August 20, 2021 – Vancouver, B.C. – Medaro Mining Corp. (CSE:MEDA) (“Medaro” or the “Company”), together with its joint venture partner, Global Lithium Extraction Technologies Inc. (“Global Lithium”), is pleased to provide an update on their lithium extraction technology.
Over the past few weeks, Global Lithium has focused on several key items, with the first being the construction of a small laboratory facility in Kingston, Tennessee (the “Laboratory”). The Laboratory is over 60% built with completion anticipated to be in the coming weeks. Once complete, the Laboratory will be the primary location for all testing during the initial phase of the joint venture.
Global Lithium has been purchasing materials and equipment to assist with its test-tube scale development of the Technology. Specifically, chemicals that will be used for process reaction experiments have already been ordered and equipment, including small pressure vessels and glass reactors, are currently being custom designed and fabricated in preparation for the commencement of testing by month-end. The Company will also be sending rock samples from its Superb Lake lithium property, located in Thunder Bay, Ontario, and CYR South lithium property, located in James Bay, Quebec, to the Laboratory for processing and preliminary extraction experimentation.
Global Lithium has engaged a Senior Chemical Technologist with over 40 years of experience designing, building, and operating equipment for bench-scale chemical processing. The Technologist will work alongside Dr. Jim Blencoe to further develop and validate the Technology.
Faizaan Lalani, Medaro’s President, states, “We are very pleased with how quickly things are coming together with the development of the lithium extraction technology. The ability to source hard rock samples from our own properties is a great added benefit. We look forward to reviewing the results from this first phase of laboratory testing.”
Additionally, the company is pleased to announce the extension of its engagement with Financial Star News Inc. (“FSN”) (address: 701 West Georgia Street, Suite 1500, Vancouver, V7Y 1C6; email: firstname.lastname@example.org) for marketing services of up to three months, commencing August 18, 2021.
FSN shall, as appropriate, create campaigns, ad groups, text ads, display ads, perform detailed keyword research, setup and manage remarketing campaigns, optimize keyword options, coordinate online advertiser and marketers corresponding to the customers online marketing targets, create landing pages for ad campaigns and bring attention to the business of the Company in consideration of USD $500,000 (plus applicable taxes). The promotional activity shall occur on theFinancialStar.com, by email, Facebook, and Google. FSN does not have any prior relationship with the Company aside from its previous engagement with the Company.
On Behalf of the Board of Directors
President & Director
About the Company
The Company is a lithium exploration company based in Vancouver, BC. and holds options over the Superb Lake lithium property located in Thunder Bay, Ontario and the CYR South lithium property located in James Bay, Quebec. Through the joint venture agreement governing the JV, the Company is also engaged in the development and commercialization of a new process to extract lithium from spodumene concentrate.
For more information, investors should review the Company’s filings that are available at www.sedar.com.
Forward Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding its joint venture with Global Lithium, the expected completion of the Laboratory, the development of the lithium extraction technology, the joint venture’s planned activities over the coming two to three months and the timing thereof, statements regarding the extension of the engagement with FSN and the expected marketing activities are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.