Vancouver, British Columbia--(Newsfile Corp. - October 23, 2017) - Bearing Lithium Corp. (TSXV: BRZ) (OTCQB: BRGRF) (FSE: B6K1)
("Bearing" or the "Company") announces that, as of Friday, October 20, 2017, all share purchase warrants of the
Company (the "2016 Warrants") issued pursuant to the Company's September 2016 private placement have been exercised. In
total, 12.48 million 2016 Warrants were exercised at an exercise price of $0.25 for total proceeds of C$3.12 million. Proceeds of
the private placements from 2016 have been primarily used to deleverage Li3 Energy, Inc. ("Li3 Energy"), a recently acquired
subsidiary of the Company, and to pay legal and other costs associated with the acquisition of Li3 Energy.
The Company currently has 54.7 million issued and outstanding common shares (including shares issued pursuant to the exercise of
the 2016 Warrants) and treasury of over C$3.2 million.
Jeremy Poirier, President and CEO of the Company, commented: "We are pleased to have strengthened our balance sheet and for the
continued support of shareholders. Given our free-carry on project expenditures at Maricunga and forecasted corporate expenditures,
Bearing remains well capitalized to fund its obligations through to the end of 2018."
About Bearing Lithium Corp.
Bearing Lithium Corp. is a mineral exploration and development company, primarily focused on lithium. Its primary asset is a
free-carried 17.7% interest in the Maricunga lithium brine project in Chile. The Maricunga project represents one of the
highest-grade lithium brine salars globally and the only pre-production project in Chile. Over US$30 million has been invested in
the project to date and all expenditures through 2018, including the delivery of a Definitive Feasibility Study in H1/18, are
fully-funded by their earn-in joint-venture partner. Bearing also holds a portfolio of grass-roots exploration projects in the gold
district of the Yukon, which are currently optioned to Golden Predator, and a lithium project in Nevada, which is currently
optioned to First Division Ventures Inc.
ON BEHALF OF THE BOARD
Signed "Jeremy Poirier"
Jeremy Poirier, President and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier-- President and CEO Bearing Lithium - Telephone: 1-604-262-8835
Neither the 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.
Cautionary Statements Regarding Forward Looking Information
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the
United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included
herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking
statements.
Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will",
"may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other
things: Bearing's forecasted expenditures, completion of a Definitive Feasibility Study and the
Company's financial position to the end of 2018. Statements concerning mineral resource estimates may also be deemed
to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered
if the Maricunga Project is developed. Actual future results may differ materially. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such
statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are
based upon a number of assumptions and estimates that, while considered reasonable by Bearing, are inherently subject
to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and
estimates based on or related to many of these factors. Such factors include, without limitation: the occurrence of
unexpected financial obligations, fluctuations in the price of lithium or certain other commodities; fluctuations in the
currency markets; changes in national and local government, legislation, taxation, controls, regulations and political or economic
developments; risks and hazards associated with the business of mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); the presence of
laws and regulations that may impose restrictions on mining and employee relations. Readers should not place undue
reliance on the forward-looking statements and information contained in this news release concerning these times. Except as
required by law, Bearing does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections,
or other factors, should they change, except as required by law.
