Standard Lithium To Acquire Lithium Brine Exploration And Production Rights
August 2, 2017 – Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV:SLL FRA:S5L OTCQX:STLHF) is pleased to announce that the Company has entered into a Memorandum of Understanding (MoU) with a non-affiliated NYSE-listed company with regard to an option to acquire certain rights to conduct brine exploration and production and lithium extraction activities on approximately 30,000 net brine acres in exchange for a cash payment of US$500,000, with additional fees and payment obligations in the future if the option is executed and exercised, and subject to certain conditions. The brine leases overlie the Smackover Formation in a region with a long history of commercial scale brine processing.
Review of historical published brine data from within and adjacent to the lease area leads the Company to believe that lithium-bearing brines are likely present, though further work will be conducted during the due-diligence period to confirm this.
Closing of the transaction contemplated by the MoU is contingent on the completion of satisfactory due diligence work and studies as well as the finalization of a definitive agreement between the two parties. The Company will provide further information on the transaction as it becomes available.
On behalf of the Board,
Standard Lithium Ltd.
Robert Mintak, Director & CEO
About Standard Lithium
Standard’s value creation strategy encompasses acquiring a diverse and highly prospective portfolio of large-scale domestic brine resources, led by an innovation & results oriented management team with a strong focus on technical skills. The Company is currently focused on the immediate exploration and development of its 16,000+ acre Bristol Lake, Brine Project located in the Mojave region of San Bernardino County, California. The location has significant infrastructure in-place, with easy road and rail access, abundant electricity and water sources, and is already permitted for extensive brine extraction and processing activities.
For further information, contact Anthony Alvaro at 604.260.4793
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