Kamloops, British Columbia: Advance Lithium Corp. (TSXV: AALI) (“Advance Lithium” or “the Company”) would like to report on recent developments by the Mexican government concerning lithium mining in the country. Recently announced changes to the mining laws state that all the activities related to the exploration, exploitation and profit of lithium shall be the responsibility of the yet to be formed national lithium company. Advance Lithium has completed significant work on its claims to establish large zones of lithium, potassium and boron mineralization that starts right at the surface. Its claims are in good standing, with work completed and all legal filings in order.
It should be noted that the analysis of the company’s deposits show that the composition of the mineralization is approximately equal parts lithium and potassium. While lithium is covered by this new legislation in Mexico, potassium is not. As potassium is in high demand as a fertilizer and all potassium needed by Mexican farmers is currently imported at high cost, the company’s deposits could be in great demand. The Company’s deposits are located in close proximity to the breadbasket of Mexico close to key farming regions.
An added benefit to the potassium potential in Advance Lithium’s projects is that utilizing the patent pending extraction method for lithium and potassium, the Company can produce sulphate of potash (SOP). The price of SOP is very strong and is used to enhance certain crops for growth and adding to the shelf life of fruits and vegetables.
The patent pending lithium and potassium extraction method to be used on Advance Lithium’s deposits was invented by Dr. Roberto Pérez Garibay and his team at the prestigious Center of Research and Advanced Studies of the National Polytechnic Institute (Cinvestav-IPN) in Saltillo, Mexico. This unique method of using electrical separation, which can benefit from using solar power, has several benefits over known methods to extract lithium from clay and fine sand deposits. After the electrical separation of the lithium, potassium and water an organic compound is applied and then the water is removed to be recycled and used many times. The existing method of extracting lithium from clay deposits requires the use of toxic chemicals, a lot of power and substantial amounts of water. Dr. Roberto Pérez Garibay and his team at Cinvestav-IPN have developed a remarkable new environmentally friendly, low cost method to extract lithium and potassium.
The potential of near term production of both lithium and potassium products puts the Company in a unique position with its salars/salt lakes deposits and looks forward to discussing the lithium opportunities with the newly formed Mexican national lithium company.
About Advance Lithium Corp.
Advance Lithium is a junior exploration company focused on acquiring and exploring mineral properties containing precious metals, battery metals and fertilizer minerals. The company acquired a 100-per-cent interest in the Tabasquena silver mine in Zacatecas, Mexico, in 2017, and the Venaditas project, also in Zacatecas state, in April, 2018.
In addition, Advance Lithium holds a 3% Royalty interest in strategic claims in the Liranda Corridor in Kenya, East Africa, where Shanta Gold Limited is upgrading their resource. The project was previously owned by Barrick Gold Corporation, for details see Advance Gold News Release dated 08, 26, 2020.
In March 2021, the Company moved into the lithium space with a purchase agreement to acquire 13 lithium-potassium boron prospective salars in central Mexico, which also includes rights to a patent pending proprietary lithium and potassium extraction method.
For further information, please contact: Allan Barry Laboucan President and CEO
Phone 492-238-5282 (Direct-Mexico Cell)
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward- looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.