July 29, 2021 – Vancouver, B.C. – Medaro Mining Corp. (CSE:MEDA) (“Medaro” or the “Company”), together with its joint venture partner, Global Lithium Extraction Technologies Inc., is pleased to announce the commencement of work to develop and commercialize a set of new, low-cost processes (the “Technology”) to extract lithium from spodumene concentrate.
The key focus of the joint venture (the “JV”) at this stage is risk reduction in process reactions, which the JV intends to address through bench-scale laboratory testing and the construction of piping and instrumentation diagrams (“P&IDs”) for several of the key processes identified. The laboratory work will provide experimental data on reaction kinetics and product yields to assist in the construction of the P&IDs. With these finalized P&IDs, and accompanying equipment layout drawings and specifications, the JV will be one-step closer to fully developing and commercializing the Technology.
Over the course of the next two to three months, the JV will be working on: (i) securing a laboratory facility for the further development of the Technology; (ii) purchasing commercially available testing equipment; (iii) custom designing and fabricating other small equipment required for the planned test work; and (iv) performing test tube-scale experiments on the Technology. The experimental data will then be analyzed and peer reviewed to determine the commercial efficacy of the Technology. In the coming weeks, Medaro also intends to complete its initial earn-in to the JV. For further information respecting the JV and the initial earn-in, please see the Company’s news release dated June 30, 2021.
Hugh Maddin, the Company’s CEO notes, “while we are excited about the commencement of our Phase 1 exploration work program on our Superb Lake Lithium Property located in Ontario, we are equally as excited to commence work on this technology, which could, if successfully tested and proven out, be a potential game-changer in the lithium mining industry.”
On Behalf of the Board of Directors
Chief Executive Officer & 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 the JV, the construction of a P&ID, the JV’s planned activities over the coming two to three months and the timing thereof and the Company’s initial earn-in to the JV 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.