June 15, 2017 – Voltaic Minerals Corp. (TSXV: VLT, OTC: VTCCF, FSE: 2P61) (the “Company” or “Voltaic”) is pleased to announce that Lithium Selective Technologies, Inc. (”LiST”) has provided an interim update from their process facility in Northern California. The Company had engaged LiST on an interim basis to continue its development of a Lithium extraction process for non-conventional brines (see news release dated April 11, 2017).
Lithium Selective Technologies, Inc. has completed preliminary testing using its hybrid technology for the recovery of Lithium from natural brines. LiST is pleased to confirm they have produced solutions with significant enhancement of Lithium concentration and Lithium/Calcium ratios in its initial screening tests. William Bourcier of LiST comments, “We are very pleased that our initial process results confirmed our ability to enhance Lithium concentration of non-conventional brine. We are extremely optimistic that increased selectivity performance and concentration enhancement can be expected as optimization testing proceeds.” In addition, LiST intends to have their data analysed by a third party laboratory for independent verification.
The stated objective of LiST is to develop a process for Voltaic that would put them into the lowest quartile of Lithium production costs from natural brines in the United States. Tom Currin, Voltaic Project Manager states, “If successful, this process could create value from known resources in the US and globally. The company is incorporating selective techniques, used commercially in mineral extraction and water treatment, in a novel fashion to achieve a result not yet seen in the Lithium process sector.” LiST will be issuing periodic updates of their process development work and achieved results as optimization testing continues.
Definitive Agreement Update
Voltaic Minerals Corp. and Lithium Selective Technologies, Inc. are continuing to work very closely on developing the Lithium extraction process. Under the exclusivity agreement, both LiST and Voltaic will continue work toward the finalization of a definitive agreement, but need more results of testing in order to do so. The definitive agreement is intended to govern the utilization of the Lithium extraction process worldwide on non-conventional brines. As a result Voltaic and LiST have mutually agreed to extend the exclusivity agreement to incorporate further testing.
Grant of Stock Options
The Company also announces that it has granted options to acquire 380,000 common shares in the capital of the Company (each, an “Optioned Share”) at a price of $0.10 per Optioned Share for a period of five years to two consultants of the Company.
About Lithium Selective Technologies, Inc.
Lithium Selective Technologies, Inc. technical team has over 85 years of combined Lithium processing experience and is extremely optimistic about the potential that the extraction method could economically process non-conventional brines and effectively unlock such brines across the globe. LiST is currently using artificial brine that is similar in nature to the Green Energy brine identified in historic fluid analysis.
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 in Grand County, 15 km west of the city of Moab, Utah. Lithium and other minerals occur at the property in an over-saturated brine (40% minerals, 60% water) discovered during historic oil exploration when drill wells intercepted Clastic Bed #14 of the Paradox formation.
ON BEHALF OF THE BOARD
VOLTAIC MINERALS CORP.
President and 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 be cost effective and can work globally; that the process can be commercialized; that the process will produce Lithium Chloride brine at the lowest quartile of Lithium production costs from natural brines in the United States; 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 Lithium Selective Technologies 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 or testing; 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.