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HENDERSON, Nev., Sept. 14, 2018 (GLOBE NEWSWIRE) -- U.S. Lithium Corp: (OTC PINK:LITH) ("LITH" or the "Company") wishes to announce that it has renewed all of its lithium claims in the Clayton Valley of Nevada with the Bureau of Land Management (BLM).These claims are contiguous to claims held by both PURE Energy and Lithium X in Clayton Valley. Clayton Valley is home to Albemarle’s Silver Peak Lithium Mine, the only mine producing lithium from brine in North America. Both PURE Energy and Lithium X are actively exploring their respective claim blocks in Clayton Valley.
Recently, the issued and outstanding common shares and common share purchase warrants Lithium X were purchased by NextView for $265M. NextView is an active investment firm with offices in Beijing and Shanghai. It manages over RMB30 billion assets and invests in new energy, resources, TMT, sports and consumer sectors.
About U.S. Lithium Corporation
U.S. Lithium Corporation is an exploration and development company focused in North America on lithium and related resources for the rapidly growing energy storage industry. The Company looks to capitalize on opportunities that can provide critical raw materials to the ever-expanding next generation battery market. Lithium demand is projected to triple by the year 2025 according to a recent report by Goldman Sachs and for many analysts is considered the new gasoline of the future. Cobalt and nickel are other key elements with strong demand growth profiles associated with the projected five to six-fold increase in battery demand over the next ten years. U.S. Lithium Corp intends to be an integral part of this next booming industry. Our current focus is in the Basin and Range province of Nevada and the mining friendly jurisdiction of Saskatchewan, Canada. Elon, our first project, is located in Clayton Valley and is in close proximity to Albermarle’s Silver Peak Project, the only producing lithium brine mine in North America.
Some of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of technology programs; competition from other companies; and the Company’s ability to obtain additional funding required to conduct its activities. Please refer to the company’s filings with the Securities and Exchange Commission for a comprehensive list of risk factors that could cause actual results, performance or achievements of the Company to differ materially from those expressed or implied in such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements.