Lithium Corporation Makes Application to List on Canadian Exchange
Lithium Corporation (OTCBB: LTUM) (the 'Company', or 'Lithco?) is
pleased to announce that it has submitted an application to the BC
Securities Commission (BCSC) to list the Company on the Canadian
National Stock Exchange (CNSX). Listing on a Canadian exchange increases
the Company′s exposure to Canadian equity markets, which are very mining
friendly and the Company believes a Canadian listing will provide
increased liquidity, equity financing opportunities, corporate mergers,
etc. In support of this application Lithium Corporation has filed a
Preliminary Long Form Prospectus with the BCSC, which includes a 43-101
report on its Fish Lake Valley prospect, authored by James Chapman PGeo.
Mr. Chapman travelled to Fish Lake Valley recently to evaluate the
condition of the playa, and he reports that it is still too wet to
support the weight of a drilling rig. However conditions have improved
considerably from when the Company visited the site in July, and Lithium
Corporation expects that the playa will continue to dry through the fall
and that it will be stable enough to permit drilling sometime in late
October or early November.
Meanwhile the Company has staked more claims at its San Emidio prospect,
and is in the process of amending its BLM permit to facilitate another
round of drilling there. Sampling during 2011 on this prospect resulted
in the discovery of subsurface brine containing up to 86 mg/liter
lithium. It also has been determined that a deeper subsurface brine pool
exists locally, as preliminary drilling in early 2012 has intersected
strongly anomalous lithium-in-brine mineralization of up to 23 mg/liter
on the margins of the deeper brine pool.
Logistics are excellent at the San Emidio prospect as it is located only
60 miles to the northeast of Reno, Nevada, is served by a network of
various roads, and is about 8 miles by road from Nevada State Highway
447. Power is available in the valley, as there is a geothermal
generating plant at the south end of the prospect.
For further information please contact Samantha White at Lithium
Corporation at (888) 299-3989 or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to
the exploration for new lithium resources within the state of Nevada.
The Company explores and develops potentially economic lithium-enriched
brine fields, with an eye to becoming a long-term producer of this
increasingly strategic and economically important commodity.
Notice Regarding Forward-Looking Statements
This current report contains 'forward-looking statements,' as that term
is defined in Section 27A of the United States Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Statements in
this press release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future, including but not
limited to, any mineralization, exploration and development of our
mineral properties, specifically in regards to any future drilling
programs.
Actual results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among others,
the inherent uncertainties associated with mineral exploration and
difficulties associated with obtaining financing on acceptable terms. We
are not in control of minerals prices and these could vary to make
development uneconomic. These forward-looking statements are made as of
the date of this news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual results
could differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and intentions
contained in this press release are reasonable, there can be no
assurance that such beliefs, plans, expectations or intentions will
prove to be accurate. Investors should consult all of the information
set forth herein and should also refer to the risk factors disclosure
outlined in our most recent annual report for our last fiscal year, our
quarterly reports, and other periodic reports filed from time-to-time
with the Securities and Exchange Commission.
Lithium Corporation
Samantha White
(888) 299-3989
info@lithiumcorporation.com
