VANCOUVER, British Columbia, Jan. 05, 2017 (GLOBE NEWSWIRE) -- Pure Energy Minerals Limited (TSX-V:PE)
(FRANKFURT:A111EG) (OTCQB:PEMIF) (the “Company” or “Pure Energy”) is pleased to announce that exploration borehole CV-7 has been
successfully drilled to its target depth (“TD”) of 2,000 ft (610 m) below ground level at its Clayton Valley South Lithium Brine
Project (“CVS Project”), located near Silver Peak, Nevada. Licensed Nevada well drillers from Harris Exploration Drilling &
Associates Inc. employed a variety of techniques to complete the exploration borehole, but diamond core drilling covered the
lithium-prospective stratigraphy from approximately 500 ft (152 m) to TD at 2,000 ft (610 m). Core recovery was excellent
throughout the target interval (averaging well over 90%). After completing the core hole, the drillers subsequently reamed the
borehole to a diameter of 12.25 in (31 cm) to allow for installation of temporary casing.
Pure Energy geologists collected representative samples of drill core from aquifers of interest for testing of physical and
hydrogeological properties at accredited laboratories. Preliminary observations of fluid conductivity, lithology, and other
geological properties of the sediments are encouraging and consistent with other successful lithium brine exploration boreholes
drilled at the CVS Project.
Given the encouraging geology encountered, the team has decided to convert the borehole into a temporary exploration well for
brine sampling and possible later pumping tests. After the temporary well casing is installed and well development is complete
(air-lifting to remove drilling fluids from the well), the Company expects to conduct downhole geophysical logging to investigate
fluid and geological properties. Hydrogeologists will commence detailed sampling of brine from the well as soon as possible in
early to mid January. Sampling should be completed in two to three weeks. The data from CV-7 will be incorporated into the
forthcoming update of the mineral resource for the CVS Project, and a full discussion of the hydrogeology and chemistry of CV-7
will be included in the subsequent technical reports.
Patrick Highsmith, Pure Energy Minerals CEO commented, “The drilling crew and geologists did a great job on CV-7. Drilling
progressed very efficiently and core recovery continues to be high. CV-7 is positioned just west of an interpreted fault, so this
hole fills an important gap in the drill pattern to support the resource update. A little over 1 km to the west-northwest, core
drilling is also progressing well on CV-8. These important drill holes are the final ingredients needed for the resource update and
PEA that we plan to deliver in the first quarter of 2017.”
Quality Assurance and Quality Control
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702), is a qualified person as defined by NI 43-101, and has
supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Highsmith is
not independent of the Company as he is an officer and director.
Pure Energy Retains Focus Communications for Investor Relations Services
The Company is also pleased to announce that it has retained Leo Karabelas of Focus Communications Ltd. (“Focus”) in
Toronto to provide investor relations services to the Company pursuant to a consulting agreement dated January 3, 2017 (the
“Consulting Agreement”). Focus will provide services to the Company including initiating and maintaining contact with the financial
community, the Company’s shareholders, investors and other stakeholders for the purpose of increasing awareness of the Company and
its activities. The Consulting Agreement is for a term of one year.
In accordance with the terms of the Consulting Agreement, Focus will receive a monthly fee of C$5,000 plus applicable taxes from
the Company as well as eligibility to receive incentive stock options to be awarded based on performance. The Consulting Agreement
is subject to TSX Venture Exchange approval and the Company’s stock option plan.
About Focus Communications
Focus Communications is a private Toronto based firm, specializing in investor relations, corporate communications and market
awareness services. Utilizing its extensive database of private investors, brokers, analysts and fund managers, Focus provides
customized investor relations solutions for its clients. Focus implements a proactive and “one on one” approach in managing
relationships between clients, their shareholders and the investment community for positive, long term relationships.
About Pure Energy Minerals Ltd.
Pure Energy is a lithium resource developer that is driven to become a low-cost supplier for the burgeoning lithium battery
industry. While the Company is currently focused on the development of the CVS Lithium Brine Project and the adjoining Glory
Lithium Clay Project in Clayton Valley, Nevada, it is actively evaluating new lithium targets in North and South America.
Pure Energy has developed core strengths in innovative development and processing technologies for lithium brines and lithium
mineral deposits. The Company’s key attributes and activities include:
- Generating positive results on a large land position with excellent infrastructure in a first-class mining jurisdiction:
approx. 11,000 acres in four main claim groups in Clayton Valley, Esmeralda County, Nevada;
- The only lithium brine resource in North America except for its neighbor, which is the only producing lithium operation in
the United States (Albemarle’s Silver Peak lithium brine mine);
- An inferred mineral resource containing approximately 816,000 metric tonnes of Lithium Carbonate Equivalent (LCE) at an
average grade of approximately 102 mg/L lithium, reported in accordance with NI 43-101 (see July 2015 Inferred Resource
Report);
- An advanced program of testing the efficacy and economics of modern environmentally-responsible processing technologies to
convert the CVS brines into high purity lithium products for new energy storage uses; and,
- An active business development program, applying its expertise to the evaluation of new lithium targets around the
world.
On behalf of the Board of Directors,
“Patrick Highsmith”
Chief Executive Officer
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a
number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those
anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity
markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to
regulations affecting the mining industry. Forward-looking statements in this release may include statements regarding mineral
processing, adaptation of test work to larger scale and/or future operational scales, estimates of reduced future capital and
operating expenses, delivery of a preliminary economic assessment, future exploration programs, operation plans, geological
interpretations, and mineral tenure issues. Although we believe the expectations reflected in our forward looking statements are
reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT: Pure Energy Minerals Limited (www.pureenergyminerals.com) Email: info@pureenergyminerals.com Telephone – 604 608 6611, ext 5