Plateau Energy Metals Inc. PLUUF

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Plateau Energy Metals Expanded Mapping & Outcrop Sampling Results Confirm Potential Falchani ‘Footprint’ to >2 km2 at High Grade Lithium Prospect – drilling continues

TORONTO, March 20, 2018 (GLOBE NEWSWIRE) -- Plateau Energy Metals Inc. (“Plateau” or the "Company")(TSX VENTURE:PLU)(FRANKFURT:QG1)(OTCQB:PLUUF), a lithium and uranium development company, is pleased to announce additional outcrop sampling results that confirm a >2 km2 potential footprint of the Falchani high-grade Lithium discovery located in the Chaccaconiza area of the Company’s Macusani Plateau Project in southeastern Peru.

Falchani Discovery New Outcrop Sampling Highlights (Figure 1 - Falchani Outcrop Sampling Li Results Location Map & Results Table)

• Confirmed Potential Footprint >1,200 m E-W; >1,700 m N-S with 80-100 m thickness of Li tuff unit
• 29 outcrop samples of Li-rich tuff averaging 3,262 ppm Li (0.70% Li2O) ranging from 2,325 to 4,272 ppm Li (0.50-0.92% Li2O).
• Drilling continues through the difficult rainy season. Platforms 1 and 4 results already reported. Platforms 5, 7, 8 and 11 have been drilled with analytical results pending. Platforms 3 and 9 are currently being drilled with additional platforms and holes planned.
• A third Company-owned drill rig has been mobilized to increase productivity.
• NI-43-101 mineral resource estimate expected during Q2/2018.
• The >200 kg Li-rich tuff bulk sample, containing 3,331 ppm Li, collected from trenching and Falchani drill core has been shipped by air and is en route to ANSTO Laboratories in Sydney Australia for Li processing test work, including production of Li carbonate and Li hydroxide products.
• Ted O’Connor, CEO of Plateau Energy Metals, commented: “These additional outcrop sampling results confirm the 2 km2 Falchani potential footprint is real and represents a very significant lithium discovery. Falchani represents a ‘new’ style of lithium deposit with uniquely positive attributes – the high lithium grades are very consistent within the host volcanic tuffs, with lithium residing in the unstable volcanic glass matrix, and not in any true Li-minerals. It is for this reason we have been able to leach 80% Li using dilute sulphuric acid at 80-85 °C. The Li-rich Falchani tuff unit is over 100 m thick, and is situated at open pittable depths from surface to 200 m depth, which translates into less than 1:1 stripping ratios any way you look at it.
  
  We continue to believe Falchani will grow into an extremely large Li deposit; one that will have extremely positive potential production economics and totally scalable production levels to fill future Li demand growth or displace marginal, higher cost projects.
  
  In spite of extremely wet weather conditions at the project, we remain on pace to establish a large lithium resource at Falchani before the end of Q2 2018. This is only about 6 months from initial discovery to mineral resource estimate, which is very exciting for the Company.”
  
  Falchani Expanded Outcrop Mapping and Sampling Details
  Analytical results from 29 outcrop samples of the Lithium-rich volcanic tuff unit and Li-rich transition zone breccias at the Falchani discovery are presented on Figure 1 (attached). These results include the initial four samples reported previously as well as 25 new samples analyzed following the exploration mapping program outlining the extent of the unique Li-rich volcanic unit surrounding the Falchani radioactive anomaly. The 29 samples have lithium contents ranging from 2,325 to 4,272 ppm Li (0.50-0.92% Li2O) averaging 3,262 ppm Li (0.70% Li2O). This mapping has confirmed the potential on-ground footprint of Li-rich rocks at Falchani to >1.2km by >1.7 km (2.04 km2) with relatively consistent Li grades and 80-100 m thicknesses from drill intersections and outcrop mapping.
  
  A >200 kg bulk sample of Li-rich tuff was collected from hand dug outcrop trenching and was shipped by air to ANSTO Laboratory in Sydney, Australia, along with a composite drill core sample of this unit. ANSTO will conduct lithium processing test work, including: leach test/confirmation work, Li product precipitation and potential product characterization work leading to Li production flow-sheet design. The bulk sample is representative of the Falchani drill discovery and contains 3,331 ppm Li (0.72% Li2O), virtually identical to the average Li grade in the >100 m thick, high-grade Li tuff unit intersected in drilling and the average grade of all outcrop samples to date. Once ANSTO receives the bulk sample, the initial work planned should be completed in 4-6 weeks.