Lithium Energy Products Inc. Amends Terms On Options
VANCOUVER, June 30, 2017 - Lithium Energy Products Inc. ("Lithium Energy Products" or "LEP" or the "Company") (TSX-V: LEP) (FRANKFURT: N8I) announced today that it has amended the terms on 400,000 options issued on July 10, 2012 The expiry date of the options has been extended to February 17, 2019 from their original expiry date of July 3, 2017. The exercise price of the options remains unchanged at $0.15
Each option, upon exercise, entitles the holder to acquire an additional common share of Lithium Energy Products Inc.
About Lithium Energy Products Ltd.
Lithium Energy Products has 3 highly prospective lithium properties in Nevada and Arizona.
Jackpot Lake -Moapa Valley, Nevada
-100% owned - 2800 acres - 140 claims
-35 km NE of Las Vegas
-1976 USGS completed 129 core samples; highest Lithium value was 550 ppm, average 175 ppm
-Spectrographic and atomic-absorption analyses of 135 stream sediment samples confirmed potential for lithium mineral deposits.
Wilcox Playa -Arizona
-1400 acres on shore of Wilcox Playa - Dry lake bed
-USGS has identified a 22-sq. mile anomaly with high electrical conductivity, interpreted as subsurface brine field with no hydrological outlet.
Little Rock Lithium Target - Yavapai County - Arizona
-High grade, lithium rich lacustrine clay identified.
-Target is 2500 metres along strike of basin bounding fault, 300 m perpendicular to the fault and 20 m thick
-Strongly clay-altered rhyolite tuff yielded highly anomalous lithium content of 172 ppm.
-Clayton Valley sediments assay between 73 and 220 ppm Lithium
-Hectorite clays from the same late Miocene lacustrine and volcanic strata 40 km east of the target area carry over 2,700 ppm Lithium
-Identified via electromagnetic survey in 2007
-Large, highly electrically conductive body
-Clay-altered rhyolite tuff.
Paul Sarjeant, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release. Mr. Sarjeant is not independent to the Company as he is a director. The property has not been the subject of a NI 43-101 report.
The company is also the owner of five iron (magnetite) properties in the Red Lake District in the Province of Ontario. The Red Lake District is an established mining region where Lithium Energy Products has two near term development projects, the past-producing Griffith mine and the Karas property.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further information, please contact:
James Walker
CEO
Lithium Energy Products Ltd.
Tel: 604-566-8570
Fax: 604-602-9868
Email: jwalker@lithiumenergyproducts.com
Website: www.LithiumEnergyProducts.com
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