Monumental Energy Corp. Provides Update On Its Laguna Blanca Chilean Lithium Brine-cesium Sediment Salar
VANCOUVER, May 7, 2024 - Monumental Energy Corp. ("Monumental" or the "Company") (TSXV: MNRG) (FSE: BE5) (OTCQB: MNMRF) is pleased to announce the latest Chilean Government update on its Lithium Strategy. On April 15, 2024, Chile, through its Ministry of Mines, launched the process for Chilean and foreign investors to express interest in developing projects to explore and/or extract lithium from deposits located in Chile. Under this strategy, the Ministry of Mines has approved the procedure for the Request for Information ("RFI") which is intended to obtain the information necessary to promote the implementation of projects for the exploration, extraction and processing of lithium deposits and to design the mechanisms, requirements and conditions for granting special lithium operation contracts.
Monumental, through its Chilean subsidiary, Monumental Minerals Chile SpA, announces its plan to file a RFI to pursue necessary exploration for future lithium operation contracts related to 'Project Laguna Blanca'. The Company acknowledges the Chilean Government's prioritization of areas of interest and confirms that the Laguna Blanca Brine System falls within eligible territories for the RFI process.
Michelle DeCecco, CEO remarks, "These announcements affirm Chile's commitment to upholding its role as a leading lithium player for the global energy transition. I commend Chile for facilitating the involvement of companies like Monumental Energy in the national lithium market. Moving forward, we remain dedicated to proactive engagement and collaborative with the Government and the local communities in our Project's area."
About Salar De Laguna Blanca
The Laguna Project is located within the prolific lithium triangle, a zone within the central Andes high desert that includes Chile, Argentina, and Bolivia. This zone is estimated to contain more than half of the world's lithium supply beneath the many salt flats, also known as salars, that are common to the region. The Laguna Blanca property consists of 51 exploration concessions totaling 12,425 hectares, 100% owned by Lithium Chile through its wholly owned Chilean subsidiary Minera Kairos Chile Limitada. The Laguna Blanca Project includes both active and paleo salar brines and salts with samples including 1230 mg/l from surface.
About Monumental Energy Corp.
Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and development of properties in the critical and clean energy sector. The Company has an option to acquire a 75% interest and title to the Laguna cesium-lithium brine project located in Chile. The Company holds a 2% net smelter return royalty on Summit Nanotech's share of any future lithium production from the Salar de Turi Project. The Company has an option to acquire a 100% interest in the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border. The Company owns securities of New Zealand Energy Corp.
On behalf of the Board of Directors,
/s/ "Michelle DeCecco"
Michelle DeCecco, CEO
Contact Information:
Email: michelle@monumental.energy
Or
Maximilian Sali, VP Corporate Development, Director and founder
Email: max@monumental.energy
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Information
This news release contains "forward-looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, the potential plans for the Company's projects, the plan to file a RFI for the Laguna project, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. 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 the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and the price of oil and gas, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain all necessary government permits, approvals and authorizations, failure to obtain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of rare earth elements, lithium, cesium and other metals, decrease in the price of oil and gas, loss of key employees, consultants, or directors, failure to maintain or obtain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.
SOURCE Monumental Minerals Corp.