Millennial Lithium Corp.: Clarification of Statement in September 26 News Release
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 28, 2016) - Millennial Lithium Corp. (TSX VENTURE:ML), ("Millennial" or the "Company") would like to clarify certain disclosure made in its news release dated September 26, 2016. That news release stated:
"Millennial plans to apply its rapid development strategy to the Cauchari East Property. Pending government and community approvals, the Company will rapidly advance through geophysics to drilling in order to make a quick assessment of resources, and as warranted add Cauchari East as another production unit to the "pipeline" of their lithium production assets."
First, the wording "assessment of resources" is premature. There is no geological report outlining a resource on any of the Company's properties and they are not at an advanced exploration stage at which a resource, if any, could be delineated or calculated.
Secondly, the Company is not currently in production. Its properties are at an exploration stage and the outcome of further exploration, including any geophysics or drilling, and other factors as well as any feasibility study that may be undertaken will determine if production is feasible from any of its properties.
Thus, the Company wishes to amend its statement to more correctly read:
"Millennial plans to apply its rapid development strategy to the Cauchari East Property. Pending government and community approvals, the Company will advance through geophysics to drilling in order to make, in as short an amount of time as possible, an assessment of resource potential. As warranted, the Company plans on advancing the project through the necessary work and studies to estimate a resource and, if a resource can be proven, to determining if commercial production is feasible."
This news release has been reviewed by Iain Scarr, VP of Development and Exploration, of the Company and a qualified person as that term is defined in National Instrument 43-101.
Graham Harris, Chairman
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 may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 an applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
