2012-09-11 14:36:57 -
Reno, Nevada US, September 11, 2012 /FSC/ - Lithium Corp. (LTUM - OTCBB)(the "Company", or "Lithco"), is pleased to announce that it has submitted an application to the BC Securities Commission (BCSC) to list the Company on the Canadian National Stock Exchange (CNSX). Listing on a Canadian exchange increases the Company's exposure to Canadian equity markets, which are very mining friendly and the Company believes a Canadian listing will provide increased liquidity, equity financing opportunities, corporate mergers, etc. In support of this application Lithium Corporation has filed a Preliminary Long Form Prospectus with the BCSC, which includes a 43-101 report on its Fish Lake Valley prospect, authored by James Chapman PGeo.
Mr. Chapman travelled to Fish Lake Valley recently to
evaluate the condition of the playa, and he reports that it is still too wet to support the weight of a drilling rig. However conditions have improved considerably from when the Company visited the site in July, and Lithium Corporation expects that the playa will continue to dry through the fall and that it will be stable enough to permit drilling sometime in late October or early November.
Meanwhile the Company has staked more claims at its San Emidio prospect, and is in the process of amending its BLM permit to facilitate another round of drilling there. Sampling during 2011 on this prospect resulted in the discovery of subsurface brine containing up to 86 mg/liter lithium. It also has been determined that a deeper subsurface brine pool exists locally, as preliminary drilling in early 2012 has intersected strongly anomalous lithium-in-brine mineralization of up to 23 mg/liter on the margins of the deeper brine pool.
Logistics are excellent at the San Emidio prospect as it is located only 60 miles to the northeast of Reno, Nevada, is served by a network of various roads, and is about 8 miles by road from Nevada State Highway 447. Power is available in the valley, as there is a geothermal generating plant at the south end of the prospect.
For further information please contact Samantha White at Lithium Corporation at (888) 299-3989 or via email at email@example.com
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for new lithium resources within the state of Nevada. The Company explores and develops potentially economic lithium-enriched brine fields, with an eye to becoming a long-term producer of this increasingly strategic and economically important commodity.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, exploration and development of our mineral properties, specifically in regards to any future drilling programs.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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Source: Lithium Corp. (LTUM: OTCBB) www.lithiumcorporation.com
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