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Pure Energy Minerals Ltd (2)
Symbol PE
Shares Issued 66,226,056
Close 2016-11-30 C$ 0.71
Market Cap C$ 47,020,500
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Pure Energy starts drilling CV-8 borehole at Clayton

2016-11-30 07:38 ET - News Release

Mr. Patrick Highsmith reports

PURE ENERGY MINERALS COMMENCES DRILLING NEWEST LITHIUM BRINE EXPLORATION BOREHOLE AT CLAYTON VALLEY SOUTH PROJECT, NEVADA

Pure Energy Minerals Ltd. has commenced drilling its newest exploration borehole, CV-8, on the Clayton Valley South project. This latest borehole is the final one in Pure Energy's current phase of exploration work, and Pure Energy has all necessary permits and government permissions in hand to commence work. Since this borehole is being drilled concurrently with CV-7, the company has retained Boart Longyear as the drilling contractor for CV-8. Boart Longyear has completed collaring of the borehole, and all ancillary works are in place to immediately commence rotary coring of the basin-fill sediments. CV-8 is located approximately 1.8 kilometres (1.1 miles) west-southwest of the recently completed CV-3 well. The company is targeting depths of approximately 600 to 900 metres (2,000 to 3,000 feet) below ground level for CV-8.

CV-8 is in a highly prospective part of Pure Energy's claim package, targeting geophysical and stratigraphic features of interest in a very deep portion of the basin. If completed to its full target depth, the company believes this would be the deepest lithium brine exploratory hole in the area. Upon successful completion of the borehole to target depth as a well, the company expects to collect new brine samples for lithium analysis and integrate those data into its existing inferred lithium brine resource. At the conclusion of the phase 3 drilling program, Pure Energy will have drilled a total of approximately 4.1 km (13,320 feet) of exploration boreholes across their claims.

Patrick Highsmith, Pure Energy Minerals chief executive officer, commented: "A second drill rig has arrived at the CVS project and begun work on CV-8, the final drill hole in our phase 3 program. Our understanding of the CVS brines and their host sediments has improved markedly through 2016. The geophysics and hydrogeological interpretations suggest that familiar aquifers from CV-1 and CV-3 await us in CV-8. We look forward to testing the hydrogeology in this area to new depths. Once the drilling is complete, we shall prepare an update to the resource that incorporates all the new data."

Mr. 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 is not independent of the company as he is an officer and director.

About Pure Energy Minerals

Pure Energy is a lithium-brine resource developer that is driven to become the lowest-cost lithium supplier for the burgeoning North American lithium battery industry. Pure Energy is currently focused on the development of its prospective CVS lithium brine project.

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