Southern Lithium Announces Management Executive John P. Ryan to Board of Directors
VANCOUVER, January 12, 2017 - Southern Lithium Corp. (TSX-V: SNL) (FSE: SL5) ("Southern" or "the Company") is pleased to announce the appointment of John P. Ryan as a Director of the Company. Mr. Ryan will serve as a non-executive, independent member of the Southern board and member of the Audit Committee, effective immediately Larry Segerstrom President of the Company commented: John adds to the independent non-executive balance of the Board and we're delighted to have secured a seasoned mine industry executive of John's stature and experience to the board of directors of Southern Lithium. This appointment reflects management and board's focus on advancing the company forward and we are extremely pleased with his appointment."
John P. Ryan - B.S., Mining Engineering, J.D., Juris Doctor
Mr. John Ryan has over 21 years' experience with development-stage companies as a qualified mining engineer with extensive international mining experience particularly in the Coeur d'Alene District including work at the Consolidated Silver Mine and the Galena Mine. Mr. Ryan is the founder and co-founder of a number of resource companies including Royal Silver Mines Inc., Silver Bull Resources, Western Goldfields Inc., and U.S. Silver Corporation. In 2004 he co-founded High Plains Uranium, which successfully acquired uranium assets in the Powder River Basin of Wyoming and in Live Oak County and Bee County, Texas and is now part of Uranium One Corporation. Mr. Ryan has been a senior executive and director of a number of public companies in the USA, Canada, the UK, and Australia including, Consolidated Goldfields Corp., Southern Legacy Minerals Inc., Sterling Mining Company, Silver Scott Mines, Inc., Plasmet Corp., Premium Exploration Inc., Trend Petroleum Inc., and Independence Resources Plc Mr. Ryan spent four years as a Lieutenant on sea duty in the United States Navy. Mr. Ryan holds a B.S., Mining Engineering from the University of Idaho and J.D., Juris Doctor in Corporate Civil Litigation from Boston College Law School.
Southern also announces the resignation of Brent Hahn as a Director and Chief Executive Officer. The Board of Directors of the Company would like to thank Mr. Hahn for his services and for his invaluable contribution to the Company. The Company wishes him the best in his future undertakings.
Southern is also pleased to announce the issuance of 1,100,000 stock options to the new directors and three consultants The options are be exercisable at $0.28 per share and will expire after one year.
About the Cruz Property
The Cruz Property is located within South America's Lithium Triangle (northern Chile, northwestern Argentina and southwest Bolivia). The property encompasses 2,500 hectares in the Pocitos salar basin in Salta Province, Argentina, and lies 11 kilometers south of Ady Resources' lithium mining operation in the Salar del Rincon Basin. The property is located along the major fault and volcano chain that defines the southern limit of the Rincon Basin, where ADY Resources is extracting lithium brine, and the northern limit of the Pocitos basin, where the Cruz property is located. Both properties lie along the structural belt that hosts the important lithium resources of the region, and adjacent to the major crossing lineament that is thought to have given rise to the hydrothermal activity that has supplied lithium to both closed salar basins.
The 60-kilometer long Pocitos salar basin has previously been drill tested with a shallow 12-hole program in the 1970s, by an Argentinean government agency "Direccion General de Fabricaciones Militares". To date, this is the only confirmed exploration drilling conducted in the area. The hole that produced the best results is located near the southeast edge of the Cruz property boundary, and averaged 417 parts per million, however these results are considered historical and cannot be confirmed under NI 43-101 standards.
About Southern Lithium Corp.
Southern Lithium Corp. is a resource exploration company engaged in the business of acquiring and exploring minerals properties. Southern Lithium Corp. has assembled an experienced management team with a growth strategy to develop portfolio of Lithium projects. The Company's main objective is to add shareholder value through exploration and development of high quality resources through strategic acquisitions, joint ventures, and marketing while maintaining a lower risk profile through project diversification and sound, cost-effective financial management. With the potential acquisition of the Cruz property, Southern Lithium intends to establish its presence in the Pocitos basin and further deliver on its mission to secure technically superior lithium projects. The Company is only focusing on projects of the highest technical merit in favorable geopolitical jurisdictions.
Further information about the Company is available on our website at southernlithium.com or under our profile on SEDAR at sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"David Alexander"
Chief Financial Officer
For further information, please contact:
Sam Eskandari
Phone: +1.416.918.6785
Email: ir@southernlithium.com
Neither the 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.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.
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