October 31, 2016 – Voltaic Minerals Corp. (TSXV: VLT, FSE: 2P6) (the “Company”) is pleased to announce that it has signed an MOU with Enertrex Corporation (“Enertrex”) to begin process development and optimization for the expected Lithium brine solution extracted from the Green Energy Project (the “Project”) using Enertrex’s Selective Lithium Process. Enertrex has developed a system that selectively extracts Lithium from Lithium bearing solutions. The purpose of the MOU is to determine whether the process can be used in a commercial operation and at competitive extraction cost.
Phase I will consist of developing and demonstrating the Lithium selective capability with a synthetic mixture resembling that of the historic results that were collected out of oil and gas production wells from the Green Energy Project with a stated objective of an operating cost goal that is comparable to other Lithium Carbonate brine projects. Simultaneous to this work, the Company will try to define a resource for a targeted brine sampling work program. Phase I is expected to take 90 days. Darryl Jones President of Voltaic Minerals Corp. states, “Initial understanding of metallurgical processing is an integral step toward the production of Lithium Carbonate from super-saturated brines. Voltaic Minerals Corp. is extremely excited to have Enertrex and their team of technical experts working alongside us.”
Assuming Phase I is successful, Phase II will consist of optimizing the capability of the Selective Lithium Process on the Green Energy Project brine as well as providing opportunity for the Company to begin field testing other brines and Lithium feed stocks that would be ideal for the process. The goal of Phase II is to identify ideal brine metallurgy for the process and obtain a consistent source of supply for the development of Phase III. Phase II is expected to take 90 days to complete.
If the Company is satisfied with the results of Phase II, Phase III will involve the construction and demonstrations of a 20 gallon/minute pilot unit designed to test Lithium bearing solution and confirm operating costs of a commercial system. Demonstration of the unit using brine from, but not limited to, the Green Energy Project will be carried out for further confirmation giving the Company the ability to source brines globally. Phase III is also expected to take 90 days to complete.
The Enertrex technology uses a series of off-the-shelf sets of equipment in modular fashion to achieve a novel result, which is to take brine that is relatively dilute in terms of Lithium grade but contains substantial concentrations of other minerals, and deliver clean and concentrated Lithium brine. It is important to bear in mind that this process essentially replaces solar evaporation and much of the traditional chemical treatment to remove impurities such as Magnesium, Calcium, and Boron. A key cost driver for a successful Lithium project is managing the prohibitive cost of impurity removal from a solution.
The Enertrex system utilizes a reaction/transport mechanism to selectively extract Lithium in a process using modified commercial units. If all three phases prove successful, Voltaic Minerals Corp. and Enertrex Corporation will jointly work on commercialization of the Selective Lithium Process for use on but not limited to brines from the Green Energy Project, and Voltaic will be granted the world-wide exclusive rights to market and utilize the process for Lithium extraction.
Under the MOU, the parties will work towards preparing and signing definitive agreements to more fully elaborate on the terms in the MOU. The Corporation is paying the costs of the three phases in exchange for the license to utilize the development process technology.
About Voltaic Minerals Corp.
Voltaic Minerals Corp. is a Vancouver-based Lithium exploration company which owns 100% of the Green Energy Lithium Project that encompasses 4,160 acres of Bureau of Land Management (BLM) claims and is located in Grand County, 15 km west of the city of Moab, Utah. Lithium and other minerals occur at the project in an over-saturated brine (40% minerals, 60% water) discovered during oil exploration when drill wells intercepted Clastic Bed #31 of the Paradox formation.
ON BEHALF OF THE BOARD
VOLTAIC MINERALS CORP.
President & CEO
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.
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this release include that the Lithium extraction process will work, be cost effective; the process will be commercialized; the process will produce a Lithium Chloride brine suitable for production in a chemical plant that we will agree to definitive agreements and that all phases of development will be implemented. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company and Enertrex may not agree on the final agreement terms, aspects or all of the process development may not be successful, the process may not be cost effective, the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.