03:45:09 EDT Tue 16 Apr 2024
Enter Symbol
or Name
USA
CA



Millennial Lithium Corp
Symbol ML
Shares Issued 28,080,335
Close 2016-09-28 C$ 2.35
Market Cap C$ 65,988,787
Recent Sedar Documents

Millennial Lithium clarifies Sept. 26 news release

2016-09-28 18:16 ET - News Release

Mr. Graham Harris reports

MILLENNIAL LITHIUM CORP.: CLARIFICATION OF STATEMENT IN SEPTEMBER 26 NEWS RELEASE

Millennial Lithium Corp. is clarifying certain disclosure made in its news release dated Sept. 26, 2016.

That news release stated: "Millennial plans to apply its rapid development strategy to the Cauchari East property. Pending government and community approvals, the company will rapidly advance through geophysics to drilling in order to make a quick assessment of resources and, as warranted, add Cauchari East as another production unit to the pipeline of their lithium production assets."

First, the wording "assessment of resources" is premature. There is no geological report outlining a resource on any of the company's properties, and they are not at an advanced exploration stage at which a resource, if any, could be delineated or calculated.

Secondly, the company is not currently in production. Its properties are at an exploration stage, and the outcome of further exploration, including any geophysics or drilling, and other factors as well as any feasibility study that may be undertaken will determine if production is feasible from any of its properties.

Thus, the company wishes to amend its statement to more correctly read: "Millennial plans to apply its rapid development strategy to the Cauchari East property. Pending government and community approvals, the company will advance through geophysics to drilling in order to make, in as short an amount of time as possible, an assessment of resource potential. As warranted, the company plans on advancing the project through the necessary work and studies to estimate a resource, and, if a resource can be proven, to determining if commercial production is feasible."

This news release has been reviewed by Iain Scarr, vice-president of development and exploration of the company, and a qualified person as that term is defined in National Instrument 43-101.

We seek Safe Harbor.

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