(via Thenewswire.ca)
Vancouver, BC / TheNewswire / May 30, 2016 – Durango Resources Inc. (TSX.V-DGO), (the “Company”
or “Durango”) announces that further to its news release dated April
20, 2016, its additional claim blocks located adjacent to Nemaska Lithium Inc’s (TSX.V-NMX) Whabouchi Property, Lac Noir and
Montagne North, have been titled and the purchase for the claims has been closed.
The Montagne North property is located to the northwest and is contiguous with Nemaska Lithium
Corp.’s Whabouchi Property and the Lac Noir property is located to the southeast of Nemaska Lithium’s Whabouchi Property and is
also tied on to Durango’s NMX East property. The purchase has been closed for both properties and Durango has received approval and
titles from Quebec for both properties.
Both sets of claims are host to historically mapped pegmatites. The Lac Noir claims cover
regionally mapped pegmatite outcrops, while the Montagne North claims cover pegmatite outcrops which were mapped by Nemaska
Exploration (now Nemaska Lithium Inc.) and are outlined in the 2011 technical report produced for Tucana Lithium
(3).
Nemaska Lithium Inc. has the world's second-richest and
largest proven and probable lithium deposit in the world (1). The deposit contains 27 million tonnes of proven and probable resources, with an estimated mine life span of 26 years
(2). Nemaska Lithium further announced on May 24, 2016, that it
had received the first $5M tranche from Ressources Quebec for the phase 1 development of its battery-grade lithium hydroxide
plant.
Marcy Kiesman, CEO of Durango, comments, “Durango has been waiting anxiously to obtain title to
these claim blocks. Now that these claims have been titled, a thorough exploration program can be performed to sample the
historically mapped pegmatites for lithium. We have obtained quotes for work programs on the claims and are in the final stages of
preparation. We expect to provide detailed updates on these plans in the near future and intend to mobilize as the weather
permits.”
The technical contents of this release were approved by Mr. Case Lewis, P.Geo., a Qualified Person
as defined by National Instrument 43-101. The properties have not yet been the subject of a National Instrument 43-101
report.
References
-
(1)Nemaska Lithium Inc. news release dated March 11,
2016.
-
(2)Nemaska Lithium Inc. news release dated April 4,
2016.
-
(3)Theberge, D. (2011). NI
43-101 Technical Report Pertaining to the Abigail Property, Nemiscau Area, Northern Quebec, Canada, prepared for Tucana Lithium
Corp.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of
mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest
British Columbia, the Decouverté and Trove gold
properties in the Abitibi Region of Quebec, and certain lithium properties near the Whabouchi mine, the Buckshot graphite property
near the Miller Mine in Québec, the Dianna Lake silver
project in northern Saskatchewan, the Whitney Northwest property near the Lake Shore Gold and
Goldcorp joint venture in Ontario, as well as three sets of claims in the Labrador nickel
corridor.
For further information on Durango, please refer to its SEDAR profile at
www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 604.339.2243
Facsimile: 888.266.3983
Email: durangoresourcesinc@gmail.com
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward-looking information based on current
expectations, including, but not limited to the development, commencement and completion of future exploration or project
development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and
uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the
date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of
risks and uncertainties relating to Durango, please refer to the Company's prospectus filed on its SEDAR profile at www.sedar.com.
Neither 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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