VANCOUVER, British Columbia, May 16, 2017 (GLOBE NEWSWIRE) -- Southern Lithium Corp. (TSX-V:SNL) (FSE:SL5) ("Southern" or "the Company") is aware of a significant increase in the volume of trading in the Company’s stock on the FSE as a result of unauthorized German newsletters, Pennystocks.de, Profitableaktien.de., and Boersennews.de being disseminated. These newsletters were not issued by, on behalf of, or at the request of the Company, and the Company disclaims any involvement with the newsletters or any connection or relationship to Profitableaktien.de., and Boersennews.de or any of these newsletter’s associates. These newsletters were released without the Company’s knowledge. Any statements and or comments made in the newsletters should not be construed as investment advice. The Company does not take any responsibility for comments made by the newsletters. The Company became aware of the newsletter only after a warning was issued by BAFIN (German Federal Financial Supervisory Authority).
All material developments concerning the Company of which its officers and directors are aware have been disclosed in the Company's filings with SEDAR.com and on the Company website at southernlithium.com.
The Company and or its officers and directors did not participate in, or benefit from, trading in the Company's shares during this recent increase in trading volume.
About the Cruz Property
Through our partner Millennial Lithium Corp. (TSX.V:ML) (FSE:A3N2) (OTCQB:MLNLF), the Company has executed a formal option agreement with Proyecto Pastos Grandes S.A. (“PPG SA”), a wholly owned subsidiary of Millennial, for the right to earn up to an eighty percent (80%) interest in the PPG SA’s Cruz Property in the Pocitos Salar Basin in Salta Province, Argentina.
The Cruz Property is located in the heart of South America’s Lithium Triangle (northern Chile, northwestern Argentina and southwest Bolivia). The property encompasses 9,027 hectares (22,306 acres) in the Pocitos Salar Basin in Salta Province, Argentina, and is contiguous with and immediately south of ADY Resources Limited’s lithium brine resource in the Salar del Rincón Basin.
The Cruz Property includes the central portion of the Rincon volcanic center which forms the northern limit of the Pocitos Salar Basin and the southern limit of the Rincon Salar Basin, where ADY Resources Limited is extracting lithium brine. Both properties lie along the structural belt that hosts the favorable lithium resources of the region, and at the junction of a large north-south fault system and the northwest-southeast megastructure along which lies the Rincon volcano, the possible source of the lithium brine in both salar basins.
The 60-kilometre long Pocitos salar basin has previously been drill tested with only a shallow 12-hole program in the 1970s by an Argentinean government agency “Direccion General de Fabricaciones Militares”. To date, this is the only confirmed exploration drilling conducted in the Pocitos basin. The hole that produced the best results is near the southeast edge of the Cruz property boundary, and averaged 417 parts per million lithium. Although these results are considered historical and have not been verified by the Company's QP, the Company considers these results relevant to the future exploration of the property.
About Southern Lithium Corp (TSX-V:SNL) (FSE:SL5)
Southern Lithium Corp. is a resource exploration company engaged in the business of acquiring and exploring mineral properties. Southern Lithium Corp. has assembled an experienced management team with a growth strategy to develop a portfolio of Lithium projects. The Company’s main objective is to add shareholder value through exploration and development of high quality resources through strategic acquisitions, joint ventures, and marketing while maintaining a lower risk profile through project diversification and sound, cost-effective financial management. With the potential acquisition of the Cruz property, Southern Lithium intends to establish its presence in the Pocitos basin and further deliver on its mission to secure technically superior lithium projects. The Company is only focusing on projects of the highest technical merit in favorable geopolitical jurisdictions.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Larry Segerstrom, M.Sc. (Geology), P.Geo., a Director of the Company, who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
ON BEHALF OF THE BOARD OF DIRECTORS
“Clive H. Massey”
Chief Executive Officer
Further information about the Company is available on our website at www.southernlithiumcorp.com or under our profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.