TORONTO, July 25, 2017 /CNW/ - LSC Lithium Corporation ("LSC"
or together with its subsidiaries, the "Company") (TSXV:LSC) announced today that it has accepted the resignation of Wayne Richardson, as the Company's Chief Executive Officer ("CEO"). Mr. Richardson was instrumental in
establishing a strong footing for LSC to operate in Argentina and has been a strategic asset
during the growth stage of the Company. Mr. Richardson has resigned to focus on the continued growth and advancement of
Enirgi Group Corporation ("Enirgi Group") and it's portfolio of global projects and technologies, including Enirgi Group's
proprietary Direct Xtraction Processing Technology, which has successfully been deployed at Enirgi Group's DXP Plant on their
wholly-owned Salar del Rincón in Salta, Argentina. Enirgi Group's technology is a key element of
the strategic relationship agreement between LSC and Enirgi Group. LSC will continue to benefit from Mr. Richardson's leadership
as the Chairman of LSC.
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The Board of Directors is pleased to announce that Mr. Carlos Galli, LSC's Chief Operating
Officer, will act as the interim CEO until a new Chief Executive Officer is appointed. The appointment of Mr. Galli as CEO is
subject to certain conditions. Mr. Galli has been working with ADY since 2010, first as Industrial Manager and then as General
Manager of Operations. Mr. Galli has participated in the construction and management of a lithium carbonate plant operation in
the Puna plateau of Argentina, which delivered product to 5 countries. Among his past work
experiences, he was an Industrial Segments Manager in SKF Latin America, and a Process Technology Business Manager in Alfa
Laval.
The Board of LSC is very pleased to have Mr. Galli in this new role. With an Argentinian exploration focus, Carlos'
professional knowledge, exploration experience and enthusiasm is a key to driving the accelerated and expanded exploration
program. This change also benefits LSC as Enirgi Group will be focused on delivery of QP sign-off of their DXP Plant and funding
for the final 50,000 tonne per year lithium carbonate commercial plant, which once successfully delivered, will be of
demonstrable benefit to LSC.
Exploration Update
LSC has recently initiated a major exploration program on its Salar de Pozuelos property
("Pozuelos"), following up on the success of its initial exploration (see LSC press release dated April
10, 2017) and the closing of the acquisition of LitheA which owned 100% of Pozuelos.
The current program incorporates 15 holes to test all depths of Pozuelos and collect brine and relative Brine Release Capacity
(RBRC) samples. Drilling for the current program commenced the week of July 14 in the south end of
Pozuelos. The first hole drilled, SP-2017-15, intersected highly fractured halite to 35 m depth, followed by fractured halite
with intercalated clays and very coarse gravels to 81.5 m. The hole was stopped at 81.5 m, cased with filters and brine samples
obtained by air-lift tests. The brine density exceeded 1.2 kg/L. Brine assays are expected within the next two weeks. The second
hole, SP-2017-11, had advanced to 45 m as of July 20. It encountered an initial 5 m interval of
organic material followed by 35 m of highly fractured halite intercalated with some clay and significant coarse gravel. The hole
is planned to advance to 60 m with the collection of brine samples at selected intervals. LSC is encouraged by the drilling
results to date, which indicate the potential for high porosity formations.
A drilling program on LSC's tenements on nearby Salar Pastos Grandes is scheduled to start as soon as permits are received,
which are expected by the beginning of August. This program will complement the work on Pozuelos. Other exploration programs are
scheduled to start in early August on LSC's projects at Salar Rio Grande and Salar Jama. In
addition, LSC anticipates receiving permits to undertake initial exploration work on its Salar Salinas
Grandes tenements in Salta Province in late Q3/17 following a successful community
relations engagement program.
Qualified Person/Data Verification
The scientific and technical information included in this press release is based upon information prepared and approved by
Donald H. Hains, P.Geo. Donald H. Hains is a qualified person, as
defined in NI 43-101 and is independent of LSC and Lithea.
ABOUT LSC LITHIUM CORPORATION:
LSC Lithium has amassed a large portfolio of prospective lithium rich salars and is focused on developing its tenements
located in five salars: Pozuelos, Pastos Grandes, Rio Grande, Salinas Grandes and Jama. All LSC tenements are located in
the "Lithium Triangle," an area at the intersection of Argentina, Bolivia, and Chile where the world's most abundant lithium brine deposits
are found. LSC Lithium has a land package portfolio totaling approximately 300,000 hectares, which represents extensive lithium
prospective salar holdings in Argentina.
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information. These statements relate to future
events or future performance, including statements as to the following: LSC's intentions regarding its exploration
programs, funding to undertake intended activities and the timing and ability to advance the Pozuelos Property to
feasibility study level. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking
information and are based on LSC's current belief or assumptions as to the outcome and timing of such future events. Whether
actual results and developments will conform with LSC's expectations is subject to a number of risks and uncertainties including
factors underlying management's assumptions, such as risks related to availability of funding on acceptable terms, exploration
and the establishment of resources and reserves on the Pozuelos Property or other LSC properties; the application and future
licensing of new technologies; the risks around timing, permitting, funding and construction of a regional processing facility at
the Salar del Rincón by Enirgi Group and the ability of LSC to fast-track production from its own properties by supplying brine
to such a facility; risks relating to proposed acquisitions; volatility in lithium prices and the market for lithium; exchange
rate fluctuations; volatility in LSC's share price; the requirement for significant additional funds for development that may not
be available; changes in national and local government legislation, including permitting and licensing regimes and taxation
policies and the enforcement thereof; regulatory, political or economic developments in Argentina or elsewhere; litigation; title, permit or license disputes related to interests on any of the
properties in which the Company holds an interest; excessive cost escalation as well as development, permitting, infrastructure,
operating or technical difficulties on any of the Company's properties; risks and hazards associated with the business of
development and mining on any of the Company's properties. Actual future results may differ materially. The forward-looking
information contained in this release is made as of the date hereof and LSC is not obligated to update or revise any
forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable
securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance
on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. For
more information see the Company's filing statement on SEDAR at www.sedar.com .
Neither the TSX Venture Exchange Inc. 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.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
the United States. The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold
within the United States unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
SOURCE LSC Lithium Corporation
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