JV agreement on Green Energy Lithium Project Terminated
Vancouver, BC (FSCwire) - Voltaic Minerals Corp. (TSXV: VLT, FSE: 2P6) (the “Company” or “Voltaic”) announces that a key condition precedent to entering into a 50/50 joint venture agreement with Equitorial Exploration Corp. (TSX: EXX) (“Equitorial”) for the Green Energy Project in Utah has not been fulfilled, and the joint venture agreement has been terminated. The agreement was announced in a Voltaic news release dated January 27, 2017.
As disclosed in our January 27, 2017 news release, Voltaic is working to finalize an exclusive right to use a lithium from brine extraction process for the Company’s Green Energy Lithium Project in Utah. The process is still in the developmental stage. To date, Voltaic has been working to sign the definitive agreement with the inventors of the process, but some important points have not been agreed upon. However, Voltaic is still negotiating with the inventors and believes that an agreement permitting Voltaic to use the process is still very much achievable.
About Voltaic Minerals Corp.
Voltaic Minerals Corp. is a Vancouver-based Lithium exploration company which owns 100% of the Green Energy Lithium Property 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 property in an over-saturated brine (40% minerals, 60% water) discovered during oil exploration when drill wells intercepted Clastic Bed #14 of the Paradox formation.
ON BEHALF OF THE BOARD
VOLTAIC MINERALS CORP.
“Darryl Jones”
Darryl Jones
President & CEO
Tel: 604.681.1568
info@voltaicminerals.com
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.
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Forward-Looking Statements
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 we will obtain a right to use the developmental stage lithium extraction process; and that we believe the process will be of benefit to Voltaic. 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 the lithium extraction process owner 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, costs for mining and processing may increase; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data 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 with further test work may not be comparable or feasible; 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 project cannot be obtained. We may be unsuccessful in completing our private placement and therefore unable to use fund as intended. 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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/voltaic03032017.pdf
Source: Voltaic Minerals Corp. (TSX Venture:VLT, FWB:2P61)
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