Vancouver, British Columbia--(Newsfile Corp. - November 6, 2017) - Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQB: MLNLF) ("Millennial" or the "Company") is pleased to announce that is has engaged WorleyParsons Chile S.A. (WP) to complete a Preliminary Economic Assessment (PEA) on its flagship Pastos Grandes Project in Salta, Argentina. In addition, Millennial has appointed Mr. Max Missiouk as Chief Financial Officer for the Company effective Nov. 1, 2017.
WorleyParsons is a leading global provider of professional services to the resource and energy sectors, and the complex processing industries. With approximately 22,800 personnel in 106 offices in 42 countries around the globe (including 150 employees in Chile), WorleyParsons has a significant and respected global footprint in the engineering and resources fields. WP has over 22 years' experience in the lithium industry including engineering development for lithium production from brines. Past clients in the lithium sector include SQM, Rockwood Lithium, Lithium Americas, Lithium Power and Lithium One.
Millennial has engaged WP to complete a comprehensive PEA on its flagship lithium project, Pastos Grandes, in Salta, Argentina. The development strategy focuses on production of 10,000 Tonnes per Year (TPY) of lithium carbonate with the flexibility to expand production to 25,000 TPY. The PEA is scheduled for completion in Q1 2018.
Farhad Abasov, Millennial President and CEO, commented "We are very pleased to have engaged and be working with WorleyParsons who bring a wealth of lithium knowledge and experience to our Pastos Grandes Project. WorleyParsons is a leading global engineering firm and has been involved in all aspects of lithium brine operations which will be invaluable in executing our PEA. At this time I would also like to welcome Mr. Max Missiouk to the Millennial team as our Chief Financial Officer. Mr. Missiouk has extensive financial experience within the mining sector and will be a valuable asset as we move our project through the PEA to the feasibility stage."
Millennial is pleased to announce the appointment of Mr. Max Missiouk to the position of Chief Financial Officer (CFO) effective Nov. 1, 2017. The Company will also grant 100,000 options to Mr. Missiouk. Mr. Missiouk has served as a CFO and controller for a number of publicly listed resource and venture companies including Allana Potash Corp. and Crocodile Gold Corp.. Mr. Missiouk is a CPA (CMA) and has a post-graduate degree in Banking and Finance Management.
This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the Company and a qualified person as that term is defined in National Instrument 43-101.
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.
MILLENNIAL LITHIUM CORP.
"Farhad Abasov"
CEO, Director
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This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
