Mr. Joseph Mullin reports
PURE ENERGY MINERALS GRANTS STOCK OPTIONS
Pure Energy Minerals Ltd. has granted a total of 800,000 stock options to directors, officers and consultants of the company to purchase common shares of the company in accordance with its approved stock option plan. The options vest over one year and are issued at an exercise price of 30 cents per share with expiry of five years from the date of issuance. The option grant is subject to TSX Venture Exchange approval.
The company is also pleased to announce the appointment of Ann Fehr as corporate secretary and extends its appreciation to Yulia McCutcheon for her dedication and contributions to Pure Energy as corporate secretary during the past year, and wishes her well in future endeavours.
About Pure Energy Minerals Ltd.
Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its Clayton Valley Project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 950 claims over 23,360 acres (9,450 hectares), representing the largest landholdings in the valley.
Pure Energy's strategic partner, Schlumberger Technologies Corp. (SLB), is the operator of the Clayton Valley project. In May, 2019, Pure Energy and SLB signed an earn-in agreement over the CV project, which requires significant investment by SLB at the project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate (LiOH-H2O) and/or lithium carbonate products at a specified rate. SLB plans to utilize both in-house and commercially available technology in the design of the CV pilot plant. SLB's costs, technical parameters and ultimate technology are anticipated to differ from the published PEA (preliminary economic assessment). For further details regarding SLB's participation, please refer to Pure Energy's annual general and special meeting management information circular dated April 4, 2019, available on SEDAR+.
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