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Pure Energy Minerals Ltd (2)
Symbol PE
Shares Issued 66,226,056
Close 2016-06-28 C$ 0.67
Market Cap C$ 44,371,458
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Pure Energy completes CV-3 well at Clayton Valley South

2016-06-29 09:59 ET - News Release

Mr. Patrick Highsmith reports

PURE ENERGY MINERALS EXCEEDS TARGET DEPTH IN NEW WELL

Pure Energy Minerals Ltd.'s exploration borehole CV-3 has been successfully drilled to a total depth of 2,000 feet below ground level (610 metres) at its Clayton Valley South lithium brine project, located near Silver Peak, Nev. The original target depth for this well was 1,600 feet (490 metres), but favourable drilling conditions and positive return of cuttings and formation fluids supported the extension of the depth of investigation down to the final depth. The well has been completed to a diameter of 12.5 inches (32 centimetres), and field crews are currently installing temporary well casing. The new well will serve the dual purpose of deep exploration and monitoring for pumping tests. The company expects to commence detailed brine sampling in early July, with results to follow soon thereafter.

Drillers employed a combination of drilling techniques to complete the CV-3 well, including diamond core drilling to 1,400 feet (427 metres) and mud rotary from 1,400 to 2,000 feet (610 metres). Core recovery continues to be excellent (over 95 per cent) on the CVS project. The new well was collared approximately 660 feet (200 metres) east-southeast of CV-1. The geological and porosity data from CV-3 will be important additions to the database in the northern project area.

Quality assurance and quality control

Patrick Highsmith, certified professional geologist, is a qualified person as defined by NI 43-101, and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Highsmith is not independent of the company as he is an officer and director.

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