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Enter Symbol
or Name
USA
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Liberty One Lithium Corp
Symbol LBY
Shares Issued 66,346,833
Close 2017-12-22 C$ 0.70
Market Cap C$ 46,442,783
Recent Sedar Documents

Liberty One to discontinue work at Pocitos salar

2017-12-22 11:30 ET - News Release

Mr. Brad Nichol reports

LIBERTY ONE LITHIUM INITIATES DEVELOPMENT PLANS FOR 2018

Liberty One Lithium Corp. has advised that plans are under way to examine a short list of prospective lithium properties in both Latin America and the continental United States in Q1 2018.

Brad Nichol, chief executive officer of Liberty One, noted: "We have had exploration plans for our Utah property in the works for some time, and our extremely favorable $10-million in working capital provides us the opportunity to advance those efforts as well as broadening our reach in search of undiscovered or undervalued projects in order to deliver on our strategic goals for measured growth. Our desire to build a global portfolio of lithium holdings is based on our assessment of supply chain trends that we believe requires positive and decisive action as the economics of the lithium market continues to evolve.

"In that regard, we have determined that our exploration efforts at the Pocitos West property in Argentina falls short of the viability we require to move ahead based on our current economic projections," Mr. Nichol continued. "Therefore, we have elected to discontinue further operations or investment in the Pocitos salar at this time. Perhaps a more aggressive operator might undertake a full field exploration program in future, but our near-term exploratory goals have been achieved, and we now feel our investment will be better utilized in other jurisdictions where risk factors best suit our stage of business development. We are very pleased to have utilized this project to validate our abilities, gain strategic technical insights and create important new relationships within the global lithium mining community. Today, we are more prepared than ever before to meet the opportunities ahead."

Concurrent with this announcement, Liberty One recently affirmed 2018 plans to commence an evaluation of its promising North Paradox property consisting of 233 placer claims encompassing 4,480 acres located within the Paradox basin in Grand county, Utah. Log data at the Utah Geological Survey library indicate the area appears rich with supersaturated brines, and nearby long-term mine operations effectively demonstrate the climatic efficacy for traditional evaporative production processes. Additionally, the company has committed to examining a range of global venture opportunities in Q1 2018 to ascertain investment threshold criteria that will be identified in due course upon entry into any material agreements.

Brad Peek, MSc, CPG, a non-arm's-length party to the company, is the qualified person responsible for the technical disclosure in this news release relating and limited to the North Paradox property in Grand county, Utah.

In related news, John Davidson has tendered his resignation from the board of directors. The company wishes him well on his future endeavours.

About Liberty One Lithium Corp.

Liberty One Lithium is an exploration company focused on the acquisition and development of high-grade lithium brine deposits. The company has plans to evaluate a prospective region of Utah and to identify additional global exploration targets in Q1 2018. The company seeks regions ideally situated for lithium brine production through low-cost and well-proven evaporation methods and that are adjacent to substantive infrastructure and a skilled, experienced labour force.

We seek Safe Harbor.

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