NEWS OUT VANCOUVER, BC - TheNewswire - March 23, 2022 - One World Lithium Inc. (OTC:OWRDF) (CSE:OWLI) (the "Company" or "OWL") announces signing a Non-Exclusive Research and Evaluation License with Option (Patent) (the "License") with the US Department of Energy's ("DOE") National Energy Technology Laboratory ("NETL") for the DOE's Patents titled Selective Lithium Recovery as Lithium Carbonate from Natural Brine and any patents stemming therefrom. (the "Licensed Inventions").
The Agreement allows OWL to research and commercially evaluate the Licensed Inventions. The initial Option Period is for one year from March 02, 2022 with extensions available for an additional period of time. During the Option Period OWL may enter negotiations for an exclusive license within the agreed field of use which are naturally occurring brines with the exception of sea water and geothermal brines. Brines produced as a co-product, by-product, or waste stream from industrial practices or energy production/development processes are also excluded from the field of use. These include but are not limited to brines produced from industrial practices such as oil & gas production, carbon sequestration, enhanced oil recovery, and coal bed methane recovery. Also excluded are brines produced from legacy industrial or energy development practices, such as abandoned mine land (AML)-related brines.
The DOE patent is an advanced direct lithium extraction (DLE) process for the extraction of lithium from natural brines, rapidly generating lithium carbonate. The method uses unique carbon injection-mixing techniques to directly precipitate lithium carbonate in brines. This process requires no solvent, electrodes, and membranes, but only uses carbon dioxide which can be sourced from industrial waste streams or ambient air. It significantly reduces capital and operation costs, process time, energy requirements, and overall carbon dioxide emissions. The process is fully operational at the brine source, eliminating transportation of brines to a chemical processing facility to form lithium carbonate. Deployment of this technology will reduce dependence on foreign lithium sources.
Doug Fulcher, the Company's CEO noted, "this license agreement will allow OWL to work closely with the DOE which may enhance the Company's ability to find lithium properties of merit that may benefit from using the Company's commercialized Separation Technology from DOE and NETL".
About One World Lithium Inc.
OWL remains focused on properties of merit that may contain lithium carbonate in a brine. The Company is also focused on commercial application of the DOE's Separation Technology. OWL intends to license or joint venture its technology to current and future lithium carbonate producers.
On behalf of the Board of Directors of One World Lithium Inc.,
"Douglas Fulcher"
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com
or call 1-604-564-2017 Extension-3.
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. Forward looking information is based on certain key expectations and assumptions made by the management of the OWL, including the intention of OWL to proceed with the advancement of properties and the new critical separation technology. Although OWL believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because OWL can give no assurance that they will prove to be correct. Forward looking statements contained in this press release are made as of the date of this press release. OWL disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from the those anticipated in such statements, important factors that could cause actual results to differ materially from the company's expectations include: (I) inability of OWL to execute its business plan and raise the required financing; (II) accuracy of mineral or resource exploration activity; (III) continued access to mineral properties; (IV) risks and market fluctuations common to the mining industry and lithium sector in particular; and (V) advancement in new separation technologies. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, some of which are beyond the control of the OWL. The reader is cautioned not to place undue reliance on any forward-looking information contained in this press release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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