22:34:42 EST Wed 06 Dec 2023
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Powr Lithium Corp
Symbol POWR
Shares Issued 32,875,628
Close 2023-02-07 C$ 0.55
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Powr Lithium cheers American Lithium's TLC estimate

2023-02-07 21:14 ET - News Release

Mr. Patrick Morris reports


Powr Lithium Corp., formerly Clear Sky Lithium Corp., is excited by the recent American Lithium Corp. announcements of technical reports detailing its expanded TLC project mineral resource estimate and positive preliminary economic assessment.

The TLC project is located in the Esmeralda lithium district northwest of Tonopah, Nev., and lies directly adjacent to Powr Lithium's Halo property. See American Lithium's press release titled: American Lithium Files Updated Mineral Resource Technical Report on TLC Supporting Large Increase in Lithium Resources and Technical Report TLC Property Nye County, Nevada, USA (on SEDAR), for full details.

American Lithium's maiden PEA for the TLC project details a positive base case of an after-tax net present value discounted at 8 per cent of $3.26-billion (U.S.) and an after-tax internal rate of return of 27.5 per cent.

Company chief executive officer Patrick Morris noted: "We have been looking forward to the release of American Lithium's updated technical reports since they first indicated they were expanding their TLC project resource in December. This new information, along with the upcoming results from our in-progress geophysics program, will allow us to refine our future exploration and drilling plans. More broadly, the announcement of a positive PEA shows the potential of lithium claystone in this region. I am excited for our year ahead as we work to advance our projects and provide shareholder value."

About Powr Lithium Corp.

Powr Lithium is an exploration and development company dedicated to the advancement of North American lithium deposits to support domestic demand. The company holds interests on the Halo and Eli properties in Nevada. The company is also focusing on the development of claystone extraction and processing technologies aimed at delivering scalable efficiencies across the value chain in a sustainable manner.

We seek Safe Harbor.

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