Vancouver, British Columbia--(Newsfile Corp. - June 4, 2018) - Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) ("Millennial" or the "Company") is pleased to report that the Company has been granted the environmental permit to conduct geophysics and a drilling program of up to 6 wells on its Cauchari East lithium brine target in Jujuy Province, Argentina.
Millennial President and CEO, Farhad Abasov, states "We are pleased to have reached this milestone towards advancing exploration in this increasingly important lithium producing region. We are committed to exploring this target which adjoins known mineralization as defined by the two other explorers and developers in the Cauchari-Olaroz basin and which hosts the only new brine producer of the past 30 years, Orocobre's Salar de Olaroz Lithium Facility. We look forward to the opportunity to further economic development in the region and in Jujuy Province. We have also obtained required community approvals in accordance with both Jujuy Province's requirements and with our own commitment to community consultation and sustainability."
Millennial's Environmental Impact Report was submitted in support of its application to exercise the rights to explore and develop mineral resources in the initial 3000 hectare mining claim (cateo) comprising its Cauchari East project. The application, first submitted in early 2017, specified that the Company would engage in ground geophysics, followed by a 6-hole drilling program.
In Jujuy Province, such applications have to be submitted not only to the Mining Court and Mining Secretariat, but also directly to the specific communities with granted jurisdiction over the area of concern (in this case the towns of Huancar and Pastos Chicos), to the administrative office for the region (Susques), and to a multi-stakeholder panel, UGAMP. Millennial participated in the required three community meetings in both local communities, mining approvals from each, and subsequently from the Susques municipality. This cleared the way to present the report to the multi-stakeholder "UGAMP" committee and finally for a final technical review and approval by the Mining Director of Jujuy Province.
Work on the planned 6-hole drilling program on the Cauchari East project will commence immediately with an access survey and a TEM geophysics survey followed by an initial three reconnaissance core drill holes. If justified, up to three additional holes will be drilled to further define the limits of any mineralization.
This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of Millennial 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"
President, CEO and 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 including approvals of title and mining rights or licenses, 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.
