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One World Minerals Inc
Symbol OWM
Shares Issued 52,761,383
Close 2017-07-21 C$ 0.27
Market Cap C$ 14,245,573
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One World adds CSAMT survey to Salar del Diablo program

2017-07-26 07:15 ET - News Release

Mr. Douglas Fulcher reports

ONE WORLD MINERALS EXPANDS ITS EXPLORATION PROGRAM AT SALAR DEL DIABLO PROPERTY (FORMERLY RICO LITIO)

One World Minerals Inc. has expanded its exploration program to include additional geochemical sampling and extension of the planned geophysical program. In addition to gravity and time domain electromagnetic surveys, the exploration program will now include a controlled source audio magnetic telluric survey (CSAMT). The intent of the expanded program is to further delineate basin stratigraphy and structure as well as to define low resistivity zones that may indicate brine aquifers. The Salar del Diablo property (formerly Rico Litio) is in the state of Baja California Norte and 35 kilometres from San Felipe, Mexico.

The Salar del Diablo property covers a large closed basin of 75,400 hectares (750 square kilometres). The property is 120 kilometres long and between 10 and 40 kilometres wide. As previously announced, in the northern part of the property surface auger samples assayed from 53 to 188 parts per million lithium and in the southern part samples assayed from 15 to 82 ppm lithium. In total, the samples extend over 110 kilometres and have an average grade of 74 ppm lithium. The surface samples were taken from surface salar sediments and rocks, not from brines that may occur at depth.

The predrilling program is focused on the northern part of the property, called Valle del Diablo, and the company expects to identify priority drill targets within 60 days. The program has started with logistical and contract preparations. The ensuing field activities will include surveying an expanded grid to conduct the three geophysical programs and concurrent geochemical sampling to further determine basin configuration, aquifer identification and to delineate the distribution of lithium at the surface.

For a comparison of Salar del Diablo with Salar de Atacama, Chile, with strong similarities, including size and geologic environment (including young rhyolitic volcanic activity, hot springs, active tectonic setting), see the map on the company's website.

The company has an option to acquire up to an 80-per-cent property interest by issuing 1.7 million shares over time, completing minimum work programs of $1,339,662 (U.S.), and cash payments totalling $225,000 (U.S.). The company also has an option to purchase an additional 10-per-cent property interest for $5-million (U.S.) at the time of presenting a bankable feasibility study.

Andrea Diakow, PGeo, a qualified person as defined in National Instrument 43-101, has read and approved the scientific and technical disclosure as stated in this news release.

We seek Safe Harbor.

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