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Pure Energy Minerals Ltd (2)
Symbol C : PE
Shares Issued 47,077,479
Close 2016-02-12 C$ 0.53
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Pure Energy finishes CV-4 well at Clayton Valley

2016-02-16 09:41 ET - News Release

Mr. Robert Mintak reports

PURE ENERGY COMPLETES FOURTH WELL ON THE CLAYTON VALLEY SOUTH LITHIUM PROJECT

Pure Energy Minerals Ltd. has provided the following operational and exploration update on its winter drill program at its Clayton Valley South lithium brine project located in Esmeralda county, Nevada.

The company has successfully completed well CV-4 from surface to a depth of 1,340 feet (408 metres) below ground level. After installing steel casing to approximately 400 feet (122 metres) below surface, the drillers employed mud rotary methods to complete the well. The drilling encountered several zones of very high permeability, including some intervals of flowing sands. High fluid inflows necessitated termination of the well before the targeted depth of 1,500 feet (457 metres). The drillers completed the well by installing a three-inch (76-millimetre) PVC casing with screened sections open from 260 feet (79 metres) to 1,200 feet (365 metres) below ground level.

Pure Energy has maintained a geologist and/or hydrogeologist on-site for all drilling activity, logging and sampling. The drilling crew developed the new well with air-lifting techniques and prepared it for downhole geophysical logging and fluid sampling. Geologists have already dispatched samples of the drill cuttings to an accredited laboratory for geochemical analyses. In the coming days, the company will deploy its proprietary sampling methodology to collect fluid samples for analysis.

CV-4 is the fourth well drilled by Pure Energy on the CVS project and it is located approximately 1.8 miles (2.9 kilometres) southwest of CV-2 and 1.9 miles (three km) northeast of CV-6 (see company news release dated Jan. 21, 2016). Excellent progress is also being made on CV-5; target depth is expected very soon.

Pure Energy Minerals chief executive officer Robert Mintak commented: "We are pleased to report that the drilling campaign continues to run smoothly and we are gathering excellent data as we expand our understanding of the CVS lithium-brine resource. Simultaneously, the team is ramping up activity as we make preparations for the commencement of the upcoming mini-pilot plant process testing work."

This phase of the exploration program steps out southward from Pure Energy's previous drilling in the northern part of the CVS project in order to increase drill density and confirm lithium grades in the company's maiden resource (see company news release dated July 28, 2015). This program will provide geological, hydrogeological and geochemical information for the planning and permitting of future exploration. These data will support a preliminary economic assessment expected during the middle of 2016, as previously announced.

Qualified person and quality control/quality assurance

Patrick Highsmith, certified professional geologist (AIPG CPG No. 11702), is a qualified person as defined by National Instrument 43-101, and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Highsmith, CPG, is not independent of the company as he is a director.

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