project in
Esmeralda County Nevada represents
approximately 2240 acres in proximity to the Clayton Valley Playa. The area is home to
the only U.S. based lithium producing plant, the Silver Peak plant
operated by Rockwood Lithium.
We seek Safe Harbor. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Pure Energy Minerals Limited